Rategain Travel Technologies Limited Earnings Summary — Q4 FY2026

# “RateGain Travel Technologies Limited Q3 and FY '26 Earnings Conference Call”

# February 16, 2026

## MANAGEMENT: MR. BHANU CHOPRA – CHAIRMAN AND MANAGING DIRECTOR – RATEGAIN TRAVEL TECHNOLOGIES

## LIMITED MR. ROHAN MITTAL – CHIEF FINANCIAL OFFICER –

## RATEGAIN TRAVEL TECHNOLOGIES LIMITED MR. DIVIK ANAND – RATEGAIN TRAVEL

## TECHNOLOGIES LIMITED

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_RateGain Travel Technologies Limited_ _February 16, 2026_

**Moderator:** Ladies and gentlemen, good day, and welcome to the RateGain Travel Technologies Limited Q3 and FY '26 Earnings Conference Call hosted by Strategic Growth Advisors. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on touchtone phone.

I now hand the conference over to Mr. Bhanu Chopra from RateGain Travel Technologies. Thank you. And over to you, sir.

**Bhanu Chopra:** Thank you. And good afternoon, everyone. Thank you for joining RateGain Travel Technologies Q3 FY '26 Earnings Call. This was quite a transformative quarter for us operationally, strategically and structurally.

Let me first start by addressing the headline directly. We delivered revenue of INR540 crores, up 94% year-on-year. Our EBITDA grew 42%. The reported PAT declined year-on-year and the reasons are transparent. There was an increased amortization from acquisition accounting. There were deal-related costs, including diligence, severance and alignment expenses and finance costs related to acquisition funding. These are integration and accounting impacts, not a deterioration in the underlying business. And Rohan will cover these in detail during his commentary. PAT adjusted for onetime exceptional expenses, which are nonrecurring, grew 8% year-on-year.

Importantly, within the first 100 days of integration, we have already executed approximately $12 million in annualized cost savings in Sojern on a base of $24 million annual EBITDA in Sojern. These savings will be visible from Q4 FY '26 onwards, with the full impact should be visible from Q1 FY '27.

Given the cash generation profile of this business, we've already repaid approximately $25 million of acquisition-related debt, representing 20% of gross loan amount within the first 90 days of deal closure. We aim to be net debt positive within 30 months. We continue to generate healthy operating cash flows and that gives us both balance sheet comfort and strategic flexibility as the integration progresses.

Let me now give you some strategic context where value is accruing. Travel continues to be resilient. Digital adoption is accelerating. Online bookings are expanding globally, experience like travel is increasing. In this environment, value accrues to platforms that provide an integrated tech stack, one that allows customers to acquire guests efficiently, retain and engage them meaningfully, expand guest wallet share over time. That is our vision.

We're not building disconnected tools. We are building an integrated AI powered stack across acquisitions, engagement, distribution and revenue optimization. An important shift we are seeing is how travellers search and discover. Increasingly, travellers are using conversational AI platforms and intelligent search tools to plan trips. Hotels and destinations are asking, how do we show up effectively in that environment?

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_RateGain Travel Technologies Limited_ _February 16, 2026_

We have built integrations that allow our hotel partners to distribute structured content and availability seamlessly into these emerging discovery channels. In simple terms, as search behaviour evolves, our customers remain visible and bookable. Another structural shift helping us win is our commercial model.

Across our integrated tech stack, we are increasingly moving towards performance-linked prici

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