Despegar.com, Corp. - DESP STOCK NEWS

Despegar.com (NYSE: DESP) reported a 68% YoY increase in gross bookings, reaching $1.1 billion for 3Q22, reflecting strong recovery in Latin America's travel sector. Revenues surged 75% YoY to $145.6 million, exceeding pre-pandemic levels by 10%. Total Adjusted EBITDA improved to $12.0 million, marking the fourth consecutive profitable quarter. Notably, loyalty program membership rose 63% QoQ, now totaling 9.3 million members. Cash reserves stood at $263 million, ensuring strategic growth opportunities. Despite challenges, management remains optimistic about sustained profitability.

Despegar.com, Corp. (NYSE: DESP), a leading online travel company in Latin America, will announce its Third Quarter 2022 results on Thursday, November 17, before the market opens. The conference call is scheduled for the same day at 10:00 a.m. Eastern Time. A quiet period will be observed from November 7 to November 17. Despegar operates in 20 countries, serving over 29 million customers, and has expanded its offerings through partnerships with Best Day, Viajes Falabella, and its fintech subsidiary Koin.

Despegar.com, Corp. (NYSE: DESP), the leading online travel company in Latin America, will participate in Morgan Stanley’s virtual Latin America Conference on September 16, 2022. The Company, represented by CFO Alberto Lopez Gaffney and Head of Investor Relations Luca Pfeifer, aims to showcase its technological innovations that have transformed the travel industry for over two decades. Despegar operates across 20 countries, catering to over 29 million customers and providing various payment options to enhance travel accessibility.

Despegar.com, Corp. (NYSE: DESP) reported strong financial results for 2Q22, with Gross Bookings of $1.1 billion, up 129% YoY, achieving pre-pandemic levels. Revenues rose 113% YoY to $134.4 million, with Adjusted EBITDA of $10.6 million, marking the third consecutive quarter of positive EBITDA. The company completed acquisitions of Viajanet and Stays, enhancing its B2C and B2B offerings. Operating cash flow was $4.2 million. Despite global economic challenges, Despegar anticipates continued recovery in travel demand.

Despegar.com, Corp. (NYSE: DESP) will report its Second Quarter 2022 results on August 18, 2022, before market opening. A conference call is scheduled for the same day at 10:00 a.m. ET. The company is entering a quiet period from July 28 to August 18, 2022. Despegar is a leading online travel company in Latin America, serving over 29 million customers across 20 countries, offering personalized travel services and alternative payment methods.

Despegar.com, Corp. (NYSE: DESP) has announced the appointment of Ramiro Lauzan to its Board of Directors, effective June 24, 2022. Lauzan, a Partner at L Catterton, will also serve on the Nomination & Compensation and Strategy committees. He replaces Dirk Donath, who resigned but will continue as an observer. Lauzan brings extensive experience from McKinsey & Company and is fluent in multiple languages. Despegar continues to lead the online travel market in Latin America, serving over 29 million customers across 20 countries.

Despegar.com (NYSE: DESP) has announced a new $40 million share repurchase program approved by its Board of Directors on June 13, 2022. The program, effective June 14, 2022 and expiring on August 12, 2022, enables various methods for repurchasing shares, including trading plans in accordance with Rule 10b5-1. The timing and volume of repurchases will depend on market conditions and other factors. Despegar, a leader in Latin America's online travel sector, aims to enhance shareholder value through this initiative.

Despegar.com (NYSE: DESP) has completed its acquisition of 100% of TVLX Viagens e Turismo S.A (Viajanet), a leading online travel agency in Brazil, for approximately US$15.5 million. Payment breakdown includes 17% upon closing, with further payments scheduled for July 2022 (43%), June 2024 (20%), and June 2025 (20%), subject to adjustments. This acquisition aims to strengthen Despegar's position in the Latin American online travel market and enhance service offerings for over 29 million customers.

Despegar.com (NYSE: DESP) reported strong financial results for 1Q22, with Gross Bookings reaching $803.9 million, a 118% YoY increase, recovering to 69% of pre-pandemic levels. Revenues climbed 117% YoY to $112.4 million. The company achieved positive Adjusted EBITDA of $6.8 million, up from a loss of $20 million in 1Q21. Notably, the company generated $29.2 million in cash from operations. Despegar announced the acquisition of Brazil's Viajanet, aiming to expand its market share and product offerings.