Q4 2024 Tripadvisor Inc Earnings Call Transcript
Key Points
- Tripadvisor Inc (TRIP) exceeded expectations on both top and bottom lines for Q4 and the full year 2024, with consolidated revenue growing 5% to $411 million.
- Viator and TheFork segments contributed more than half of the company's revenue, delivering $52 million of incremental adjusted EBITDA versus the prior year.
- Viator's direct booking volume grew nearly 30% for the full year, with the mobile app being the fastest-growing channel, showing an 80% increase in booking volume.
- TheFork segment achieved full-year profitability for the first time, with revenue growing 18% to $181 million.
- Tripadvisor Inc (TRIP) is leveraging AI and data to enhance product offerings and improve customer experience, positioning itself for future growth.
- Brand Tripadvisor's revenue declined by 6% in Q4, with branded hotels revenue decreasing by 7%.
- The experiences and dining revenue segment saw an 8% decline, reflecting challenges in balancing product-led transitions.
- Consolidated adjusted EBITDA margin showed modest deleverage, indicating pressure on profitability.
- Operating cash flow was negative $2 million in Q4, with free cash flow also negative, highlighting cash management challenges.
- The company faces FX headwinds, particularly impacting Viator's revenue due to euro-denominated business.
Good day, and thank you for standing by. Welcome to Tripadvisor's fourth quarter 2024 conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Angela White, VP of IR. Please go ahead.
Thank you, Michelle. Good morning, everyone, and welcome to Tripadvisor's fourth quarter and full year 2024 financial results call. Joining me today are Matt Goldberg, President and CEO; and Mike Noonan, CFO.
Earlier this morning, we filed and made available our earnings release. In that release, you'll find reconciliations of non-GAAP financial measures to the most comparable GAAP financial measures discussed on this call.
Before we begin, I'd like to remind you that this call may contain estimates and other forward-looking statements that represent management's views as of today, February 20, 2025. Tripadvisor disclaims any obligation to update these statements to reflect
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