Booking Holdings Inc. Common Stock · NASDAQ:BKNG
Booking Holdings Inc. Common Stock — Q1 2025 Earnings Presentation
20 slides from Booking Holdings Inc. Common Stock's earnings presentation, Apr 29, 2025
Slide 1: Q1 2025 Earnings Presentation
Q1 2025 Earnings Presentation April 29, 2025
Slide 2: Disclaimer
Disclaimer Disclosure Regarding Forward-Looking Statements This presentation contains forward-looking statements. These forward-looking statements reflect the views of Booking Holdings Inc.’s (the “Company” or “Booking Holdings” or “BKNG”) management regarding current expectations and projections ab
Slide 3: Q1 2025 Financial Summary
Q1 2025 Financial Summary Trailing Twelve Months “TTM” Revenue Q1 2025 GAAP and Adjusted P&L (figures in billions) (in millions, except for EPS) GAAP YoY% Adjusted(1) YoY% Revenue $4,762 8% $4,762 8% Marketing $1,777 10% $1,777 10% Expenses Sales and Other $702 3% $702 3% Expenses Adjusted Fixed Ope
Slide 4: Q1 Room Night Growth was Slightly Above the High End of our Guidance Expectations
Q1 Room Night Growth was Slightly Above the High End of our Guidance Expectations Room Nights by Quarter Q1 Highlights (figures in millions) ✔ Room Night Growth (“RNG”) was slightly above the high end of our guidance (1) ✔ Room Night Growth by region : − Europe: up high single digits − Asia: up high
Slide 5: Key Highlights
Key Highlights Booking.com Alternative Q1 Alternative Accommodation (“AA”) Room Nights grew 12% Accommodations YoY with mix increasing YoY to 37%. Q1 AA listings up 9% YoY. (1) Q1 Mobile App mix was in the mid 50%’s (up from the (2) Mobile App Mix low 50%’s in Q1 2024) (3) Direct Mix TTM Business-to
Slide 6: Alternative Accommodations Room Night Growth at Booking.com Outpacing Total Growth
Alternative Accommodations Room Night Growth at Booking.com Outpacing Total Growth Booking.com: (figures in millions) AA Listings 7.4 7.8 7.9 7.9 8.1 AA Listings Growth YoY 11% 11% 10% 8% 9% 6
Slide 7: Mobile App Mix Continues to Steadily Increase Over Time
Mobile App Mix Continues to Steadily Increase Over Time Q1 2025 mid Q1 2024 Q1 2023 low 50%’s mid 50%’s 40%’s 7
Slide 8: Q1 Gross Bookings Growth Slightly Exceeded the High End of our Guidance
Q1 Gross Bookings Growth Slightly Exceeded the High End of our Guidance Gross Bookings by Quarter (figures in billions) Q1 Highlights ✔ Gross Bookings growth slightly exceeded the high end of our guidance, driven by less than one percentage point of benefit from changes in FX relative to our expecta
Slide 9: Q1 Revenue Growth Exceeded the High End of our Guidance Expectations
Q1 Revenue Growth Exceeded the High End of our Guidance Expectations Revenue by Quarter Q1 Highlights (figures in billions) ✔ Revenue growth exceeded the high end of our guidance by four percentage points due to higher payment revenues as well as less than one percentage point of benefit from change
Slide 10: Q1 Adjusted Fixed OpEx Growth was Below Expectations and Grew Slower than Revenue
Q1 Adjusted Fixed OpEx Growth was Below Expectations and Grew Slower than Revenue Adjusted Fixed OpEx(1) by Quarter Approximate Headcount at Quarter-End (figures in billions) Adjusted Fixed OpEx Growth (Decline) YoY Headcount Growth YoY 11% 5% 7% 9% (3%) 7% 5% 3% 3% 2% (1) Refer to Appendix for reco
Slide 11: Q1 Adjusted EBITDA Exceeded Expectations and Grew Faster than Revenue
Q1 Adjusted EBITDA Exceeded Expectations and Grew Faster than Revenue ● Q1 Adjusted EBITDA of $1.1 billion was 28% above the high end of our guidance (1) (1) Adjusted EBITDA by Quarter Adjusted EPS by Quarter (figures in billions) Adjusted EBITDA Growth YoY Adjusted EPS Growth YoY 53% 7% 12% 26% 21%
Slide 12: Q1 Free Cash Flow and Capital Return
Q1 Free Cash Flow and Capital Return ● Q1 Free Cash Flow of $3.2 billion grew 23% YoY (1) Free Cash Flow by Quarter Capital Return by Quarter (figures in billions) (figures in billions) Q1 2025 TTM Free Cash Flow: $8.5 billion, +25% YoY (2) Free Cash Flow Growth (Decline) YoY Weighted Average Dilute
Slide 13: Q2 2025 Guidance
Q2 2025 Guidance Reported YoY Growth(1) ✔ We have continued to see stable travel demand trends in our business so far in the second Room Nights 4% to 6% quarter and our guidance for the quarter assumes a continuation of those trends Gross Bookings 10% to 12% ✔ However, we recognize the possibility t
Slide 14: FY 2025 Guidance
FY 2025 Guidance Constant Currency YoY Growth(1) ✔ Although we continue to see stable trends globally so far in the second Gross Bookings Mid to High Single Digits quarter, we recognize that our business could be impacted by the increased uncertainty in the geopolitical and macroeconomic Revenue Mid
Slide 15: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions) Note: Amounts may not total due to rounding. 15
Slide 16: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions) Note: Amounts may not total due to rounding. 16
Slide 17: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions, except share and per share data) Note: Amounts may not total due to rounding. Tax Act: U.S. Tax Cuts and Jobs Act enacted in December 2017. 17
Slide 18: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions) Note: Amounts may not total due to rounding. 18
Slide 19: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information 19
Slide 20: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions) Note: Amounts may not total due to rounding. NM: Not meaningful. 20