10-Q · May 14, 2026
Travelzoo reported a Q1 2026 revenue of $24.3M, up 5% year-over-year from $23.14M, and a diluted EPS of $0.23, exceeding the consensus estimate of $0.15. Revenue growth was primarily driven by an increase in membership…
Earnings analysis · 10-Q
TZOO earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Travelzoo’s Q2 results were materially weaker than expected: revenue fell 3% year over year to $23.208 million and diluted EPS declined to $(0.21) from $0.12, producing a $(2.762) million operating loss. The filing…
Read full summary
Travelzoo’s Q2 results were materially weaker than expected: revenue fell 3% year over year to $23.208 million and diluted EPS declined to $(0.21) from $0.12, producing a $(2.762) million operating loss. The filing provides no quantitative guidance, although management expects year-over-year revenue growth in Q3 2026 and subsequent quarters. Continued Club Member investment, international-conflict uncertainty, and the sharp margin deterioration outweigh the announced $1.9 million share repurchase.
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.
Reported figures
- Earnings per share
- $-0.21
- Operating margin
- -11.9%
What stood out
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Revenue missed estimates and declined YoY
Q2 revenue was $23.208 million, down 3% year over year and 7.7% below the $25.151 million consensus estimate.
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EPS swung to a loss
Diluted EPS was $(0.21), versus $0.12 in Q2 2025 and the $0.13 consensus estimate, a $0.34 per-share miss.
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Company continued share repurchases
Travelzoo repurchased 200,000 shares for an aggregate $1.9 million during Q2, with 300,000 shares remaining under the authorized program at June 30, 2026.
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Management expects Q3 revenue growth
Management expects year-over-year revenue growth in Q3 2026 and subsequent quarters, supported by ratable recognition of 12-month membership fees and growth in Club Members.
What to watch
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Operating performance deteriorated sharply
The company reported a $(2.762) million operating loss in Q2, compared with an 8.6% operating margin in Q2 2025 and a 14.2% margin in Q1 2026.
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Demand and investment headwinds
Revenue declined 3% year over year to $23.208 million, while management cited uncertainty from international conflicts and continued investment in Club Member growth as operating headwinds.
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No new risk-factor disclosure
The filing states that the risk factors from the fiscal 2025 Form 10-K are incorporated by reference and does not identify new or modified risk factors; additional unknown risks may still materially affect results.
Management's outlook
Management expects year-over-year revenue growth in Q3 2026 and subsequent quarters, driven by ratable recognition of 12-month membership fees and Club Member growth. No numerical revenue or EPS guidance was provided.
Earlier filings 4
10-K · March 11, 2026
Travelzoo's 2025 results show modest top-line growth (annual revenue of $91.0M, calculated from quarterly revenues of $23M, $24M, $22M and $22M) and positive net income of $5.0M (of which $4.7M was attributable to…
10-Q · August 12, 2025
Travelzoo reported Q2 revenue of $23,906,000, up $2,765,000 (13.1%) versus Q2 2024, but gross margin compressed to 78.4% and operating income fell to $2,060,000. Diluted EPS declined to $0.12 from $0.23 a year earlier…
10-K · March 22, 2024
Travelzoo's 2023 10‑K emphasizes its position as a digital advertising/media platform with 31.1 million members (up from 30.4 million in 2022) and a segment mix weighted to North America (66% of 2023 revenue).…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.