XML 28 R17.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Segment Reporting and Significant Customer Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segments Reporting and Significant Customer Information Segment Reporting and Significant Customer Information
The Company determines its reportable segments based upon the chief operating decision maker’s management of the business. The Company currently has four reportable operating segments: Travelzoo North America, Travelzoo Europe, Jack’s Flight Club and New Initiatives. Travelzoo North America consists of the Company’s operations in the U.S. and Canada. Travelzoo Europe consists of the Company’s operations in France, Germany, Spain and the U.K. Jack’s Flight Club consists of subscription revenues from premium members to access and receive flight deals from Jack’s Flight Club via email or mobile applications. New Initiatives consists of Travelzoo’s licensing activities in certain Asia Pacific territories, the Travelzoo META subscription service and MTE.
Management relies on an internal management reporting process that provides revenue and segment operating profit (loss) for making financial decisions and allocating resources. Management believes that segment revenues and operating profit (loss) are appropriate measures for evaluating the operational performance of the Company’s segments.
The following is a summary of operating results by business segment (in thousands):
Three Months Ended March 31, 2024Travelzoo North
America		Travelzoo EuropeJack’s Flight Club New InitiativesConsolidated
Revenues from unaffiliated customers$14,273 $6,580 $1,100 $32 $21,985 
Intersegment revenues(45)82 (37)— — 
Total net revenues14,228 6,662 1,063 32 21,985 
Operating profit (loss)$4,438 $1,382 $(99)$(130)$5,591 
Three Months Ended March 31, 2023Travelzoo North
America		Travelzoo EuropeJack’s Flight Club New InitiativesConsolidated
Revenues from unaffiliated customers$14,567 $6,078 $948 $8 $21,601 
Intersegment revenues 191 (191)— — — 
Total net revenues14,758 5,887 948 8 21,601 
Operating profit (loss)$4,516 $457 $(45)$(217)$4,711 
Property and equipment are attributed to the geographic region in which the assets are located. Revenues from unaffiliated customers excludes intersegment revenues and represents revenue with parties unaffiliated with the Company and its wholly owned subsidiaries.
The following is a summary of assets by business segment (in thousands):
As of March 31, 2024Travelzoo North
America		Travelzoo EuropeJack’s Flight ClubNew InitiativesEliminationConsolidated
Long-lived assets$129 $113 $— $290 $— $532 
Total assets excluding discontinued operations$96,599 $22,201 $19,474 $3,520 $(87,058)$54,736 
As of December 31, 2023Travelzoo North
America		Travelzoo EuropeJack’s Flight ClubNew InitiativesEliminationConsolidated
Long-lived assets$152 $106 $— $320 $— $578 
Total assets excluding discontinued operations$96,865 $22,655 $19,472 $3,570 $(87,181)$55,381 
For the three months ended March 31, 2024 and 2023, the Company did not have any customers that accounted for 10% or more of revenue. As of March 31, 2024 and December 31, 2023, the Company did not have any customers that accounted for 10% or more of accounts receivable.
The following table sets forth the breakdown of revenues (in thousands) by category: Advertising, Membership Fees, and Other. Advertising includes travel publications (Top 20, Travelzoo website, Standalone email newsletters, Travelzoo Network), Getaways vouchers, hotel platform, vacation packages, Local Deals vouchers and entertainment offers (vouchers and direct bookings). Membership Fees includes subscription fees paid by Travelzoo, Jack's Flight Club and Travelzoo META members. Travelzoo and Jack's Flight Club members. Other includes licensing fees from license agreements and the existing retail business acquired by the Company in the MTE transaction.
Three Months Ended
 March 31,
 20242023
Advertising$20,850 $20,645 
Membership Fees1,104 948 
Other31 8 
Total revenues$21,985 $21,601 
Revenue by geography is based on the billing address of the advertiser. Long-lived assets attributed to the U.S. and international geographies are based upon the country in which the asset is located or owned. The following table sets forth revenue for countries that exceed 10% of total revenue (in thousands):
Three Months Ended
March 31,
 20242023
Revenue
United States $12,771 $13,473 
United Kingdom5,515 4,962 
Germany1,871 1,495 
Rest of the world1,828 1,671 
Total revenues$21,985 $21,601 

The following table sets forth property and equipment by geographic area (in thousands):  
 March 31,December 31,
 20242023
United States $106 $115 
China (Hong Kong)279 308 
Rest of the world 147 155 
Total long-lived assets$532 $578