Travelzoo(US:TZOO) Prnewswireยท2024-07-25 11:01Financial Performance - Consolidated revenue for Q2 2024 was $21.1 million, consistent year-over-year, with a slight increase to $21.2 million in constant currencies [18] - Consolidated operating profit was $4.0 million, with a non-GAAP operating profit of $4.8 million, excluding certain expenses [19][24] - Net income attributable to Travelzoo was $2.9 million for Q2 2024, or $0.23 per share, compared to $0.17 per share in the prior-year period [18][30] Business Segments - North America business segment revenue remained consistent year-over-year at $14.1 million, with an operating profit of $3.7 million, or 26% of revenue [3] - Europe business segment revenue increased by 1% year-over-year to $6.0 million, with an operating profit of $512,000, compared to an operating loss in the prior-year period [4] - Revenue from Jack's Flight Club, in which Travelzoo has a 60% ownership interest, increased by 9% year-over-year to $1.1 million, with a 19% increase in premium subscribers [5] Cash Flow and Position - Cash flow from operations was $3.1 million, with consolidated cash, cash equivalents, and restricted cash totaling $13.2 million as of June 30, 2024 [2][18] - The company repurchased 800,000 shares of its outstanding common stock during Q2 2024 [10] Membership and Subscribers - As of June 30, 2024, Travelzoo had 30.8 million members worldwide, consistent with the previous year [8] - Jack's Flight Club had 2.2 million subscribers, including premium subscribers, also consistent with the previous year [8] Future Outlook - For Q3 2024, the company expects year-over-year revenue growth, albeit at a slower pace than in 2023, and anticipates higher profitability [10] - Substantial revenue growth is expected in 2025 due to additional revenue from membership fees introduced in January 2024 [21]