trivago N.V. · NASDAQ:TRVG
trivago — Q1 2026 Earnings Presentation
26 slides from trivago's earnings presentation, May 5, 2026
Slide 1: Optimizing Momentum, Pushing Frontiers
Optimizing Momentum, Pushing Frontiers Investor Presentation Q1 2026 1 5 May 2026
Slide 2: Disclaimer
Disclaimer All of the information herein has been prepared by trivago N.V. (“the Company”) solely for use in this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no re
Slide 3: trivago at a glance
trivago at a glance trivago (NASDAQ:TRVG) is a global hotel search and price comparison platform. Our Mission: When price-savvy travelers are searching for a “Hotel?”, we want the obvious High unaided brand awareness in key travel markets worldwide1 choice to be “trivago”. 7M+ 580M+ Netherlands Acco
Slide 4: Q1 2026 Highlights
Q1 2026 Highlights In Q1 2026, we delivered a strong start with 15% year-over-year Total Revenue growth and our fifth Financial consecutive quarter of double-digit growth, while improving profitability against the prior year. This Performance performance came despite tangible FX-related headwinds an
Slide 5: Q1 2026 Financials – Exceeding our topline expectations
Q1 2026 Financials – Exceeding our topline expectations. 2025 2026 % YoY Total Revenue (€m) ROAS1 (%) Adjusted EBITDA2 (€m) Net Loss (€m) 142.9 124.1 118% 121% (4.5) (6.5) (7.8) (7.3) Q1 Q1 % of Total Revenue % of Total Revenue Q1 Q1 (3.1%) 15% 3 ppts (5.1%) (5.2%) (6.3%) Q1 Q1 1 Refers to “ROAS”, o
Slide 6: Revenue growth in Q1 confirms strong momentum
Revenue growth in Q1 confirms strong momentum. Total Revenue - quarterly, €m Total Revenue dynamics year-over-year 27% 22% 17% 165.6 13% 157.9 146.1 142.9 15% 139.3 124.4 124.1 3% 118.6 120.0 111.0 101.4 91.7 94.8 (5%) (9%) (13%) (7%) (14%) (14%) Q2’24 Q3’24 Q1’24 Q2’23 Q3’23 Q4’23 Q2’25 Q3’25 Q4’25
Slide 7: We see significant growth potential
We see significant growth potential. Our business is well-diversified, with opportunities across the globe. Q1 2026 Referral Revenue Total Revenue, €m per Reportable Segment 17% 1,035 915 Double Digit 839 Growth 39% 754 535 549 493 485 461 361 44% 249 Americas 2015 2016 2017 2018 2019 2020 2021 2022
Slide 8: Unlocking value: strong fundamentals and low EV/Revenue multiple
Unlocking value: Building on strong fundamentals, profitable growth momentum and a low EV/Revenue multiple. TRVG share price Market cap: Cash and Cash $6.00 $197.7M Equivalents1: ≈ €169.0M €136.1M $5.00 Last close: Total Revenue Adj. EBITDA $4.00 $2.80 Q1 2026 (LTM): Q1 2026 (LTM): €568M (+17 %YoY)
Slide 9: Selected Focus Areas
We are laser-focused on executing our strategic priorities to drive sustainable growth and long-term profitability. Marketing Hotel Search Partnerships Capturing Demand Matching Demand and Supply Aggregating Supply Brand Search Deals Book Partnerships Guiding Lights Elevate our Offer Be a leader Fac
Slide 10: Key developments and results on our strategic priorities since 2023
Key developments and results on our strategic priorities since 2023. • Launched AI-powered global and localized brand campaigns to elevate the trivago brand worldwide TV campaigns now live in 30 Marketing markets, continuously driving Elevate our • Executed a disciplined, multi-year brand investment
Slide 11: Marketing: We substantially diversified our revenue mix
Marketing: We substantially diversified our revenue mix. The share of Referral Revenue from Google declined gradually. Share of Referral Revenue1 from Google2 Comments Index: Q1’23 = 100% • Our disciplined shift toward brand marketing has meaningfully reduced our 100% reliance on Google. The share o
Slide 12: Marketing: Jürgen Klopp campaign during major sport events
Marketing: We leverage Jürgen Klopp to maximize relevance during major sport events and accelerate our strong presence in summer. Klopp Challenger Expert Analysis Alternatives Uncomfortable truths Japan localized 12
Slide 13: Hotel Search: Testing velocity lifting conversion
Hotel Search: Our testing velocity translates into a more compelling user journey lifting conversion and strengthening our unit economics. Conversion rate (Qualified Visits-to-Book ratio) Comments Index: Q1’23 = 100% • Accelerated testing velocity, an improved marketing mix, and ongoing +58% 158% pr
Slide 14: Hotel Search: Nova Vista foundation for experimentation
Hotel Search: Nova Vista gives us a stronger foundation for more experimentation in a conversational, AI-native era. Comments • We launched Nova Vista, our refreshed desktop architecture, which increases content density, improves screen utilization, and delivers a more balanced layout across device
Slide 15: Hotel Search: AI-generated Top 10 badges per theme
Hotel Search: We have introduced AI-generated Top 10 badges per theme to surface each hotel's standout qualities across key themes. Comments • We rely on AI to improve content that has drive on product improvements and the way we show results. • By surfacing theme-based highlights, we reduce decisio
Slide 16: Hotel Search: Logged-in member base grew
Hotel Search: We grew our logged-in member base to +30% of Referral Revenue to increase retention among core users. Share of Referral Revenue1 generated by logged-in members Index: Q1’23 = 100% 311% +211% Exclusive Deals 100% Q1’23 Q1’24 Q1’25 Q1’26 Call to log-in 1 Referral Revenue before intersegm
Slide 17: Hotel Search: Personalization options
Hotel Search: We leverage personalization options to deliver more search results and filters tailored to our user's needs. Comments Search preferences • We continue to refine our ranking logic based on user behavior, and this quarter we expanded our explicit preference settings, allowing users to in
Slide 18: Partnerships: Partner mix remains healthy
Partnerships: Our partner mix remains healthy while the share of revenue from other partners has increased over time. Advertiser revenue share as % of Referral Revenue1 Comments • Over the past few years, we have made deliberate investments to rebalance our 20% 20% 20% 23% 24% 22% 24% 25% 25% 26% 26
Slide 19: Partnerships: Property Details Pages for partners
Partnerships: We qualified Property Details Pages for partners to enhance our downstream user experience and improve conversion. Search Results List Property Details Page Comments • Our Property Details Page has been rolled out globally after being qualified over the course of the past year. • It ad
Slide 20: Partnerships: Transaction-based CPA-Model exceeded expectations
Partnerships: Our transaction-based CPA-Model has exceeded expectations in terms of adoption and performance. Share of Referral Revenue1 from transaction-based CPA-Model Comments Index: Q1’23 = 100% • Our transaction-based CPA-Model has achieved broad adoption among small- 393% and mid-sized partner
Slide 21: Partnerships: Expanding trivago Book & Go
Partnerships: We focused on expanding trivago Book & Go to further improve our UX and drive conversion as well as user retention. Share of Referral Revenue1 generated through Book & Go2 Comments Index: Q1’23 = 100% • trivago Book & Go continues to scale rapidly. Since Q1 2023, Referral Revenue1 630%
Slide 22: Partnerships: Expanding trivago Book & Go
Partnerships: We focused on expanding trivago Book & Go to further improve our UX and drive conversion as well as user retention. 22 More on the topic and the acquisition of Holisto in our blog: https://company.trivago.com/2024/07/30/trivago-announces-investment/
Slide 23: Investor Relations resources and key highlights
For more detailed insights on trivago and our strategy, please visit our Investor Relations website at ir.trivago.com. Key Highlights Resources Strong double-digit revenue growth of 22% driven by strategic brand Earnings Release marketing investments and product enhancements | AI-powered Jürgen Q1
Slide 24: Appendix
Appendix
Slide 25: Adjusted EBITDA
Adjusted EBITDA in millions, EUR Three Months Ended Twelve Months Ended March 31, 2026 March 31, 2025 March 31, 2026(1) December 31, 2025 Net income/(loss) -7.3 -7.8 11.7 11.2 Loss from equity method investments -0.0 -1.3 -0.9 -2.2 Income/(loss) before equity method investments -7.3 -6.5 12.6 13.4 B
Slide 26: IR contacts: [email protected]
IR contacts: [email protected]