TripAdvisor(TRIP) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $553 million, a 4% increase year-over-year[6] - Net income for Q3 2025 was $53 million, or $0.43 diluted EPS, representing a 38% increase from $39 million in Q3 2024[8] - Non-GAAP net income for Q3 2025 was $80 million, or $0.65 diluted EPS, a 10% increase from $72 million in Q3 2024[8] - Adjusted EBITDA for Q3 2025 was $123 million, or 22.2% of revenue, compared to $122 million in Q3 2024[8] - Total costs and expenses for Q3 2025 were $483 million, a 4% increase year-over-year[10] - Adjusted EBITDA for the fiscal year was $339 million, with Q3 contributing $122 million[40] - Non-GAAP net income for the fiscal year reached $188 million, with Q3 showing $72 million[40] - GAAP total revenue growth was 4% for the fiscal year, while non-GAAP total revenue growth on a constant currency basis was also 3%[40] - GAAP net income (loss) for Q3 was $53 million, compared to a loss of $11 million in Q2[40] Revenue Breakdown - Viator revenue for Q3 2025 was $294 million, reflecting a 9% year-over-year growth[14] - TheFork revenue for Q3 2025 was $63 million, a 28% year-over-year increase[14] - The total revenue growth for the Viator segment was 14% for the fiscal year, with constant currency growth at 14%[40] - TheFork segment revenue growth was 18% for the fiscal year, with constant currency growth at 19%[40] - Tripadvisor-branded hotels generated $948.8 million in revenue for FY 2024, with a year-over-year decline of 8%[42] - Viator's revenue increased by 14% year-over-year to $840.1 million in FY 2024[42] - TheFork's revenue for FY 2024 was $180.8 million, with a year-over-year growth of 18%[42] Assets and Liabilities - Total assets increased to $2,845 million as of September 30, 2025, up from $2,561 million on December 31, 2024, representing a growth of 11.1%[20] - Total current liabilities rose to $1,150 million as of September 30, 2025, compared to $628 million on December 31, 2024, marking a significant increase of 83.1%[20] - Long-term debt stood at $821 million as of September 30, 2025, slightly down from $831 million on December 31, 2024[20] - Stockholders' equity decreased to $707 million as of September 30, 2025, from $943 million at the end of 2024, a decline of 25.0%[20] Cash Flow and Expenditures - Cash and cash equivalents at the end of the period were $1,218 million, up from $1,064 million at the beginning of the period, indicating a net increase of $154 million[22] - The company reported a net cash provided by operating activities of $45 million for the three months ended September 30, 2025, compared to a net cash used of $44 million in the same period of 2024[22] - The company incurred capital expenditures of $19 million for the three months ended September 30, 2025, compared to $20 million in the same period of 2024[22] - Capital expenditures for the fiscal year amounted to $74 million, with Q3 at $20 million[40] Operational Metrics - The number of experience bookings on Viator increased by approximately 18% year-over-year to about 6.6 million[14] - Gross bookings value (GBV) reached $1.3 billion in Q3 2025, reflecting a year-over-year growth of approximately 15%[14] - The company continues to focus on operational metrics such as Gross Booking Value (GBV) to assess marketplace health and engagement[51] Strategic Initiatives - The company expects at least $85 million in annualized gross cost savings, fully realized by 2027[4] - Forward-looking statements regarding Tripadvisor's future financial performance and strategic initiatives involve known and unknown risks and uncertainties[56] - Tripadvisor aims to be the world's most trusted source for travel and experiences, leveraging its brands and technology[57] Other Financial Insights - Stock-based compensation expense totaled $120 million for the fiscal year, with Q3 accounting for $29 million[40] - The estimated effects of foreign currency exchange rates on revenue indicated a 1% impact on total revenue growth for Q3[40] - The company reported a decline in Adjusted EBITDA growth rates across segments, with the Brand segment down 23% year-over-year[49] - Tripadvisor's unique user metrics may not accurately reflect the actual number of users due to multiple accounts and device usage[54] - Consolidated Adjusted EBITDA is a non-GAAP measure, excluding certain operating expenses, and is defined in relation to GAAP measures[55]