The key Booking.com agreement is up for renewal in May 2024 - the key driver of growth in recent years.

Seems a bit binary (but more likely it will get renewed) but if so and the current economics play out it will tip into profitability (inflection point) in FY25 (absent a world travel disaster - war/recession).

One to watch as could be interesting - especially if Booking.com eventually makes a takeover offer too.