Tripadvisor Group said its combined marketplace businesses of brand Tripadvisor and Viator experiences have “more than offset the declines in legacy offerings” as it reported fourth quarter and full year results for 2025.
The company reported Q4 revenue of $411 million which was flat year over year. Fully year revenue was $1.9 billion, up 3% year over year.
The Experiences business reported revenue of $204 million in the quarter, up from $186 million year over year and up 10% to $924 million for the full year.
The hotels and other business unit reported a 15% decline to revenue of $151 million for the quarter and was down 8% to $750 million for the year.
Net loss for Q4 was $38 million, down from $2 million for the same period in 2024. Net income for the year was $40 million, an increase on 2024’s figure of $5 million. Adjusted EBITDA for Q4 of $45 million was 11% of revenue and the full year figure of $319 million represented almost 17% of revenue.
Marketing costs in the quarter were $175 million, up 15% year over year and $791 million for the full year, a 9% increase year over year.
Technology costs increased 7% to £25 million in Q4 and were up 8% to $99 million for the full year.
“We are pleased with our 2025 financial performance, achieving record revenue of $1.9 billion, driven by our marketplace businesses, in particular Experiences, which contributed nearly 50% of group revenue and 30% of group profit,” said Matt Goldberg, group CEO.
He added that the marketplace businesses, which it said in November 2025 would be combined amid a restructuring plan, “are poised to deliver healthy growth and higher profitability in 2026.”
“We are squarely focused on extending our leadership position in experiences globally as we simplify our portfolio and evaluate options to unlock shareholder value, including exploring strategic alternatives for TheFork.”
Back in November the company announced job cuts of 20% of the group or 450 people as part of the restructure and anticipated $80 million in annualized cost savings. Tripadvisor said the strategy would “support its positioning as an experiences-led and AI enabled company.”
The realignment came amid activist pressure from Starboard Value, which took a 9% stake in the company in July, calling it “undervalued” at the time. In October 2025 Starboard CEO Jeff Smith spoke of opportunity to “transform and reimagine the user experience…” as reported by Reuters.
This story will be updated following the company’s Q4 and full-year earnings call.