Business
Travelzoo Reports Second Quarter 2024 Results
NEW YORK, July 25, 2024 /PRNewswire/ -- Travelzoo® (NASDAQ: TZOO): Revenue of $21.1 million, consistent year-over-yearConsolidated operating profit of $4.0
About this update from Travelzoo
[{"type":"text","content":"NEW YORK, July 25, 2024 /PRNewswire/ -- Travelzoo® (NASDAQ: TZOO):\n\n \n \n \n \n \n \n\n \nRevenue of $21.1 million, consistent year-over-yearConsolidated operating profit of $4.0 millionNon-GAAP consolidated operating profit of $4.8 millionCash flow from operations of $3.1 millionEarnings per share (EPS) of $0.23Travelzoo, the club for travel enthusiasts, today announced financial results for the second quarter ended June 30, 2024. Consolidated revenue was $21.1 million, consistent year-over-year. In constant currencies, revenue was $21.2 million, up from $21.1 million year-over-year. Travelzoo's reported revenue consists of advertising revenues and commissions, derived from and generated in connection with purchases made by Travelzoo members, and membership fees.\nNet income attributable to Travelzoo was $2.9 million for Q2 2024, or $0.23 per share, compared with $0.17 in the prior-year period. Net income attributable to Travelzoo from continuing operations was $2.9 million for Q2 2024, or $0.23 per share, compared with $0.17 in the prior-year period.\nNon-GAAP operating profit was $4.8 million. Non-GAAP operating profit excludes amortization of intangibles ($88,000), stock option expenses ($0.7 million) and severance-related expenses ($30,000). Please refer to \"Non-GAAP Financial Measures\" and the tabular reconciliation below.\n\"We will continue to leverage Travelzoo's global reach, trusted brand, and strong relationships with top travel suppliers to negotiate more exclusive offers for members,\" said Holger Bartel, Travelzoo's Global CEO. \"With more than 30 million members, 8 million mobile app users, and 4 million social media followers, Travelzoo is loved by travel enthusiasts who are affluent, active, and open to new experiences.\"\nCash PositionAs of June 30, 2024, consolidated cash, cash equivalents and restricted cash were $13.2 million. Net cash provided by operations was $3.1 million.\nTravelzoo North AmericaNorth America business segment revenue remained consistent year-over-year at $14.1 million. Operating profit for Q2 2024 was $3.7 million, or 26% of revenue, compared to operating profit of $3.8 million in the prior-year period.\nTravelzoo EuropeEurope business segment revenue increased 1% year-over-year to $6.0 million. In constant currencies, Europe business segment revenue increased 1% year-over-year. Op...