v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Operating Segment Information
The following tables present our segment information for the three and six months ended June 30, 2026 and 2025. As a significant portion of our property and equipment is not allocated to our reportable segments and depreciation is not included in
our segment measure, we do not report assets by segment as it would not be meaningful. We do not regularly provide such information to our CODMs.
Three months ended June 30, 2026
B2CB2BtrivagoTotal
(In millions)
Third-party revenue$2,677 $1,493 $145 $4,315 
Intersegment revenue— — 51 51 
$2,677 $1,493 $196 $4,366 
Reconciliation of revenue:
Elimination of intersegment revenue(51)
Total consolidated revenue$4,315 
Less: (1)
Cost of revenue346 39 13 
Selling and marketing - direct1,101 915 154 
Other segment items (2)
341 170 28 
Segment Adjusted EBITDA$889 $369 $1 $1,259 
Unallocated corporate and other expenses (3)
(140)
Depreciation and amortization(228)
Stock-based compensation(114)
Legal reserves, occupancy tax and other(6)
Restructuring and related reorganization charges, excluding stock-based compensation(11)
Other income, net, excluding realized gain/loss on revenue hedges (4)
267 
Income before income taxes$1,027 


Three months ended June 30, 2025
B2CB2BtrivagoTotal
(In millions)
Third-party revenue$2,479 $1,209 $98 $3,786 
Intersegment revenue— — 60 60 
$2,479 $1,209 $158 $3,846 
Reconciliation of revenue:
Elimination of intersegment revenue(60)
Total consolidated revenue$3,786 
Less: (1)
Cost of revenue340 28 4 
Selling and marketing - direct1,092 752 136 
Other segment items (2)
319 98 24 
Segment Adjusted EBITDA$728 $331 $(6)$1,053 
Unallocated corporate and other expenses (3)
(145)
Depreciation and amortization(223)
Stock-based compensation(105)
Legal reserves, occupancy tax and other(2)
Restructuring and related reorganization charges, excluding stock-based compensation(41)
Other expense, net, excluding realized gain/loss on revenue hedges (4)
(114)
Income before income taxes$423 
Six months ended June 30, 2026
B2CB2BtrivagoTotal
(In millions)
Third-party revenue$4,795 $2,676 $270 $7,741 
Intersegment revenue— — 93 93 
$4,795 $2,676 $363 $7,834 
Reconciliation of revenue:
Elimination of intersegment revenue(93)
Total consolidated revenue$7,741 
Less: (1)
Cost of revenue670 78 22 
Selling and marketing - direct2,136 1,641 291 
Other segment items (2)
674 319 56 
Segment Adjusted EBITDA$1,315 $638 $(6)$1,947 
Unallocated corporate and other expenses (3)
(286)
Depreciation and amortization(456)
Stock-based compensation(217)
Legal reserves, occupancy tax and other58 
Restructuring and related reorganization charges, excluding stock-based compensation(63)
Other income, net, excluding realized gain/loss on revenue hedges (4)
69 
Income before income taxes$1,052 
Six months ended June 30, 2025
B2CB2BtrivagoTotal
(In millions)
Third-party revenue$4,435 $2,156 $183 $6,774 
Intersegment revenue— — 106 106 
$4,435 $2,156 $289 $6,880 
Reconciliation of revenue:
Elimination of intersegment revenue(106)
Total consolidated revenue$6,774 
Less: (1)
Cost of revenue652 66 8 
Selling and marketing - direct2,207 1,329 247 
Other segment items (2)
631 214 45 
Segment Adjusted EBITDA$945 $547 $(11)$1,481 
Unallocated corporate and other expenses (3)
(277)
Depreciation and amortization(442)
Stock-based compensation(203)
Legal reserves, occupancy tax and other(2)
Restructuring and related reorganization charges, excluding stock-based compensation(67)
Other expense, net, excluding realized gain/loss on revenue hedges (4)
(284)
Income before income taxes$206 
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(1)     The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODMs, exclusive of stock-based compensation. Intersegment expenses are included within the amounts shown.
(2)     Other segment items for each reportable segment primarily include selling and marketing - indirect, technology and content and general and administrative expenses as well as the realized foreign currency gains or losses related to the forward contracts hedging a component of our net merchant lodging revenue for our B2C and B2B segments.
(3)     Unallocated corporate and other expenses include certain shared expenses such as accounting, human resources, certain information and technology and legal costs.
(4) Other expense, net is adjusted to exclude the realized foreign currency gains (losses) related to the forward contracts hedging a component of our net merchant lodging revenue for our B2C and B2B segments of $(40) million and $52 million of gains (losses) for the three months ended June 30, 2026 and 2025 and $(68) million and $75 million of gains (losses) for the six months ended June 30, 2026 and 2025, respectively, which are included within our Segment Adjusted EBITDA.
Schedule of Revenue by Services
The following table presents revenue by business model and service type:
Three months ended
June 30,		Six months ended
June 30,
2026202520262025
(in millions)
Business Model:
Merchant $3,065 $2,624 $5,466 $4,670 
Agency872 852 1,547 1,504 
Advertising, media and other378 310 728 600 
Total revenue
$4,315 $3,786 $7,741 $6,774 
Service Type:
Lodging$3,429 $3,040 $6,039 $5,329 
Air91 105 198 212 
Expedia Group (“EG”) Advertising206 182 403 356
trivago Advertising145 98 270 183
Other(1)
444 361 831 694 
Total revenue
$4,315 $3,786 $7,741 $6,774 
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(1)Other includes revenue from insurance, car rental, activities and cruise revenue, among other revenue streams, none of which are individually material.