Exhibit 99.3
trivago N.V.
Unaudited Condensed Consolidated Interim Financial Statements as of March 31, 2021
1
trivago N.V.
Condensed consolidated statements of operations (€ thousands, except per share amounts, unaudited)
Three months ended March 31, | |||||
2021 | 2020 | ||||
Revenue | € | 30,609 | € | 93,289 | |
Revenue from related party | 7,617 | 46,514 | |||
Total revenue | 38,226 | 139,803 | |||
Costs and expenses: | |||||
Cost of revenue, including related party, excluding amortization (1)(3) | 2,586 | 2,814 | |||
Selling and marketing, including related party (1)(2)(3) | 23,337 | 111,377 | |||
Technology and content, including related party (1)(2)(3) | 12,640 | 17,616 | |||
General and administrative, including related party (1)(2)(3) | 8,515 | 15,305 | |||
Amortization of intangible assets (2) | - | 325 | |||
Impairment of goodwill | - | 207,618 | |||
Operating loss | (8,852) | (215,252) | |||
Other income/(expense) | |||||
Interest expense | (56) | (46) | |||
Other, net | 906 | (324) | |||
Total other income/(expense), net | 850 | (370) | |||
Loss before income taxes | (8,002) | (215,622) | |||
Benefit for income taxes | (1,262) | (1,122) | |||
Loss before equity method investment | (6,740) | (214,500) | |||
Income from equity method investment | - | 234 | |||
Net loss | € | (6,740) | € | (214,266) | |
Earnings per share available to common stockholders: | |||||
Basic | € | (0.02) | € | (0.61) | |
Diluted | (0.02) | (0.61) | |||
Shares used in computing earnings per share: | |||||
Basic | 355,861 | 352,773 | |||
Diluted | 355,861 | 352,773 |
2
Three months ended March 31, | |||||
2021 | 2020 | ||||
(1) Includes share-based compensation as follows: | |||||
Cost of revenue | € | 50 | € | 50 | |
Selling and marketing | 226 | 332 | |||
Technology and content | 664 | 1,035 | |||
General and administrative | 2,178 | 2,084 | |||
(2) Includes amortization as follows: | |||||
Amortization of internal use software costs included in selling and marketing | € | 32 | € | 50 | |
Amortization of internal use software and website development costs included | 1,153 | 930 | |||
in technology and content | |||||
Amortization of internal use software costs included in general and | 85 | 164 | |||
administrative | |||||
Amortization of acquired technology included in amortization of intangible | 0 | 36 | |||
assets | |||||
(3) Includes related party expense as follows: | |||||
Cost of revenue | € | - | € | - | |
Selling and marketing | 21 | 57 | |||
Technology and content | 14 | 72 | |||
General and administrative | - | 226 |
See accompanying notes
3
trivago N.V.
Condensed consolidated statements of comprehensive income/(loss)
(€ thousands, unaudited)
Three months ended March 31, | |||||
2021 | 2020 | ||||
Net loss | € | (6,740) | € | (214,266) | |
Other comprehensive income/(loss): | |||||
Currency translation adjustments | (15) | 34 | |||
Total other comprehensive income/(loss) | (15) | 34 | |||
Comprehensive loss | € | (6,755) | € | (214,232) | |
See accompanying notes
4
trivago N.V.
Condensed consolidated balance sheets
(€ thousands, except share and per share data, unaudited)
ASSETS | As of | As of | |||
March 31, 2021 | December 31, 2020 | ||||
Current assets: | |||||
Cash and cash equivalents | € | 191,622 | € | 208,353 | |
Restricted cash | 103 | 103 | |||
Accounts receivable, net of allowance for credit losses of €420 and €348 | 16,197 | 11,642 | |||
at March 31, 2021 and December 31, 2020, respectively | |||||
Accounts receivable, related party | 5,419 | 2,969 | |||
Short-term investments | 19,713 | 19,448 | |||
Tax receivable | 12,160 | 7,839 | |||
Prepaid expenses and other current assets | 11,757 | 10,438 | |||
Total current assets | 256,971 | 260,792 | |||
Property and equipment, net | 19,581 | 26,682 | |||
Operating lease right-of-use assets | 51,218 | 86,810 | |||
Deferred income taxes | 1 | 1 | |||
Other long-term assets | 3,554 | 4,399 | |||
Intangible assets, net | 170,220 | 169,550 | |||
Goodwill | 287,728 | 282,664 | |||
TOTAL ASSETS | € | 789,273 | € | 830,898 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
Current liabilities: | |||||
Accounts payable | € | 10,355 | € | 6,755 | |
Income taxes payable | 105 | 102 | |||
Deferred revenue | 2,316 | 2,750 | |||
Payroll liabilities | 4,469 | 2,983 | |||
Accrued expenses and other current liabilities | 15,240 | 14,934 | |||
Operating lease liability | 2,659 | 7,188 | |||
Total current liabilities | 35,144 | 34,712 | |||
Operating lease liability | 47,129 | 85,979 | |||
Deferred income taxes | 41,624 | 42,176 | |||
Other long-term liabilities | 3,323 | 3,514 | |||
Stockholders' equity: | |||||
Class A common stock, €0.06 par value - 700,000,000 shares | |||||
authorized, 64,746,247 and 55,967,976 shares issued and outstanding | 3,884 | 3,358 | |||
as of March 31, 2021 and December 31, 2020, respectively | |||||
Class B common stock, €0.60 par value - 320,000,000 shares | |||||
authorized, 292,062,967 and 298,187,967 shares issued and | 175,238 | 178,913 | |||
outstanding as of March 31, 2021 and December 31, 2020, respectively | |||||
Reserves | 805,457 | 798,017 | |||
Contribution from Parent | 122,307 | 122,307 | |||
Accumulated other comprehensive income/(loss) | (11) | 4 | |||
Accumulated deficit | (444,822) | (438,082) | |||
Total stockholders' equity | 662,053 | 664,517 | |||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | € | 789,273 | € | 830,898 | |
See accompanying notes
5
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trivago NV published this content on 03 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2021 21:02:08 UTC.