Slide 1: Full year 2022 net income
Net income for the full year 2022 was $20 million, or 1% of revenue, as compared to a net loss of $148 million in fiscal 2021, or -16% of revenue.
Slide 2: Full year 2022 adjusted EBITDA
Adjusted EBITDA for the full year 2022 was $295 million, or 20% of revenue as compared to adjusted EBITDA of $100 million in fiscal 2021, or 11% of revenue. Growth in net income and adjusted EBITDA was driven primarily by higher revenue recovery and slower fixed cost growth, which more than offset t
Slide 3: Q4 2022 consolidated revenue
Quarterly consolidated revenue in Q4 2022 exceeded expectations that we communicated in early November. Total revenue was $354 million, representing year over year growth of 47%, and reaching 106% of 2019 levels .
Slide 4: Q4 Revenue ($M)
Q4 Revenue ($M) $354 Q4 2020 Q4 2021 Q4 2022
Slide 5: Q4 2022 net loss
In Q4 2022, net loss was $3 million, or -1% of revenue, an improvement from a net loss of $29 million, or -12%, in Q4 2021.
Slide 6: Q4 2022 adjusted EBITDA
In Q4 2022, adjusted EBITDA was $43 million, or 12% of revenue, as compared to adjusted EBITDA of $29 million, or 12% of revenue, in the same period a year ago. Adjusted EBITDA in Q4 and for the full year excludes the impact of an approximate $8 million loss related to a fraud scheme resulting in pa
Slide 7: Liquidity and Tripadvisor Core segment
We exited the year with strong liquidity. As of December 31, 2022, we had approximately $1.0 billion in cash and cash equivalents. Tripadvisor Core Segment Included in this segment is revenue from our Tripadvisor branded hotels, Tripadvisor branded display and platform, Tripadvisor experiences and d
Slide 8: Tripadvisor Core adjusted EBITDA full year
Adjusted EBITDA in the Tripadvisor Core segment for fiscal 2022 was $345 million, or 36% of revenue. Year over year, margin increased by 900 basis points, driven primarily by an increase in revenue, and fixed and discretionary cost leverage, which more than offset the slight increases in variable co
Slide 9: Tripadvisor Core Q4 2022 revenue
Turning to Q4 2022, following typical seasonality, revenue stepped down sequentially to $217 million, reflecting year over year growth of 34% and reaching 85% of 2019 levels. Revenue in Q4 2019 included nearly $10 million related to our divested SmarterTravel and China businesses, or 4% of Tripadvis
Slide 10: Tripadvisor Core Segment Revenue ($M)
Tripadvisor Core Segment Revenue ($M) $274 $284 217 $191 ; $162 Q4 2021 Q1 2022. =Q2 2022 =©Q3 2022) =9Q4 2022
Slide 11: Tripadvisor Core Q4 adjusted EBITDA
In Q4 2022, adjusted EBITDA in Tripadvisor Core was $61 million, or 28% of revenue. The sequential step down was due primarily to revenue seasonality, which offset the lower variable costs as a percent of revenue in Q4 relative to Q3. As noted above, Q4 2022 Tripadvisor Core adjusted EBITDA excludes
Slide 12: Tripadvisor Branded Hotels
Tripadvisor Branded Hotels For the full year 2022, Tripadvisor branded hotels revenue, which includes our hotel meta and B2B offerings, was $650 million, reflecting year over year growth of 44% and reaching 83% of 2019 levels. Within Tripadvisor branded hotels, hotel meta revenue reached 85% of 2019
Slide 13: Viator Q4 2022 revenue
Revenue in Q4 2022 was $127 million, growing 115% year over year and was 208% of 2019 levels. In Q4 2022, GBV was over $600 million, reflecting year over year growth of approximately 95% and reaching approximately 220% of 2019 levels.
Slide 14: Viator Revenue ($M)
Viator Revenue ($M) $174 $136 $127 $59 $56 7 Q4 2021 = Q12022 ) =Q22022 Q32022 Q42022
Slide 15: Viator Revenue as % of 2019
Viator Revenue as % of 2019 208% 179% 160% 127% 97% Q4 2021 Q1 2022 Q22022 Q3 2022 Q4 2022
Slide 16: Viator traffic, conversion and bookings
Our marketing efforts drove increases in traffic, while conversion rates improved year over year. In particular, we are seeing improving conversion in app and mobile web, which we believe is reflective of our product improvements. Bookings volume growth, in both new and repeat customers, was a key d
Slide 17: Viator Full Year Adjusted EBITDA ($M)
Viator Full Year Adjusted EBITDA ($M) me sir $ (31) $ (72) FY2020 FY2021 FY2022
Slide 18: Viator 2023 focus and TheFork segment
In 2023 we will remain focused on continuing to grow market share–acquiring new customers, and with a sharp focus on improving unit economics. We’ve seen improvements in repeat customer activity with new customers in recent cohorts repeating at higher rates than in the past. Repeat customers tend to
Slide 19: TheFork Q4 2022 revenue
In Q4 2022, revenue was $33 million, reflecting year over year growth of 10%, and reaching 94% of 2019 levels. For the quarter, we estimate currency headwinds impacted revenue growth by approximately 16 percentage points and recovery to 2019 levels by approximately 9 percentage points.
Slide 20: TheFork Revenue ($M)
TheFork Revenue ($M) $30 $32 $35 $33, $26 Q4 2021 = =Q1 2022) =Q22022 Q32022 Q4 2022
Slide 21: TheFork bookings
For the year, the number of bookings at TheFork grew 50% year over year, and reached approximately 106% of 2019 levels. In Q4 2022, year over year bookings grew 10% and reached 96% of 2019 levels. As a percent of 2019 levels, we attribute the sequential step down in bookings to external factors in E
Slide 22: TheFork adjusted EBITDA loss
[1] Euromonitor, September 2022 Adjusted EBITDA loss for 2022 was $39 million, or -31% of revenue, and in Q4 2022 adjusted EBITDA loss was $15 million, or -45% of revenue. Fixed and discretionary cost increases drove the year over year increase in losses on both an annual and quarterly basis. As a r
Slide 23: TheFork Full Year Adjusted EBITDA ($M)
TheFork Full Year Adjusted EBITDA ($M) $ (43) $ (46) $ (39) FY2020 FY2021 FY2022
Slide 24: TheFork 2023 focus and company outlook
In 2023, our focus will be on both growing our restaurant base and our diner base. For restaurateurs, we believe we are providing more value with products such as TheFork Pay, and testing different pricing options. For diners, we remain focused on driving awareness and user experience through our ap