Travelzoo · NASDAQ:TZOO
Travelzoo — Q4 2021 Earnings Presentation
15 slides from Travelzoo's earnings presentation, Mar 3, 2022
Slide 1: Fourth Quarter 2021 Performance
NASDAQ: TZOO Fourth Quarter 2021 Performance March 3, 2022
Slide 2: Important Notice to Investors
1 Important Notice to Investors Please read this management presentation together with the Company’s press release issued earlier today announcing the Company’s fourth quarter 2021 financial results and in conjunction with the Company’s recent Annual Report and Quarterly Reports as filed with the Se
Slide 3: Part 1: Fourth Quarter 2021 Performance; Part 2: Management Focus
2 Part 1: Fourth Quarter 2021 Performance Part 2: Management Focus Fourth Quarter 2021 Performance
Slide 4: On our way back to pre-pandemic levels, Omicron affected Q4 revenue and income
On our way back to pre-pandemic levels, the surge of the Omicron 3 variant affected our reported revenue and income in Q4. Financial Performance (Continuing Operations) Revenue EPS Members $ millions $ per share 30.3 30.2 30.3 25.3 14.1 12.5 0.15 0.02 Q4 2021 Q4 2019 Q4 2020 Q4 2021 Q4 2019 Q4 2020
Slide 5: Reported revenues net of cautionary increase in reserves lowered revenue and income
Reported revenues are net of a cautionary increase in reserves, 4 which lowered revenue and income by $1.6 million in Q4. North America Business Segment Europe Business Segment Revenue $ millions Q4 2019 16.2 9.1 Q4 2020 8.9 2.7 Q4 2021 8.6 4.8 53% 53% Operating Income $ millions Q4 2019 2.0 0.9 Q4
Slide 6: Non-GAAP operating loss was $2.1 million
Non-GAAP operating loss, which we use to measure our financial 5 performance, was $2.1 million. Non-GAAP Operating Income* GAAP Operating Income $ millions Adjustments Non-GAAP Operating Income* 0.5 1.3 1.1 1.4 (0.9) (0.3) (2.1) (3.4) 1.3 Q4 2020 Q3 2021 Q4 2021 * GAAP operating income + impairment
Slide 7: Details on items excluded from Non-GAAP operating profit
Here are the details on the items that are excluded in the calculation 6 of Non-GAAP operating profit. $ millions Q4 2020 Q3 2021 Q4 2021 Adjustments 1.4 1.4 1.3 Impairment of intangibles and goodwill 0 0 0 Amortization of intangibles 0.3 0.3 0.3 Stock option expense 1.0 0.9 0.9 Severance-related ex
Slide 8: Cash balance reached the expected level
The cash balance reached the expected level as merchant payables 7 decreased and receivables/deposits increased by $14 million in a transition of switching to an efficient payment processor. Cash Balance at End of Quarter* $ millions 64.2 66.4 45.0 Q4 2020 Q3 2021 Q4 2021 * Includes cash, cash equiv
Slide 9: North America business segment revenue
North America business segment revenue 8 North America Revenue by Type $ millions YOY %* YOY % change change 8.9 8.6 8.5 (constant F/X) (as reported) 0.6 0.9 0.9 45% 45% 8.3 7.7 7.6 -8% -8% Q4 2020 Q4 2021 Q4 2021 at constant F/X* Local Travel * Based on constant F/X rates for CAD Fourth Quarter 202
Slide 10: Europe business segment revenue
Europe business segment revenue 9 Europe Revenue by Type $ millions YOY %* YOY % change change 4.7 4.8 (constant F/X) (as reported) 0.9 0.9 190% 193% 2.7 0.3 3.8 3.9 60% 62% 2.4 Q4 2020 Q4 2021 Q4 2021 at constant F/X* Local Travel * Based on constant F/X rates for EUR and GBP Fourth Quarter 2021 Pe
Slide 11: We have been able to lower our fixed costs during the pandemic
During the pandemic, we have been able to lower our fixed costs. We 10 believe we can keep them relatively low in the foreseeable future—while revenue is expected to grow. Financial Performance Revenue Operating Expenses and Cost of Revenues $ millions $ millions 26.1 1.6 3.7 25.3 0.2 22.2 17.6 15.9
Slide 12: More than 30 million members, 6.9 million mobile app users, 4 million social followers
With more than 30 million members, 6.9 million mobile app users, 11 and 4 million social media followers, Travelzoo is loved by travel enthusiasts who are affluent, active, and open to new experiences. Travelzoo's Global Reach High-Quality Users, Followers and Subscribers Members (Email Subscribers)
Slide 13: Part 2: Management Focus
12 Part 1: Fourth Quarter 2021 Performance Part 2: Management Focus Fourth Quarter 2021 Performance
Slide 14: Management Focus
Management Focus 13 • Seize the exceptional industry opportunities for providing 30 million Travelzoo members with exclusive and irresistible travel, entertainment, and local offers and experiences. • Increase members in 2022 and accelerate revenue growth. • Grow Jack's Flight Club’s profitable sub
Slide 15: Have a nice day!
NASDAQ: TZOO HAVE A NICE DAY! For questions, please contact Travelzoo Investor Relations: ir@travelzoo.com