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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Summary of Segment Information The elimination of such intersegment transactions is included within the “Corporate & Eliminations” column in the tables below.

 

 

Three months ended June 30, 2025

 

 

 

 

 

 

Brand Tripadvisor (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

205

 

 

$

270

 

 

$

54

 

 

$

—

 

 

$

529

 

Intersegment revenue

 

 

37

 

 

 

—

 

 

 

—

 

 

 

(37

)

 

 

—

 

  Total Revenue

 

$

242

 

 

$

270

 

 

$

54

 

 

$

(37

)

 

$

529

 

Less: (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

9

 

 

 

28

 

 

 

5

 

 

 

—

 

 

 

42

 

Marketing

 

 

82

 

 

 

162

 

 

 

11

 

 

 

(37

)

 

 

218

 

Personnel (exclusive of stock-based compensation as shown separately below)

 

 

62

 

 

 

36

 

 

 

22

 

 

 

—

 

 

 

120

 

Technology

 

 

14

 

 

 

8

 

 

 

3

 

 

 

—

 

 

 

25

 

General and administrative (5)

 

 

9

 

 

 

4

 

 

 

4

 

 

 

—

 

 

 

17

 

Adjusted EBITDA

 

 

66

 

 

 

32

 

 

 

9

 

 

 

—

 

 

 

107

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(23

)

 

 

(23

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(29

)

 

 

(29

)

Legal reserves, settlements and other (6)

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

4

 

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

59

 

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(12

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

47

 

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(11

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

36

 

 

 

 

Three months ended June 30, 2024

 

 

 

 

 

 

Brand Tripadvisor (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

211

 

 

$

244

 

 

$

42

 

 

$

—

 

 

$

497

 

Intersegment revenue

 

 

39

 

 

 

—

 

 

 

—

 

 

 

(39

)

 

 

—

 

  Total Revenue

 

$

250

 

 

$

244

 

 

$

42

 

 

$

(39

)

 

$

497

 

Less: (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (7)

 

 

8

 

 

 

25

 

 

 

3

 

 

 

—

 

 

 

36

 

Marketing

 

 

68

 

 

 

166

 

 

 

9

 

 

 

(39

)

 

 

204

 

Personnel (exclusive of stock-based compensation as shown separately below)

 

 

65

 

 

 

33

 

 

 

21

 

 

 

—

 

 

 

119

 

Technology

 

 

13

 

 

 

6

 

 

 

3

 

 

 

—

 

 

 

22

 

General and administrative (8)

 

 

12

 

 

 

4

 

 

 

3

 

 

 

—

 

 

 

19

 

Adjusted EBITDA

 

 

84

 

 

 

10

 

 

 

3

 

 

 

—

 

 

 

97

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(21

)

 

 

(21

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(34

)

 

 

(34

)

Legal reserves, settlements and other (9)

 

 

 

 

 

 

 

 

 

 

 

(4

)

 

 

(4

)

Transaction related expenses

 

 

 

 

 

 

 

 

 

 

 

(2

)

 

 

(2

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

36

 

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

 

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

38

 

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(14

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

24

 

 

 

 

Six months ended June 30, 2025

 

 

 

 

 

 

Brand Tripadvisor (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

400

 

 

$

426

 

 

$

101

 

 

$

—

 

 

$

927

 

Intersegment revenue

 

 

61

 

 

 

—

 

 

 

—

 

 

 

(61

)

 

 

—

 

  Total Revenue

 

$

461

 

 

$

426

 

 

$

101

 

 

$

(61

)

 

$

927

 

Less: (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

14

 

 

 

44

 

 

 

10

 

 

 

—

 

 

 

68

 

Marketing

 

 

143

 

 

 

276

 

 

 

31

 

 

 

(61

)

 

 

389

 

Personnel (exclusive of stock-based compensation as shown separately below)

 

 

127

 

 

 

68

 

 

 

41

 

 

 

—

 

 

 

236

 

Technology

 

 

27

 

 

 

14

 

 

 

7

 

 

 

—

 

 

 

48

 

General and administrative (5)

 

 

19

 

 

 

9

 

 

 

7

 

 

 

—

 

 

 

35

 

Adjusted EBITDA

 

 

131

 

 

 

15

 

 

 

5

 

 

 

—

 

 

 

151

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(44

)

 

 

(44

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(57

)

 

 

(57

)

Legal reserves, settlements and other (6)

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

4

 

Restructuring and other related reorganization costs (10)

 

 

(9

)

 

 

—

 

 

 

(1

)

 

 

 

 

 

(10

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

44

 

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(17

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

27

 

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

25

 

 

 

 

Six months ended June 30, 2024

 

 

 

 

 

 

Brand Tripadvisor (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

424

 

 

$

385

 

 

$

83

 

 

$

—

 

 

$

892

 

Intersegment revenue

 

 

66

 

 

 

—

 

 

 

—

 

 

 

(66

)

 

 

—

 

  Total Revenue

 

$

490

 

 

$

385

 

 

$

83

 

 

$

(66

)

 

$

892

 

Less: (4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (7)

 

 

15

 

 

 

40

 

 

 

5

 

 

 

—

 

 

 

60

 

Marketing

 

 

129

 

 

 

280

 

 

 

23

 

 

 

(66

)

 

 

366

 

Personnel (exclusive of stock-based compensation as shown separately below)

 

 

135

 

 

 

64

 

 

 

43

 

 

 

—

 

 

 

242

 

Technology

 

 

26

 

 

 

12

 

 

 

6

 

 

 

—

 

 

 

44

 

General and administrative (11)

 

 

24

 

 

 

7

 

 

 

6

 

 

 

—

 

 

 

37

 

Adjusted EBITDA

 

 

161

 

 

 

(18

)

 

 

—

 

 

 

—

 

 

 

143

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(42

)

 

 

(42

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(61

)

 

 

(61

)

Legal reserves, settlements and other (12)

 

 

 

 

 

 

 

 

 

 

 

(14

)

 

 

(14

)

Restructuring and other related reorganization costs

 

 

 

 

 

 

 

 

(1

)

 

 

 

 

 

(1

)

Transaction related expenses

 

 

 

 

 

 

 

 

 

 

 

(3

)

 

 

(3

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22

 

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—

 

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22

 

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(57

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(35

)
(1)
Corporate general and administrative personnel costs of $2 million and $4 million for both the three and six months ended June 30, 2025 and 2024, respectively, were allocated to the Viator and TheFork segments.
(2)
Includes allocated corporate general and administrative personnel costs from our Brand Tripadvisor segment of $1 million and $2 million for both the three and six months ended June 30, 2025 and 2024, respectively.
(3)
Includes allocated corporate general and administrative personnel costs from our Brand Tripadvisor segment of $1 million and $2 million for both the three and six months ended June 30, 2025 and 2024, respectively.
(4)
The significant segment expense categories and amounts align with the segment-level information that is regularly provided to our CODM.
(5)
Exclusive of $4 million in the Brand Tripadvisor segment which is included separately below in legal reserves, settlements and other.
(6)
Represents a decrease of $4 million to a previously estimated accrual for the potential settlement of a regulatory related matter during the second quarter of 2025, reflected in general and administrative expenses on our unaudited condensed consolidated statement of operations. Refer to "Note 8: Commitments and Contingencies" for further information.
(7)
Exclusive of $2 million in both the Brand Tripadvisor and Viator segments, which are included separately below in legal reserves, settlements and other.
(8)
Exclusive of $2 million in the Brand Tripadvisor segment, which is included separately below in transaction related expenses.
(9)
This amount includes a one-time charge of $4 million during the second quarter of 2024, resulting from enacted tax legislation in Canada during June 2024 related to digital service taxes, which required retrospective application back to January 1, 2022. This amount represents a one-time retrospective liability for the periods prior to April 1, 2024, while all prospective periods are and will be included within adjusted EBITDA, respectively. This expense is reflected in cost of sales on our unaudited condensed consolidated statement of operations.
(10)
Refer to “Note 5: Accrued Expenses and Other Current Liabilities” for information regarding restructuring and other related reorganization costs.
(11)
Exclusive of $13 million in the Brand Tripadvisor segment which is included separately below in legal reserves, settlements and other and transaction related expenses.
(12)
Represents an estimated accrual for the potential settlement of a regulatory related matter of $10 million expensed during the first quarter of 2024 and is reflected in general and administrative expenses on our unaudited condensed consolidated statement of operations. Refer to "Note 8: Commitments and Contingencies" for further information. In addition, this amount included a one-time charge of $4 million during the second quarter of 2024, resulting from enacted tax legislation in Canada during June 2024 related to digital service taxes, which required retrospective application back to January 1, 2022. This amount represents a one-time retrospective liability for the periods prior to April 1, 2024, while all prospective periods are and will be included within adjusted EBITDA, respectively. This expense is reflected in cost of sales on our unaudited condensed consolidated statement of operations.