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Integration execution risk
View Risks →Rategain Travel Technologies Ltd — Q3 FY26
Rategain reported Q3 FY26 revenue of ₹540 crore, up 94% YoY, driven by the Sojern acquisition and organic growth of 4.1%.
bullish
high
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2-Minute Summary
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Rategain reported Q3 FY26 revenue of ₹540 crore, up 94% YoY, driven by the Sojern acquisition and organic growth of 4.1%. EBITDA grew 42% YoY, with consolidated margin at 16.1%. Reported PAT declined due to one-time exceptional costs of ₹34.6 crore; adjusted PAT grew 8% YoY. Organic EBITDA margin was 17.5%, in line with guidance. Management highlighted $12 million in annualized cost synergies from Sojern within 100 days, with full impact from Q1 FY27. Bookings grew 30% YoY in 9M, signaling strong pipeline. Q4 organic growth is expected to be double-digit. The company aims for a billion-dollar revenue by 2030. Key risk: integration execution and potential customer overlap may delay synergy realization.
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Bookings Growth (9M)
30%
+30% YoY
9-month bookings grew over 30% year-on-year, a strong lead indicator of future revenue.
Sojern Cost Synergies
$12M
annualized
Executed $12 million in annualized cost savings within 100 days of Sojern acquisition.
Adara Revenue Growth
19.8%
+19.8% YoY
Adara grew at 19.8% year-on-year in Q3, showing strong performance in martech.
Sojern Customer Count
13,000-14,000
N/A
Sojern adds approximately 13,000-14,000 customers, with less than 5% overlap with Rategain.
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Guidance and risk preview
Management expects double-digit organic revenue growth in Q4 FY26, driven by strong booking momentum and pipeline.
Combining Sojern's operations and customer base may face challenges; customer overlap is less than 5% but harmonization of reporting and systems is...
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