Tripadvisor reported third quarter 2026 financial results

Item 2.02.

Results of Operations and Financial Condition.¹

On November 5, 2026, Tripadvisor, Inc. issued a press release announcing its preliminary financial results for the three and nine months ended September 30, 2026. The full text of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Pursuant to General Instruction B.2. to Form 8-K, the information set forth in Items 2.02 and Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall they be incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number

Description

99.1

Press Release of Tripadvisor, Inc. dated November 5, 2026 regarding earnings.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TRIPADVISOR, INC.

Date: November 5, 2026

By:

/ S / MICHAEL NOONAN

Michael Noonan

Chief Financial Officer

Tripadvisor Reports Third Quarter 2026 Financial Results

NEEDHAM, MA, November 5, 2026 — Tripadvisor, Inc. (NASDAQ: TRIP) (the "Company") today announced financial results for the third quarter ended September 30, 2026.

Financial Highlights for Continuing Operations

• Revenue for the third quarter was $436.4 million, a decline of 11% year-over-year.

• Net loss for the third quarter was $316.9 million, or $(2.70) diluted EPS, driven primarily by a non-cash goodwill impairment charge, as discussed further below.

• Non-GAAP net income for the third quarter was $43.4 million, or $0.37 diluted EPS.

• Adjusted EBITDA for the third quarter was $71.1 million, or 16.3% of revenue.

Third Quarter 2026 Financial Summary for Continuing Operations

Three months ended September 30,

(In millions, except percentages and per share amounts)

2026

2025

% Change

Total Revenue²

$²

436.4²

$

490.8

(11

)%

Experiences

$

284.8

$

294.3

(3

)%

Hotels and Other

$

151.6

$

196.5

(23

)%

GAAP Net Income (Loss) from continuing operations

$

(316.9

)

$

48.5 n.m.

Total Adjusted EBITDA from continuing operations (1)

$

71.1

$

107.8

(34

)%

Experiences

$

38.2

$

52.4

(27

)%

Hotels and Other

$

32.9

$

55.4

(41

)%

Non-GAAP Net Income (Loss) from continuing operations (1)

$

43.4

$

71.2

(39

)%

Diluted Net Income (Loss) per Share from continuing operations:

GAAP

$

(2.70

)

$

0.39 n.m.

Non-GAAP (1)

$

0.37

$

0.58

(36

)%

Cash flow from operating activities from continuing operations

$

(122.0

)

$

32.9 n.m.

Free cash flow from continuing operations (1)

$

(131.2

)

$

19.0 n.m.

n.m. = not meaningful

(1) "Total Adjusted EBITDA from continuing operations," "Non-GAAP Net Income (Loss) from continuing operations," "Non-GAAP Diluted Net Income (Loss) per Share from continuing operations," and "Free cash flow from continuing operations" 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.

Cost performance – Total costs and expenses from continuing operations were $773.1 million for the third quarter, an increase of 81% year-over-year, driven by a non-cash goodwill impairment charge of $369.5 million, as discussed below, and the following:

For the Three Months Ended September 30,

2026

2025

% Change

Cost of sales

$

37.3

$

36.2

3

%

Marketing

$

213.0

$

212.4

0

%

Personnel

$

94.0

$

123.8

(24

)%

Technology

$

22.9

$

21.9

5

%

General and administrative

$

16.6

$

14.4

15

%

Percentage of Total Revenue

Cost of sales

8.5

%

7.4

%

Marketing

48.8

%

43.3

%

Personnel

21.5

%

25.2

%

Technology

5.2

%

4.5

%

General and administrative

3.8

%

2.9

%

Cash & Liquidity – As of September 30, 2026, the Company had $706.8 million of cash and cash equivalents from continuing operations, a decrease of $271.2 million from December 31, 2025, driven by the repayment of the Company's 2026 Senior Notes on April 1, 2026 for $345.4 million. The cash and cash equivalents balance as of September 30, 2026 does not include any proceeds received in November 2026 from the sale of TheFork.

Segment Highlights

Experiences

• Revenue for the third quarter was $284.8 million, reflecting year-over-year decline of 3%.

• The number of experience bookings was approximately 6.8 million during the third quarter, an increase of approximately 2%, when compared to the same period in 2025. Experience bookings include a single tour, activity, or attraction that can be purchased through Viator's platform for one or several travelers, prior to adjustments such as date changes, refunds, or cancellations.

• Gross bookings value ("GBV") reached approximately $1.3 billion during the third quarter, which was approximately flat when compared to the same period in 2025. GBV is reported at the time of booking and is gross of cancellations, whereas revenue is recorded at the time of the experience and is net of cancellations.

• Adjusted EBITDA for the third quarter was $38.2 million, or 13.4% of revenue, compared to adjusted EBITDA in the same period a year ago of $52.4 million, or 17.8% of revenue.

Hotels and Other

• Revenue for the third quarter was $151.6 million, reflecting a year-over-year decline of 23%.

o Hotels revenue for the third quarter was $109.7 million, reflecting a year-over-year decline of 23%.

o Media and advertising revenue for the third quarter was $27.7 million, reflecting a year-over-year decline of 23%.

o Other revenue for the third quarter was $14.2 million, reflecting a year-over-year decline of 18%.

• Adjusted EBITDA for the third quarter was $32.9 million, or 21.7% of revenue, compared to adjusted EBITDA in the same period a year ago of $55.4 million, or 28.2% of revenue.

2

Sale of TheFork

As previously announced, in August 2026, the Company entered into an Equity Purchase Agreement with American Express to sell its business segment TheFork. Effective November 1, 2026 (the "Closing Date"), the Company completed the sale and received total net cash consideration of approximately $741.0 million, reflecting customary adjustments to the purchase price and other transaction-related costs. The net proceeds received from the sale of TheFork provides the Company with additional flexibility in its capital structure. The Company will continue to maintain optionality with re