Travelzoo (TZOO) Tops Q3 EPS by 9c, Revenues Beat

Travelzoo (NASDAQ: TZOO) reported Q3 EPS of ($0.10), $0.09 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $13.8 million versus the consensus estimate of $12.37 million.

• Consolidated revenue of $13.8 million, down 42% from $23.8 million year-over-year
• Net loss of $1.2 million
• Non-GAAP consolidated operating profit of $1.2 million
• Earnings per share (EPS) of ($0.10) attributable to Travelzoo from continuing operations

Travelzoo, a global Internet media company that publishes exclusive offers and experiences for members, today announced financial results for the third quarter ended September 30, 2020. Consolidated revenue was $13.8 million, down 42% from $23.8 million year-over-year. Revenue increased by 97% from $7.0 million in Q2 2020. Reported revenue excludes revenue from discontinued operations in Asia Pacific. Travelzoo's reported revenue consists of advertising revenues and commissions, derived from and generated in connection with purchases made by Travelzoo members.

The reported net loss attributable to Travelzoo from continuing operations was $1.1 million for Q3 2020. At the consolidated level, including minority interests, the reported net loss from continuing operations was $1.2 million. EPS from continuing operations was ($0.10), down from $0.21 in the prior-year period.

Non-GAAP operating profit was $1.2 million. The calculation of non-GAAP operating profit excludes amortization of intangibles ($0.3 million), stock option expenses ($1.2 million), and severance-related expenses ($0.9 million). See section “Non-GAAP Financial Measures” below.“A strong improvement in our business is evident compared to Q2. We are seeing irresistibly priced deals coming to the market, and Travelzoo, as the most trusted media brand publishing and recommending travel deals, is telling its members about the very best deals," said Holger Bartel, Global CEO.

For earnings history and earnings-related data on Travelzoo (TZOO) click here.

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