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Adjusted EBITDA Margin by Segment
Shows profitability across different business segments, highlighting areas of strength and efficiency in operations.Tripadvisor’s profitability profile is visibly shifting: Brand’s high-margin contribution has softened and effectively disappears in the latest periods (suggesting reclassification or reduced comparability), while Fork/TheFork and Hotels & Other have driven recent margin improvement—consistent with management’s callouts of Fork outperformance, cost cuts and AI productivity. Experiences remains the wild card, swinging into loss in Q1 from a late‑2025 uptick, reflecting cancellations, seasonality and marketing cadence. The near-term margin gain looks driven more by expense cuts and Fork momentum than durable revenue strength, so recovery depends on normalized bookings.
Date | Brand | Viator | TheFork | Experiences | Hotels & Other |
|---|---|---|---|---|---|
Jun 30, 2026 | 11.10 | 27.90 | |||
Mar 31, 2026 | 8.00 | -11.40 | 23.20 | ||
Dec 31, 2025 | 2.00 | 7.00 | 20.00 | ||
Sep 30, 2025 | 25.00 | 17.00 | 22.00 | ― | ― |
Jun 30, 2025 | 27.00 | 12.00 | 16.00 | ― | ― |
Mar 31, 2025 | 30.00 | -11.00 | -7.00 | ― | ― |
Dec 31, 2024 | 26.00 | 11.00 | 0.00 | ― | ― |
Sep 30, 2024 | 34.00 | 11.00 | 10.00 | ― | ― |
Jun 30, 2024 | 34.00 | 4.00 | 7.00 | ― | ― |
Mar 31, 2024 | 33.00 | -19.00 | -10.00 | ― | ― |