What is the market's earnings forecast for Trivago next quarter?

Did Trivago beat or miss consensus estimates last quarter?

What is Trivago's gross profit margin?

What does Trivago do and what are its main business segments?

What were the key takeaways from Trivago's earnings call?

What guidance did Trivago's management provide for the next earnings period?

What is the revenue and EPS growth rate for Trivago year over year?

What were the key takeaways from Trivago’s earnings call?

**Key Takeaways:**
- **Revenue Momentum**: 13% YoY growth in Q3, driven by Americas (14% YoY) and brand marketing investments.
- **Profitability Boost**: EBITDA up 18% YoY to EUR 16 million, with ROAS improving in key regions.
- **AI Advantage**: AI reduces content costs by 90%, enabling faster, more relevant hotel insights.
- **2026 Targets**: Mid-teens revenue growth and EUR 20 million EBITDA, fueled by compounding brand investments.
- **User Engagement**: Logged-in users convert 25% better; initiatives to increase logged-in share to 30-40%.
- **Strategic Focus**: Prioritize leisure travel, optimize existing markets, and integrate Holisto for partner value creation.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue increased 13% YoY, marking the fourth consecutive quarter of double-digit growth. Americas, Rest of World, and Developed Europe segments grew 14%, 12%, and 9% YoY, respectively.
- **Branded Traffic Strategy**: Brand marketing investments drove 18% YoY EBITDA improvement. The Jürgen Klopp campaign and local productions boosted branded traffic and revenue, with standout performance in the Americas.
- **AI-Driven Product Enhancements**: AI features like Smart Search, review summaries, and sentiment ratings improved user experience and conversion rates. AI reduced content creation costs by 90%, enabling faster updates and better relevance.
- **2026 Outlook**: Target mid-teens revenue growth and EUR 20 million adjusted EBITDA. Focus on optimizing existing markets and compounding brand investments.

**【CFO Financial Commentary】**
- **Revenue Performance**: Total Q3 revenue EUR 165.6 million (13% YoY), driven by 14% YoY referral revenue growth in Americas. Foreign exchange headwinds reduced revenue by 4%.
- **Profitability**: Adjusted EBITDA EUR 16 million (vs. EUR 14 million in Q3 2024). Net profit EUR 11 million. Operational expenses decreased 7% YoY due to non-recurring impairment charges.
- **Marketing Efficiency**: ROAS improved in Americas (126% to 135.4%) and Rest of World (117.6% to 119.2%). Brand marketing spend increased 17% YoY.
- **Liquidity**: EUR 106.3 million cash on hand, no long-term debt.

**【Q&A Highlights】**
- **Logged-In Users**: >20% of users now logged in, with 25% higher conversion rates. Initiatives like exclusive deals and price alerts aim to increase engagement during booking windows.
- **B2B Strategy**: Focused on leisure travel, but exploring white-label solutions for small/mid OTAs via Holisto (now Trivago Deals). No immediate plans for B2B expansion.
- **AI Competition**: Minimal traffic impact from AI search tools. Trivago's brand strength and AI-driven UX differentiate it from general AI platforms.
- **Holisto Integration**: Holisto's booking funnel improves partner conversion rates. No channel conflict risks; focuses on underserved small/mid OTAs.


trivago N.V. (TRVG) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: 17% YoY total revenue, with Rest of World leading at +32%.
- **Brand Marketing Success**: 22% ROAS, double-digit branded revenue growth, and 20% of referral revenue from logged-in users.
- **AI Innovation**: Launch of AI-powered review summaries and Book & Go pilot with double-digit conversion improvements.
- **Financial Resilience**: €111.2M cash reserves, mid-teens 2025 revenue growth guidance despite €3M FX headwind.
- **Strategic Expansion**: Holisto acquisition to enhance booking funnel and partner competitiveness.

**【CEO Summary Section】**
- **Revenue Growth**: 17% year-over-year (YoY) total revenue, driven by double-digit growth across all regions (Rest of World +32%, Developed Europe +20%, Americas +10%).
- **Strategic Focus Areas**:
  1. **Brand Marketing**: 18% YoY increase in brand marketing spend, yielding 22% ROAS and double-digit branded revenue growth across all regions. New campaigns featuring Jürgen Klopp and localized strategies in Japan, Brazil, and Germany.
  2. **Product Innovation**: Launch of AI-powered review summaries for 230,000+ hotels, AI Smart Search integration, and Project Trinity simplifying price comparison. 20% of referral revenue now from logged-in users, up from 10% in 2023.
  3. **Partner Empowerment**: 100+ partners on transaction-based model, Holisto acquisition enabling trivago Book & Go pilot with double-digit conversion improvements.
- **Acquisition Update**: Holisto expected to contribute low double-digit million euros in 2025, operating near breakeven.

**【CFO Financial Commentary】**
- **Financial Highlights**: Q2 2025 total revenue €139.3M (+17% YoY), adjusted EBITDA loss €5.1M (vs. €5.3M in Q2 2024). Operating expenses +14% YoY due to +26% brand marketing spend.
- **Performance Metrics**: Global ROAS 119%, Rest of World ROAS +1.4pts YoY. Cash reserves €111.2M, no long-term debt.
- **Guidance**: Full-year 2025 revenue growth expected mid-teens, similar 2024 EBITDA level despite €3M FX headwind in Q2.

**【Q&A Key Highlights】**
- **FX Impact**: Q2 2025 FX headwind -3% (Americas -7%), full-year impact uncertain but guidance maintained at mid-teens growth.
- **Brand Investment Runway**: 2024 brand spend 50% of 2019 levels, indicating significant growth potential in all regions.
- **Logged-In Users**: 20% of referral revenue from logged-in users, +25% conversion rate vs. non-logged-in. Exclusive deals and price alerts drive engagement.
- **Book & Go Success**: Pilot partners achieve double-digit conversion improvements, with expanded visibility via Project Trinity.
- **Rest of World Growth**: Driven by greenfield markets (Japan, Turkey) with low brand awareness and strong value proposition.

**【Closing Remarks】**
- Emphasized strategic focus on brand marketing, AI-driven product innovation, and partner empowerment. Holisto acquisition positions trivago for future growth through Book & Go expansion.


trivago N.V. (TRVG) Q2 2025 Earnings Call Transcript

- **22% Q1 Revenue Growth**: Driven by brand marketing and AI product enhancements, with full-year guidance raised to mid-teens.
- **Stable ROI Despite Scaling**: ROAS maintained at 118.1% despite 21.4% marketing spend increase.
- **AI-Driven User Experience**: 350,000 hotels now feature AI-generated highlights, with AI search integration boosting conversion rates.
- **Holisto Acquisition Impact**: Expected to enhance booking conversion rates and user retention through tailored solutions.
- **Financial Resilience**: €118.6M cash buffer supports growth, with flexible ad spend adjustments to navigate macro volatility.

**【CEO Strategic Overview】**
- Q1 2025 revenue surged 22% YoY to €124.1M, driven by brand marketing and product enhancements. Full-year guidance raised to mid-teens revenue growth and positive adjusted EBITDA.
- **Three Strategic Pillars**:
  1. **Brand Marketing**: AI-powered campaigns (e.g., Jurgen Klopp ads) and localized Brazil/Japan initiatives boosted brand revenue. ROAS remained stable at 118.1% despite 21.4% marketing spend increase.
  2. **AI-Driven Search Experience**: Expanded AI hotel highlights to 350,000 hotels in 11 languages, with AI search features now integrated into core app.
  3. **Partnership Expansion**: Trivago Book & Go adoption grew, and Holisto acquisition aims to enhance conversion rates through tailored booking solutions.
- Holisto integration expected to improve user retention and mid-term conversion rates through seamless booking experiences.

**【CFO Financial Highlights】**
- Q1 net loss narrowed to €7.8M vs. €11.2M in Q1 2024. Adjusted EBITDA loss of €6.5M better than internal expectations.
- **Cost Structure**:
  - Operating expenses rose 20.7% to €133.7M, driven by €21.4M increase in brand marketing (31% in Americas, 50% in ROW).
  - General & admin expenses down 1.3% due to efficiency gains.
- **Performance Metrics**:
  - ADRs up across all regions; length of stay stable in ROW, up in Americas/Europe.
  - Click prices stable globally, with slight increases in Europe/ROW.
- Strong cash position of €118.6M supports continued brand investment scaling.

**【Q&A Key Takeaways】**
- **Regional Trends**: U.S. domestic demand offset Canadian/Mexican cross-border weakness. Global search interest remains robust across 50+ localized markets.
- **AI Risks**: CEO emphasizes Trivago's advantage in vertical transaction trust, with AI features (e.g., dynamic hotel highlights) driving 35%+ conversion rate improvements.
- **Macroeconomic Resilience**: Flexible ad spend adjustments (e.g., 2023 Q3 30% cut during volatility) maintain financial discipline.
- **Leadership Transition**: Incoming CFO Wolf Schmuhl brings deep financial expertise to support scaling strategy post-Robin Harries departure.

Trivago N.V. (TRVG) Q1 2025 Earnings Conference Call Transcript

- **Q4 Turnaround**: 5% revenue growth, €11.1M EBITDA (vs. breakeven prior), double-digit Q1 2025 growth
- **AI-Driven Growth**: 70%+ employee AI adoption, 300,000+ AI-powered hotel highlights
- **Brand Investment**: 23+ market campaigns, ROAS improvement in Europe/Rest of World
- **2025 Outlook**: High single-digit revenue growth, breakeven EBITDA, AI Smart Search scaling
- **Key Risks**: Google ad format volatility, performance marketing headwinds


**【CEO Summary Section】**
- Q4 2024 revenue grew 5% YoY to €94.8 million, with referral revenue up 5% and adjusted EBITDA of €11.1 million (vs. breakeven in Q4 2023). January 2025 saw double-digit top-line growth across all segments.
- Key drivers: AI-powered marketing campaigns (featuring Jürgen Klopp), brand marketing in 23+ markets, and product enhancements (e.g., AI Smart Search launched in November 2024). 
- 2025 outlook: High single-digit revenue growth, with brand investment at breakeven EBITDA levels. AI adoption saves employees 30+ minutes/day and powers 300,000+ hotel personalizations.
- Strategic pillars: 
  1. Brand marketing (TV, connected TV, online video)
  2. Core hotel search product (A/B testing >12 experiments/month)
  3. Partner enablement (Book & Go booking funnel)

**【CFO Financial Commentary】**
- Q4 2024: 
  - Total revenue €94.8M (+3% YoY)
  - Adjusted EBITDA €11.1M (vs. €0.5M in Q4 2023)
  - Operating expenses €87M (-0.3% YoY)
  - Advertising spend +18% in Americas, +3% in Rest of World
- ROAS improvement in Developed Europe (+200bps) and Rest of World (+150bps), offset by Americas ROAS decline due to marketing scale.
- 2025 outlook: 
  - Revenue growth ≥ high single digits
  - Adjusted EBITDA breakeven (reinvest profits into marketing)
  - €130M+ cash balance, no long-term debt

**【Q&A Key Takeaways】**
1. **Growth Acceleration**: 
   - Q1 2025 double-digit growth driven by easier comps vs. Q3/Q4 2024 (peak marketing spend)
   - Brand marketing elasticity remains strong; no plans to pivot to profitability until ROI diminishes
2. **AI Smart Search**: 
   - Semantic search (e.g., "hotel with Eiffel Tower view") launched in 27 markets
   - Gradual user adoption; currently surfaced via search suggestions
3. **Member Proposition**: 
   - Price-sensitive users get exclusive deals via login (e.g., non-public rates from partners)
   - No traditional loyalty program; focus on logged-in user value
4. **Book & Go**: 
   - Holisto partnership testing scalable booking funnel
   - Option to acquire remaining equity contingent on OKR achievement


Trivago N.V. (TRVG) Q4 2024 Earnings Call Transcript

trivago N.V. (TRVG) Q3 2024 Earnings Call Transcript

trivago N.V. (TRVG) Q2 2024 Earnings Call Transcript

trivago N.V. (TRVG) Q1 2024 Earnings Call Transcript

- **Revenue decline**: Q4 2023 revenue down 13% YoY, driven by performance marketing challenges, with Rest of World growth offsetting regional declines.
- **Strategic Focus**: Brand revitalization (TV campaigns, AI ads) and product enhancements (AI hotel highlights, second-price auction) to drive long-term growth.
- **Financial Outlook**: 2024 adjusted EBITDA near breakeven, with brand investments expected to deliver compounding benefits by year-end.
- **Key Risks**: Ongoing competition in Google's PPA auction and DMA compliance impacting short-term monetization.

**【CEO Summary Section】**
- Q4 2023 revenue declined 13% YoY to EUR 91.7 million, driven by lower monetization and performance marketing headwinds. Rest of World segment grew 14% YoY.
- Strategic priorities include:
  1. **Branded Growth**: Launched global TV campaigns in 20+ markets with AI-powered ads, seeing early success in Europe and mixed results in Americas.
  2. **Enhanced Hotel Search**: Introduced AI-generated hotel highlights for 60,000 properties and new search stages, improving user engagement.
  3. **Deal Discovery**: Refined deal display and improved rate accuracy scoring system to build user trust.
  4. **Advertising Partners**: Tested second-price auction in 3 markets, planning full rollout by summer 2024 for long-term benefits.
- Expect Q1 2024 revenue declines to decelerate (mid-single-digit YoY), with breakeven adjusted EBITDA for full year 2024.

**【CFO Financial Commentary】**
- Q4 2023 financials:
  - GAAP net income: EUR 2.5 million
  - Adjusted EBITDA: EUR 7.3 million
  - Full year 2023 adjusted EBITDA: EUR 54.1 million (vs. EUR 164.5 million net loss due to impairments)
- Paid one-time dividend of EUR 184.4 million, maintaining EUR 125M+ cash balance.
- 2024 outlook: Adjusted EBITDA near breakeven, with brand investments impacting near-term profitability.

**【Q&A Highlights】**
- **Booking Value Normalization**: Q4 booking values normalized to pre-pandemic levels, with mixed trends across regions.
- **Performance Marketing Competition**: Ongoing challenges in Google's PPA auction (lower conversion rates) and DMA compliance headwinds.
- **Ad Spend Allocation**: Shifting focus to brand marketing (e.g., TV campaigns) with gradual rollouts in 20+ markets, prioritizing efficient markets.
- **Google Cookie Changes**: Minimal impact expected, as brand strength and performance marketing remain resilient.

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