Expedia Group, Inc. (EXPE) 10-Q Quarterly Report May 2022

“As we have seen many times during Covid, this quarter was a tale of two stories. There was early impact from Omicron leftover from late last year, which faded as the turnaround in demand reached new highs since the start of Covid. While the war in Ukraine did slow some of the recovery in Europe, there too we see travel at new highs since the start of the pandemic. All in, while we are keeping an eye on various macro indicators including inflation and ongoing geopolitical tensions, we continue to see positive indicators for a strong recovery in leisure travel this summer. We are also pleased to see city, business, and international travel coming back, three components key to the complete return of travel,” said Peter Kern, Vice Chairman and CEO, Expedia Group. “This year is on track to be a big year of delivery for us with new product, marketplace, and platform innovation. We are excited to introduce much of this to the industry at our EXPLORE 22 conference later this week in Las Vegas.”

Key Highlights

•For the first quarter 2022, total gross bookings were $24.4 billion, up 58% compared to the first quarter 2021 and down 17% compared to the first quarter 2019, the smallest quarterly decline since the start of the pandemic.

•For the first quarter 2022, net loss was $122 million and adjusted net loss was $74 million. Adjusted EBITDA was $173 million, roughly flat versus the first quarter 2019, despite revenue being down 14%.

•On April 14th, Expedia Group entered into a new $2.5 billion unsecured credit facility, which provides $500 million in additional liquidity compared to the prior credit facilities. Additionally, on March 3rd, Expedia Group completed the early redemption of its €650 million Senior Notes that were due June 2022.

Financial Summary & Operating Metrics ($ millions except per share amounts)(1)



	Expedia Group, Inc.
Metric	Q1 2022	Q1 2021	Δ Y/Y
Stayed room night growth	52%	(47)%	NM
Gross bookings	$24,412	$15,422	58%
Revenue	2,249	1,246	81%
Operating income (loss)	(135)	(369)	(63)%
Net income (loss) attributable to Expedia Group common stockholders	(122)	(606)	(80)%
Diluted earnings (loss) per share	$(0.78)	$(4.17)	(81)%
Adjusted EBITDA(2)	173	(58)	NM
Adjusted net income (loss)(2)	(74)	(294)	(75)%
Adjusted EPS(2)	$(0.47)	$(2.02)	(77)%
Free cash flow(2)	2,835	2,002	42%

(1)All comparisons are against comparable period of 2021 unless otherwise noted.

(2)"Adjusted EBITDA" (Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization), "Adjusted net income (loss)," "Adjusted EPS" and "Free cash flow" are non-GAAP measures as defined by the Securities and Exchange Commission (the "SEC"). See "Definitions of Non-GAAP Measures" and "Tabular Reconciliations for Non-GAAP Measures" on pages 11-19 herein for an explanation and reconciliation of non-GAAP measures used throughout this release. Expedia Group does not calculate or report net income by segment.

Please refer to the "Glossary of Business Terms," located in the Quarterly Results section on Expedia Group’s investor relations website, for business and financial statement definitions used throughout this release

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The following information was filed by Expedia Group, Inc. (EXPE) on Monday, May 2, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Expedia Group, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 22: Published Report Regarding Matters Submitted To Vote Of Security Holders

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.3: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 32.3: Section 1350 Certification

Ticker: EXPE
CIK: 1324424
Form Type: 10-Q Quarterly Report
Accession Number: 0001324424-22-000023
Submitted to the SEC: Mon May 02 2022 5:34:14 PM EST
Accepted by the SEC: Tue May 03 2022
Period: Thursday, March 31, 2022
Industry: Transportation Services

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Expedia Group, Inc. (EXPE) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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