Tuesday, July 23, 2024

Selina Hospitality GAAP EPS of -$0.16 beats by $0.16, revenue of $52.5M misses by $3M

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  • Selina Hospitality press release (NASDAQ:SLNA): Q2 GAAP EPS of -$0.16 beats by $0.16.
  • Revenue of $52.5M (+15.9% Y/Y) misses by $3M.
  • Occupancy rate was 51.4% in Q2 2023, compared to 45.9% for Q2 2022, a 12.0% increase.
  • On a same-store basis, total revenue increased by 6%, driven by an increase in same-store occupancy and TRevPABs.
  • Adjusted EBITDA improved to a $0.7 million loss in Q2 2023, compared to $5.8 million loss in Q2 2022.
  • Free cash flow before debt service totaled -$13.6 million for Q2 2023, compared to -$20.1 million in Q2 2022.
  • Outlook: For the second half of 2023, Selina will continue to be guided by the three strategic imperatives we started the year with: improving cash flow, advancing toward profitability, and building the brand.
  • The Company reaffirms its previously provided guidance of achieving positive Adjusted EBITDA and positive Operating Cash Flow for the year.

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