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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
Travelzoo
Travelzoo (TZOO) investor relations material
Travelzoo Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary19 Feb, 2026
Executive summary
Q4 2025 revenue reached $22.5 million, up 9% year-over-year; constant currency revenue was $22.1 million, up 7%.
Operating profit declined to $0.6 million (3% of revenue) from $4.9 million due to increased marketing spend for member acquisition.
Membership growth accelerated, with a 180% increase year-to-date, driven by both legacy and new members.
Net loss attributable to shareholders was $19,000, or $0.00 per share, compared to $0.26 per share profit in Q4 2024.
Strategic focus remains on growing club members, recurring revenue, and leveraging exclusive travel offers.
Financial highlights
Advertising and commerce revenue was $18.3 million; membership fees rose to $4.1 million, now about 25% of total revenue.
Non-GAAP operating profit was $0.9 million (4% of revenue), down from $5.4 million year-over-year.
Cash, cash equivalents, and restricted cash totaled $10.8 million as of December 31, 2025.
Cash flow from operations was $1.5 million, with a corresponding increase in cash balance.
Gross profit for Q4 2025 was $17.5 million, with total operating expenses of $17.0 million.
Outlook and guidance
Year-over-year revenue growth expected to continue in Q1 2026 and subsequent quarters.
Profitability anticipated to improve as recurring membership revenue is recognized over time.
Short-term net income may fluctuate due to immediate expensing of marketing costs.
Membership fee increases to $50 in the US for 2026, with legacy members offered a renewal at the old rate before February.
Membership fees are expected to account for around 25% of total revenue in 2026.
When will member acquisition ROI turn profitable
Europe's path to operating profit
Jack's Flight Club subscriber growth strategy
Outlook for short-term EPS impact from 2026 marketing
What is the target membership fee revenue share beyond 2026?
How do new benefits impact member retention?
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Next Travelzoo earnings date
Q1 202628 Apr, 2026
Travelzoo
Next Travelzoo earnings date
Q1 202628 Apr, 2026
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Frequently asked questions
Travelzoo is an internet media company that publishes travel, entertainment, and local deals through its digital platforms. It curates offers from travel and lifestyle companies and promotes them via newsletters, websites, and mobile applications. Travelzoo serves subscribers in North America, Europe, and Asia-Pacific, helping users access discounted rates on flights, hotels, and experiences. The company is headquartered in New York, New York, and its shares are listed on the NASDAQ.
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