Slide 1: Letter to Shareholders
Letter to Shareholders We are pleased with our Q3 results. As vaccination rates continued to increase and countries reopened, we saw soli d recovery in our business, and our results improved meaningfully versus the second quarter. In addition to macro improvements in travel, our results also highlig
Slide 2: Consolidated revenue recovery by month versus 2019
Consolidated revenue in the months of July, August, and September for 2021 was approximately 71%, 74%, and 68%, respectively, of 2019’s comparable periods and exceeded all pandemic impacted months from last year.
Slide 3: Tripadvisor
OL Tripadvisor
Slide 4: Q3 profitability and liquidity highlight operating leverage and cost management
Q3 profitability and liquidity position highlights our strong operating leverage and continued prudent cost management. Q3 2021 consolidated net income turned positive to $1 million, up from a $48 million loss in Q3 2020, driven primarily by revenue improvement, partially offset by increased variabl
Slide 5: Q3 2021 Adjusted EBITDA was $72 million
Q3 2021 Adjusted EBITDA was $72 million and improved by $57 million year-over-year, driven primarily by revenue improvement against our stable fixed cost base, partially offset by increased variable marketing expenses. We believe we have positioned the business for operating leverage as travel deman
Slide 6: Ample liquidity with $682 million of cash
Additionally, we maintained ample liquidity. We had $682 million of cash and cash equivalents as of September 30, 2021.
Slide 7: Business Update
Business Update Monthly unique users improved in Q3 and were largely in line with our revenue recovery. Overall average monthly unique users on Tripadvisor-branded websites in Q3 were approximately 76% of 2019’s comparable period, up from approximately 70% in Q2, and 55% in Q1.
Slide 8: Monthly unique users and Hotel, Media & Platform segment
Monthly unique users were generally stable throughout the quarter. Strong traffic on our site remains a leading indicator of consumers’ desire to travel, which is why we are pleased to see these improving quarterly trends. From a geographic perspective, we saw European monthly users as a percentage
Slide 9: Experiences revenue reached 75% of 2019 levels
Experiences revenue reached 75% of 2019 levels during Q3. This was led by the Viator point of sale, which roared back to approximately 100% of 2019 revenue levels. In October, we saw further improvement on all Experiences points of sale, delivering combined booking levels that now exceed 2019. We ar
Slide 10: Q4 and next year outlook
As we finish out the year, we expect our overall Q4 revenue and profit to be impacted by a typical seasonal step down versus Q3. So far in the current quarter, we see some positive pockets in the business. We estimate at this time that revenue levels as a percent of 2019 in October will reflect a mo
Slide 11: Forward-looking statements and non-GAAP measures
by actual events when they occur after we make such statements. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events or otherwise. Investors should also refer to our quarterly reports on Form 10-Q for future periods
Slide 12: Tripadvisor
OL Tripadvisor