Irish travel tech firm Datalex – a global leader in the area of airline ecommerce solutions – has expressed confidence in its long-term growth prospects despite latest results showing a widening in the company’s gross losses and revenues.
Datalex’s newly-published 2024 annual results show a 13% jump in after-tax losses to $10.2m and a 5% drop in revenue to $27.5m. Teh widening loss was primarily due to increased interest and share-based payment costs; while the lower revenue was due to numerous customer contracts ending in 2023.
But, the future is bright, with Datalex recently signing up Canadian carrier Air Transat as the debut customer for its new DLX Pay company payment product.
Jonathan Rockett, Datalex CEO, said: “We achieved several positive developments in 2024, including the launch of our Offer and Order solution, Stellex, and the successful activation and migration of four airlines to this new platform. Additionally, we raised €25 million in equity to strengthen our balance sheet.
“Whilst it was disappointing to see revenue decline, after excluding non-recurring revenue, the underlying performance and momentum in platform revenue is promising. The financial performance in 2024 does not reflect the progress made, and I am confident that the actions we have taken will deliver stronger financial performance in 2025.
“2025 has kicked off strongly with the launch of a new modular standalone product, DLX Pay, which is planned to go-live with our launch customer, Air Transat, later this year.
“Our focus for 2025 is to drive strong platform revenue growth, improve margins, and achieve EBITDA profitability.”
Key Highlights
- Launched Stellex; Datalex’s next-generation Offer and Order Management platform with easyJet and Air Macau now live on Stellex.
- Successfully migrated Air China and Edelweiss on to the Stellex platform, who will benefit from the latest products enhancements.
- Went live with Air Macau with Stellex Offer Management in September 2024.
- Continued to deliver multiple projects and activations for our customers with a focus on growth for these airlines.
- Invested in developing modular standalone products for both our existing customers and new airline customers.
- As a result of this, the Group was in a position to announce in April 2025 the launch of DLX Pay, which is planned to go live with Air Transat later in 2025. DLX Pay is a payment platform built exclusively with airline challenges in mind. We believe there is a huge opportunity for airlines to unlock value in this space, and Datalex is well positioned to help airlines achieve this goal.
- In 2024, we continued to invest in our Pricing AI product. In 2025, we have added capabilities that enable airlines to leverage their own AI price prediction models, in addition to leveraging Datalex Pricing AI models.
- Raised €25 million in equity, which enabled the Group to fully repay its debt facility.
