It depends if they report revenue gross or net. If it is gross that means they recognize all booked travel as revenue (and earn a margin on top of that) instead of just recognizing their fee as revenue. In that case it would be much worse margins than a mature SaaS company.
If I had to guess based on the figure, I would guess gross but I'm not sure.
Good to hear! If there's a way to contact you guys (LinkedIn or otherwise), I'm working on a project that has some adjacency so would love to chat if you guys have some time.
This looks really awesome! Just curious, have you considered offering a "value added" pricing model for those who don't want to pay for a subscription? Meaning, you'd take some percent of revenue you've saved them (either as a 1x fee or as a recurring subscription as that customer stays on)?
If I had to guess based on the figure, I would guess gross but I'm not sure.