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Tripadvisor : TRIP 2Q2026 Investor Presentation
Tripadvisor : TRIP 2Q2026 Investor
About this update from Tripadvisor, Inc.
Tripadvisor Q2 2026 Investor Presentation August 2026 Group The world's most trusted source for travel and experiences 3 3 TheFork Transaction Transaction originally announced June 15, 2026. Summary Benefits On June 14, 2026, Tripadvisor, Inc. ("Tripadvisor" or the "Company") announced it entered into an agreement with American Express to sell TheFork, its European online restaurant reservation and management platform. Sale price is $700 million in an all-cash transaction. The Company anticipates minimal tax leakage from the sale of TheFork, with net proceeds expected to closely approximate the gross proceeds, less transaction costs. The transaction is progressing and expected to be completed by year end 2026. Reinforces the Group's operating focus Reflects Tripadvisor's stated strategy to prioritize opportunities in Experiences and simplify focus Highlights the full value of TheFork Validates TheFork's strong consumer brand with unique value proposition for both diners and restaurants, and its position as a leader in Europe Provides flexibility in capital allocation decisions Proceeds provide more capacity for share repurchases, debt paydown, or inorganic opportunities in Experiences Reflects the strategic value in the Group's broader portfolio Deepens Tripadvisor's relationship with a trusted global brand with large presence across travel, dining and experiences 4 Post-Transaction Group Structure Remains focused on stated strategic priorities Extend leadership in Experiences Position for an AI-enabled future Leading global online bookable experiences platform World's largest online travel guidance platform Simplify focus of legacy offerings Large Global Audience Trusted Brands Unique, Community-Driven Content Strong Partner Relationships Drive sustainable, profitable growth Group Data | Technology | World-Class Talent 5 Focused on Priorities Designed to Drive Group Growth Extend leadership in experiences Drive long-term growth in revenue and profit and expand market share under simplified, streamlined structure, strategy, and roadmap Position for a future of AI-enabled travel Deploy the Group's unique data assets to powering product, marketing, productivity and AI-first initiatives Simplify focus of legacy Tripadvisor portfolio Simplify legacy portfolio to support experiences and data strategies & optimize legacy portfolio to optimize for profitability Drive sustainable, profitable growth Continue to execute a financially disciplined growth strategy for the Group 6 Financial Highlights 7 7 Revenue Performance Reflective of Group Priorities Experiences-led strategy and simplification of legacy offerings shifting revenue mix Experiences Continuing Operations: Revenue Mix 1,639 1,658 1,674 1,614 Commission-based revenue facilitated directly and indirectly through platform and on behalf of third-party distribution partner websites Hotels & Other Click-based advertising for OTAs and suppliers; display advertising, click-based revenue on dining and cruise, and B2B solutions for restaurants and hotels. 8 Quarterly Results: Continuing Operations Revenue & Adjusted EBITDA Beginning in Q2 2026 results include only the Experiences and Hotels & Other segments, presented as continuing operations. Given the pending transaction, announced on June 15, 2026, TheFork is considered "held for sale," under accounting guidelines and shown as discontinued operations in our results. All periods shown include only continuing operations. Please see the appendix of this presentation, and our press release dated August 6, 2026, for more information, and for a re-cast of the segments. Continuing Operations Revenue ($M) Continuing Operations Adj. EBITDA ($M) As % of Rev 20% 22% 12% 5% 17% Note: Total Adjusted EBITDA is a non-GAAP measure. Please refer to "Non-GAAP Reconciliations" in the Appendix for definitions of our non-GAAP financial measures, as well as reconciliations to the most directly comparable GAAP measure. 9 Quarterly Revenue & Adjusted EBITDA by Segment Experiences Revenue ($M) Adj. EBITDA ($M) Hotels & Other Revenue ($M) Adj. EBITDA ($M) Note: Adjusted EBITDA is our segment profit measure. Please refer to the appendix of this presentation for its definition. 10 Quarterly Free Cash Flow & Liquidity Free Cash Flow ($M) Liquidity position at 06/30/2026 ($M) 1,339 Free cash flow from continuing operations is a non-GAAP measure. Please refer to "Non-GAAP Reconciliations" in the Appendix for definitions of our non-GAAP financial measures, as well as reconciliations to the most directly comparable GAAP measure. 11 12 12 Experiences Market-leading brands driving expansion of global online experiences Broad coverage ✔ Viator OTA capturing high-intent travelers ✔ Tripadvisor capturing upper funnel guidance & planning phase + ✔ Third party: providing experiences supply to OTAs, hotels, travel agencies, and other partners Favorable tailwinds for global experiences ✔ Offline to online growing faster than overall market ✔ 4x faster growth of consumer spend on experience-related services v. goods 1 Marketplace offering, connecting travelers and tour operators Travelers: Easy discovery of high-quality experiences reviewed and confirmed by travelers Wide choice of products Flexibility to book and cancel Leading customer service Operators: Expanded distribution Hassle free bookings Marketing and analytics products to manage and grow their business Global Tours and Experiences Market (Gross Bookings $B) 1. Phocuswright/Arival 2019-2027E CAGR Source: Arival and company information 13 Driving growth, scale, and profitability through marketing, product & supply flywheel Experiences booked growth GBV ($B) Adjusted EBITDA ($M) & Margin Product Better experience | Store Conversion via UX, personalization, AI product selection, driving loyalty and repeating customers Marketing Demand & Traffic Attracting customers through growing marketing efficiency, geographic & channel expansion Supply Better selection Secondary and tertiary markets, category expansion 14 Experiences Summary Highlights ~$4.7B+ FY2025 GBV +425K Bookable Experiences ~4x more bookable experiences vs closest competitor 1 +70K Operators Mid-20s Take Rates 4,000+ Demand Partners Including Nearly Every Travel Brand Note: All figures as of year end 2025 unless otherwise noted 1. Bookable experience counts of competitors are based on internal estimates. Variations on the same tour experience are counted as a single experience. 15 16 16 Hotels & Other Unique position at the intersection of travelers and partners Durable asset that is difficult to replicate ✔ Trusted brand ✔ Authentic UGC ✔ Large community of contributors ✔ Large global audience Trusted source for end-to-end travel planning & guidance Travelers: Community-driven insight and engagement through reviews and forums Bookings for experiences, hotels, restaurants and other Partners: Global hotel meta platform Key advertising platform for travel brands and beyond Global Travel Market Gross Bookings ($T) 2019-2027 CAGR Source: Phocuswright (includes air, hotel, rail, packaged travel, car rental and cruise) 17 Assets positioned to support growth in experiences and data strategies UGC, data and technology valuable enablers of product and partnership across travel categories Product Productivity Partnerships 18 Trip planning tools, guidance, and recommendations Product personalization and predictive analytics Content + SEO: Review and forum summaries Conversational Chatbot/Search Engineering tools (code snippets, testing, search) Trust & Safety - reduce human moderation efforts while increasing the quality of detection Customer service Translation/localization Analytics Forging content solutions and partnerships with leading companies Optimizing LT position in the ecosystem Partnering with leading AI companies GenAI search engines Agentic AI App integration Serving travelers under a globally recognized and trusted brand Across 43 global markets Hotels & Other Summary Highlights Millions of contributors a year Authentic traveler content Valuable assets including a trusted brand, global audience, scalable content model, high-intent data, and significant supply footprint 1B+ Reviews & Opinions World-class content moderation Multiple ways of connecting consumers with our partners 19 Note: All figures as of year end 2025 unless otherwise noted *Annual active members Thank You Attention : This is an excerpt of the original content. 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