Tripadvisor, Inc. · NASDAQ:TRIP
Tripadvisor — FY2020 Earnings Presentation
21 slides from Tripadvisor's earnings presentation, Feb 18, 2021
Slide 1: Q4 and Full Year 2020 Investor Presentation
Q4 and Full Year 2020 Investor Presentation February 18, 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% 1.3M Travel activities
Slide 5: Significant influence on the global travel market
Significant influence on the global travel market $546B Annual travel expenditures influenced 2.2B Vacation nights influenced 433M Annual trips influenced Source: May 2018 Oxford Economics Global Travel Market Study 5
Slide 6: Addressing long-term travel market opportunity shifting online
Addressing long-term travel market opportunity that is shifting online Global Travel Market(1) ($ trillions) $1.4 $0.9 Online 8% CAGR 53% 33% (1) Phocuswright estimates as of February 2021 6
Slide 7: Multiple areas of diverse, long-term growth potential
Multiple areas of diverse, long-term growth potential Hotels Display and Platform Experiences Dining Other Click-based advertising for Enables advertising Enables consumers to Travelers and locals can A collection of OTAs and hoteliers to partners to promote their research and book nearly research a
Slide 8: Tripadvisor has remained the #1 travel guidance platform
Tripadvisor has remained Travel Sites Globally in 2020 (1) the #1 travel De-duplicated unique users guidance platform throughout 2020 With more traffic than Booking.com, Airbnb, Yelp, Expedia, Skyscanner, Trivago, Kayak, Agoda, Priceline and Hotels.com (1) Source: SimilarWeb, unique users de-duplica
Slide 9: Significant progress in 2020 along One Tripadvisor consumer vision
We made significant progress in 2020 along our One Tripadvisor consumer vision ● Repositioned brand: There’s Good Out There ● Launched Travel Safe to help consumers to make more informed decisions ● Aligning consumer experience for planning considered trips ● Beta-launched Direct-to-Consumer offerin
Slide 10: Financial overview
Financial overview
Slide 11: 4Q20 Update: Monthly consumer trends demonstrate uneven recovery
4Q20 Update: Monthly consumer trends demonstrate Average Monthly Unique Visitors (1) (Illustrative year-over-year % performance) uneven recovery Recent monthly unique visitor trends demonstrate recovery from the Q2 lows: ● October, November and December monthly unique users were approximately 68%, 5
Slide 12: 4Q20 Update: Revenue and profitability impacted by pandemic
4Q20 Update: Revenue and profitability impacted by pandemic Consolidated Revenue Consolidated Net Income (Loss) Consolidated Adjusted EBITDA (1) ($ millions) (in $millions) (in $millions) 12 (1) Consolidated Adjusted EBITDA is our non-GAAP profit measure and is defined as net income (loss) plus: (1)
Slide 13: 4Q20 Update: $915M of available liquidity
4Q20 Update: $915M of available liquidity; Cost Liquidity position a/o 12/31/20 ($ millions) measures have positioned Cash and cash equivalents (C&CE) Unborrowed Revolver Capacity business for a variety of $915 recovery scenarios ● $418 million in cash and cash equivalents at 12/31/20 ● Renegotiated
Slide 14: Well-positioned for travel sector rebound
Well-positioned for travel sector rebound Travelers Travel Partners Trusted source of information on locations, property Critical source of demand generation for conditions, budgeting and other trip factors; accommodations and in-market suppliers with barometer for early signs of engagement given ex
Slide 15: Financial highlights
Financial highlights Significant historical revenue Robust financial profile with strong Attractive historical base of scale and long-term growth track record of profitability and revenue and Adjusted EBITDA(1) potential operating cash flow generation from Hotels, Media & Platform Experiences & Dini
Slide 16: Strong financial profile pre-pandemic
Strong financial profile pre-pandemic Consolidated Revenue Consolidated Net Income (Loss) Consolidated Adjusted EBITDA(1) ($ 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 17: Diverse revenue mix with additional opportunities ahead
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 18: 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 19: Investment highlights
Investment highlights World’s largest travel 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 drive diver
Slide 20: Appendix
Appendix
Slide 21: 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