Exhibit 99.3
trivago N.V.
Unaudited Condensed Consolidated Interim Financial Statements as of September 30, 2021
1
trivago N.V.
Condensed consolidated statements of operations
(€ thousands, except per share amounts, unaudited)
Three months ended | Nine months ended | ||||||||||
September 30, | September 30, | ||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||
Revenue | € | 102,801 | € | 47,399 | € | 208,747 | € | 154,279 | |||
Revenue from related party | 35,838 | 13,243 | 63,592 | 62,298 | |||||||
Total revenue | 138,639 | 60,642 | 272,339 | 216,577 | |||||||
Costs and expenses: | |||||||||||
Cost of revenue, including related party, excluding | 3,136 | 2,644 | 8,683 | 8,112 | |||||||
amortization (1) | |||||||||||
Selling and marketing, including related party (1)(2)(3) | 104,374 | 36,553 | 199,077 | 160,777 | |||||||
Technology and content, including related party (1)(2)(3) | 12,746 | 14,786 | 39,139 | 50,695 | |||||||
General and administrative, including related party (1)(2)(3) | 9,765 | 7,992 | 28,469 | 32,316 | |||||||
Amortization of intangible assets (2) | 34 | 12 | 102 | 373 | |||||||
Impairment of goodwill | - | - | - | 207,618 | |||||||
Operating income/(loss) | 8,584 | (1,345) | (3,131) | (243,314) | |||||||
Other income/(expense) | |||||||||||
Interest expense | (106) | (45) | (308) | (150) | |||||||
Other, net | 353 | (417) | 985 | (1,015) | |||||||
Total other income/(expense), net | 247 | (462) | 677 | (1,165) | |||||||
Income/(loss) before income taxes | 8,831 | (1,807) | (2,454) | (244,479) | |||||||
Expense/(benefit) for income taxes | 3,303 | 626 | 2,047 | (7,409) | |||||||
Income/(loss) before equity method investment | 5,528 | (2,433) | (4,501) | (237,070) | |||||||
Income from equity method investment | - | 120 | - | 333 | |||||||
Net income/(loss) | € | 5,528 | € | (2,313) | € | (4,501) | € | (236,737) | |||
Earnings per share available to common stockholders: | |||||||||||
Basic | € | 0.02 | € | (0.01) | € | (0.01) | € | (0.67) | |||
Diluted | 0.02 | (0.01) | (0.01) | (0.67) | |||||||
Shares used in computing earnings per share: | |||||||||||
Basic | 358,076 | 353,543 | 357,181 | 353,151 | |||||||
Diluted | 368,322 | 353,543 | 357,181 | 353,151 |
2
Three months ended | Nine months ended | ||||||||||
September 30, | September 30, | ||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||
(1) Includes share-based compensation as follows: | |||||||||||
Cost of revenue | € | 68 | € | 70 | € | 189 | € | 190 | |||
Selling and marketing | 259 | 231 | 784 | 908 | |||||||
Technology and content | 1,135 | 904 | 2,864 | 3,085 | |||||||
General and administrative | 3,566 | 2,490 | 9,206 | 7,199 | |||||||
(2) Includes amortization as follows: | |||||||||||
Amortization of internal use software costs included in | € | 19 | € | 41 | € | 82 | € | 141 | |||
selling and marketing | |||||||||||
Amortization of internal use software and website | 1,159 | 997 | 3,479 | 2,919 | |||||||
development costs included in technology and content | |||||||||||
Amortization of internal use software costs included in | 75 | 82 | 246 | 407 | |||||||
general and administrative | |||||||||||
Amortization of acquired technology included in | 34 | 12 | 102 | 84 | |||||||
amortization of intangible assets | |||||||||||
(3) Includes related party expense as follows: | |||||||||||
Cost of revenue | € | - | € | (32) | € | - | € | (32) | |||
Selling and marketing | € | 28 | € | 38 | € | 101 | € | 126 | |||
Technology and content | 13 | 19 | 40 | 104 | |||||||
General and administrative | - | 9 | - | 31 |
See accompanying notes
3
trivago N.V.
Condensed consolidated statements of comprehensive income/(loss)
(€ thousands, unaudited)
Three months ended | Nine months ended | |||||||||
September 30, | September 30, | |||||||||
2021 | 2020 | 2021 | 2020 | |||||||
Net income/(loss) | € | 5,528 | € | (2,313) | € | (4,501) | € (236,737) | |||
Other comprehensive income/(loss): | ||||||||||
Currency translation adjustments | 12 | (49) | 4 | (20) | ||||||
Total other comprehensive income/(loss) | 12 | (49) | 4 | (20) | ||||||
Comprehensive income/(loss) | € | 5,540 | € | (2,362) | € | (4,497) | € (236,757) | |||
See accompanying notes
4
trivago N.V.
Condensed consolidated balance sheets
(€ thousands, except share and per share data, unaudited)
ASSETS | As of | As of | |||
September 30, 2021 | December 31, 2020 | ||||
Current assets: | |||||
Cash and cash equivalents | € | 194,438 | € | 208,353 | |
Restricted cash | - | 103 | |||
Accounts receivable, net of allowance for credit losses of €573 and €348 | 55,252 | 11,642 | |||
at September 30, 2021 and December 31, 2020, respectively | |||||
Accounts receivable, related party | 20,680 | 2,969 | |||
Short-term investments | - | 19,448 | |||
Tax receivable | 3,642 | 7,839 | |||
Prepaid expenses and other current assets | 10,496 | 10,438 | |||
Total current assets | 284,508 | 260,792 | |||
Property and equipment, net | 17,121 | 26,682 | |||
Operating lease right-of-use assets | 49,139 | 86,810 | |||
Deferred income taxes | 1 | 1 | |||
Other long-term assets | 3,313 | 4,399 | |||
Intangible assets, net | 170,119 | 169,550 | |||
Goodwill | 287,751 | 282,664 | |||
TOTAL ASSETS | € | 811,952 | € | 830,898 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
Current liabilities: | |||||
Accounts payable | € | 19,921 | € | 6,755 | |
Income taxes payable | 1,013 | 102 | |||
Deferred revenue | 1,762 | 2,750 | |||
Payroll liabilities | 3,269 | 2,983 | |||
Accrued expenses and other current liabilities | 16,104 | 14,934 | |||
Operating lease liability | 2,258 | 7,188 | |||
Total current liabilities | 44,327 | 34,712 | |||
Operating lease liability | 45,837 | 85,979 | |||
Deferred income taxes | 44,264 | 42,176 | |||
Other long-term liabilities | 3,210 | 3,514 | |||
Stockholders' equity: | |||||
Class A common stock, €0.06 par value - 700,000,000 shares | |||||
authorized, 95,317,292 and 55,967,976 shares issued and outstanding | 5,719 | 3,358 | |||
as of September 30, 2021 and December 31, 2020, respectively | |||||
Class B common stock, €0.60 par value - 320,000,000 shares | |||||
authorized, 262,934,762 and 298,187,967 shares issued and | |||||
outstanding as of September 30, 2021 and December 31, 2020, | 157,761 | 178,913 | |||
respectively | |||||
Reserves | 831,102 | 798,017 | |||
Contribution from Parent | 122,307 | 122,307 | |||
Accumulated other comprehensive income/(loss) | 8 | 4 | |||
Accumulated deficit | (442,583) | (438,082) | |||
Total stockholders' equity | 674,314 | 664,517 | |||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | € | 811,952 | € | 830,898 | |
See accompanying notes
5
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trivago NV published this content on 01 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2021 11:46:05 UTC.