Call End: 10:27

Despegar.com, Corp (NYSE:DESP)

Q1 2022 Earnings Conference Call

May 19, 2022 10:00 AM ET

Company Participants

Natalia Nirenberg - Investor Relations

Damian Scokin - Chief Executive Officer

Alberto Lopez-Gaffney - Chief Financial Officer

Conference Call Participants

Alejandra Aranda - ITAU

Karen Kenny - Morgan Stanley

Emily Lavin - Cowen and Co.

Operator

Good morning, and welcome to Despegar's First Quarter 2022 Earnings Call. A slide presentation is accompanying today's webcast and is available in the Investors section of the company's website, www.investor.despegar.com. There will be an opportunity for you to ask questions at the end of today's presentation. This conference call is being recorded. As a reminder, all participants will be in listen-only mode.

Now I'd like to turn the call over to Ms. Natalia Nirenberg, Investor Relations. Please go ahead.

Natalia Nirenberg

Good morning, everyone, and thanks for joining us today. In addition to reporting financial results in accordance with US generally accepted accounting principles, we discuss certain non-GAAP financial measures and operating metrics, including foreign exchange neutral calculation. Investors should read the definition of these measures and metrics included in our press release carefully to ensure that they understand them. Non-GAAP financial measures and operating metrics should not be considered in isolation or substitute for or superior to GAAP financial measures and are provided as supplemental information only.

Before we begin our prepared remarks, allow me to remind you that certain statements made during the course of the discussion may constitute forward-looking statements, which are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to materially differ, including factors that may be beyond the company's control. This includes, but are not limited to, expectations and assumptions related to the impact of the COVID-19 pandemic and the integration and performance of the businesses we acquire, including Best Day and Koin. For a description of these risks, please refer to our filings with the US Securities and Exchange Commission and our press release.

Speaking on today's call is our CEO, Damian Scokin, who will provide an overview of the fourth quarter and update you on our strategic priorities. Alberto Lopez-Gaffney, our CFO, will then discuss the quarter's financial results in more detail. After that, we'll open the call for your questions.

Damian, please go ahead.

Damian Scokin

Thanks, Natalia, and good day, everyone. Thank you for joining our earnings call and for your interest in Despegar. Our most recent result shows that we continue to execute well against our strategy, sustaining profitable growth. They also reflect how well positioned Despegar is in a recovering travel market. Omicron impacted demand levels once again, but this was limited to January and February, with March gross bookings increasing 40% versus January's level. April was equally strong as we will show later in our presentation.