Unaudited Quarterly Information

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

The following represents unaudited quarterly financial data for 2020 and 2019 (in thousands, except per share amounts):


	Quarters Ended
	Dec. 31, 2020		Sep. 30, 2020		Jun. 30, 2020		Mar. 31, 2020
Revenues	$	12,483	$	13,787	$	7,004	$	20,327
Cost of revenues	2,795		2,924		2,141		2,703
Gross profit	9,688		10,863		4,863		17,624
Operating expenses:
Sales and marketing	6,305		6,929		4,288		13,094
Product development	495		592		566		1,428
General and administrative	3,785		4,545		6,642		5,522
Impairment of intangible asset and goodwill	—		—		—		2,920
Total operating expenses	10,585		12,066		11,496		22,964
Operating loss	(897)		(1,203)		(6,633)		(5,340)
Other income (loss), net	677		(37)		(179)		(6)
Loss from continuing operations before income taxes	(220)		(1,240)		(6,812)		(5,346)
Income tax benefit	(368)		(244)		(1,309)		(517)
Income (loss) from continuing operations	148		(996)		(5,503)		(4,829)
Income (loss) from discontinued operations, net of tax	554		(230)		(795)		(2,919)
Net income (loss)	702		(1,226)		(6,298)		(7,748)
Net income (loss) attributable to non-controlling interest	(25)		125		(108)		(1,139)
Net income (loss) attributable to Travelzoo	$	727	$	(1,351)	$	(6,190)	$	(6,609)

Net income (loss) attributable to Travelzoo—continuing operations	$	173	$	(1,121)	$	(5,395)	$	(3,690)
Net income (loss) attributable to Travelzoo—discontinued operations	$	554	$	(230)	$	(795)	$	(2,919)

Income (loss) per share—basic
Continuing operations	$	0.02	$	(0.10)	$	(0.48)	$	(0.32)
Discontinued operations	$	0.05	$	(0.02)	$	(0.07)	$	(0.26)
Net income (loss) per share—basic	$	0.06	$	(0.12)	$	(0.55)	$	(0.58)

Income (loss) per share—diluted
Continuing operations	$	0.01	$	(0.10)	$	(0.48)	$	(0.32)
Discontinued operations	$	0.04	$	(0.02)	$	(0.07)	$	(0.26)
Net income (loss) per share —diluted	$	0.06	$	(0.12)	$	(0.55)	$	(0.58)


	Quarters Ended
	Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019
Revenues	$	25,326	$	23,833	$	26,606	$	29,160
Cost of revenues	3,046		2,852		2,672		2,865
Gross profit	22,280		20,981		23,934		26,295
Operating expenses:
Sales and marketing	12,737		11,967		13,104		13,534
Product development	1,853		1,434		1,763		1,659
General and administrative	4,764		4,188		4,914		4,532
Total operating expenses	19,354		17,589		19,781		19,725
Operating income	2,926		3,392		4,153		6,570
Other income (loss), net	(90)		32		(29)		45
Income from continuing operations before income taxes	2,836		3,424		4,124		6,615
Income tax expense	1,116		860		1,066		1,670
Income from continuing operations	1,720		2,564		3,058		4,945
Loss from discontinued operations, net of tax	(2,319)		(2,258)		(1,730)		(1,825)
Net income (loss)	$	(599)	$	306	$	1,328	$	3,120

Net income (loss) attributable to Travelzoo—continuing operations	$	1,720	$	2,564	$	3,058	$	4,945
Net income (loss) attributable to Travelzoo—discontinued operations	$	(2,319)	$	(2,258)	$	(1,730)	$	(1,825)

Income (loss) per share—basic
Continuing operations	$	0.15	$	0.22	$	0.25	$	0.41
Discontinued operations	$	(0.20)	$	(0.19)	$	(0.14)	$	(0.15)
Net income (loss) per share—basic	$	(0.05)	$	0.03	$	0.11	$	0.26

Income (loss) per share—diluted
Continuing operations	$	0.15	$	0.21	$	0.25	$	0.41
Discontinued operations	$	(0.20)	$	(0.19)	$	(0.14)	$	(0.15)
Net income per share —diluted	$	(0.05)	$	0.03	$	0.11	$	0.26