Headlines from CHL:

• GTV (gross transaction value) growth of 172.8% pcp to over $146m
• Revenue growth of 133.7% pcp to over $38m
• Increasing average booking value by over 39% pcp
• Increasing revenue to CHL per booking of 31.6% pcp to $437

Looks like a good result. Revenue is up, PaulCamper (which covers the EU markets) not included in PCP comparisons due to it being recently acquired.

> Note PaulCamper numbers are not displayed here, as the business was acquired in December of FY23, and pcp results are not able to be shared for the FY22 vs FY23 period.

Wonder why?

FY23 revenue of $38.2M, up from $16M in FY22 is impressive, but includes some acquisitions. But even if we just look at revenue in Australia that's up 70%. 

Number of hirers on the platform is way up, too, to 500k. This included acquisitions but growing this number should mean increased marketing efficiency for online advertising spend, I think?

NZ and Spain all growing well. EU flat, but seems like focus has been on integrating platform which is well underway.

Couple of notes from the earnings call:

• Overall seeing longer average duration trips booked, particularly from New Zealand
• Temporary accomodation program (Governments hire campers as emergency accommodation) has been well received. State government contracts extended, insurers have started engaging, in discussions with governments ahead of summer. These aren't structured to have any fixed revenue component: Camplify is paid per hire.
• Have changed marketing approach in UK, and seeing good results. Using the playbook from Australia (using influencers, building brand) that has worked well, rather than previous focus there on targeting customers already committed to hiring.
• PaulCamper revenue is recognised at time of booking, Camplify revenue at time of hire.
• Insurance product Myway is has licensing in place and software platform to roll out in quiet season end of 2023. Planning to offer Accident Excess Reduction (AER) product to all EU countries by next year, so offer premium subscriptions currently only available in AU/NZ. UK to follow.
• Not seeing significant competition in key markets from other P2P platforms or car share (eg Uber)

The Myway insurance rollout was a key talking point. Seems good opportunity to increase revenue and margin per hire.