Market cap
$162.7m
End-of-day close multiplied by current shares on issue.
SKO · NZX
Serko is an NZX-listed technology / travel software company with FY21 - FY26 of published result briefings.
Snapshot
FY26, released 20 May 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $119.4m | ↑ +188.0% |
| NPAT | -$17.7m | ↓ -247.1% |
| Operating cash flow | $7m | ↑ +50.1% |
| ROE % | -20.0% | ↓ -15.5pp |
| PBT | -$17m | ↓ -269.6% |
| FCF pre-lease | -$4.4m | ↓ -438.5% |
| FCF post-lease | -$4.4m | ↓ -438.5% |
| Debtor days | 19 | ↓ -32.8% |
| Total assets | $116m | ↓ -8.4% |
Source: latest published briefing (FY26, released 20 May 2026). Change compares against the prior equivalent period: FY25, released 29 October 2024.
Valuation
A compact read on what the market price implies next to the latest filing data. The numbers are a starting point for comparison, not a recommendation.
The latest close and share count context for the market price.
Market cap
$162.7m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
Not available
Not meaningful when recent earnings are negative.
EPS
-0.14
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
Not available
Not available for this company right now.
P/FCF
Not available
Not meaningful when free cash flow is negative or unavailable.
P/B
1.84x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
0.0%
Trailing dividends compared with the latest close.
Total return
Not available
Available once dividend and adjustment data are verified.
Daily closes use the full available width, with hover and touch readouts against real observations. Expand opens the chart at reading size.
Five years of daily closes, as at close, 5 June 2026. Weekends, suspensions, and listing gaps stay as natural gaps in the time scale.
Chat
Ask follow-up questions about Serko's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Longitudinal view
The latest period is shown first.
| Metric | FY2612 MONTHS20 May 2026 | HY266 MONTHS2025-11-18T08:37:34+13:00 | FY2512 MONTHS29 October 2024 | FY2412 MONTHS28 May 2024 | HY246 MONTHS15 November 2023 | HY236 MONTHS23 November 2022 | FY2212 MONTHS18 May 2022 | HY226 MONTHS28 October 2021 | FY2112 MONTHS19 May 2021 | Trend |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $119.4m | $61.1m | $41.5m | $68.8m | $35.8m | $18.8m | $17.9m | $9.2m | $12.4m | Chart |
| Revenue growth % | 34.9% | 47.4%Outside range low revenue growth. 47.4%; 3-period range 80.8% to 105.3%. Revenue growth: 47.4%, below normal range; 3-period mean 92.2%, range 80.8%-105.3%. | -39.7% | 285.1%Unprecedented high revenue growth. 285.1%; 4-period range -52% to 43.8%. Revenue growth: 285.1%, unprecedented high; 4-period mean -3.3%, range -52.0%-43.8%. | 90.4% | 105.3%Outside range high revenue growth. 105.3%; 3-period range 47.4% to 90.4%. Revenue growth: 105.3%, above normal range; 3-period mean 72.9%, range 47.4%-90.4%. | 43.8% | 80.8% | -52.0%Outside range low revenue growth. -52%; 4-period range -39.7% to 285.1%. Revenue growth: -52.0%, below normal range; 4-period mean 81.0%, range -39.7%-285.1%. | Chart
|
| EBITDA | — | — | -$7.9m | -$18.6m | -$9m | -$22.9m | -$0.04m | -$11.8m | -$22.3m | Chart |
| EBITDA margin % | — | — | -19.1% | -27.0% | -25.2% | -121.8% | -0.2% | -128.5% | -179.8% | Chart |
| PBT | -$17m | -$8.5m | -$4.6m | -$15.7m | -$6.8m | -$19.6m | -$35.6m | -$15.2m | -$29m | Chart |
| NPAT | -$17.7m | -$9.5m | -$5.1m | -$15.9m | -$7.2m | -$19.7m | -$36m | -$15.2m | -$29.4m | Chart |
| Operating cash flow | $7m | $8.6m | $4.7m | $5.9m | $2.2m | -$17m | -$18.5m | -$9.8m | -$18m | Chart |
| OCF / EBITDA % | — | — | -59.2% | -31.8% | -24.8% | 74.1% | n/m | 83.5% | 80.8% | Chart |
| FCF pre-lease | -$4.4m | — | $1.3m | -$5.5m | -$2.9m | -$22m | -$18.5m | -$16.8m | -$18m | Chart |
| FCF post-lease | -$4.4m | $3m | $1.3m | — | — | — | — | — | — | Chart |
| ROE % | -20.0% | -10.3% | -4.5%Unprecedented high roe. -4.5%; 4-period range -28.2% to -13.7%. ROE: -4.5%, unprecedented high; 4-period mean -21.4%, range -28.2%--13.7%. | -13.7% | -5.6% | -14.7% | -23.8% | -17.1% | -28.2%Outside range low roe. -28.2%; 4-period range -23.8% to -4.5%. ROE: -28.2%, below normal range; 4-period mean -15.5%, range -23.8%--4.5%. | Chart
|
| Net debt | — | — | — | — | — | — | -$124.5m | -$62.3m | -$34.9m | Chart |
| Net debt / EBITDA | — | — | — | — | — | — | n/m | 5.3x | 1.56x | Chart |
| Debtor days | 19 | 48Outside range high debtor days. 48d; 3-period range 14d to 38d. Debtor days: 47.5 days, above normal range; 3-period mean 28.3 days, range 14.1 days-38.3 days. | 29 | 19Outside range low debtor days. 19d; 4-period range 19d to 91d. Debtor days: 18.9 days, below normal range; 4-period mean 45.9 days, range 19.3 days-91.3 days. | 14Outside range low debtor days. 14d; 3-period range 33d to 48d. Debtor days: 14.1 days, below normal range; 3-period mean 39.4 days, range 32.5 days-47.5 days. | 33 | 44 | 38 | 91Unprecedented high debtor days. 91d; 4-period range 19d to 44d. Debtor days: 91.3 days, unprecedented high; 4-period mean 27.8 days, range 18.9 days-44.2 days. | Chart
|
| Total assets | $116m | $123.4m | $126.7m | $130.1m | $137.4m | $153m | $167.2m | $98.6m | $111.3m | Chart |
Reference: annolyse.ai/companies/sko
Note: Figures are shown as reported. Half-year and full-year absolute values are not directly comparable. Growth rates and ratios are the meaningful comparison across mixed periods.
These charts use verified published filing periods only. Gaps are not interpolated, and mixed half-year/full-year histories are split into separate series.
Reported revenue across covered periods.
Like-period revenue growth where comparable.
Company-specific earnings measure where disclosed.
EBITDA-equivalent margin where revenue and earnings are source-backed.
Statutory profit after tax.
Cash generated from operations.
Additional verified filing metrics for this company. Each point links back to a published briefing period in the source data contract.
Operating cash flow less capex before leases.
Free cash flow after lease payments where available.
Return on equity.
Borrowings less cash; negative values indicate net cash.
Receivables days where the working-capital inputs are source-backed.
Per-period working-capital absorption or release, from the same published history. Positive values are working-capital build; negative values are release.
The setup & the reality
The latest result is checked against what the prior briefing said to watch.
Historical setup
Previous analysisHY26Result releasedAnnolyse analysis published
From Serko's PBT loss widened 84.4% despite 47.4% revenue growth
No stated financial targets are disclosed in this release, so the result cannot be measured against a company-set benchmark. Management's own commentary emphasises "cost discipline" and non-GAAP EBITDAFI growth to $6.1m alongside total income growth of 45% to $61.8m, but the statutory PBT and NPAT figures moved in the opposite direction to that narrative, which matters because the non-GAAP framing does not reconcile cleanly with the reported loss widening. HY26 revenue represents 67.8% of the implied FY26 total, so this is a period of accelerated first-half spend without a disclosed second-half shape to test consistency against.
Open questions
This briefing cannot assess forward-period guidance or targets, because none were disclosed in the supplied materials.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
FY26 · Released 20 May 2026
GetThere's first full year creates a basis discontinuity in the headline comparison while capex rose 59.7% and a working-capital release flatters
HY26 · Released 2025-11-18T08:37:34+13:00
Revenue accelerated on the GetThere acquisition but losses deepened and working capital expanded even as cash generation improved.
FY25 · Released 29 October 2024
The supplied -39.7% revenue change compares half-year results to a full year, masking a positive EBITDAF turn and NZ$1.3m of free cash flow.
FY24 · Released 28 May 2024
Operating cash turned positive at NZ$5.9m but still trailed NZ$11.4m capex, halving the cash balance to NZ$14.1m.
HY24 · Released 15 November 2023
Operating cash turned positive at $2.2m, yet an $11.1m working-capital build and $5.1m of capitalised development left free cash flow negative.
HY23 · Released 23 November 2022
SaaS growth outpaced its historical range while operating cash outflow nearly doubled, pressuring the path to cashflow positive.
FY22 · Released 18 May 2022
Revenue recovery accelerated but investment intensity deepened losses 22.4%, leaving Serko dependent on its fresh capital raise to fund the runway.
HY22 · Released 28 October 2021
Travel bookings up 157% confirm recovery, but $16.8m FCF burn highlights Serko's investment-phase capital intensity.
FY21 · Released 19 May 2021
Booking volumes crashed and cash burn accelerated even as management pointed to a late-year recovery in travel demand.
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