TRVG · trivago N.V.

trivago N.V. delivered a strong first quarter in 2026, marking its fifth consecutive quarter of double-digit revenue growth. Total revenue rose 15% year-over-year to €142.9 million, primarily fueled by robust performance in the Americas and Developed Europe segments, which saw Referral Revenue growth of 17% and 14%, respectively. This growth was driven by higher branded channel traffic and improved booking conversion, up 58% since Q1 2023. Conversely, the Rest of World segment faced headwinds from foreign exchange fluctuations and geopolitical tensions affecting travel behavior, resulting in a 12% decline in Referral Revenue for that segment. Profitability metrics showed year-over-year improvement, with Net Loss narrowing to €(7.3) million and Adjusted EBITDA loss improving by €2.0 million to €(4.5) million. The improvement was attributed to higher revenues and a 2.9 percentage point increase in Global ROAS to 121%, reflecting the compounding benefits of prior brand marketing investments. Management raised full-year 2026 Adjusted EBITDA guidance to approximately €25 million, up from the previous expectation of at least €20 million, while reaffirming the outlook for double-digit total revenue growth. Demonstrating confidence in the company's financial position and long-term value creation, the Supervisory Board authorized a share buyback program of up to €20 million, supported by a solid cash position of €136.1 million and zero long-term debt.