trivago (TRVG) Q1 2025 earnings summary

Executive summary

• Achieved 22% year-over-year revenue growth in Q1 2025, surpassing expectations and driven by strong brand marketing, product enhancements, and AI-powered campaigns.

• Adjusted EBITDA loss improved to €6.5 million, and net loss narrowed to €7.8 million, both better than internal expectations and prior year.

• All segments delivered double-digit referral revenue growth: Rest of World 44%, Developed Europe 19%, Americas 18%.

• Strategic focus on brand marketing, core hotel search, and partner empowerment, with notable success in AI-powered and celebrity-led campaigns.

• Acquisition of the remaining 70% of Holisto to enhance conversion rates and user experience, with positive medium-term impact expected.

Financial highlights

• Q1 2025 total revenue reached €124.1 million, up from €101.4 million in Q1 2024.

• Adjusted EBITDA for Q1 2025 was -€6.5 million, improved from -€9.2 million in Q1 2024.

• Net loss for Q1 2025 was -€7.8 million, compared to -€8.4 million in Q1 2024.

• Operational expenses rose to €133.7 million, mainly due to increased brand marketing investments.

• Cash and cash equivalents stood at €118.6 million as of March 31, 2025, with no long-term debt.

Outlook and guidance

• Full-year 2025 revenue growth guidance raised to mid-teens percent, with positive adjusted EBITDA expected, similar to last year.

• Strong double-digit revenue growth continued in April and early Q2 2025.

• Further scaling of brand marketing investments anticipated, with flexibility to adjust spend in response to market volatility.

• Impact of Holisto acquisition not yet reflected in guidance; expected to positively affect top line without negative bottom-line impact.