Travelzoo (NASDAQ:TZOO) Q1 2022 Results Conference Call April 26, 2022 11:00 AM ET

Company Participants

Holger Bartel - Global CEO

Lisa Su - Chief Accounting Officer

Arveena Ahluwalia - Global Director Premium Membership

Conference Call Participants

Jim Goss - Barrington Research

Michael Kupinski - Noble Capital Markets

Ed Woo - Ascendiant Capital

Steve Silver - Argus Research

Operator

Hello, everyone, and welcome to the Travelzoo First Quarter 2022 Financial Results Conference Call. At this time, all participants have been placed in a listen-only mode and the floor will be open for questions following the presentation. Today’s call is being recorded.

The Company would like to remind you that all statements made during this conference call, are presented in the slides that are not statements of historical facts, constitute forward-looking statements and are made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995.

Actual results could vary materially from those contained in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements are described in the Company’s Form 10-K and 10-Q and other periodic filings with the SEC. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Please refer to the Company’s website for important information, including the Company’s earnings press release issued earlier this morning. An archived recording of this conference call will be made available on the Travelzoo Investor Relations website at travelzoo.com/ir.

Now, it’s my pleasure to turn the floor over to Travelzoo’s Global CEO, Holger Bartel; its

Chief Accounting Officer, Lisa Su; and its Global Director Premium Membership, Arveena Ahluwalia. Lisa will start with an overview of the first quarter 2022 financial results.

Lisa Su

Thank you, operator, and welcome to those of you joining us today.

Please open the management presentation to follow along with our prepared remarks. The presentation in PDF format is available on our Investor Relations website at travelzoo.com/ir.

Let’s begin with slide number 3. Revenues continue to recover from the pandemic and earnings turned positive again. You can see that our Q1 revenue was $18.5 million, up 30% from $14.3 million year-over-year. Our net income in Q1 was $3.4 million, which resulted in earnings per share of $0.19. Compared to the previous quarter, the number of members in Q1 increased by 0.5 million to a total of 30.7 million, mainly due to the acquisition of a competitor’s European subscriber base who decided to leave the market during the pandemic.