Thursday, March 23, 2023
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Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Patrick McCann, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Strong Q4 results. The company reported strong Q4 operating results, with revenue up 31.6% to $18.6 million and Adj. EBITDA up an impressive 328% to $4.7 million. Notably, the company’s North America segment grew revenue by 53% and reported margins of 29%. The company benefited from favorable travel trends and lower operating expenses, particularly marketing expenses.
Favorable trends. The company has positive revenue and margin momentum moving into 2023. Management highlighted the opportunity for further margin growth given potential advertising price increases in Q2. The company appears to be benefiting from pent up travel demand from its travel enthusiast base.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
