Tripadvisor (TRIP) Q1 2026 Earnings Transcript

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Date

Thursday, May 7, 2026 astatine 8:30 a.m. ET

Call participants

• Chief Executive Officer — Matthew Goldberg

• Chief Financial Officer — Mike Noonan

Full Conference Call Transcript

Matthew Goldberg: Thank you, Angela, and bully morning, everyone. We're pleased with our Q1 performance, with radical gross successful enactment with expectations and adjusted EBITDA up of expectations. We delivered this effect contempt the challenging macro backdrop that intensified precocious successful the quarter, which Mike volition instrumentality america done successful item shortly. . As a reminder, past year, we made an important strategical shift. We reoriented Tripadvisor radical astir our nonsubjective to physique the world's largest experiences marketplace. The experiences class represents the largest maturation accidental successful travel. It's highly fragmented, inactive aboriginal to travel online and supported by durable tailwinds for growth.

It's a marketplace wherever standard matters, and our standard vantage is reinforced by our high-intent travelers, trusted brands, industry-leading proviso and long-established class authority. Along with our displacement to experiences, we besides acceptable retired to unlock the powerfulness of our data. So Tripadvisor remains astatine the halfway of question discovery, readying and booking arsenic the travel evolves with AI and to simplify our portfolio of bequest offerings to optimize for profitability arsenic we prioritize different maturation opportunities. Today, I'll locomotion done the advancement we're making crossed our strategy, opening with experiences.

Through the archetypal 2 months of the quarter, our Experiences conception delivered peculiarly encouraging momentum with GBV maturation accelerating from 16% successful the anterior 4th to 19% successful January and February. Viator, our largest constituent of merchantability was adjacent stronger with bookings and GBV increasing much than 20% successful January and February. In precocious February, that momentum was interrupted by geopolitical events successful the Middle East on with acute disruption successful 2 cardinal leisure markets, Mexico and Hawaii. Together, these factors drove a crisp diminution successful booking volumes and a spike successful cancellations, which has since improved.

Despite we saw experiences successful January and February reflects some steadfast underlying request successful the class arsenic good arsenic aboriginal grounds of the strategical changes we enactment successful spot past year. We're seeing that advancement look crossed the afloat experiences marketplace, tighter coordination crossed demand, our storefront and proviso is strengthening the flywheel and driving tangible results. On the request side, we've unified the Viator and Tripadvisor selling teams to thrust alignment and semipermanent efficiencies crossed some headcount and spouse spend. We're becoming much businesslike and precise successful however we allocate our selling concern crossed channels. We're operating our 2 brands unneurotic successful our paid hunt portfolio and improving walk ratio without compromising wide performance.