Tripadvisor (NASDAQ: TRIP ) reported Q4 earnings Thursday before the bell, and the stock shot down as much as 7% since the market opened, dropping by nearly 9%. In my last note onI’m a retired Wall Street PM specializing in TMT; since kickstarting my career, I’ve spent over two decades in the market navigating the technology landscape, focusing on risk mitigation through the dot com bubble, credit default of ‘08, and, more recently, with the AI boom. In one word, what I’d like my service to revolve around i ...

Tripadvisor, Inc. (NASDAQ:TRIP) Q4 2024 Earnings Conference Call February 20, 2024 8:30 AM ET Company Participants Angela White - VP, IR Matt Goldberg - President and CEO Mike Noonan - CFO Conference Call Participants Stephen Ju - UBS Naved Khan - B. Riley Securities Richard Clarke - Bernstein Trevor Young - Barclays Dae Lee - JPMorgan James Lee - Mizuho Securities USA Operator Good day, and thank you for standing by. Welcome to Tripadvisor Fourth Quarter 2024 Conference Call. At this time, all participants ...

Business Segments - Tripadvisor operates across three business segments: Brand Tripadvisor, Viator, and TheFork, connecting a global audience with travel experiences [207]. - Brand Tripadvisor has over 1 billion user-generated reviews and opinions on more than 9 million experiences, attracting hundreds of millions of visitors annually [208]. - Viator offers nearly 400,000 bookable experiences from over 65,000 operators, focusing on enhancing brand loyalty and user experience [209]. - TheFork has a network of approximately 55,000 partner restaurants across 11 countries, with nearly 40 million app downloads and over 20 million reviews [210]. Financial Performance - Revenue for fiscal year 2024 was $1,835 million, a 3% increase compared to $1,788 million in 2023, and a 20% increase from $1,492 million in 2022 [231]. - Total costs and expenses for fiscal year 2024 were $1,743 million, reflecting a 5% increase from $1,662 million in 2023, and a 19% increase from $1,391 million in 2022 [231]. - Net income for fiscal year 2024 was $5 million, a 50% decrease compared to $10 million in 2023, and a 50% decrease from $20 million in 2022 [231]. - Adjusted EBITDA for fiscal year 2024 was $339 million, a 1% increase from $334 million in 2023, and a 13% increase from $295 million in 2022 [231]. Segment Revenue Changes - Revenue from the Brand Tripadvisor segment decreased by $82 million to $949 million in 2024, an 8% decline compared to $1,031 million in 2023 [235]. - Tripadvisor-branded hotels revenue decreased by $74 million to $585 million in 2024, primarily due to a decrease in hotel meta revenue [239]. - Viator segment revenue increased by $103 million to $840 million in 2024, a 14% increase compared to $737 million in 2023 [245]. - TheFork segment revenue increased by $27 million to $181 million in 2024, an 18% increase compared to 2023, driven by higher booking volumes and pricing adjustments [249]. Expenses and Costs - Total marketing expenses rose by $24 million to $729 million in 2024, primarily due to increased costs in the Viator and TheFork segments [260]. - Personnel costs increased by $1 million to $595 million in 2024, with stock-based compensation rising by $24 million to $120 million [266]. - General and administrative expenses increased by $12 million to $91 million in 2024, largely due to a $10 million accrual for a potential regulatory settlement [278]. - Cost of sales increased by $12 million to $131 million in 2024, primarily due to higher direct costs associated with credit card processing fees [254]. Debt and Financing - The company plans to acquire Liberty TripAdvisor for approximately $435 million, including $392 million in cash and shares, with an expected closing in Q2 2025 [216]. - A $500 million Term Loan B Facility was issued on July 8, 2024, maturing in 2031, to redeem outstanding Senior Notes [219]. - The Company completed the sale of $345 million of the 2026 Senior Notes, which have an interest rate of 0.25% per annum, payable semi-annually until maturity on April 1, 2026 [307]. - The Company issued a $500 million Term Loan B Facility on July 8, 2024, maturing on July 8, 2031, with an interest rate of SOFR plus 2.75% [308]. Cash Flow and Investments - During the year ended December 31, 2024, net cash provided by operating activities was $144 million, a decrease of $91 million compared to 2023 [319]. - The Company repurchased 1,366,385 shares of its common stock at an average price of $18.28 per share, totaling $25 million during the year ended December 31, 2024 [311]. - Net cash used in investing activities increased by $10 million in 2024 compared to 2023, primarily due to higher capital expenditures [321]. Market Outlook and Growth - The global experiences market is expected to grow as consumers increasingly book experiences online, benefiting Tripadvisor's segments [214]. - Overall, the company remains optimistic about future growth, citing strong demand and a robust pipeline of new products [353]. - Market expansion efforts led to a 25% increase in international sales, particularly in the Asia-Pacific region [353]. - The company provided guidance for the next quarter, expecting revenue to be between $62 billion and $64 billion, indicating a growth rate of 5% to 7% [353]. Regulatory and Audit Matters - The company is under audit by the IRS and various other tax authorities, which could materially affect its financial position and results of operations [333]. - The company made a payment of $141 million to the IRS in connection with an audit settlement during the second quarter of 2024 [314]. Currency and Foreign Operations - A hypothetical 10% decrease in foreign currency exchange rates relative to the U.S. dollar would generate an estimated unrealized loss of approximately $35 million related to a decrease in net assets as of December 31, 2024 [347]. - The company recorded net foreign currency exchange losses of $3 million, $5 million, and $9 million for the years ended December 31, 2024, 2023, and 2022, respectively [348].

Exhibit 99.1 Tripadvisor Reports Fourth Quarter and Full Year 2024 Financial Results NEEDHAM, MA, February 20, 2025 — Tripadvisor, Inc. (Nasdaq: TRIP) ("Tripadvisor" or the "Company") today announced financial results for the fourth quarter and full year ended December 31, 2024. "Across Tripadvisor Group, we exited 2024 with momentum, delivering meaningful progress against our strategic priorities, and strengthening our portfolio revenue and adjusted EBITDA mix," said Chief Executive Officer Matt Goldberg. ...

NEEDHAM, Mass., Jan. 30, 2025 /PRNewswire/ -- Tripadvisor, Inc. (NASDAQ: TRIP) announced today that at 7:05am ET on Thursday, February 20, 2025, the company will post its fourth quarter and full year 2024 financial results on its investor relations website at ir.tripadvisor.com. The same day, at 8:30am ET, the company will host a conference call to answer questions regarding its financial results. The event will be webcast live and can be accessed at ir.tripadvisor.com. A replay will be available on the web ...

Trend Overview - Tripadvisor launches its first Trendcast report, exploring trends reshaping travel and predictions for the future [1] - The report is based on search, booking, behavioral data, and user-generated content from over one billion reviews and contributions [2] - The Trendcast serves as a roadmap for travelers and industry leaders, highlighting emerging trends and cultural shifts [3][4] Key Travel Trends Beauty Voyagers - Beauty-minded travelers are seeking unique treatments, with skincare treatment mentions up 87% in Tripadvisor forums and beauty bookings up 400% [4] - Popular destinations include Ayurvedic retreats in Sri Lanka and South Korean spas featuring snail mucin treatments [5] Time Tripping - Remote and hybrid work has redefined travel, with "work-cations" becoming mainstream [6] - Tripadvisor searches for 'open late' and '24-hours' have more than doubled (110%) over the last year [6] - Example: The Nautilus Maldives offers no schedules or closing times, including 2 a m deep-tissue massages and 24-hour dining [7] Written in the Stars - Spiritual experiences are in demand, with searches for 'astrology,' 'tarot,' and 'full moon' bookings up over 500% in the last two years [8] - Example: The Standard in London offers monthly zodiac retreats, while Costa Navarino's Mandarin Oriental includes crystal healing readings on its spa menu [9] Investigative Eating - Conversations around food sustainability are up 65% across reviews and forums [10] - Attractions like farms and farmers markets are growing 1,400% faster than the broader food and drink experience category [10] - Example: Travelers visit destination restaurants like Don Julio in Argentina or participate in seasonal events like maple syrup tapping in Vermont [11] Nano Neighborhoods - Travelers are focusing on specific neighborhoods, with neighborhood attraction pages on Tripadvisor growing 134% faster than the average for attractions [12] - Example: Sevilla's Centro Histórico saw traffic grow by 97% year-on-year, and Chicago's Wrigleyville saw a 72% year-on-year increase [13] Solo Social - Solo travel is now aspirational, with 36% of solo travelers citing 'meeting new people' as a primary motivation [14] - Solo travelers are 60% more likely to mention 'making friends' in their reviews [14] - Example: Small group tours in London's historical pubs or full-day tours of Iceland's south coast cater to solo travelers [15] Methodology - The Trendcast is based on data from Tripadvisor's global user base, including searches, reviews, clicks, page views, bookings, and forum conversations over the last two years [15] About Tripadvisor - Tripadvisor is the world's largest travel guidance platform, helping millions of users each month with planning, booking, and taking trips [16] - The platform features over one billion reviews and contributions, offering guidance on accommodations, experiences, restaurants, and nearby attractions [16] - Tripadvisor LLC is a wholly owned subsidiary of Tripadvisor, Inc (Nasdaq: TRIP) [17]

TripAdvisor (TRIP) shares rallied 13.9% in the last trading session to close at $17.93. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.2% gain over the past four weeks.The upswing in share-price came after an indication of third-party takeover interest showed up in a filing by holding company Liberty TripAdvisor Holdings.The news comes in the middle of a longer-running transaction in which Tripadvisor has ...

London Takes The Top Spot – Plus, U.S. Favorite Places for Food, Culture, Solo Travel and MoreNEEDHAM, Mass., Jan. 9, 2025 /PRNewswire/ -- Tripadvisor®, the world's largest travel guidance platform, today announced its first Travelers' Choice® Awards category for 2025: Best of the Best Destinations. London, UK Each year, Tripadvisor pores over millions of reviews shared by a global community of travelers to uncover the most trusted recommendations, helping future explorers create unforgettable memories ...

Second Wind Capital is a value oriented investment service with a strong recent track record of exceptional outperformance. The focus is mostly small-cap value and special situation equities. From January 1, 2020–December 31, 2023, the flagship account has compounded at 46% (pre-tax) per year.I've been following Tripadvisor, Inc. (NASDAQ: TRIP ) for a few years now. Although I haven't gotten around to writing about it on Seeking Alpha's Premium site, until today. To be clear, in the summer of 2023, within o ...

NEEDHAM, Mass., Dec. 19, 2024 /PRNewswire/ -- Tripadvisor, Inc. (NASDAQ: TRIP) ("Tripadvisor") and Liberty TripAdvisor Holdings, Inc. (OTCMKTS: LTRPA, LTRPB) ("Liberty TripAdvisor") announced that they have entered into an agreement and plan of merger (the "Merger Agreement") whereby Tripadvisor will acquire Liberty TripAdvisor (the "Merger").  In connection with the Merger, (i) the shares of Liberty TripAdvisor Series A Common Stock and Series B Common Stock issued and outstanding immediately prior to the ...