Travelzoo Files Q2 2024 10-Q Report
Ticker: TZOO · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 1133311
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
Related Tickers: TZOO
TL;DR
Travelzoo's Q2 2024 10-Q is in. Check financials.
AI Summary
Travelzoo reported its Q2 2024 results for the period ending June 30, 2024. The company's filing details its financial performance and operational segments. Specific financial figures and operational segment details are available within the full report.
Why It Matters
This 10-Q filing provides investors with an update on Travelzoo's financial health and operational performance for the second quarter of 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating immediate or significant new risks.
Key Players & Entities
- TRAVELZOO (company) — Filer
- 20240630 (date) — Period of Report
- 20240809 (date) — Filed as of Date
- 000-50171 (dollar_amount) — SEC File Number
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the second quarter of 2024.
When was this 10-Q filing submitted?
The filing was submitted on 20240809.
What is Travelzoo's SEC File Number?
Travelzoo's SEC File Number is 000-50171.
What is Travelzoo's fiscal year end?
Travelzoo's fiscal year ends on December 31.
What is the SIC code for Travelzoo?
The Standard Industrial Classification code for Travelzoo is 7310, Services-Advertising.
Filing Stats: 4,706 words · 19 min read · ~16 pages · Grade level 17.5 · Accepted 2024-08-09 14:30:42
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value TZOO The NASDAQ Stock Market
Filing Documents
- tzoo-20240630.htm (10-Q) — 1366KB
- travelzoo-stockrepurchasea.htm (EX-10.2) — 46KB
- tzoo-exx31106x30x2024.htm (EX-31.1) — 8KB
- tzoo-exx31206x30x2024.htm (EX-31.2) — 8KB
- tzoo-exx32106x30x2024.htm (EX-32.1) — 4KB
- tzoo-exx32206x30x2024.htm (EX-32.2) — 4KB
- 0001133311-24-000032.txt ( ) — 7145KB
- tzoo-20240630.xsd (EX-101.SCH) — 43KB
- tzoo-20240630_cal.xml (EX-101.CAL) — 69KB
- tzoo-20240630_def.xml (EX-101.DEF) — 207KB
- tzoo-20240630_lab.xml (EX-101.LAB) — 583KB
- tzoo-20240630_pre.xml (EX-101.PRE) — 407KB
- tzoo-20240630_htm.xml (XML) — 1065KB
—FINANCIAL INFORMATION Page
PART I—FINANCIAL INFORMATION Page
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three and Six Months Ended June 30, 2024 and 2023 7 Condensed Consolidated Statements of Stockholders' Equity for the Six Months Ended June 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 10
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 26
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 39
Controls and Procedures
Item 4. Controls and Procedures 39
—OTHER INFORMATION
PART II—OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 40
Risk Factors
Item 1A. Risk Factors 40
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 40
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 40
Other Information
Item 5. Other Information 41
Exhibits
Item 6. Exhibits 41 Signature 42 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) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 12,567 $ 15,713 Accounts receivable, less allowance for doubtful accounts of $ 1,554 and $ 1,484 as of June 30, 2024 and December 31, 2023, respectively 13,220 12,965 Prepaid income taxes 998 629 Prepaid expenses and other 1,726 1,461 Total current assets 28,511 30,768 Deposits and other 223 1,115 Deferred tax assets 3,102 3,196 Restricted cash 675 675 Operating lease right-of-use assets 5,873 6,015 Property and equipment, net 499 578 Intangible assets, net 1,686 2,091 Goodwill 10,944 10,944 Total assets $ 51,513 $ 55,382 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,212 $ 4,546 Merchant payables 16,708 20,622 Accrued expenses and other 4,217 3,658 Deferred revenue 3,207 2,044 Income tax payable 1,070 766 Operating lease liabilities 2,389 2,530 Liabilities from discontinued operations 24 24 Total current liabilities 32,827 34,190 Long-term tax liabilities 6,323 4,681 Long-term operating lease liabilities 6,342 6,717 Other long-term liabilities 376 911 Total liabilities 45,868 46,499 Commitments and contingencies — — Stockholders' equity: Common stock, $ 0.01 par value ( 20,000 shares authorized; 12,402 shares issued and outstanding as of June 30, 2024, 13,575 shares issued and outstanding as of December 31, 2023) 124 136 Additional paid in capital — 439 Tax indemnification ( 9,537 ) ( 9,537 ) Note receivable from shareholder ( 1,753 ) ( 1,753 ) Retained earnings 17,083 19,508 Accumulated other comprehensive loss ( 4,951 ) ( 4,607 ) Total Travelzoo stockholders' equity 966 4,186 Non-controlling interest 4,679 4,697 Total stockholders' equity 5,645 8,883 Total liabilities and stockholders' equity $ 51,513 $ 55,382 See accompanying notes to unaudited condensed consolidated financi
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. 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. 10 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. Significant estimates included in the consolidated financial statements and related notes include revenue recognition, refund liability, income taxe