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YTRA

Yatra Online, Inc.

YTRA

Yatra Online, Inc. • NASDAQ
$1.69 ▲ 4.32% (+0.07)
Market Cap $101.96 M
52w High $2.00
52w Low $0.58
Dividend Yield 0%
P/E 169
Volume 79.36K
Outstanding Shares 60.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $3.509B ▲ $733.152M ▼ $47.898M ▼ 1.365% ▼ $0.77 ▼ $245.193M ▲
Q1-2026 $2.098B ▼ $1.052B ▼ $52.896M ▲ 2.521% ▲ $0.85 ▲ $230.957M ▲
Q4-2025 $2.19B ▼ $1.127B ▲ $-70.541M ▼ -3.221% ▼ $-1.14 ▼ $68.067M ▼
Q3-2025 $2.351B ▼ $1.025B ▲ $4.828M ▲ 0.205% ▲ $0.03 ▲ $136.21M ▲
Q2-2025 $2.363B $973.294M $-15.723M -0.665% $-0.099 $99.112M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $2.168B ▼ $12.942B ▼ $5.08B ▼ $5.254B ▲
Q1-2026 $2.191B ▲ $13.349B ▲ $5.55B ▲ $5.241B ▼
Q4-2025 $1.916B ▼ $13.208B ▲ $5.303B ▲ $5.404B ▲
Q3-2025 $2.003B ▼ $12.374B ▼ $4.598B ▼ $5.329B ▲
Q2-2025 $2.28B $12.693B $5.057B $5.225B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $47.898M ▼ $-240.246M ▼ $-16.427M ▲ $162.256M ▲ $-120.619M ▼ $-240.246M ▼
Q1-2026 $52.896M ▲ $1.351B ▲ $-289.333M ▼ $-690.402M ▼ $147.515M ▲ $1.351B ▲
Q4-2025 $-809.989K ▼ $-2.35M ▲ $-3.343M ▲ $5.618M ▲ $-172.552K ▲ $0 ▲
Q3-2025 $40.708M ▲ $-56.956M ▼ $-28.707M ▼ $-275.875M ▼ $-271.479M ▼ $-56.956M ▼
Q2-2025 $-187.695K $-6.981M $9.641M $-5.791M $-3.144M $0

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed steadily over the past five years, moving from a small base to a much larger scale as travel recovered and the corporate business deepened. Profitability has improved sharply: the company has shifted from heavy losses to operating results that now hover close to break-even, with positive operating cash-style earnings (EBITDA) in recent years. That said, it is still reporting accounting losses at the bottom line, so the business is not yet consistently profitable. The direction of travel is clearly better, but the margin profile is still thin and sensitive to any slowdown in demand or pricing pressure.

Balance Sheet

Balance Sheet The balance sheet has strengthened compared with a few years ago, with total assets and shareholder equity both growing meaningfully. Debt exists but does not dominate the capital structure, and it has not exploded as the company has scaled. Cash levels, however, are modest relative to the overall size of the business and the ongoing cash burn, which leaves less of a safety cushion than a more cash-rich balance sheet would provide. Overall, the company looks more robust than in the past, but it does not have an excess war chest, so discipline on spending and cash management remains important.

Cash Flow

Cash Flow The main financial weak spot is cash flow. Operating cash flow has been negative for several years in a row, meaning the business is still consuming cash rather than generating it on a sustained basis. Free cash flow is also negative, even though capital spending is quite light, which shows that the core operations, not big investments, are driving the cash shortfall. If revenue growth or margins were to disappoint, the combination of modest cash reserves and ongoing outflows could create pressure and might require additional funding or cost-cutting. On the positive side, the trend in losses is narrowing, so relatively small improvements in efficiency or pricing could have an outsized impact on future cash generation.

Competitive Edge

Competitive Edge Yatra has carved out a clear niche in corporate travel in India, serving a large base of enterprise customers and embedding its tools into their internal systems. This integration makes it inconvenient for clients to switch, which supports customer stickiness and a more recurring revenue profile than pure leisure travel agencies. At the same time, competition is intense: bigger rivals like MakeMyTrip and EaseMyTrip are also investing heavily in corporate offerings, and leisure travel remains a battleground with thin margins. The recent legal setback around exclusive rights to the “Yatra” name underscores that its durable edge is more about technology, service integration, and data than about branding alone. Overall, the company has a solid, defensible position in its chosen segment, but it operates in a market where competitive pressure will likely remain high.

Innovation and R&D

Innovation and R&D Innovation is a clear strength. Yatra has built much of its technology in-house, including booking platforms, back-end systems, and a sophisticated corporate travel management suite. The heavy use of artificial intelligence—through personalization engines, dynamic pricing tools, and the DIYA conversational travel assistant—shows a push to automate and differentiate the user experience. Its generative-AI-based expense management and modular, plug-and-play architecture point toward a strategy of turning travel technology into a broader enterprise platform. The key questions going forward are how quickly these innovations translate into higher-margin revenue and whether the company can stay ahead as rivals roll out similar AI-driven tools.

Summary

Yatra looks like a travel-tech business transitioning from recovery to scale: revenue has grown strongly, losses have narrowed, and the corporate travel focus gives it a more stable base than a pure leisure play. Financially, the direction is positive but not yet comfortable—profitability is fragile, cash flow is still negative, and cash on hand is not overly large, which leaves limited room for prolonged missteps. Strategically, the company’s strengths lie in its deep integration with corporate clients, data-rich platforms, and aggressive use of AI to reduce friction and add value. The main risks are continued cash burn, exposure to travel cycles, and relentless competition from larger online travel agencies. People following the company may want to watch whether AI-enabled products and the corporate travel platform can drive sustained margin improvement and a clear turn to consistently positive cash flow.

NEWS

November 26, 2025 · 9:46 AM UTC

Yatra Strengthens Leadership for Next Phase of Growth

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November 12, 2025 · 10:14 AM UTC

Yatra Online, Inc. Announces Results for the Three Months Ended September 30, 2025

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November 12, 2025 · 6:15 AM UTC

Yatra Online, Inc. Announces Results for the Three Months Ended September 30, 2025

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November 7, 2025 · 6:45 AM UTC

Yatra Online, Inc. to Host Second Quarter 2026 Financial Results Call on November 12, 2025

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