Travelzoo Files 10-Q for Q1 2024

AI Summary

TRAVELZOO (TZOO) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Travelzoo reported financial results for the first quarter ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Comparative data for the first quarter of 2023 (January 1, 2023, to March 31, 2023) is also included. Balance sheet information as of March 31, 2024, December 31, 2023, and March 31, 2023, is presented. The company is incorporated in Delaware and operates in the Services-Advertising sector.

Why It Matters

For investors and stakeholders tracking TRAVELZOO, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and position of Travelzoo, crucial for assessing the company's health and trajectory. The inclusion of comparative periods allows for year-over-year analysis, helping stakeholders understand trends in revenue, profitability, and financial stability.

Risk Assessment

Risk Level: low — TRAVELZOO shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant negative news or events, indicating a low level of immediate risk from this specific filing.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand Travelzoo's operational performance and any emerging trends.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-15 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (First quarter of 2024)
• 2023-03-31 — Prior Year Quarter End (Comparative period)

Key Players & Entities

• TRAVELZOO (company) — Filer name
• 20240331 (date) — Conformed period of report
• 20240515 (date) — Filed as of date
• 0001133311 (company) — Central Index Key
• 7310 (industry) — Standard Industrial Classification
• DE (state) — State of incorporation
• 2124844900 (phone) — Business phone
• TZOO (ticker) — Ticker symbol

FAQ

Industry Context

Travelzoo operates within the online travel and advertising sector, providing deal-of-the-day vacation packages and travel services.

Regulatory Implications

This filing is made under the Securities Exchange Act of 1934, requiring public companies to submit quarterly reports (10-Q) to the SEC.

What Investors Should Do

1. Analyze the revenue and net income figures for Q1 2024 and compare them to Q1 2023.
2. Examine the balance sheet for changes in assets, liabilities, and equity from the previous quarter and year.
3. Review any disclosures related to segment performance or significant business developments.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q
• 2024-05-15: Filing Date — Date the 10-Q was officially filed with the SEC

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing updated financial information compared to the previous year's filings.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value TZOO The NASDAQ Stock Market

Filing Documents

• tzoo-20240331.htm (10-Q) — 1013KB
• tzoo-exx31103x31x2024.htm (EX-31.1) — 8KB
• tzoo-exx31203x31x2024.htm (EX-31.2) — 8KB
• tzoo-exx32103x31x2024.htm (EX-32.1) — 4KB
• tzoo-exx32203x31x2024.htm (EX-32.2) — 4KB
• 0001133311-24-000021.txt ( ) — 6062KB
• tzoo-20240331.xsd (EX-101.SCH) — 43KB
• tzoo-20240331_cal.xml (EX-101.CAL) — 69KB
• tzoo-20240331_def.xml (EX-101.DEF) — 202KB
• tzoo-20240331_lab.xml (EX-101.LAB) — 559KB
• tzoo-20240331_pre.xml (EX-101.PRE) — 397KB
• tzoo-20240331_htm.xml (XML) — 798KB

—FINANCIAL INFORMATION Page

PART I—FINANCIAL INFORMATION Page

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 7 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 37

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 38

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 38

Other Information

Item 5. Other Information 38

Exhibits

Item 6. Exhibits 39 Signature 40 2

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 TRAVELZOO CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except par value) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 16,190 $ 15,713 Accounts receivable, less allowance for doubtful accounts of $ 1,490 and $ 1,484 as of March 31, 2024 and December 31, 2023, respectively 13,151 12,965 Prepaid income taxes 566 629 Prepaid expenses and other 1,681 1,460 Assets from discontinued operations — 1 Total current assets 31,588 30,768 Deposits and other 225 1,115 Deferred tax assets 3,107 3,196 Restricted cash 675 675 Operating lease right-of-use assets 5,892 6,015 Property and equipment, net 532 578 Intangible assets, net 1,773 2,091 Goodwill 10,944 10,944 Total assets $ 54,736 $ 55,382 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,514 $ 4,546 Merchant payables 17,827 20,622 Accrued expenses and other 3,634 3,658 Deferred revenue 3,247 2,044 Income tax payable 805 766 Operating lease liabilities 2,463 2,530 Liabilities from discontinued operations 24 24 Total current liabilities 33,514 34,190 Long-term tax liabilities 5,596 4,681 Long-term operating lease liabilities 6,458 6,717 Other long-term liabilities 376 911 Total liabilities 45,944 46,499 Commitments and contingencies — — Stockholders' equity: Common stock, $ 0.01 par value ( 20,000 shares authorized; 13,202 shares issued and outstanding as of March 31, 2024, 13,575 shares issued and outstanding as of December 31, 2023) 132 136 Additional paid in capital — 439 Tax indemnification ( 9,537 ) ( 9,537 ) Note receivable from shareholder ( 1,753 ) ( 1,753 ) Retained earnings 20,125 19,508 Accumulated other comprehensive loss ( 4,861 ) ( 4,607 ) Total Travelzoo stockholders' equity 4,106 4,186 Non-controlling interest 4,686 4,697 Total stockholders' equity 8,792 8,883 Total liabilities and stockholders' equity $ 54,736 $ 55,382 See accompanying notes

Financial Statements

Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to state fairly the financial position of the Company and its results of operations and cash flows. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and related notes as of and for the year ended December 31, 2023, included in the Company's Form 10-K filed with the SEC on March 22, 2024. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The financial results of Jack's Flight Club have been included in our condensed consolidated financial statements from the date of acquisition. Investments in entities where the Company does not have control, but does have significant influence, are accounted for as equity method investments. We have reclassified prior period financial statements to conform to the current period presentation. 9 Management of the Company has made a number of estimates and assumptions relating to the reporting of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities to prepare these financial statements in conformity with accounting principles generally accepted in the U.S. Signi

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