NextTrip (NTRP) Q4 2025 earnings summary

Executive summary

• Revenue increased 641% year-over-year to $3.7M, driven by acquisitions and new product launches.

• Net loss widened to $16.2M from $10.2M, reflecting higher operating expenses and integration costs.

• Significant acquisitions included Five Star Alliance, TA Pipeline, JOURNY.tv, and GoUSA TV, expanding both travel and media segments.

• The company remains in early-stage development, with substantial doubt about its ability to continue as a going concern.

Financial highlights

• Revenue: $3.7M for FY26, up from $0.5M in FY25, mainly from group and luxury travel and media advertising.

• Gross margin improved to 18% from 1% year-over-year, due to higher-margin bookings and advertising.

• Operating expenses rose 129% to $17.0M, driven by stock-based compensation, professional fees, and integration costs.

• Net loss applicable to common stockholders: $16.2M, up 59% from prior year.

• Cash used in operations: $4.6M; cash at year-end: $1.7M; working capital deficit: $0.8M.

Outlook and guidance

• Management expects continued net losses and negative cash flows as investments in technology, marketing, and integration continue.

• At least $5.5M–$7.0M in new capital is needed to fund operations for the next 12 months.

• No guidance provided for profitability; future results depend on successful capital raising and revenue growth.