Travelzoo Files Q3 2024 10-Q Report

TL;DR

Travelzoo dropped its Q3 2024 10-Q. Check financials.

AI Summary

Travelzoo reported its Q3 2024 results for the period ending September 30, 2024. The company's financial performance for the third quarter and the first nine months of the year is detailed in this 10-Q filing. Specific revenue, net income, and other financial metrics for these periods are available within the document.

Why It Matters

This filing provides investors with the latest financial performance data for Travelzoo, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Players & Entities

• TRAVELZOO (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241108 (date) — Filing date of the report

FAQ

Key Financial Figures

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

Filing Documents

• tzoo-20240930.htm (10-Q) — 1400KB
• travelzoo-stockrepurchasea.htm (EX-10.3) — 44KB
• tzoo-exx31109x30x2024.htm (EX-31.1) — 8KB
• tzoo-exx31209x30x2024.htm (EX-31.2) — 8KB
• tzoo-exx32109x30x2024.htm (EX-32.1) — 4KB
• tzoo-exx32209x30x2024.htm (EX-32.2) — 4KB
• 0001133311-24-000037.txt ( ) — 7271KB
• tzoo-20240930.xsd (EX-101.SCH) — 44KB
• tzoo-20240930_cal.xml (EX-101.CAL) — 69KB
• tzoo-20240930_def.xml (EX-101.DEF) — 209KB
• tzoo-20240930_lab.xml (EX-101.LAB) — 594KB
• tzoo-20240930_pre.xml (EX-101.PRE) — 411KB
• tzoo-20240930_htm.xml (XML) — 1086KB

—FINANCIAL INFORMATION Page

PART I—FINANCIAL INFORMATION Page

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three and Nine Months Ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Stockholders' Equity for the Nine Months Ended September 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 40

Controls and Procedures

Item 4. Controls and Procedures 40

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 42

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 42 Signature 43 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 11,429 $ 15,713 Accounts receivable, less allowance for doubtful accounts of $ 1,719 and $ 1,484 as of September 30, 2024 and December 31, 2023, respectively 13,167 12,965 Prepaid income taxes 1,132 629 Prepaid expenses and other 1,619 1,461 Total current assets 27,347 30,768 Deposits and other 230 1,115 Deferred tax assets 3,193 3,196 Restricted cash 675 675 Operating lease right-of-use assets 6,080 6,015 Property and equipment, net 470 578 Intangible assets, net 1,591 2,091 Goodwill 10,944 10,944 Total assets $ 50,530 $ 55,382 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,984 $ 4,546 Merchant payables 17,321 20,622 Accrued expenses and other 4,124 3,658 Deferred revenue 3,854 2,044 Income tax payable 1,450 766 Operating lease liabilities 2,624 2,530 Liabilities from discontinued operations 24 24 Total current liabilities 34,381 34,190 Long-term tax liabilities 7,028 4,681 Long-term operating lease liabilities 6,225 6,717 Other long-term liabilities 376 911 Total liabilities 48,010 46,499 Commitments and contingencies — — Stockholders' equity: Common stock, $ 0.01 par value ( 20,000 shares authorize d; 11,880 shares issued and outstanding as of September 30, 2024, 13,575 shares issued and outstanding as of December 31, 2023) 119 136 Additional paid in capital — 439 Tax indemnification ( 9,537 ) ( 9,537 ) Note receivable and account receivable from shareholder ( 1,929 ) ( 1,753 ) Retained earnings 14,195 19,508 Accumulated other comprehensive loss ( 5,079 ) ( 4,607 ) Total Travelzoo stockholders' equity (deficit) ( 2,231 ) 4,186 Non-controlling interest 4,751 4,697 Total stockholders' equity 2,520 8,883 Total liabilities and stockholders' equity $ 50,530 $ 55,382 See accom

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

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View this 10-Q filing on SEC EDGAR