Vacasa (VCSA) investor relations material

Executive summary

• Vacasa operates a leading vacation rental management platform with ~36,500 home listings as of Dec 31, 2024, across the US and select international markets.

• 2024 revenue was $910.5M, down 19% year-over-year, with a net loss of $154.9M, improved from a $528.2M loss in 2023.

• The company entered a merger agreement with Casago Holdings in Dec 2024; if completed, Vacasa will become a wholly owned subsidiary and its stock will be delisted from Nasdaq.

• Significant restructuring in 2024 included workforce reductions and a shift to empower local operations, aiming to reduce costs and improve efficiency.

• Vacasa faces ongoing competitive, regulatory, and operational challenges, with continued softness in guest bookings and homeowner churn.

Financial highlights

• Revenue for 2024: $910.5M, down from $1,118.0M in 2023 (19% decrease).

• Net loss for 2024: $154.9M, improved from $528.2M in 2023.

• Adjusted EBITDA for 2024: $(0.7)M, compared to $23.5M in 2023.

• Gross Booking Value (GBV) for 2024: $1.86B, down 20% year-over-year.

• Nights Sold: 5.08M in 2024, down 19% from 2023.

• Cash and cash equivalents as of Dec 31, 2024: $88.5M.

Outlook and guidance

• Management expects continued softness and variability in guest bookings, with ongoing pressure on revenue and cash position.

• The company believes existing liquidity will be sufficient for at least the next 12 months, but additional financing may be needed if adverse trends persist.

• If the merger with Casago is completed, Vacasa will cease to be a public company and stockholders will receive $5.02 per share, subject to adjustments.