The company reported operating revenue of INR 745.4 Cr, up 152.6% year-on-year (YoY), with Adjusted EBITDA growing ahead of revenue at 215.4%, on the back of healthy progress on integration of Sojern and operating leverage kicking in. Adjusted EBITDA margin stood at 22.7% in Q2 FY27 compared to 18.2% in same quarter last year. The Adjusted PAT stood at INR 90.8 Cr, up 78% YoY. The YoY growth reflected the scale of the combined RateGain and Sojern platform, led by continued growth in MarTech and DaaS verticals. Margins remained healthy, reflecting operating discipline across the business.
RateGain’s travel intent data and AI-led delivery set it apart within MarTech. Hotels are placing greater focus on growing their share of direct bookings, and as one of the few scaled AI-led platforms in this space, RateGain reaches travellers while they are planning a trip and turns that intent into bookings on the hotel’s own channels. This helped its Properties business, which accounts for 44.7% of MarTech revenue, grow more than 20% YoY in the first half.
Destination Marketing Organizations (DMOs) rely on the same intent data to reach prospective visitors, and on RateGain’s measurement tools to see the return on their marketing. That has made RateGain a preferred provider for several DMO customers. Its Destinations business, which accounts for 39.7% of MarTech revenue, also grew more than 20% YoY in the first half.
In APMEA, Q2 new sales were more than three times the year-earlier level as RateGain continues to strengthen its presence in the region. For the second half of FY27, RateGain is focused on strengthening Sojern’s product, go-to-market and AI capabilities and on cross-sell across its base of more than 14,000 customers.
Free Cash flow stood at INR 282.3 Cr for the first half ended September 30, 2026, representing a free cash flow conversion of 87.0%. Net debt outstanding stood at INR 494.0 Cr as on September 30, 2026. Following its payment on November 5, 2026, RateGain has repaid 43% of the loan taken for the Sojern acquisition.
Bhanu Chopra, Founder & Managing Director, RateGain Travel Technologies Limited, said: “Our customers are operating in a market where demand keeps shifting, and they are relying on our data and AI to stay ahead of it. We remain positive about the future and focused on long-term growth. That means adding customers, deepening how much of our platform each of them uses, and extending our AI into more of their everyday work. In the second half, our priority is to bring the full RateGain and Sojern platform to more of these customers and to execute well”.
“Our Q2 performance reflects the progress we are making in building a stronger, more profitable business. Adjusted EBITDA grew ahead of revenue, margins remained healthy, and our earnings continued to translate into strong cash flow. This performance gives us confidence to accelerate investments in product innovation, AI and market expansion, while maintaining a disciplined approach to capital allocation. We remain focused on translating the scale of our platform into sustainable, profitable growth and long-term value creation”, said Chetan Garg, Chief Financial Officer, RateGain Travel Technologies Limited.
