Full Year 2021 Serko Ltd Earnings Call Transcript
Good day, everyone, and welcome to the Serko Full Year 2021 Results Call.
Today's call is being recorded. At this time, I would like to turn the conference over to Darrin Grafton.
Please go ahead.
Good morning, and welcome to today's results presentation for the year ending 31 March 2021.
My name is Darrin Grafton. I'm Serko's CEO. And I'm here with Susan Putt, Serko's CFO.
FY '21 has been a significant year for Serko, from near-zero travel revenue in April 2020, when the full impacts of COVID-19 affected travel bookings, to today where we are living in a state of uncertainty with travel restrictions still affecting a large part of the world. Serko quickly adjusted to the crisis, introducing cost savings in the first half of the year to manage cash burns, with target of less than $2 million per month. Midyear, the decision was made to continue to invest for the opportunities that would still be significant once the travel industry recovered, and
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