Travelzoo (NASDAQ:TZOO) Q4 2023 Results Conference Call February 28, 2024 11:00 AM ET

Company Participants

Holger Bartel - Global Chief Executive Officer

Christina Ciocca - Chair, General Counsel, Head of Global Functions

Lijun Qi - Finance Director and Principal Accounting Officer

Conference Call Participants

Michael Kupinski - NOBLE Capital

Jim Goss - Barrington Research

Steve Silver - Argus Research

Ed Woo - Ascendiant

Operator

Hello, everyone. Welcome to the Travelzoo Fourth Quarter 2023 Financial Results Conference Call. [Operator Instructions] Today's call is being recorded.

The company would like to remind you that all statements made during this conference call and presented in the slides that are not statements of historical facts constitute forward-looking statements and are made pursuant to the safe harbor provisions 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 Forms 10-K and 10-Q and other SEC filings. Unless required by the 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 today. An archived recording of this conference call will be made available on the company's Investor Relations website at travelzoo.com/ir.

Now it is my pleasure to turn the floor over to Travelzoo's Global CEO, Holger Bartel; its Chair, General Counsel, Head of Global Functions, CEO of Jack's Flight Club, Christina Ciocca; and its Finance Director, Lijun Qi. Lijun will start us with an overview.

Lijun Qi

Thank you, operator, and welcome to those of you joining us today. Please refer to 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 #4. Travelzoo's revenue, operating profit and member count all increased year-over-year. Our consolidated Q4 revenue was $21.1 million, up 14% from $18.6 million in the prior year period. In constant currency, revenue was $20.8 million, an increase of 12% year-over-year. Operating income which weighed as management called operating profit increased 25% year-over-year. Q4 operating profit was $4.5 million or 21% of revenue, up from $3.6 million in the prior year. As of December 31, 2023, we had 31.1 million unduplicated members compared to 30.4 million as of December 31, 2022.