TripAdvisor, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>TripAdvisor, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

TripAdvisor, Inc. (TRIP) filed a Annual Report (10-K) with the SEC on February 16, 2024. TripAdvisor, Inc. filed its 2023 Form 10-K on February 16, 2024. The filing covers the fiscal year ending December 31, 2023. The company is incorporated in Delaware and headquartered in Needham, MA. Key segments mentioned include Viator, Experiences and Dining, and The Fork. Financial instruments like foreign exchange contracts and treasury securities are noted.

Why It Matters

For investors and stakeholders tracking TripAdvisor, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of TripAdvisor's financial performance, business operations, and risk factors for the 2023 fiscal year. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: medium — TripAdvisor, Inc. shows moderate risk based on this filing. The filing mentions customer concentration risk with major players like Expedia and Booking, indicating a reliance on a few key partners which could impact revenue if relationships change.

Analyst Insight

Monitor TripAdvisor's relationships with major online travel agencies like Expedia and Booking, as disclosed in the 10-K, for potential impacts on revenue and market share.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-16 — Filing Date (As of date)
• 126 — Public Document Count (Number of documents in the filing)
• 781-800-5800 — Business Phone (Contact number)

Key Players & Entities

• TripAdvisor, Inc. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-02-16 (date) — Filing date
• Needham, MA (location) — Business address city and state
• Expedia (company) — Customer concentration risk mention
• Booking (company) — Customer concentration risk mention
• Viator (company) — Operating segment mention
• The Fork (company) — Segment mention

FAQ

Risk Factors

• Customer Concentration Risk [medium — market]: The company faces risk due to concentration of sales revenue with major customers such as Expedia and Booking, potentially impacting financial results if these relationships are adversely affected.

Key Dates

• 2023-12-31: Fiscal Year End — Covers the full fiscal year's financial data.
• 2024-02-16: Filing Date — Official date of submission to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, containing detailed financial and operational information for the fiscal year.)

Customer Concentration Risk

The risk that a company's revenue is heavily dependent on a small number of customers. (Identified as a specific risk factor for TripAdvisor, highlighting potential vulnerability in its revenue streams.)

Key Financial Figures

• $0.001 — res at February 9, 2024 Common Stock, $0.001 par value per share 125,099,694 share
• $1.6 — n rentals, and dining, at approximately $1.6 trillion in 2020 prior to the onset of
• $1.7 — ravel spending will reach approximately $1.7 trillion by 2026, with an expected incr
• $280 billion — hat is estimated to reach approximately $280 billion by 2025 according to Arival's October 2
• $250 billion — urants industry may reach approximately $250 billion by 2025. In addition, based on this sam

Filing Documents

• trip-20231231.htm (10-K) — 4456KB
• trip-ex10_2.htm (EX-10.2) — 66KB
• trip-ex10_21.htm (EX-10.21) — 180KB
• trip-ex21_1.htm (EX-21.1) — 75KB
• trip-ex23_1.htm (EX-23.1) — 4KB
• trip-ex31_1.htm (EX-31.1) — 14KB
• trip-ex31_2.htm (EX-31.2) — 14KB
• trip-ex32_1.htm (EX-32.1) — 8KB
• trip-ex32_2.htm (EX-32.2) — 8KB
• trip-ex97_1.htm (EX-97.1) — 48KB
• img265211494_0.jpg (GRAPHIC) — 235KB
• 0000950170-24-016553.txt (&nbsp;) — 20743KB
• trip-20231231.xsd (EX-101.SCH) — 2508KB
• trip-20231231_htm.xml (XML) — 4371KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 27 Item 1C. Cybersecurity 28 Item 2.

Properties

Properties 29 Item 3.

Legal Proceedings

Legal Proceedings 29 Item 4. Mine Safety Disclosures 30 PART II 31 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 31 Item 6. [Reserved] 33 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 55 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 111 Item 9A.

Controls and Procedures

Controls and Procedures 111 Item 9B. Other Information 113 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 113 PART III 113 Item 10. Directors, Executive Officers and Corporate Governance 113 Item 11.

Executive Compensation

Executive Compensation 113 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 114 Item 13. Certain Relationships and Related Transactions, and Director Independence 114 Item 14. Principal Accounting Fees and Services 114 PART IV 115 Item 15. Exhibit and Financial Statement Schedules 115 Item 16. Form 10-K Summary 117

SIGNATURES

SIGNATURES 118 ii We refer to Tripadvisor, Inc. and our wholly-owned subsidiaries as "Tripadvisor," "Tripadvisor group," "the Company," "us," "we" and "our" in this Annual Report on Form 10-K. The Company renamed our Tripadvisor Core segment to "Brand Tripadvisor", and its "Tripadvisor-branded display and platform" revenue stream within the Brand Tripadvisor segment, as "Media and advertising" revenue. These nomenclature changes had no impact on the composition of our segments, revenue streams, or on any current or historic financial information. Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The statements contained in this Annual Report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. The following words, when used, are intended to identify forward-looking statements: "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "project," "target," "result," "should," "will," and similar expressions which do not relate solely to historical matters. We caution investors that any forward-looking statements in this report, or which management may make orally or in writing from time to time, are based on management's beliefs and on assumptions made by, and information currently available to, management. Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our control. Risks and

Business

Item 1. Business Overview The Tripadvisor group operates as a family of brands with the purpose of connecting people to experiences worth sharing. Our vision is to be the world's most trusted source for travel and experiences. The Company operates across three business segments: Brand Tripadvisor (formerly Tripadvisor Core), Viator, and TheFork. We leverage our brands, technology platforms, and capabilities to connect our large, global audience with partners by offering rich content, travel guidance products and services, and two-sided marketplaces for experiences, accommodations, restaurants, and other travel categories. Brand Tripadvisor's purpose is to empower everyone to be a better traveler by serving as the world's most trusted and essential travel guidance platform. Since Tripadvisor's founding in 2000, the Tripadvisor brand has developed a relationship of trust and community with travelers and experience seekers by providing an online global platform for travelers to discover, generate, and share authentic user-generated content ("UGC") in the form of ratings and reviews for destinations, points-of-interest ("POIs"), experiences, accommodations, restaurants, and cruises in over 40 countries and in more than 20 languages across the world. Tripadvisor offers more than 1 billion user-generated ratings and reviews on over 8 million experiences, accommodations, restaurants, airlines, and cruises. Tripadvisor's online platform attracts one of the world's largest travel audiences, with hundreds of millions of visitors annually. Viator's purpose is to bring extraordinary, unexpected, and forever memorable experiences to more people, more often, wherever they are traveling. In doing so, Viator elevates tens of thousands of businesses, large and small. Viator delivers on its purpose by enabling travelers to discover and book iconic, unique and memorable experiences from experience operators around the globe. Our online marketplace is comprehensive and easy-to-

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View this 10-K filing on SEC EDGAR