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Qo Tripadvisor Tripadvisor Reports Second Quarter 2021 Financial Results NEEDHAM , MA , August 5 , 2021 — Tripadvisor , Inc. ( NASDAQ : TRIP ) today announced financial results for the second quarter ended June 30 , 2021 . " We saw meaningful sequential improvement in Q2 , as revenue increased 91 % compared to Q1 2021 driven by continued U.S. strength and Europe , which improved materially later in the quarter ” , said Chief Executive Officer Steve Kaufer . " We believe increased vaccination rates and reopenings across the globe are both undeniably positive steps towards travel's eventual full recovery and we are pleased with our business's demonstrated resilience . Further , the Tripadvisor growth story extends well beyond the recovery , and we are making progress building the future of travel . Specifically , we fully rolled out our new subscription service , Tripadvisor Plus , in our first market . This is an example of our commitment to leveraging our platform's unique strengths to deepen consumer engagement on our platform and drive value for partners . We believe executing our strategy will lay the foundation for sustained , profitable growth in the years to come . " Chief Financial Officer Ernst Teunissen added , “ The broadening recovery , along with strong execution by our team , drove improved financial performance in the quarter that was better than our internal expectations . Revenue as a percentage of Q2 2019 levels improved , our net loss narrowed , and adjusted EBITDA returned to positive . Our results are a testament to our ongoing cost discipline as we navigate what remains an uneven landscape both in terms of geography and business line . That said , we are very encouraged with Q2 improvement and believe that the travel recovery is on an overall positive trajectory . " Second Quarter 2021 Financial Results Three months ended June 30 , ( In millions , except percentages and per share amounts ) Total Revenue Hotels , Media & Platform Experiences & Dining Other GAAP Net Income ( Loss ) Total Adjusted EBITDA ( 1 ) Hotels , Media & Platform 2021 2020 % Change SA SASA SA $ 235 $ 59 298 % $ 156 $ 68 $ 11 SASASA $ 38 311 % $ 14 386 % $ 7 57 % EA $ ( 40 ) $ ( 153 ) ( 74 ) % Experiences & Dining Other SA SA SAU $ 25 $ 33 SA SA $ ( 74 ) n.m. $ ( 33 ) n.m. $ ( 12 ) $ ( 38 ) ( 68 ) % $ 4 $ ( 3 ) n.m. Non - GAAP Net Income ( Loss ) ( 1 ) $ EA ( 10 ) $ ( 102 ) ( 90 ) % Diluted Earnings ( Loss ) per Share : GAAP Non - GAAP ( 1 ) EA A Cash flow provided by ( used in ) operating activities Free cash flow ( 1 ) SA SA $ ( 0.29 ) $ ( 1.14 ) ( 75 ) % $ ( 0.07 ) $ ( 0.76 ) ( 91 ) % $ 126 $ ( 78 ) n.m. $ 112 $ ( 93 ) n.m. n.m. = not meaningful ( 1 ) " Total Adjusted EBITDA " , " Non - GAAP Net Income ( Loss ) " , " Non - GAAP Diluted Earnings ( Loss ) per Share " , and " Free cash flow " are non- GAAP measures as defined by the U.S. Securities and Exchange Commission ( the " SEC " ) . Please refer to " Non - GAAP Financial Measures " below for definitions and explanations of these non - GAAP financial measures , as well as tabular reconciliations to the most directly comparable GAAP financial measures . 1