Irish travel software firm Datalex has published its annual report and financial statements for the year ended 31 December 2021, as well as its notice of an annual general meeting (AGM).
Details
According to the report, which was published on Datalex.com, Datalex’s revenue decreased by 9%, year on year, in 2021, to US$25.5 million, including a once-off positive revenue item of US$2 million (a 16% decrease, excluding the once-off item); its adjusted EBITDA increased from US$1.4 million in 2020 to US$2.4 million in 2021; it experienced a post-tax loss of US$4.9 million in 2021, which compared to a post-tax loss of US$6.5 million in 2020; its cash balances as of 31 December 2021 were US$8.3 million (2020: US$3.0 million), and the group continues to have access to an undrawn loan facility of €10 million that is available until 31 December of this year; it extended its NDC product to two current customers; it continued to invest in its product portfolio last year, as well as in AI-powered pricing, and a production trial was completed last year with a large airline outside of the group’s existing customer base; a further AI pricing trial is under way with a second airline; Virgin Australia chose Datalex as its airline technology partner in December of last year, to deliver on its customer-centric and retail-focused strategy; and Datalex is committed to investing in new customer relationships and has several opportunities in the pipeline.
Datalex also noted that the group is well placed to benefit from a full global recovery in the airline industry after rightsizing its cost base and securing support from its investors, but the speed of that recovery is difficult to gauge.
Additionally, Datalex stated that its AGM will take place at 11am on 26 May 2022, at the Croke Park Hotel, on Jones’ Road in Drumcondra, Dublin 3.
Statement By CEO
The report included a statement from CEO Sean Corkery, in which he said, “In 2021, we delivered a solid financial performance in a year dominated by Covid-19. We made good progress executing against our product-led growth strategy and announced our selection by Virgin Australia to support their technology road map. We look forward with confidence as airlines begin to reconsider, and accelerate, their investment in digital and retailing technology. Datalex is in a strong position to take advantage of this and is well placed to achieve steady, sustainable growth.”
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