TripAdvisor(TRIP) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenue for Q1 2025 was $398 million, a 1% increase year-over-year[7] - GAAP net loss for Q1 2025 was $11 million, or ($0.08) diluted EPS, an improvement of 81% compared to a loss of $59 million in Q1 2024[7] - Non-GAAP net income for Q1 2025 was $21 million, or $0.14 diluted EPS, a 26% increase from $17 million in Q1 2024[7] - Adjusted EBITDA for Q1 2025 was $44 million, representing 11.0% of revenue, down 6% from $47 million in Q1 2024[7] - Total costs and expenses for Q1 2025 were $413 million, a 1% increase year-over-year[8] - Net income for the three months ended March 31, 2025, was a loss of $11 million, an improvement from a loss of $59 million in the same period last year[24] - Net cash provided by operating activities was $102 million for the three months ended March 31, 2025, compared to $139 million in the prior year, reflecting a decrease of 26.6%[24] - The total stockholders' equity decreased to $643 million from $943 million, indicating a decline of 31.9%[22] - GAAP net income for FY 2024 was $4.9 million, down 50% year-over-year[44] - Total revenue for FY 2024 was $1,834.6 million, reflecting a year-over-year growth of 3%[44] - Adjusted EBITDA for FY 2024 was $338.5 million, with a margin of 18.5%, while Q4 adjusted EBITDA was $72.8 million, down 13% year-over-year[50] Revenue Growth - Viator revenue grew by 10% year-over-year to $156 million, with gross bookings value reaching $1.1 billion[12] - TheFork revenue increased by 12% year-over-year to $46 million, with total bookings growing approximately 5%[12] - Total revenue for FY 2024 was $1,834.6 million, with Q4 revenue at $411.1 million, reflecting a year-over-year growth of 1%[50] - GAAP Total Viator Segment Revenue increased by 23% in Q1 2024, with a Non-GAAP growth of 23% on a constant currency basis[42] - GAAP Total TheFork Segment Revenue grew by 17% in Q1 2024, with a Non-GAAP growth of 16% on a constant currency basis[42] - Viator's revenue increased to $840.1 million in FY 2024, achieving a year-over-year growth of 14%[44] - TheFork's revenue reached $180.8 million in FY 2024, reflecting an 18% year-over-year growth[44] Costs and Expenses - Restructuring costs incurred in 2025 were estimated at $10 million, primarily in the Brand Tripadvisor segment[15] - Long-term debt increased significantly to $1,167 million, up from $831 million, marking a rise of 40.5%[22] - Marketing expenses for FY 2024 totaled $728.6 million, accounting for 39.8% of total revenue[50] - Personnel costs for FY 2024 were $475.2 million, representing 26% of total revenue[50] Cash and Liquidity - Cash and cash equivalents as of March 31, 2025, were approximately $1.2 billion, an increase of $90 million from December 31, 2024[8] - Cash and cash equivalents at the end of the period were $1,154 million, down from $1,171 million a year earlier[24] - The company reported a net increase in cash of $90 million during the quarter, compared to a decrease of $104 million in the same period last year[24] Strategic Initiatives - The merger with Liberty TripAdvisor Holdings, Inc. was completed on April 29, 2025, with an aggregate transaction price of approximately $430 million[13] - The company plans to focus on expanding its market presence and enhancing user engagement through new product offerings and technology advancements[52] - Tripadvisor aims to be the world's most trusted source for travel and experiences, leveraging its brands and technology to connect a global audience with partners[59] - The company connects people to experiences worth sharing, aiming to enhance user engagement through rich content and travel guidance[59] Operational Metrics - Gross Booking Value (GBV) for the Viator platform is used as an operational measure to assess engagement and economic activity, although it is not an indicator of revenue[53] - The company regularly reviews its operational metrics to improve accuracy and transparency for investors[55] Forward-Looking Statements - Tripadvisor's future financial performance may include both GAAP and non-GAAP measures, with expectations subject to risks and uncertainties[58] - The company does not assume any obligations to update forward-looking statements, which may differ from actual results due to various risks[58] - Tripadvisor's financial results may vary significantly from expectations due to known and unknown factors[58]