Travelzoo (TZOO) stock plummeted 0.42% in the pre-market trading session at the price of $7.15 after reporting its financial results for the first quarter of 2022.
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TZOO Q1 2022 Earnings Report
On 26th April 2022, TZOO reported its consolidated financial results for the quarter that ended 31st March 2022. The company has also delivered its corporate updates. TZOO had cash and cash equivalents of US$36.7M on 31st March 2022. Net cash utilized in operational activities totaled US$6.8M. The company used roughly US$1.0M in cash to obtain intangible assets during the first quarter of 2022.
Revenues from North American business grew 19 percent year-over-year to US$11.7M for Q1 of 2022. Operating profit was US$1.7M for Q1 of 2022, compared to a profit of US$39K for Q1 of last year. Revenue from European business also grew 66 percent year-over-year to US$5.9M during the quarter. Operating profit was US$178K for Q1 of 2022, compared to a loss of US$696K in the same quarter of 2021.
TZOO calculated consolidated revenue of US$18.5M for Q1 of 2022. It represents a surge of 29 percent from US$14.3M for the same quarter of 2021. The net income from operations totaled US$2.4M for Q1 of 2022. Earnings per share from operations were US$0.19 for Q1 of 2022, compared to (US$0.14) for Q1 of the prior year.
TZOO Business Outlook
For Q2 of 2022, TZOO expects higher profitability and revenue growth. However, there can be unforeseen short-term revenue fluctuations in the quarter. During the Covid-19 pandemic, the stock has reduced its fixed expenses. Meanwhile, the company remained focused on keeping relatively low costs to have better revenue growth in upcoming quarters.
TZOO witnessed continued progress in its business segments during Q1 of 2022. The company grabbed the excellent industry prospects by delivering its 30M members exclusive travel and recreational experiences. Travelzoo members are open to unique experiences. 84 percent of them believe Travelzoo to be the best because of good past experience.