Yatra Online, Inc. (NASDAQ:YTRA) Q1 2021 Earnings Conference Call - Final Transcript
Sep 09, 2020 • 08:30 am ET
the same. As part of that, a final payment was made for the earn-out of the acquisition of approximately $11 million; and our current cash balances, as of 31st August 2020, is approximately $34 million.
Given our reduced burn rate, we believe we have adequate liquidity on our balance sheet to return to profitability.
With our optimized cost structure and newly launched higher margin initiatives, we believe we can now again breakeven at approximately 50% of our pre-COVID December 2019 quarter run rate of $22.2 million.
We are excited about our partnership with Zaggle on the expense management front as well. We view expense management as an integral part of our digital offering as we continue to diversify beyond our core portfolio of travel to become an end-to-end business solutions platform for our clients. Joining hands with Zaggle helps us drive efficiency for our clients by automating the expense management process. Our technology platforms complement each other, and we look forward to growing with Zaggle to drive lasting business impact for our clients.
A third-party report by MRFR put the Indian expense management software market as the fastest growing market globally at $593.3 million by the end of 2025, growing at a CAGAR of 14.1%.
Lastly, I would like to remind everyone that India's travel market and corporate travel market in particular was the fastest growing travel market globally, pre-pandemic, growing at a 12% CAGAR, and expected to reach 32 billion by 2020.
A large part of the corporate travel market was offline pre-pandemic, and we expect the shift from offline to online to accelerate as a result of the pandemic, benefiting online players like Yatra in the longer term.
This concludes our prepared remarks. Let me now open the call for Q&A. Manish, over to you.
Thanks, Dhruv. Holly, can you please open up the call for Q&A?