Despegar.com, Corp. - DESP STOCK NEWS

Despegar.com (NYSE: DESP) reported strong Q3 2024 financial results with record profitability. Adjusted EBITDA increased 94% YoY to $48.0 million, with margins reaching a historic high of 24.8%. Revenues grew 9% YoY to $193.9 million, while FX-neutral revenues rose 53% YoY. The company achieved a record Take Rate of 14.6% and saw B2B Gross Bookings increase 23% YoY. App transactions reached 50.5% of total transactions, and loyalty program members grew 51% YoY to 30 million. Despegar raised its FY2024 Adjusted EBITDA guidance to at least $170 million while maintaining revenue guidance of at least $760 million.

Despegar.com (NYSE: DESP), Latin America's leading travel technology company, has scheduled its Third Quarter 2024 financial results announcement for Thursday, November 14, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time on the same day. Participants can join via phone using the provided U.S. domestic and International dial-in numbers, or through the webcast link. Pre-registration is available for immediate access to the call.

Despegar (NYSE: DESP) announces its first Software as a Service (SaaS) partnership with Karisma Hotels & Resorts, licensing its AI Travel Assistant, Sofia. This collaboration will enhance Karisma's existing chatbot functionalities, offering personalized assistance to guests. The partnership represents Despegar's strategic expansion into SaaS offerings, positioning the company to tap into new revenue streams while strengthening its B2B partnerships. By integrating Sofia, Karisma aims to improve customer travel planning and booking experiences, setting new standards for digital engagement in hospitality.

Despegar.com, Corp. (NYSE: DESP), Latin America's leading travel technology company, and Nubank (NYSE: NU), the largest digital banking platform outside Asia, have announced the integration of NuPay as a new payment option on Despegar's travel platform. This strategic collaboration offers multiple benefits:

• Despegar gains access to Nubank's 95.5 million Brazilian customers
• Nubank's customers get access to Despegar's travel services with increased spending limits and enhanced purchasing power
• The partnership aims to create a more streamlined payment process, potentially boosting Despegar's conversion rates
• Both companies can capitalize on their strengths, delivering enhanced value to customers and opening new opportunities

This integration combines Nubank's extensive customer base with Despegar's travel services, aiming to improve the overall user experience.

Despegar.com (NYSE: DESP) reported strong Q2 2024 financial results, with Adjusted EBITDA up 22% YoY to $36.7 million and revenues increasing 12% YoY to $185.0 million. The company's focus on profitable growth is evident in its strong Take Rate of 13.8%. Gross Bookings increased 4% YoY to $1.3 billion, impacted by FX headwinds, but grew 37% YoY on an FX-neutral basis. Adjusted Net Income surged 397% YoY to $30.2 million.

Despegar raised its FY2024 Adjusted EBITDA guidance to at least $160 million, representing at least 39% YoY growth. However, due to FX volatility and the divestment of its DMC business, the company updated its annual revenue guidance from at least $820 million to at least $760 million.

Despegar.com (NYSE: DESP), Latin America's leading travel technology company, has announced a strategic alliance with World2Meet, the travel division of Iberostar Group. As part of this alliance, World2Meet has acquired Despegar's Destination Management Company (DMC) BDExperience, effective August 1, 2024. World2Meet will now operate as a preferred partner for Despegar in providing destination services in Mexico and the Dominican Republic.

This divestiture aligns with Despegar's focus on key long-term growth strategies, improving operational efficiency, and maximizing return on capital. It allows the company to concentrate resources on its core business and strengthen its organic growth profile. BDExperience, with over 30 years of experience in the travel industry, specializes in airport transfers, tours, and personalized tourist assistance. The transaction will result in the transfer of nearly 600 BDExperience employees from Despegar to World2Meet.

Despegar.com (NYSE: DESP), Latin America's leading travel technology company, has announced it will report its Second Quarter 2024 financial results on Thursday, August 15, 2024, after the market close. The company will host a conference call on the same day at 4:30 p.m. Eastern Time to discuss the results.

Investors and analysts can participate in the conference call by dialing +1 800 715 9871 (U.S. domestic) or +1 646 307 1963 (International). Pre-registration is available for immediate access to the call. A webcast of the conference call will also be available, with a replay option provided.

Despegar (NYSE: DESP), Latin America's leading travel technology company, has been added to the Russell 2000 and Russell 3000 indexes, effective July 1, 2024. CEO Damian Scokin highlighted that inclusion in these indexes validates Despegar's growth and capital allocation strategies. The Russell 3000 Index includes the 3,000 largest U.S. traded stocks, serving as an important benchmark for investment managers and institutional investors. Approximately $9.1 trillion in assets are benchmarked against Russell's U.S. indexes, making this inclusion a significant milestone for Despegar.

Despegar, Latin America's leading travel technology company, published its 2023 ESG report, showcasing significant progress in environmental, social, and governance areas. By migrating to Amazon's AWS cloud, Despegar aims to reduce its computing carbon footprint by 80% starting in 2025. The company is enhancing its sustainable travel options and increasing investments in community programs that support local economies and promote community-beneficial tourism. For employee welfare, new policies include flexible work arrangements and expanded health programs. Governance improvements focus on transparency and accountability, with new compliance measures and stakeholder engagement initiatives. The full report is available at their investor site.