Tripadvisor’s 2025 Results Say Experiences Bring 30% of Profit

Tripadvisor has released its financial results for the fourth quarter and full year 2025, highlighting how its combined marketplace businesses, Tripadvisor brand and Viator experiences, have largely offset declines in its traditional legacy offerings.

“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 percent of Group revenue and 30 percent of Group profit,” said CEO Matt Goldberg.

Fourth quarter 2025 financial results

• Tripadvisor generated $411 million in revenue, remaining essentially flat compared to the same period last year.
• Despite steady top-line revenue, net results were weaker. The company recorded a net loss of $38 million, or a loss of $0.33 per diluted share, compared with a modest $2 million net income and $0.01 per diluted share in Q4 2024.
• Adjusted EBITDA fell to $45 million, representing 11.0 percent of revenue, down from $73 million a year earlier.

Full year 2025 financial results

• Tripadvisor’s revenue rose to $1,891 million, marking a 3 percent increase over 2024.
• Net income reached $40 million, or $0.31 per diluted share, up from $5 million ($0.04 EPS) in the previous year, indicating profitability recovery.
• Adjusted EBITDA for the year declined slightly to $319 million, or 16.9 percent of revenue, down from $339 million, suggesting ongoing pressure from operational expenses and strategic restructuring.

Segment results: experiences outperform, hotels lag

Experiences: The experiences segment, including Viator, continued to show strength. Q4 revenue was $204 million, up 10 percent year over year (roughly 7 percent when excluding currency fluctuations). Full-year revenue in experiences rose 10 percent to $924 million.

Hotels and Other: Traditional hotel and ancillary services continued to face challenges, with Q4 revenue falling 15 percent to $151 million, and full-year revenue declining 8 percent to $750 million.

TheFork: Tripadvisor’s restaurant reservation platform showed strong growth. Revenue for Q4 2025 reached $57 million, an 18 percent increase year over year, while full-year revenue climbed 22 percent to $221 million.

Strategic moves in 2025 with Viator Merger

In November 2025, Tripadvisor announced plans to merge its experiences brand Viator into the core Tripadvisor operations. This strategic restructuring was designed to simplify the company’s structure, improve profitability, and address pressure from activist investors pushing for greater shareholder value.

Shortly after, Tripadvisor launched a significant workforce reduction, cutting approximately 20 percent of employees across both Tripadvisor and Viator, signaling a major operational shift toward focus on high-performing segments.

Photo by Glenn Carstens-Peters on Unsplash