10-Q · May 7, 2026
Tripadvisor reported disappointing Q1 2026 results with revenue of $382.4 million, down 4% from $398.2 million in Q1 2025. This resulted in a net loss of $32.4 million and a diluted EPS of $(0.28), worse than the…
Earnings analysis · 10-Q
TRIP earnings analysis
Filed November 5, 2026 · Our reading of the company's report
The latest report
The provided 10-Q sections do not include current-quarter income statement, balance-sheet, cash-flow, or segment results, so revenue, margin, EPS, and free-cash-flow trends cannot be assessed from the filing text…
Read full summary
The provided 10-Q sections do not include current-quarter income statement, balance-sheet, cash-flow, or segment results, so revenue, margin, EPS, and free-cash-flow trends cannot be assessed from the filing text supplied. Controls were deemed effective as of September 30, 2026, and no material internal-control changes or risk-factor changes were reported. The company retained $110.0 million of share-repurchase authorization but made no repurchases during the quarter, while international currency and geopolitical exposures remain key disclosed risks.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
-
Disclosure controls deemed effective
Management concluded that disclosure controls and procedures were effective as of September 30, 2026, including timely recording, processing, summarization, and reporting of material information.
-
No material ICFR changes
The company reported no changes during the quarter ended September 30, 2026 that materially affected, or were reasonably likely to materially affect, internal control over financial reporting.
-
Buyback authorization remains available
Tripadvisor had $110.0 million remaining under its authorized share repurchase program as of September 30, 2026, although it repurchased no shares during the quarter.
-
Market-risk profile unchanged
The company reported no material change in its market-risk profile during the nine months ended September 30, 2026 compared with December 31, 2025.
What to watch
-
Growing international currency exposure
The filing states that foreign-currency exposure will increase as international operations expand. Exposure is linked to inflation, interest rates, geopolitical events, tariffs, sanctions, and continued uncertainty in U.K. and E.U. relations during the nine months ended September 30, 2026.
-
Debt and market-rate sensitivity
The company identifies potential exposure to borrowings under the Credit Facility and outstanding debt under the Term Loan B Facility, as well as foreign-currency-denominated balances. The filing reports no material change in market risk since December 31, 2025, but adverse rate or currency movements could affect earnings, cash flows, and financial condition.
-
Geopolitical and macro volatility
The 10-Q states that there were no material changes to risk factors during the quarter ended September 30, 2026; however, it continues to identify macroeconomic volatility from geopolitical tensions, including Russia’s invasion of Ukraine and the conflict in the Middle East and Iran, as relevant risks.
Management's outlook
The 10-Q does not provide quantitative revenue or EPS guidance; no change to prior outlook is disclosed.
Earlier filings 4
10-K · February 13, 2026
Tripadvisor’s 10-K reiterates a strategic shift toward scaling its Experiences marketplace and TheFork dining marketplace while running Hotels & Other for profitability; marketplace offerings (Experiences + TheFork)…
10-Q · May 7, 2025
Tripadvisor reported Q1 revenue of $398M, up $3M (0.8%) year-over-year, with diluted EPS of $(0.08) versus $(0.43) in Q1 2024. Gross margin remained high at ~93.2% while operating loss was $(15)M; operating cash flow…
10-K · February 20, 2025
Tripadvisor presents a strategy to monetize a large, trusted travel audience across three segments (Brand Tripadvisor, Viator, TheFork) by investing in product, data and marketplace scale. The filing emphasizes durable…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.