Targeted to achieve $100 M ARR in teh medium term (lests say 4 years).   At this point forecast to achieve EBITDAF margin of 50%!   

Given the recent capital raise and close partnership with Bookings, and the fact they have one acquisitive foot on Serko, there is a strong pieline to support this target.   

With Zone corporate singups growing at a rate of 200%, and now representing 13% of online bookings, it appears to me that Serko may surporsie on the upsode here. Groewth rates above 40% for the next few years look possible.  

It is by no means cheap on normal valuations, but it appears to me that Serko has a massive disruptive tailwind behind it.