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Segment Reporting and Significant Customer Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting and Significant Customer Information Segment Reporting and Significant Customer Information
The Company determines its reportable segments based upon the chief operating decision maker’s management of the business. During 2023, the Company had four reportable operating segments: Travelzoo North America, Travelzoo Europe, Jack’s Flight Club and New Initiatives. Travelzoo North America consists of the Company’s operations in the U.S. and Canada. Travelzoo Europe consists of the Company’s operations in France, Germany, Spain and the U.K. Jack’s Flight Club consists of subscription revenues from premium members to access and receive flight deals from Jack’s Flight Club via email or mobile applications. New Initiatives consists of Travelzoo’s licensing activities in certain Asia Pacific territories, the Travelzoo META subscription service and MTE.
In 2022, the Company managed its business and operated in three reportable segments, including Travelzoo North America, Travelzoo Europe and Jack’s Flight Club. Following the acquisition of MTE in December 2022 and the development and announcement of Travelzoo META, the Company’s chief operating decision maker evaluated New Initiatives as an additional reportable segment beginning in 2023. Accordingly, segment operating results reported below for the year ended December 31, 2022 have been restated in accordance with GAAP under the FASB’s Segment Reporting (Topic 280). Specifically, the 2022 Travelzoo North America segment financial information was adjusted to exclude results related to the 2022 New Initiatives segment, which is now presented separately.
For the year ended December 31, 2023, Travelzoo North America operations comprised 66% of revenues, Travelzoo Europe operations comprised 29% of revenues and Jack's Flight Club comprised 5% of revenues.
Management relies on an internal management reporting process that provides revenue and segment operating profit (loss) for making financial decisions and allocating resources. Management believes that segment revenues and operating profit (loss) are appropriate measures of evaluating the operational performance of the Company’s segments. As noted above, the reported financial information for 2022 has been reclassified to conform to the current segment presentation.
The following is a summary of operating results and assets by business segment (in thousands):
Year Ended December 31, 2023Travelzoo North AmericaTravelzoo EuropeJack's Flight ClubNew InitiativesConsolidated
Revenues from unaffiliated customers$54,837 $25,291 $4,145 $204 $84,477 
Intersegment revenues1,243 (1,270)27 — — 
Total net revenues$56,080 $24,021 $4,172 $204 $84,477 
Operating income (loss)$15,254 $1,317 $(23)$(976)$15,572 
  
Year Ended December 31, 2022Travelzoo North AmericaTravelzoo EuropeJack's Flight ClubNew InitiativesConsolidated
Revenues from unaffiliated customers$47,029 $20,068 $3,477 $25 $70,599 
Intersegment revenues613 (613)— — — 
Total net revenues$47,642 $19,455 $3,477 $25 $70,599 
Operating income (loss)$10,348 $(1,803)$— $(988)$7,557 
As of December 31, 2023Travelzoo North AmericaTravelzoo EuropeJack's Flight ClubNew InitiativesEliminationConsolidated
Long-lived assets$152 $106 $— $320 $— $578 
Total assets$96,865 $22,655 $19,472 $3,570 $(87,181)$55,381 
 
As of December 31, 2022Travelzoo North AmericaTravelzoo EuropeJack's Flight ClubNew InitiativesEliminationConsolidated
Long-lived assets$357 $86 $— $214 $— $657 
Total assets$97,960 $19,253 $18,737 $336 $(69,023)$67,263 
Revenues for each segment are recognized based on customer locations within a designated geographic region. Property and equipment are attributed to the geographic region in which the assets are located.
For the years ended December 31, 2023 and 2022, the Company did not have any customers that accounted for 10% or more of revenue. As of December 31, 2023 and 2022, the Company did not have any customers that accounted for 10% or more of accounts receivable.
The following table sets forth the breakdown of revenues (in thousands) by category and segment. Travel revenue includes travel publications (such as Top 20 newsletter, Standalone newsletters, Travelzoo website, Travelzoo Network), Getaways vouchers, hotel platform and vacation packages. Local revenue includes Local Deals vouchers and entertainment offers.
Year Ended December 31,
 20232022
Travelzoo North America
Travel$53,448 $44,446 
Local2,632 3,196 
Total Travelzoo North America revenues56,080 47,642 
Travelzoo Europe
Travel22,415 18,053 
Local1,606 1,402 
Total Travelzoo Europe revenues24,021 19,455 
Jack's Flight Club4,172 3,477 
New Initiatives204 25 
Consolidated
Travel75,863 62,499 
Local4,238 4,598 
Jack's Flight Club4,172 3,477 
New Initiatives204 25 
Total revenues$84,477 $70,599 
Revenue by geography is based on the billing address of the advertiser. Long-lived assets attributed to the U.S. and international geographies are based upon the country in which the asset is located or owned.
The following table sets forth revenues for individual countries that comprised 10% or more of total revenue (in thousands):
Year Ended December 31,
 20232022
Revenue
United States $50,891 $43,151 
United Kingdom19,486 15,795 
Rest of the world14,100 11,653 
Total revenues$84,477 $70,599 
The following table sets forth long-lived assets by geographic area (in thousands):
 
 December 31,
 20232022
United States $115 $274 
Rest of the world 463 383 
Total long-lived assets$578 $657