Argentina-based Despegar raised its full-year 2023 guidance for both profits and revenue based on what it said were operational improvements and strength in the Latin American markets it serves.
“Accordingly, we are raising our 2023 Adjusted EBITDA guidance range, and raising the lower end of our 2023 revenue guidance range,” said CEO Damian Scokin in a financial filing Wednesday. “Further, we expect to maintain above-market revenue growth and continue generating operational efficiencies in the foreseeable future, as our profitable growth strategy gains additional traction.”
The company said that its adjusted EBITDA is now expected to come in at the $105 million to $110 million range; previous guidance was $90 million to $100 million.
Meanwhile, the company now pegs full-year 2023 revenue to settle in the $690 million to $700 million range while previously it forecast $670 million to $700 million.
In November, citing its third quarter results, Despegar saw particular strength in its core markets of Brazil and Mexico.