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Travelzoo (TZOO) – Q4 Caps A Solid Year Of Growth

Media and Entertainment
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Thursday, February 29, 2024

Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

In Line Q4 results. Q4 revenues were $21.2 million, in line with our $21.8 million estimate. The results reflected disparity in performance, however, between North America (up 5%) and Europe (up 34%). Adj. EBITDA was $5.3 million versus our $4.7 million estimate. 

Pent up travel demand. We believe that 2023 reflected another year of pent up travel demand by travel enthusiasts following the pandemic. The fourth quarter, however, indicated that the strong advertising demand may be waning, particularly in North America, possibly as travelers face economic challenges. North American revenue growth decelerated from 28% in Q3 to 5% in Q4. 


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