Travelzoo Stock Research

Market Summary

USD9.38-0.29

Market Closed

-3.00%

TZOO Alerts

2 major insider sales recently.

TZOO Stock Price

TZOO RSI Chart

TZOO Valuation

Market Cap

147.3M

Price/Earnings (Trailing)

22.2

Price/Sales (Trailing)

2.09

EV/EBITDA

10.59

Price/Free Cashflow

-6.25

TZOO Price/Sales (Trailing)

TZOO Profitability

EBT Margin

4.28%

Return on Equity

145.78%

Return on Assets

1.31%

Free Cashflow Yield

-16%

TZOO Fundamentals

TZOO Revenue

Revenue (TTM)

70.6M

Revenue Y/Y

36.21%

Revenue Q/Q

17.41%

TZOO Earnings

Earnings (TTM)

6.6M

Earnings Y/Y

174.67%

Earnings Q/Q

208.43%

Price Action

52 Week Range

4.109.75

(Low)(High)

Last 7 days

6.4%

Last 30 days

20.4%

Last 90 days

81.1%

Trailing 12 Months

34.4%

TZOO Financial Health

Current Ratio

0.67

TZOO Investor Care

Shares Dilution (1Y)

30.26%

Diluted EPS (TTM)

0.53

Peers (Alternatives to Travelzoo)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
GOOG	1.6T	284.6B	18.01%	6.36%	27.19	5.6	5.28%	-21.40%
TWTR	41.4B	-	27.58%	-2.03%	-370.37	7.92	-	-
SNAP	17.1B	4.5B	29.00%	-30.13%	-12.25	3.78	2.67%	-149.46%
PINS	16.0B	2.8B	12.24%	17.12%	-53.4	5.65	6.09%	-189.94%
MID-CAP
TRIP	2.1B	1.6B	-5.03%	-35.38%	-110.47	1.31	53.79%	81.37%
SMALL-CAP
YELP	2.4B	1.2B	23.65%	10.84%	65.56	2	15.67%	-8.38%
CARG	2.0B	1.5B	22.95%	-26.28%	24.26	1.24	20.30%	-24.52%
CARS	1.3B	662.7M	-3.51%	77.08%	51.35	1.89	5.43%	147.08%
TTGT	1.0B	286.4M	7.23%	-51.23%	28.27	3.56	2.80%	472.58%
EB	756.1M	283.0M	16.95%	-40.19%	-15.16	2.67	31.50%	31.07%
CDLX	220.1M	294.9M	-29.94%	-80.31%	-0.47	0.74	4.66%	-586.22%
TRUE	214.6M	155.0M	-5.86%	-29.12%	-1.71	1.39	-26.25%	-197.31%
TZOO	147.3M	70.6M	20.41%	34.38%	22.2	2.09	12.58%	628.21%
ZDGE	31.1M	27.5M	13.33%	-59.00%	4.6	1.13	17.28%	-27.23%

Financials for Travelzoo

* denotes actual numbers (not divided by Thousands)
Income Statement (Last 12 Months)					(In Thousands)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	7.5%	70,599	65,652	65,491	66,881	62,712
Gross Profit	9.2%	60,596	55,477	54,648	55,679	51,324
Operating Expenses	-4.0%	53,039	55,265	54,970	54,306	52,637
S&GA Expenses	-2.8%	33,072	34,028	33,225	32,085	30,294
R&D Expenses	7.0%	2,064	1,929	2,129	2,360	2,590
EBITDA	-27.9%	4,874	6,762	8,882	4,517	-
EBITDA Margin	-28.1%	0.07*	0.10*	0.13*	0.07*	-
Earnings Before Taxes	254.4%	9,958	2,810	4,784	6,968	2,693
EBT Margin	-41.4%	0.04*	0.07*	0.10*	0.04*	-
Interest Expenses	-100.0%	0.00	4.00	-	-	-
Net Income	638.8%	6,634	898	2,926	4,912	911
Net Income Margin	-69.4%	0.01*	0.04*	0.07*	0.01*	-
Free Cahsflow	18.4%	-38,456	-47,153	-24,039	-8,129	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-1.5%	67.00	68.00	78.00	93.00	100
Current Assets	0.2%	36.00	36.00	45.00	58.00	65.00
Cash Equivalents	-4.1%	19.00	19.00	26.00	36.00	44.00
Net PPE	30.1%	1.00	1.00	1.00	1.00	1.00
Goodwill	0%	11.00	11.00	11.00	11.00	11.00
Liabilities	-7.4%	58.00	63.00	72.00	90.00	99.00
Current Liabilities	-10.1%	48.00	53.00	62.00	79.00	88.00
Shareholder's Equity	590.9%	4.00	1.00	1.00	-4.23	-
Retained Earnings	52.3%	7.00	5.00	4.00	3.00	1.00
Additional Paid-In Capital	198.5%	23.00	8.00	7.00	5.00	4.00
Accumulated Depreciation	-	18.00	-	-	-	-
Shares Outstanding	25.7%	16.00	12.00	13.00	13.00	12.00
Minority Interest	-0.9%	5.00	5.00	5.00	5.00	5.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	39.6%	-23.10	-38.22	-47.03	-23.91	-8.08
Share Based Compensation	-25.3%	2.00	2.00	3.00	3.00	4.00
Cashflow From Investing	-36.8%	-1.31	-0.96	-0.84	-0.83	0.00
Cashflow From Financing	139.1%	1.00	-3.28	-4.51	-9.57	-11.16
Buy Backs	-67.6%	2.00	5.00	4.00	4.00	5.00

Risks for TZOO

What is the probability of a big loss on TZOO?

100%

Probability that Travelzoo stock will be more than 20% underwater in next one year

93.1%

Probability that Travelzoo stock will be more than 30% underwater in next one year.

83.5%

Probability that Travelzoo stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TZOO drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Travelzoo was unfortunately bought at previous high price.

Drawdowns

Returns for TZOO

Cumulative Returns on TZOO

-10.3%

10-Year Cumulative Returns

2.1%

7-Year Cumulative Returns

-11.7%

5-Year Cumulative Returns

15.7%

3-Year Cumulative Returns

What are the long-term rolling returns for TZOO?

FIve years rolling returns for Travelzoo.

Annualized Returns

Which funds bought or sold TZOO recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-18	JPMORGAN CHASE & CO	reduced	-99.78	-14,000	-	-%
2023-05-15	CITADEL ADVISORS LLC	new	-	137,482	137,482	-%
2023-05-15	VANGUARD GROUP INC	unchanged	-	602,891	2,290,230	-%
2023-05-15	BRIDGEWAY CAPITAL MANAGEMENT, LLC	unchanged	-	51,903	197,164	-%
2023-05-15	GEODE CAPITAL MANAGEMENT, LLC	unchanged	-	102,640	389,640	-%
2023-05-15	MILLENNIUM MANAGEMENT LLC	new	-	140,000	140,000	-%
2023-05-15	Creative Planning	unchanged	-	31,959	121,404	-%
2023-05-15	Invenomic Capital Management LP	reduced	-36.79	-305,192	1,842,810	0.10%
2023-05-15	Forager Capital Management, LLC	reduced	-40.05	-756,535	3,013,900	1.11%
2023-05-15	CastleKnight Management LP	unchanged	-	89,182	338,778	0.04%

Latest Funds Activity

Are funds buying TZOO calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own TZOO

No. of Funds

TZOO Alerts

2 major insider sales recently.

Travelzoo News

Schedule 13G FIlings of Travelzoo

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 15, 2023	forager fund, l.p.	5.3%	655,893	SC 13G/A
Feb 15, 2022	forager capital management, llc	5.6%	689,547	SC 13G
Feb 14, 2020	osmium partners, llc	8.3%	969,576	SC 13G

TZOO Fair Value

Show Fair-Value

Recent SEC filings of Travelzoo

View All Filings

Date Filed	Form Type	Document
Jun 02, 2023	4	Insider Trading
Jun 01, 2023	8-K	Current Report
May 26, 2023	4	Insider Trading
May 23, 2023	144	Notice of Insider Sale Intent
May 23, 2023	144	Notice of Insider Sale Intent
May 23, 2023	4	Insider Trading
May 12, 2023	10-Q	Quarterly Report
May 11, 2023	4	Insider Trading
May 10, 2023	4	Insider Trading
May 08, 2023	4	Insider Trading

Latest Insider Trading transactions for TZOO

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-24	BARTEL RALPH	acquired	-	-	121,307	-
2023-05-23	BARTEL RALPH	sold	-68,241	8.91	-7,659	-
2023-05-22	BARTEL RALPH	sold	-52,064	8.65	-6,019	-
2023-05-19	BARTEL RALPH	sold	-45,200	9.04	-5,000	-
2023-05-10	BARTEL RALPH	sold	-201,250	8.05	-25,000	-
2023-05-09	BARTEL RALPH	sold	-117,750	7.85	-15,000	-
2023-05-08	BARTEL RALPH	sold	-297,997	7.63	-39,056	-
2023-05-04	BARTEL RALPH	sold	-114,150	7.61	-15,000	-
2023-05-02	BARTEL RALPH	sold	-30,202	8.13	-3,715	-
2023-05-01	AZZURRO CAPITAL INC	sold	-196,250	7.85	-25,000	-

About Travelzoo

Holger Bartel

www.travelzoo.com

210

Travelzoo, an Internet media company, provides travel, entertainment, and local deals from travel and entertainment companies, and local businesses in the Asia Pacific, Europe, and North America. Its publications and products include Travelzoo Website; Travelzoo iPhone and Android apps; Travelzoo Top 20 email newsletter; and Newsflash email alert service. The company also operates the Travelzoo Network, a network of third-party Websites that list travel deals published by the company; and Local Deals and Getaway listings, which allow its members to purchase vouchers for deals from local businesses, such as spas, hotels, and restaurants. It serves airlines, hotels, cruise lines, vacations packagers, tour operators, destinations, car rental companies, travel agents, theater and performing arts groups, restaurants, spas, and activity companies. Travelzoo Inc. was founded in 1998 and is headquartered in New York, New York.

TZOO Income Statement

2023-03-31

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 21,601	$ 18,453
Cost of revenues	2,691	2,832
Gross profit	18,910	15,621
Operating expenses:
Sales and marketing	9,296	8,581
Product development	490	453
General and administrative	4,413	4,668
Total operating expenses	14,199	13,702
Operating income	4,711	1,919
Other income, net	350	1,423
Income from continuing operations before income taxes	5,061	3,342
Income tax expense	1,378	968
Income from continuing operations	3,683	2,374
Loss from discontinued operations, net of taxes	(2)	(11)
Net income	3,681	2,363
Net income attributable to non-controlling interest	8	4
Net income attributable to Travelzoo	3,673	2,359
Net income attributable to Travelzoo—continuing operations	3,675	2,370
Net loss attributable to Travelzoo—discontinued operations	$ (2)	$ (11)
Income (loss) per share—basic
Continuing operations (in dollars per share)	$ 0.23	$ 0.20
Discontinued operations (in dollars per share)	0	0
Net income (loss) per share - basic (in dollars per share)	0.23	0.20
Income (loss) per share—diluted
Continuing operations (in dollars per share)	0.23	0.19
Discontinuing operations (in dollars per share)	0	0
Income (loss) per share - diluted (in dollars per share)	$ 0.23	$ 0.19
Shares used in per share calculation from operations—basic (in shares)	15,697	12,056
Shares used in per share calculation from operations—diluted (in shares)	15,779	12,544
Continuing Operations
Income (loss) per share—diluted
Shares used in per share calculation from operations—basic (in shares)	15,697	12,056
Shares used in per share calculation from operations—diluted (in shares)	15,779	12,544
Discontinued Operations
Income (loss) per share—diluted
Shares used in per share calculation from operations—basic (in shares)	15,697	12,056
Shares used in per share calculation from operations—diluted (in shares)	15,697	12,056

TZOO Balance Sheet

2023-03-31

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 19,138	$ 18,693
Accounts receivable, less allowance for doubtful accounts of $1,386 and $1,468 as of March 31, 2023 and December 31, 2022, respectively	13,672	13,820
Prepaid income taxes	1,401	1,778
Prepaid expenses and other	1,764	1,289
Assets from discontinued operations	10	11
Total current assets	35,985	35,591
Deposits and other	4,618	5,094
Deferred tax assets	3,248	3,222
Restricted cash	679	675
Operating lease right-of-use assets	6,852	7,440
Property and equipment, net	692	657
Intangible assets, net	3,249	3,651
Goodwill	10,944	10,944
Total assets	66,267	67,274
Current liabilities:
Accounts payable	3,143	4,271
Merchant payables	27,976	32,574
Accrued expenses and other	4,611	5,049
Deferred revenue	3,124	2,216
Operating lease liabilities	2,682	2,972
Liabilities from discontinued operations	453	452
Total current liabilities	41,989	47,534
Long-term operating lease liabilities	7,926	8,326
Other long-term liabilities	3,530	2,563
Total liabilities	53,445	58,423
Commitments and contingencies	0	0
Non-controlling interest	4,603	4,595
Stockholders’ deficit:
Common stock, $0.01 par value (20,000 shares authorized; 16,505 shares issued and 15,669 shares outstanding and 16,505 shares issued and 15,704 outstanding as of March 31, 2023 and December 31, 2022, respectively)	165	165
Treasury stock (at cost, 836 shares at March 31, 2023 and 801 shares at December 31, 2022)	(7,316)	(7,130)
Additional paid in capital	23,670	23,274
Tax indemnification	(9,537)	(9,537)
Note receivable from shareholder	(4,753)	(4,753)
Retained earnings	10,815	7,142
Accumulated other comprehensive loss	(4,825)	(4,905)
Total stockholders’ equity	8,219	4,256
Total liabilities and stockholders’ equity	$ 66,267	$ 67,274