TripAdvisor, Inc. (TRIP) FY2025 10-K Annual Report
Filed: Feb 13, 2026
Information Technology
Services-Computer Programming, Data Processing, Etc.SEC EDGAR TripAdvisor, Inc. (TRIP) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 13, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
TripAdvisor, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Online travel platform emphasizing experiences and hotel bookings
- • Strategic shift: Realignment to an experiences-led, AI-enabled operating model announced Nov 2025
- • Workforce reduction: Global headcount cut to achieve $85M annualized cost savings starting 2026
- • Restructuring costs: $33M pre-tax charges in Q4 2025, plus $4M expected in Q1 2026 for severance
- • Segment changes: Hotels and Other segment renamed from Brand Tripadvisor; Experiences segment formerly Viator
Management Discussion & Analysis
- • Revenue $1,891.3M, up 3% YoY from $1,834.6M in 2024
- • Operating income $79.5M, down 13% YoY from $91.9M, operating margin approx. 4.2% vs 5.0% in 2024
- • Experiences segment revenue $924.4M, best performer, up 10% YoY; Adjusted EBITDA $91.1M, margin 9.9% vs 9.4% in 2024
- • Interest expense increased 36% to $63.3M; net income $39.8M vs $4.9M in 2024, up 712%
- • Restructuring costs rose 106% to $43.4M; marketing costs $791.4M, up 9%; management cautious on cost growth and restructuring impacts
Risk Factors
- • Regulatory/legal risk: evolving platform liability laws affecting Experiences marketplace exposing TripAdvisor to increased insurance costs and potential uninsured legal claims
- • Geopolitical/macro risk: Ukraine-Russia and Israel-Hamas conflicts disrupting travel demand in affected regions
- • Operational/supply chain risk: dependence on traffic from Google search and app stores subject to algorithm changes and app store policy updates
- • Competitive/market disruption: competition by AI-driven travel curators like Travel Plan AI, Aitinerary, and dominant players Google and Expedia
- • Financial risk: high revenue concentration with Booking and Expedia accounting for approximately 21-22% of consolidated revenue
TripAdvisor, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$1.9B
▲ +3.1% YoY
Net Income
$40M
▲ +700.0% YoY
Operating Margin
4.2%
▼ -78bp YoY
Net Margin
2.1%
▲ +184bp YoY
ROE
6.2%
▲ +567bp YoY
Total Assets
$2.6B
▲ +2.5% YoY
EPS (Diluted)
$0.31
▲ +675.0% YoY
Operating Cash Flow
$245M
▲ +70.1% YoY
Source: XBRL data from TripAdvisor, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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