Booking Holdings Inc. Common Stock · NASDAQ:BKNG
Booking Holdings Inc. Common Stock — Q4 2024 Earnings Presentation
22 slides from Booking Holdings Inc. Common Stock's earnings presentation, Feb 20, 2025
Slide 1: Q4 2024 Earnings Presentation
Q4 2024 Earnings Presentation February 20, 2025 Booking.com 2025 Super Bowl Ad: “Get your stay ridiculously right”
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: Q4 2024 Financial Summary
Q4 2024 Financial Summary Quarterly Revenue Q4 2024 GAAP and Adjusted P&L (figures in billions) (in millions, except for EPS) GAAP YoY% Adjusted(1) YoY% Revenue $5,471 14% $5,471 14% Marketing $1,578 10% $1,578 10% Expenses Sales and Other $750 15% $750 15% Expenses Adjusted Fixed Operating NA NA $1
Slide 4: Full Year (FY) 2024 Financial Summary
Full Year (“FY”) 2024 Financial Summary Trailing Twelve Months (“TTM”) Revenue FY 2024 GAAP and Adjusted P&L (figures in billions) (in millions, except for EPS) GAAP YoY% Adjusted(1) YoY% Revenue $23,739 11% $23,739 11% Marketing $7,278 7% $7,278 7% Expenses Sales and Other $3,120 14% $3,103 13% Exp
Slide 5: Q4 Room Night Growth Exceeded the High End of our Guidance
Q4 Room Night Growth Exceeded the High End of our Guidance Room Nights by Quarter Q4 Highlights (figures in millions) ✔ Room Night Growth (“RNG”) exceeded the high end of our guidance by five percentage points ✔ Room Night Growth by region(1): − Europe: up low double digits − Asia: up mid-teens − Ro
Slide 6: FY 2024 Room Night Growth
FY 2024 Room Night Growth Trailing Twelve Months (“TTM”) Room Nights FY 2024 Highlights (figures in millions) (1) ✔ Room Night Growth by region : − Europe: up high single digits − Asia: up mid-teens − RoW: up high single digits − U.S.: up mid single digits ✔ Regional (1) mix of Global Room Nights: −
Slide 7: Key Highlights
Key Highlights Booking.com Alternative Q4 Alternative Accommodation (“AA”) Room Nights grew 19% Accommodations YoY with mix increasing YoY to 33%. Q4 AA listings up 8% YoY. (1) Q4 Mobile App mix was in the mid 50%’s (up from the (2) Mobile App Mix low 50%’s in Q4 2023) TTM direct mix was in the mid
Slide 8: 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 7.0 7.2 7.4 7.4 7.8 7.9 7.9 AA Listings Growth YoY 8% 9% 12% 11% 11% 10% 8% 8
Slide 9: Mobile App Mix Continues to Steadily Increase Over Time
Mobile App Mix Continues to Steadily Increase Over Time Q4 2024 mid Q4 2023 Q4 2022 low 50%’s high 50%’s 40%’s 9
Slide 10: Q4 Gross Bookings Growth Exceeded the High End of our Guidance Expectations
Q4 Gross Bookings Growth Exceeded the High End of our Guidance Expectations Gross Bookings by Quarter (figures in billions) Q4 Highlights ✔ Gross Bookings growth exceeded the high end of our guidance by eight percentage points ✔ Gross Bookings growth of 17% was due to: − Room Night growth of 13% − S
Slide 11: Q4 Revenue Growth Exceeded the High End of our Guidance Expectations
Q4 Revenue Growth Exceeded the High End of our Guidance Expectations Revenue by Quarter Q4 Highlights (figures in billions) ✔ Revenue growth exceeded the high end of our guidance by five percentage points ✔ Revenue growth was lower than Gross Bookings growth due to impacts from timing and an increas
Slide 12: Q4 Adjusted Fixed OpEx Growth was Below Expectations and Grew Slower than Revenue
Q4 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 YoY Headcount Growth YoY 25% 20% 24% 21% 11% 5% 7% 9% 7% 19% 13% 9% 7% 5% 3% 3% (1) Refer to Appen
Slide 13: Q4 Adjusted EBITDA Exceeded Expectations and Grew Faster than Revenue
Q4 Adjusted EBITDA Exceeded Expectations and Grew Faster than Revenue ● Q4 Adjusted EBITDA of $1.8 billion was 12% above the high end of our guidance (1) (1) Adjusted EBITDA by Quarter Adjusted Diluted EPS by Quarter (figures in billions) Adjusted EBITDA Growth YoY Adjusted Diluted EPS Growth YoY 89
Slide 14: Q4 Free Cash Flow and Capital Return
Q4 Free Cash Flow and Capital Return ● Q4 Free Cash Flow was negatively impacted by a seasonal reduction in our Deferred Merchant Bookings. To account for seasonal variations in our business, we recommend looking at the trailing twelve months for Free Cash Flow. For the twelve months ended December
Slide 15: Q1 2025 Guidance
Q1 2025 Guidance Reported Normalized (1) YoY Growth (Decline) YoY Growth Slightly Higher than Room Nights 5% to 7% Reported High Single Digits to Gross Bookings 5% to 7% Low Double Digits High Single Digits to Revenue 2% to 4% Low Double Digits (2) Mid Single Digits to Adjusted EBITDA (11%) to (5%)
Slide 16: FY 2025 Guidance
FY 2025 Guidance Reported Constant Currency (1) YoY Growth YoY Growth Gross Bookings Mid Single Digits High Single Digits Revenue Mid Single Digits High Single Digits (2) A couple points faster Adjusted EBITDA Low Double Digits than revenue growth (2) Adjusted EPS Low Double Digits Mid-teens (1) Con
Slide 17: 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. 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 (figures in millions, except share and per share data) Note: Amounts may not total due to rounding. NM: Not meaningful. Tax Act: U.S. Tax Cuts and Jobs Act enacted in December 2017. 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
Slide 21: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information 21
Slide 22: 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. 22