Mondee Cancels Third Quarter 2024 Financial Results Webcast

Rhea-AI Summary

Mondee Holdings (Nasdaq: MOND), a travel marketplace and AI technology company, has announced the cancellation of its webcast for the third quarter 2024 financial results covering the period ended September 30, 2024. The company directed stakeholders to their investor relations website for additional information.

Positive

• None.

Negative

• Unexpected cancellation of Q3 2024 earnings webcast, which may raise concerns about financial transparency
• Lack of explanation for the earnings call cancellation could signal potential underlying issues

Insights

Financial Analyst

The cancellation of Mondee's Q3 2024 earnings webcast without providing an explanation or rescheduled date is concerning and raises red flags. For a public company, sudden cancellations of earnings calls typically signal potential issues that require additional time for review or validation. This behavior deviates from standard market practices where companies maintain consistent communication with investors. Key concerns include: lack of transparency, potential internal financial review requirements, or material developments that need resolution before public disclosure.

With a relatively small market cap of $99.6M, MOND's investor communication practices are particularly important for maintaining market confidence. The travel industry marketplace sector demands clear financial visibility and this cancellation may impact investor sentiment and trading volumes in the near term.

AUSTIN, Texas, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Mondee Holdings, Inc. (Nasdaq: MOND) (“Mondee” or the “Company”), a leading travel marketplace and artificial intelligence (AI) technology company, announced today that it has cancelled the Company’s webcast on the third quarter 2024 financial results for the period ended September 30, 2024.

For additional information, please visit: https://investors.mondee.com.

About Mondee Holdings, Inc. and Subsidiaries

Established in 2011, Mondee is a leading travel marketplace and artificial intelligence (AI) technology company with its headquarters based in Austin, Texas. The Company operates 21 offices globally across the United States and Canada, Brazil, Mexico, India, and Greece. Mondee is driving change in the leisure and corporate travel sectors through its broad array of innovative solutions. Available both as an app and through the web, the Company’s platform processes over 50 million daily searches and generates a substantial transactional volume annually. Mondee Marketplace includes access to Abhi, one of the most powerful and fully integrated AI travel planning assistants in the market. Mondee’s network and marketplace include approximately 65,000 travel experts, 500+ airlines, and over one million hotels and vacation rentals, 30,000 rental car pickup locations, and 50+ cruise lines. The Company also offers packaged solutions and ancillary offerings that serve its global distribution. On July 19, 2022, Mondee became publicly traded on the Nasdaq Global Market under the ticker symbol MOND. For further information, visit: www.mondee.com.

Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by words such as: “believe,” “could,” “may,” “expect,” “intend,” “potential,” “plan,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the Company’s future growth, performance, business prospects and opportunities, strategies, expectations, future plans and intentions or other future events. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Management believes that these forward-looking statements are reasonable as and when made. However, the Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the ability to implement business plans and forecasts, the outcome of any legal proceedings that may be instituted against the Company or others and any definitive agreements with respect thereto, the ability of the Company to grow and manage growth profitably, retain management and key employees, and maintain relationships with our distribution network and suppliers, the ability of the Company to maintain compliance with Nasdaq’s listing standards, the expected changes to the Company’s capital structure, and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the three months ended June 30, 2024 filed with the U.S. Securities and Exchange Commission (the “SEC”), and in the Company’s subsequent filings with the SEC. There may be additional risks that the Company does not presently know of or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. Except as required by law, Mondee undertakes no obligation to update publicly any forward-looking statements for any reason.

For Further Information, Contact:

Public Relations
pr@mondee.com

Investor Relations
ir@mondee.com

FAQ

Why did Mondee (MOND) cancel its Q3 2024 earnings webcast?

The press release does not provide a specific reason for the cancellation of Mondee's Q3 2024 earnings webcast.

When was Mondee's (MOND) Q3 2024 earnings period ended?

Mondee's third quarter 2024 financial results cover the period ended September 30, 2024.

Where can investors find additional information about Mondee's (MOND) Q3 2024 results?

Investors can find additional information by visiting Mondee's investor relations website at investors.mondee.com.