Tripadvisor, Inc. · NASDAQ:TRIP
Tripadvisor — Q1 2021 Earnings Presentation
22 slides from Tripadvisor's earnings presentation, May 6, 2021
Slide 1: Q1 2021 Investor Presentation
Q1 2021 Investor Presentation May 6, 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements. Our presentation today, including the slides contained herein, contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts or guarantees of future performance and are based on
Slide 3: We are a global travel guidance company
We are a Tripadvisor helps travelers around the world unleash the full potential of every trip global travel guidance company 3
Slide 4: The world's largest travel platform
The world’s largest travel platform Significant supply footprint Massive global demand Tripadvisor’s global travel platform across a spectrum of travel for differentiated travel content (1) products (1) 463M 2.3M avg. monthly unique Accommodations (3) visitors in 3Q19 (2) ~70% 1.4M Travel activities
Slide 5: Significant influence on the global travel market
Significant influence on the global travel market $546B Annual travel expenditures influenced 2.2B Vacation nights influenced 433M Annual trips influenced Source: May 2018 Oxford Economics Global Travel Market Study 5
Slide 6: Addressing long-term travel market opportunity that is shifting online
Addressing long-term travel market opportunity that is shifting online Global Travel Market(1) ($ trillions) $1.4 $0.9 Online 8% CAGR 53% 33% (1) Phocuswright estimates as of January 2021 6
Slide 7: After past pandemics and worldwide events, consumers continued to travel
After past pandemics and worldwide events, consumers continued to travel Source: Skift (World Bank Tourism Organization. Skift Research Estimates). Data as of March 2020 7
Slide 8: Tripadvisor is the #1 travel site by traffic
Tripadvisor is the #1 travel Travel Sites Globally(1) site by traffic Monthly unique users With more traffic than Booking.com, Airbnb, Yelp, Expedia, Skyscanner, Trivago, Kayak, Agoda, Priceline and Hotels.com (1) Source: SimilarWeb, unique users de-duplicated monthly
Slide 9: Multiple areas of diverse, long-term growth potential
Multiple areas of diverse, long-term growth potential Hotels Display and Platform Experiences Dining Other Click-based advertising for Enables advertising Enables consumers to Travelers and locals can A collection of OTAs and hoteliers to partners to promote their research and book nearly research a
Slide 10: Pursuing our One Tripadvisor consumer vision as the world returns to travel
Pursuing our One Tripadvisor consumer vision as the world returns to travel ● Repositioned brand has never been more relevant: There’s Good Out There ● Our Travel Safe feature helps consumers make more informed decisions based on important health and safety information about hospitality businesses ●
Slide 11: Financial overview
Financial overview
Slide 12: 1Q21 Update: Monthly consumer trends improved during Q1
1Q21 Update: Monthly consumer trends improved Average Monthly Unique Visitors (1) (Illustrative year-over-year % performance) during Q1 Recent monthly unique visitor trends demonstrate recovery: ● January, February, and March monthly unique users were approximately 53%, 56%, and 58%, of 2019’s compa
Slide 13: 1Q21 Update: Revenue and EBITDA improved slightly
1Q21 Update: Revenue and EBITDA improved slightly Consolidated Revenue Consolidated Net Income (Loss) Consolidated Adjusted EBITDA (1) ($ millions) (in $millions) (in $millions) 13 (1) Consolidated Adjusted EBITDA is our non-GAAP profit measure and is defined as net income (loss) plus: (1) provision
Slide 14: 1Q21 Update: $1.2B of available liquidity
1Q21 Update: $1.2B of available liquidity; Positioned Liquidity position a/o 3/31/21 ($ millions) for a variety of recovery Cash and cash equivalents (C&CE) Unborrowed Revolver Capacity scenarios $1,170 ● $674 million in cash and cash equivalents at 3/31/21 ● Raised $345 million from 0.250% converti
Slide 15: Well-positioned for leisure travel rebound
Well-positioned for leisure travel rebound Travelers Travel Partners Trusted source of information on locations, property Source of global demand generation for conditions, budgeting and other trip factors; accommodations and in-market suppliers with barometer for early signs of engagement given top
Slide 16: Financial highlights
Financial highlights Significant historical revenue Robust financial profile with strong Attractive historical base of scale and long-term growth track record of profitability and revenue and Adjusted EBITDA(1) potential operating cash flow generation from Hotels, Media & Platform Experiences & Dini
Slide 17: Strong financial profile pre-pandemic
Strong financial profile pre-pandemic Consolidated Revenue Consolidated Net Income (Loss) Consolidated Adjusted EBITDA(1) ($ millions) (in $millions, except Net income (loss) margin) ($ millions, except Adj. EBITDA margin) (1) Consolidated Adjusted EBITDA is our non-GAAP profit measure and is define
Slide 18: We have successfully driven a diverse revenue mix
We have successfully driven a diverse revenue mix, with additional opportunities ahead ● Diversification supported by: ○ Hotel auction ○ Diverse double-digit pre-pandemic growth in emerging offerings: ■ Hotel B2B solutions ■ Display and platform ■ Experiences & Dining ○ Additionally, in 2020, we lau
Slide 19: Track record of strong profitability and free cash flow generation
Track record of strong profitability and free cash flow generation Consolidated Adjusted EBITDA(1) Operating cash flow Free cash flow(2) ($ millions, except Adj. EBITDA margin) ($ millions) ($ millions) 2017 2018 2019 Net income ($19) $113 $126 (1) Consolidated Adjusted EBITDA is our non-GAAP profit
Slide 20: Investment highlights
Investment highlights World’s largest travel guidance platform and community Valuable and differentiated position with travelers and suppliers Addressing attractive long-term secular growth opportunity Comprehensive platform with potential to further deepen customer engagement on our platform and dr
Slide 21: Appendix
Appendix
Slide 22: Non-GAAP Reconciliations
Non-GAAP Reconciliations The Company believes that non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enables comparison of financial results between periods where certain items may vary independent of business performa