Despegar.com Raises 2023 Financial Guidance

Rhea-AI Summary

Despegar.com, Corp. (NYSE: DESP) raises full-year 2023 financial guidance with Adjusted EBITDA projected at $105-110 million and revenue at $690-700 million. CEO Damian Scokin attributes this to the company's market position, technology platform, commercial execution, and operational efficiencies.

Positive

• Despegar raises its full-year 2023 financial guidance, indicating positive growth and profitability in the foreseeable future.

Negative

• None.

BRITISH VIRGIN ISLANDS--(BUSINESS WIRE)-- Despegar.com, Corp. (NYSE: DESP) (“Despegar” or the “Company”), Latin America’s leading travel technology company, today announced that it is raising its full-year 2023 financial guidance as follows:

• Adjusted EBITDA: $105 million to $110 million, vs. $90 million to $100 million before
• Revenue: $690 million to $700 million, vs. $670 million to $700 million before

Damian Scokin, Despegar’s CEO, said: “Despegar’s market leading position and best-in-class technology platform, coupled with our strong commercial execution, enable us to fully exploit travel demand which remains robust across our markets. In addition, we continue driving strong operational efficiencies. Accordingly, we are raising our 2023 Adjusted EBITDA guidance range, and raising the lower end of our 2023 revenue guidance range. Further, we expect to maintain above-market revenue growth and continue generating operational efficiencies in the foreseeable future, as our profitable growth strategy gains additional traction.”

About Despegar.com

Despegar is the leading travel technology company in Latin America. For over two decades, it has revolutionized the tourism industry in the region through technology. With its continuous commitment to the development of the sector, Despegar today is comprised of a consolidated group that includes Despegar, Decolar, Best Day, Viajes Falabella, Viajanet Stays and Koin, and has become one of the largest travel companies in Latin America.

Despegar operates in 20 countries in the region, accompanying Latin Americans from the moment they dream of traveling until they share their memories. With the purpose of improving people's lives and transforming the shopping experience, Despegar has developed alternative payment and financing methods, democratizing the access to consumption and bringing Latin Americans closer to their next travel experience Despegar’s common shares are traded on the New York Stock Exchange (NYSE: DESP). For more information, please visit https://investor.despegar.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We base these forward-looking statements on our current beliefs, expectations and projections about future events and trends affecting our business and our market. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. The words “believe,” “may,” “should,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “will,” “expect” and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, capital expenditures, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Considering these limitations, you should not make any investment decision in reliance on forward-looking statements contained in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231212593542/en/

Investor Relations

Despegar.com, Corp.

Luca Pfeifer, (+57) 315 382 4802

investorrelations@despegar.com

Source: Despegar.com, Corp.

FAQ

What is Despegar.com, Corp.'s (NYSE: DESP) full-year 2023 financial guidance?

Despegar.com, Corp. (NYSE: DESP) raises its full-year 2023 financial guidance with Adjusted EBITDA projected at $105-110 million and revenue at $690-700 million.

What factors contribute to Despegar.com, Corp.'s raised financial guidance?

CEO Damian Scokin attributes the raised financial guidance to the company's market leading position, best-in-class technology platform, strong commercial execution, and strong operational efficiencies.

What does Despegar.com, Corp.'s CEO expect for the company's future growth and operational efficiencies?

CEO Damian Scokin expects the company to maintain above-market revenue growth and continue generating operational efficiencies in the foreseeable future as their profitable growth strategy gains additional traction.