trivago N.V. · NASDAQ:TRVG
trivago — Q2 2026 Earnings Presentation
25 slides from trivago's earnings presentation, Aug 4, 2026
Slide 1: Optimizing Momentum, Pushing Frontiers
Optimizing Momentum, Pushing Frontiers Investor Presentation Q2 2026 1 4 August 2026
Slide 2: Disclaimer
Disclaimer All of the information herein has been prepared by trivago N.V. (“the Company”) solely for use in this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no re
Slide 3: trivago at a glance
trivago at a glance trivago (NASDAQ:TRVG) is a global hotel search and price comparison platform. Our Mission: When price-savvy travelers are searching for a “Hotel?”, we want the obvious High unaided brand awareness in key travel markets worldwide1 choice to be “trivago”. 7M+ 580M+ Netherlands Acco
Slide 4: Q2 2026 Highlights
Q2 2026 Highlights In Q2 2026, we delivered 21% year-over-year Total Revenue growth and achieved positive Adjusted Financial EBITDA for the first time in a Q2 since 2023. Americas and Developed Europe both delivered strong Performance double-digit Referral Revenue growth, once again exceeding our ex
Slide 5: Q2 2026 Financials – Exceeding our top- and bottom-line expectations
Q2 2026 Financials – Exceeding our top- and bottom-line expectations. 2025 2026 % YoY Total Revenue (€m) ROAS1 (%) Adjusted EBITDA2 (€m) Net Loss (€m) 1.1 311.3 (3.4) (5.2) 263.4 (5.0) (6.5) 119% 122% 119% 121% (12.4) (11.5) (14.3) 168.4 Q2 H1 Q2 H1 139.3 % of Total Revenue % of Total Revenue 0.7% Q
Slide 6: Revenue growth in Q2 confirms strong momentum
Revenue growth in Q2 confirms strong momentum. Total Revenue - quarterly, €m Total Revenue dynamics year-over-year 27% 22% 21% 168.4 17% 165.6 157.9 146.1 142.9 15% 139.3 13% 124.4 124.1 3% 118.6 120.0 111.0 101.4 91.7 94.8 (5%) (9%) (13%) (7%) (14%) (14%) Q2’24 Q3’24 Q1’24 Q2’23 Q3’23 Q4’23 Q2’25 Q
Slide 7: We see significant growth potential
We see significant growth potential. Our business is well-diversified, with opportunities across the globe. Q2 2026 Referral Revenue Total Revenue, €m per Reportable Segment 18% 1,035 915 Mid-teens 839 Growth 40% 754 535 549 493 485 461 42% 361 249 Americas Developed Europe 2015 2016 2017 2018 2019
Slide 8: Unlocking value: Building on strong fundamentals, profitable growth momentum and a low EV/Revenue multiple
Unlocking value: Building on strong fundamentals, profitable growth momentum and a low EV/Revenue multiple. TRVG share price Cash and Cash Last close Market cap: Equivalents1: €114.5M $6.00 $5.33 $376.1M (€326.0M) Short-term investments1: €40.8M $5.00 Total Revenue Adj. EBITDA $4.00 Q2 2026 (LTM): Q
Slide 9: Selected Focus Areas
We are laser-focused on executing our strategic priorities to drive sustainable growth and long-term profitability. Marketing Hotel Search Partnerships Capturing Demand Matching Demand and Supply Aggregating Supply Brand Search Deals Book Partnerships Guiding Lights Elevate our Offer Be a leader Fac
Slide 10: Key developments and results on our strategic priorities since 2023
Key developments and results on our strategic priorities since 2023. • Launched AI-powered global and localized brand campaigns to elevate the trivago brand worldwide. Marketing TV campaigns now live in 30 Elevate our • Executed a disciplined, multi-year brand investment strategy to capture markets,
Slide 11: Marketing: Our Summer TV campaign launched in May
Marketing: Our Summer TV campaign launched in May, strengthening our strong presence among price-savvy travelers ahead of the peak travel season. Klopp Challenger Expert Analysis Alternatives Uncomfortable truths Japan localized 11
Slide 12: Marketing: CRM is becoming a relevant profit contributor
Marketing: CRM is becoming a relevant profit contributor, with revenue nearly tripling since Q2 2023 through channels we own. Share of Referral Revenue1 from CRM (Owned Media2) Comments Index: Q2’23 = 100% • Our member initiatives turn a meaningful share of them into signed-up, profiled members, and
Slide 13: Hotel Search: Our testing velocity translates into a more compelling user journey
Hotel Search: Our testing velocity translates into a more compelling user journey lifting conversion and strengthening our unit economics. Conversion rate (Qualified Visits-to-Book ratio) Comments Index: Q2’23 = 100% • Our product teams have maintained a high testing velocity, improving the user +64
Slide 14: Hotel Search: Nova Vista gives us a stronger foundation for more experimentation
Hotel Search: Nova Vista gives us a stronger foundation for more experimentation in a conversational, AI-native era. Free text search Comments • We launched Nova Vista, our refreshed Top matches desktop architecture, which increases content density, improves screen utilization, and delivers a more b
Slide 15: Hotel Search: AI-synthesized content is now core to how travelers discover hotels
Hotel Search: AI-synthesized content is now core to how travelers discover and compare hotels on trivago. AI-generated Highlights AI-generated Guest Reviews Top 10 for Fitness AI Summaries Per-paragraph prompt Hotel Highlights Guest Sentiment 15
Slide 16: Hotel Search: We grew our logged-in member base to +30% of Referral Revenue
Hotel Search: We grew our logged-in member base to +30% of Referral Revenue to increase retention among core users. Share of Referral Revenue1 generated by logged-in members Index: Q2’23 = 100% 320% +220% Exclusive Deals 100% Q2’23 Q2’24 Q2’25 Q2’26 Call to log-in 1 Referral Revenue before intersegm
Slide 17: Hotel Search: We are retaining travelers at a meaningfully higher rate
Hotel Search: We are retaining travelers at a meaningfully higher rate as we are scaling CRM and our member strategy unfolds. 3-month Retention Rate of new members (Q1 cohorts)1 Comments Index: Q1’23 = 100% • Retention has increased by 24% since Q1 2023, reflecting the compounding effect of +24% tur
Slide 18: Hotel Search: We integrated B&G natively into the user journey
Hotel Search: We integrated B&G natively into the user journey for a more seamless user experience and higher downstream conversion. Share of Referral Revenue1 generated through Book & Go2 Comments Index: Q2’23 = 100% • trivago Book & Go continues to scale rapidly. Since Q2 2023, Referral Revenue1 7
Slide 19: Hotel Search: We integrated B&G natively into the user journey
Hotel Search: We integrated B&G natively into the user journey for a more seamless user experience and higher downstream conversion. Search Results List Property Details Page Checkout Page 19
Slide 20: Partnerships: Our partner mix remains healthy
Partnerships: Our partner mix remains healthy while the share of revenue from other partners has increased over time. Advertiser revenue share as % of Referral Revenue1 Comments • Over the past few years, we have made deliberate investments to rebalance our 20% 20% 20% 23% 24% 22% 24% 25% 25% 26% 26
Slide 21: Partnerships: Our transaction-based CPA-Model has exceeded expectations
Partnerships: Our transaction-based CPA-Model has exceeded expectations in terms of adoption and performance. Share of Referral Revenue1 from transaction-based CPA-Model Comments Index: Q2’23 = 100% • Our transaction-based CPA-Model has achieved broad adoption among small- 522% and mid-sized partner
Slide 22: For more detailed insights, please visit our Investor Relations website
For more detailed insights on trivago and our strategy, please visit our Investor Relations website at ir.trivago.com. Key Highlights Resources 17% revenue growth driven by sustained branded traffic growth | 20% Q2 2025 Earnings Release Q2 2025 share in Referral Revenue from logged-in users | Anno
Slide 23: Appendix
Appendix
Slide 24: Adjusted EBITDA
Adjusted EBITDA in millions, EUR Three Months Ended Six Months Ended Twelve Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 June 30, 20261 December 31, 2025 Net income/(loss) -5.2 -6.5 -12.4 -14.3 13.0 11.2 Loss from equity method investments -0.1 -0.4 -0.1 -1.7 -0.6 -2.2 Income
Slide 25: IR contacts: ir@trivago.com
IR contacts: ir@trivago.com