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trivago (TRVG) investor relations material
trivago Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 13% year-over-year revenue growth in Q3 2025, marking the third or fourth consecutive quarter of double-digit growth, with strong branded revenue driven by AI-powered campaigns, product enhancements, and successful marketing initiatives.
Adjusted EBITDA improved by 18% year-over-year to €16.0 million, with net income reaching €11.0 million, aided by a €3.2 million gain from the Holisto acquisition.
Strategic acquisition of Holisto (now trivago DEALS Ltd.) completed in July 2025, integrated into operations and financial guidance.
Growth supported by strong branded traffic, AI-powered marketing, and product enhancements improving user experience and marketing efficiency.
Foreign exchange headwinds negatively impacted revenue by approximately 4% globally, but momentum remained strong.
Financial highlights
Q3 2025 total revenue reached €165.6 million, up 13% year-over-year; Referral Revenue was €161.6 million (+11% YoY).
Adjusted EBITDA for Q3 2025: €16.0 million (9.3% of revenue), up 18% year-over-year; net income: €11.0 million.
Cash and cash equivalents stood at €106.3 million as of September 30, 2025, with no long-term debt.
Operational expenses decreased by €12.3 million to €153.4 million, mainly due to the non-recurrence of a €30 million impairment charge from the prior year.
Excluding the impairment, operational expenses increased by €17.7 million, primarily from a €14.5 million rise in selling and marketing expenses.
Outlook and guidance
Expecting mid-teens percentage revenue growth and positive adjusted EBITDA of at least €10 million for full-year 2025.
2026 guidance targets double-digit revenue growth and adjusted EBITDA of around €20 million, with focus on optimizing 27 core travel markets.
Focus remains on scaling profitable marketing and expanding the facilitated booking funnel post-Holisto acquisition.
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Frequently asked questions
Metasearch Engine for Travelers
Trivago is a German company with global operations that operates a metasearch engine, offering users the ability to compare hotel prices from various booking sites. Trivago's interface allows customers to refine their search based on multiple criteria, including location, price range, and hotel features, making it a convenient tool for travelers seeking to get an overview of all available accommodation options. The company is headquartered in Düsseldorf, Germany, and its shares are listed on the Nasdaq.
Founding, Expedia, and Trivago
The company was founded in 2005 and started as a website that aggregated hotel prices and availability from various booking platforms, allowing users to compare prices. The company quickly gained popularity in its native Germany and expanded its services across Europe. In December 2012, Expedia Group, one of the world's largest travel technology companies, announced it would acquire a majority stake in Trivago, and the deal was completed in 2013. Three years later, Trivago went public.
The Search Platform
Trivago offers a global hotel search platform going by the same name as the company. It is designed to simplify the process of finding and booking accommodations by aggregating data from various booking sites, allowing users to compare hotel prices, locations, and amenities in a single, user-friendly interface. Trivago's extensive database includes a wide range of accommodations, from budget hotels to luxury resorts, catering to diverse traveler preferences. The platform offers additional features like reviews and rating filters, allowing users to find accommodations that fit their specific wants and needs.
How Trivago Makes Money
Trivago generates revenue primarily through a cost-per-click (CPC) model. Hotel chains, such as Hilton Worldwide or Hyatt Hotels, and booking sites pay a fee to Trivago each time a user clicks on a listing. The company also runs advertisements on its website.
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