TRVG Q4 2025 Earnings

Call Details

• Call Title: Trivago Q4 2025 Earnings Call
• Date: February 4, 2026 at 1:15 PM UTC
• Management Team:
  • Johannes Thomas (Chief Executive Officer and Managing Director)
  • Wolf Schmuhl (Chief Financial Officer and Managing Director)
  • Andre (Chief Product Officer)
  • Jasmine (Chief Marketing Officer)

Call Summary

Financial Performance

• Total revenue for Q4 2025 was €120 million, representing 27% year-over-year growth versus Q4 2024.
• Full year 2025 total revenue grew 19% year-over-year and adjusted EBITDA for the year was €15.8 million on a non-GAAP basis.
• Quarterly adjusted EBITDA for Q4 2025 was €11.3 million on a non-GAAP basis and net income for Q4 was €14.5 million on a GAAP basis.
• Operational expenses in Q4 increased by €26 million to €113 million, driven primarily by a €19.7 million increase in selling and marketing expense.
• Advertising spend increased by €9.8 million (43%) in Americas, €4.3 million (31%) in rest of world, and €3.8 million (18%) in developed Europe.
• Global ROAS declined from 162.9% in the prior year to 147.9% in 2025, with regional ROAS decreases to 137.5% in Americas, 131.0% in rest of world, and 173.8% in developed Europe.
• As of December 31, 2025, cash and cash equivalents totaled €130.9 million and the company reported no long-term debt.

Guidance

• Guidance going forward will be provided only on total revenue at the consolidated level, and referral revenue guidance will no longer be provided.
• For full-year 2026, the company expects double-digit percentage total revenue growth versus 2025.
• For full-year 2026, the company is targeting at least €20 million of adjusted EBITDA on a non-GAAP basis.
• The company expects Q1 2026 to deliver a fifth consecutive quarter of double-digit total revenue growth and higher profitability versus previous years.
• The company reiterated an intention to continue increasing brand marketing spend in 2026 but at a substantially lower incremental pace than prior years.
• Management expects to keep headcount stable and leverage AI to maintain productivity while scaling brand investments.