TripAdvisor (TRIP) Q4 2024 earnings summary

Executive summary

• Exceeded expectations on both top and bottom line for Q4 and full year 2024, with consolidated revenue up 5% in Q4 to $411M and full-year revenue at $1.8B.

• All three segments—Viator, TheFork, and Brand Tripadvisor—contributed positively to group profit for the first time, with over half of revenue now from Viator and TheFork.

• Adjusted EBITDA reached $73M in Q4 (18% margin) and $339M for the year.

• Net income for Q4 was $2M ($0.01 diluted EPS); full year net income was $5M ($0.04 diluted EPS).

• Strategic focus on experiences and dining marketplaces, with Viator and TheFork driving incremental Adjusted EBITDA and positioning for sustainable multi-year growth.

Financial highlights

• Q4 consolidated revenue grew 5% year-over-year to $411M; Adjusted EBITDA was $73M (18% margin).

• Full-year 2024 revenue reached $1.8B, up 3%; Adjusted EBITDA was $339M (18% margin).

• Viator Q4 revenue grew 16% to $186M; TheFork Q4 revenue up 23% to $48M; Brand Tripadvisor Q4 revenue declined 6% to $204M.

• FY24 revenue: $949M for Brand Tripadvisor (-8% y/y), $840M for Viator (+14% y/y), $181M for TheFork (+18% y/y).

• Q4 operating cash flow was negative $2M; full-year operating cash flow was $144M; ended 2024 with $1.1B in cash and cash equivalents.

Outlook and guidance

• 2025 consolidated revenue growth expected at 5%-7%, with Adjusted EBITDA margin of 16%-18%.

• Viator expected to see mid- to high-teens booking volume growth and low- to mid-teens revenue growth, with margin improvement; FX headwind of 2 points.

• TheFork revenue growth expected in low double digits (5 pts FX headwind); Brand Tripadvisor to see low single-digit revenue declines, improving in the second half.

• Q1 2025 guidance: consolidated revenue flat to low single-digit decline, Adjusted EBITDA margin 5%-7%.

• 2025 plan emphasizes disciplined investment in key initiatives and resource alignment to support long-term growth.