Despegar.com, Corp. - DESP STOCK NEWS

Despegar.com, Corp. (NYSE: DESP) has announced its acquisition of Viajanet, a leading Brazilian online travel agency, for approximately US$15 million. The transaction involves a structured payment plan: 60% at closing, 20% in 24 months, and the final 20% in 36 months. Viajanet reported revenues of about US$30 million in 2019, with 98% of sales from online channels. This acquisition is part of Despegar's strategy to enhance its presence in Brazil, leveraging Viajanet's customer base to cross-sell products and improve operational efficiencies. Closing is expected in Q2 2022.

Despegar.com, Corp. (NYSE: DESP), the top online travel company in Latin America, announced the filing of its Annual Report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 29, 2022. The report includes the company's audited financial statements, which are accessible on the SEC's website. Despegar has over 29 million customers and operates in 20 countries, focusing on enhancing travel experiences through innovative technology and alternative payment methods.

Despegar.com, Corp. (NYSE: DESP), the top online travel company in Latin America, will participate in investor conferences in May 2022. Key events include the ITAU 15th Annual Latin American Executive Conference in New York on May 11, featuring CEO Damian Scokin, and the 17th Annual Needham Technology & Media Conference (virtual) on May 19, presented by Investor Relations professional Natalia Nirenberg.

Despegar aims to enhance the travel experience for over 29 million customers across 20 countries.

Despegar.com, Corp. (NYSE: DESP), the leading online travel company in Latin America, will host its Analyst and Investor Day on June 14, 2022, in New York, NY. Presentations will be made by CEO Damián Scokin and CFO Alberto López Gaffney, starting at 2:00 PM, with registration beginning at 1:30 PM. The event is open to equity analysts and institutional investors, with a reception to follow. Pre-registration is required by June 7, 2022. Despegar has been pivotal in the tourism sector, servicing over 29 million customers across 20 countries.

Despegar.com reported strong fourth quarter 2021 results, with Gross Bookings up 46% quarter-over-quarter to $958.8 million, reaching 75% of pre-pandemic levels. Revenues rose 49% QoQ to $124.6 million, equating to 86% of 4Q19 figures. The company achieved an Adjusted EBITDA of $9.0 million, a 9% increase from 4Q19, despite lower Gross Bookings. Notably, the loyalty program membership nearly tripled, totaling 2.8 million. Despegar also announced the acquisition of a 51% stake in Stays for approximately $3.1 million, enhancing its position in Brazil's vacation rental market.

Despegar.com, Corp. (NYSE: DESP), the top online travel platform in Latin America, is set to report its Fourth Quarter 2021 results on March 10, 2022, before market opens. A conference call will follow at 8:00 a.m. ET. The company is entering a quiet period starting March 2 through March 10. Despegar offers a wide range of travel services, serving over 18 million customers across 20 countries, featuring products from over 270 airlines and 690,000 accommodations.

Despegar.com, Corp. (NYSE: DESP) reported significant financial recovery in 3Q21, with Gross Bookings rising 34% quarter-over-quarter to $657.3 million, reflecting a 298% year-over-year increase. However, bookings remain 44% below pre-pandemic levels of 3Q19. Revenues reached $83.4 million, up 32% QoQ but down 37% YoY. Adjusted EBITDA loss narrowed to $10.3 million, the best performance since 2Q20. The company also launched a loyalty program milestone and a co-branded credit card in Mexico, anticipating stronger domestic travel amid easing COVID-19 restrictions.

Despegar.com (NYSE: DESP), Latin America's leading online travel company, is set to release its Third Quarter 2021 earnings on November 17, 2021, before market open. The accompanying conference call will occur at 8:00 a.m. ET. A quiet period will be in effect from November 3 to November 17, 2021. Despegar operates in 20 countries, offering services to over 18 million customers, featuring products from more than 270 airlines and 690,000 accommodations.

Despegar.com, Corp. (NYSE: DESP) reported 2Q21 financial results, highlighting a 32% QoQ increase in Gross Bookings to $488.9 million and a staggering 899% YoY rise. Revenues reached $63.1 million, up 22% QoQ, rebounding from a negative $9.7 million in 2Q20. Adjusted EBITDA losses narrowed to $22.3 million, compared to $57.4 million in 2Q20. Mobile transactions accounted for 45% of total, a 4 percentage point increase from 2Q19. The company launched a loyalty program in Mexico in July 2021, aiming to capitalize on increasing travel demand, especially in Mexico and Colombia.