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Travelzoo (TZOO) investor relations material
Travelzoo Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
- Q3 2025 revenue reached $22.2 million, up 10% year-over-year, with growth across all business segments driven by investments in Club Member growth. 
- Operating profit declined to $0.5 million from $4.0 million in Q3 2024 due to increased marketing and member acquisition costs. 
- Club Membership base expanded 135% year-to-date, with new members split between legacy and new customers. 
- Jack's Flight Club revenue rose 12% year-over-year, with an 8% increase in premium subscribers. 
- Net income attributable to shareholders was $0.2 million, or $0.01 per share, down from $0.26 per share in the prior-year period. 
Financial highlights
- Membership fees increased to $3.6 million in Q3 2025, up from $1.4 million in Q3 2024, and are expected to reach 25% of total revenue next year. 
- Advertising and commerce revenue was $18.6 million. 
- Non-GAAP operating profit was $1.1 million (5% of revenue), down from $4.9 million prior year. 
- Cash, cash equivalents, and restricted cash totaled $9.2 million as of September 30, 2025. 
- Cash flow from operations was negative $0.4 million; 148,602 shares repurchased during the quarter. 
Outlook and guidance
- Year-over-year revenue growth is expected to continue in Q4 2025 and accelerate in subsequent quarters as more membership fees are recognized. 
- Profitability is anticipated to increase as recurring membership fees are recognized over time, though short-term net income may fluctuate due to immediate expensing of marketing costs. 
- Management expects margins to recover as investments in member acquisition yield future revenue. 
- Potential membership fee increases under consideration for certain markets in 2026. 
Next Travelzoo earnings date

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