Mondee Holdings, Inc. (MOND) | Investment Case

1. Company Snapshot

1.a. Company Description

Mondee Holdings, Inc.operates as a travel technology, service, and content company in the leisure and corporate travel markets.It delivers a technology platform of SaaS, mobile, and cloud products and services to a global customer base.

The company is connecting a network of 50,000 leisure travel advisors and gig economy workers to 500 airlines and approximately 1 million hotel and vacation rentals, packaged solutions, and ancillary offerings.The company was founded in 2011 and is headquartered in Austin, Texas with 17 offices in the U.S. and Canada, and operations in India, Thailand, and Ireland.

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1.b. Last Insights on MOND

Mondee Holdings, Inc. recent performance was negatively driven by the company's restructuring efforts and potential asset sale to a newly formed entity. The proposed sale, announced in January 2025, could lead to a change in management, with Prasad Gundumogula retaining a 75% equity stake. This uncertainty has likely contributed to the recent market volatility. Additionally, the company's announcement of entering into a restructuring support agreement may indicate financial difficulties, further hurting investor sentiment.

1.c. Company Highlights

Last Price	0.0
Change Percentage	0.00%
Open	0.0
Previous Close	0.0
Market Cap ( Millions)	0
Volume	400
Year High	0.38
Year Low	0.0
M A 50	0.0
M A 200	0.0

FCF Yield	-38466.64%
Dividend Yield	0.00%
ROE	-129.60%
Debt / Equity	408.15%
Net Debt / EBIDTA	-1155.85%
Price To Book	0.0
Price Earnings Ratio	-0.0
Price To FCF	-0.0
Price To sales	0.0
EV / EBITDA	-11.57

2. Transcript Summary

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3. NewsRoom

Tabhi acquires Mondee out of Chapter 11 Restructuring and Boosts Liquidity and Capital Structure

Apr -04

Source: globenewswire.com

Mondee Takes Strategic Action to Position the Company for Long-Term Growth

Jan -15

Source: globenewswire.com

Mondee Announces Receipt of Nasdaq Delist Determination Notice

Dec -01

Source: globenewswire.com

Mondee Announces Receipt of Non-Compliance Letter from Nasdaq; Prasad Gundumogula takes leave of absence as CEO; Mondee Appoints Jesus Portillo as CEO

Nov -26

Source: globenewswire.com

Mondee Reschedules Webcast on Third Quarter 2024 Financial Results to November 18, 2024

Nov -12

Source: globenewswire.com

Mondee Reschedules Webcast on Third Quarter 2024 Financial Results to November 12, 2024

Nov -07

Source: globenewswire.com

Mondee to Hold Webcast on Third Quarter 2024 Financial Results on November 8, 2024

Oct -25

Source: globenewswire.com

Mondee Finalizes Long-Term Extensions of Term Loan and Preferred Equity with Receipt of $15M Letter of Credit

Sep -17

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.00%)

6. Segments

Travel Marketplace

Expected Growth: 10%

Mondee Holdings' Travel Marketplace growth is driven by increasing demand for personalized travel experiences, rise of mobile bookings, and expansion into new markets. Additionally, strategic partnerships, investments in AI-powered booking tools, and a user-friendly platform contribute to the 10% growth rate.

Software-as-a-Service Platform

Expected Growth: 11%

Mondee Holdings' Software-as-a-Service platform growth is driven by increasing adoption of cloud-based solutions, rising demand for travel and expense management, and expansion into new markets. The platform's scalability, flexibility, and cost-effectiveness also contribute to its growth, as well as the company's strategic partnerships and investments in innovation.

7. Detailed Products

Airfare Marketplace

A platform that provides access to a vast inventory of airfares, allowing customers to compare and book flights from various airlines

Hotel Marketplace

A platform that provides access to a vast inventory of hotel rooms, allowing customers to compare and book accommodations from various hotels

Car Rental Marketplace

A platform that provides access to a vast inventory of car rentals, allowing customers to compare and book car rentals from various providers

Travel Content API

An API that provides access to a vast inventory of travel content, including flights, hotels, and car rentals

Mondee NEXUS

A travel technology platform that provides a suite of tools and services for travel agencies and online travel agencies

IATA NDC API

An API that provides access to airline content using the IATA NDC standard

8. Mondee Holdings, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Mondee Holdings, Inc. operates in a highly competitive industry, and there are many substitutes available to customers. However, the company's strong brand recognition and customer loyalty help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Mondee Holdings, Inc. has a large customer base, but individual customers do not have significant bargaining power. However, the company's reliance on a few large customers increases the bargaining power of these customers.

Bargaining Power Of Suppliers

Mondee Holdings, Inc. has a diverse supplier base, and no single supplier has significant bargaining power. The company's large scale of operations also gives it bargaining power over its suppliers.

Threat Of New Entrants

The travel industry has moderate barriers to entry, and new entrants can enter the market with significant investment. However, Mondee Holdings, Inc.'s established brand and customer base provide a competitive advantage.

Intensity Of Rivalry

The travel industry is highly competitive, and Mondee Holdings, Inc. faces intense competition from established players and new entrants. The company's strong brand and customer loyalty help to mitigate the intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	80.07%
Debt Cost	3.95%
Equity Weight	19.93%
Equity Cost	3.38%
WACC	3.83%
Leverage	401.84%

11. Quality Control: Mondee Holdings, Inc. passed 2 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Inefficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

RAVE

A-Score: 5.3/10

Value: 5.0

Growth: 6.0

Quality: 8.8

Yield: 0.0

Momentum: 8.5

Volatility: 3.7

1-Year Total Return ->

Lindblad Expeditions

A-Score: 5.0/10

Value: 8.3

Growth: 5.7

Quality: 5.1

Yield: 0.0

Momentum: 7.5

Volatility: 3.3

1-Year Total Return ->

Cannae Holdings

A-Score: 4.7/10

Value: 8.4

Growth: 1.6

Quality: 3.8

Yield: 3.0

Momentum: 4.0

Volatility: 7.7

1-Year Total Return ->

Leggett & Platt

A-Score: 4.4/10

Value: 9.6

Growth: 1.8

Quality: 4.7

Yield: 6.0

Momentum: 1.0

Volatility: 3.3

1-Year Total Return ->

Mondee

A-Score: 3.8/10

Value: 10.0

Growth: 3.9

Quality: 4.1

Yield: 0.0

Momentum: 5.0

Volatility: 0.0

1-Year Total Return ->

Big 5 Sporting Goods

A-Score: 3.7/10

Value: 9.8

Growth: 0.6

Quality: 3.6

Yield: 5.0

Momentum: 1.5

Volatility: 2.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

11.95%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

3.83%

Mondee Holdings, Inc. - US4657121079

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on MOND

1.c. Company Highlights

More Volatile

Average Yield

Average Growth

Earnings Miss

Revenues Miss

Average Quality

Lower Quality

Cheaper

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.00%)

6. Segments

Travel Marketplace

Expected Growth: 10%

Software-as-a-Service Platform

Expected Growth: 11%

7. Detailed Products

Airfare Marketplace

Hotel Marketplace

Car Rental Marketplace

Travel Content API

Mondee NEXUS

IATA NDC API

8. Mondee Holdings, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Mondee Holdings, Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.0$

Current Price

0.0$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA