15-05-2025
Datalex posts lower revenues and wider losses for 2024
Airline e-commerce platform Datalex has reported lower revenues and wider losses for the year to the end of December but said it had achieved several positive developments during the year, including the migration of four airlines to its new "Stellex" platform.
Datalex said its annual revenue dipped by 5% to $27.5m from $28.9m the previous year while its loss after tax widened by 13% to $10.2m from $9m.
It said the fall in revenues was mainly due to a number of customer contracts ending in 2023, creating a drag on year-on-year growth as this revenue did not recur in 2024.
Today's results shows that Datalex's "Platform"revenue increased by 24% to $16.1m from $12.9m, driven by ongoing customer activations and the transition of customers to a SaaS licence and transaction fee model.
But its "Services" revenue decreased by 27% to $10.2m from $14.1m, after the cessation of contracts with Scandinavian Airlines and Virgin Australia in 2023.
The company said its total operating expenses increased by 5% to $13.3m on the back of higher insurance and IT expenses because of inflationary pressures.
Looking ahead, Datalex said it had entered 2025 with a solid recurring revenue base and strengthened balance sheet having repaid its loan facility.
"Our financial ambition and priorities will be focused on growing total revenue year on year, continuing to deliver strong platform revenue growth, expanding gross profit margins, and restoring the business to EBITDA profitability," it added.
Jonathan Rockett, Datalex's CEO, said the company achieved several positive developments in 2024, including the launch of its Offer and Order solution, Stellex, and the successful activation and migration of four airlines to this new platform.
He also said the company raised €25m in equity to strengthen it balance sheet.
"Whilst it was disappointing to see revenue decline, after excluding non-recurring revenue, the underlying performance and momentum in platform revenue is promising. The financial performance in 2024 does not reflect the progress made, and I am confident that the actions we have taken will deliver stronger financial performance in 2025," he said.
"2025 has kicked off strongly with the launch of a new modular standalone product, DLX Pay, which is planned to go-live with our launch customer, Air Transat, later this year," the CEO stated.
"Our focus for 2025 is to drive strong platform revenue growth, improve margins, and achieve EBITDA profitability," he added.
