Risk Factors Update Summary
- Generated consolidated net income increased significantly from $911,000 in 2021 to $12.5 million in 2023.
- Announced move to a paid membership model effective January 1, 2024, with existing members grandfathered.
- Launched Travelzoo META Founding Membership with plans for a subscription membership service.
- Added a surcharge option for full refundability, pivoted back to 14-day voucher refundability.
- Increased marketing spend for member acquisition from $2.9 million in 2021 to $5.3 million in 2022.
- Negative working capital decreased from $11 million in 2022 to $3 million in 2023.
- Ownership percentage by Azzurro decreased from approximately 50% to 40% in 2023.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1133311&owner=exclude
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