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Acquisitions | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Acquisitions | Acquisitions Stock Purchase Agreement (“SPA”) between Travelzoo and Azzurro In connection with the acquisition of Metaverse Travel Experiences, LLC (“MTE”), formerly a wholly-owned subsidiary of Azzurro, the Company completed a private placement of newly issued shares with Azzurro. Ralph Bartel, who founded the Company, is the sole beneficiary of the Ralph Bartel 2005 Trust, which is the controlling shareholder of Azzurro. Azzurro was the Company’s largest shareholder at the time of the MTE acquisition and, as of December 31, 2022, Azzurro and Ralph Bartel, in his individual capacity, owned approximately 50.3% of the Company’s outstanding shares. On December 28, 2022, the Company's stockholders approved the issuance and sale of 3.4 million shares of common stock of Travelzoo (the “Shares”) to Azzurro, in exchange for certain consideration, and on December 30, 2022 (the “Closing Date”), the transaction was consummated. The closing price of Travelzoo’s common stock on December 30, 2022 was $4.45 per share, resulting in an aggregate fair value of the Shares of $15.2 million. The consideration for the Shares consisted of cash paid on the Closing Date; a promissory note, which was repaid in full during 2024; and the transfer to the Company of all outstanding capital stock of MTE, which was effected pursuant to a merger of MTE with a wholly-owned subsidiary of the Company on the Closing Date. Intangible Assets The following table represents the fair value and estimated useful lives of intangible assets from acquisitions (in thousands):
| Fair Value |  | Estimated Life (Years)
Customer relationships (Jack’s Flight Club) | $ | 3,500 |  |  | 5.0
Trade name (Jack’s Flight Club) | 2,460 |  |  | indefinite
Secret Escapes Spain member database | 445 |  |  | 3.0
Assets Measured at Fair Value on a Non-recurring Basis The Company’s non-financial assets, such as goodwill, intangible assets and property and equipment, are adjusted to fair value if an impairment is recognized during the period. The fair value measurements are based on Level 3 inputs which are unobservable inputs based on management assumptions used to measure assets at fair value. The goodwill assessment was performed by comparing the fair value of the reporting units to their carrying value. The fair value estimates for the reporting units were based on a blended analysis of the present value of future discounted cash flows and the market value approach, using Level 3 inputs. The indefinite-lived intangible assets assessment was performed using the relief-from-royalty method, which includes unobservable inputs, classified as Level 3, including projected revenues and approximately 5% royalty rate. The Company performed an annual impairment test as of October 31, 2024 and did not identify any indicators of impairment for the year ended December 31, 2024. Amortization of Acquired Intangible Assets The following table represents the activities of intangible assets for the three months ended June 30, 2025 and 2024 (in thousands):
| Jack’s Flight Club |  | Secret Escape Spain |  |
Intangible assets—December 31, 2023 | 1,710 |  |  | 186 |  |  |
Amortization of intangible assets with definite lives | (75) |  |  | (48) |  |  |
Intangible assets—March 31, 2024 | 1,635 |  |  | 138 |  |  |
Amortization of intangible assets with definite lives | (59) |  |  | (28) |  |  |
Intangible assets—June 30, 2024 | 1,576 |  |  | 110 |  |  |
Amortization of intangible assets with definite lives | (58) |  |  | (37) |  |  |
Intangible assets—September 30, 2024 | 1,518 |  |  | 73 |  |  |
Amortization of intangible assets with definite lives | (58) |  |  | (35) |  |  |
Intangible assets—December 31, 2024 | 1,460 |  |  | 38 |  |  |
Amortization of intangible assets with definite lives | (3) |  |  | (24) |  |  |
Intangible assets—March 31, 2025 | 1,457 |  |  | 14 |  |  |
Amortization of intangible assets with definite lives | (2) |  |  | (14) |  |  |
Intangible assets—June 30, 2025 | $ | 1,455 |  |  | $ | — |  |  |
Amortization expense for acquired intangibles was $16,000 and $87,000 for the three months ended June 30, 2025 and 2024, respectively. Amortization expense for acquired intangibles was $43,000 and $405,000 for the six months ended June 30, 2024 and 2023, respectively. Expected future amortization expense of acquired intangible assets as of June 30, 2025 is as follows (in thousands):
Years ending December 31, |
2025 | 5 |
| $ | 5 |
The Company performed its annual impairment testing of the Jack's Flight Club trade name as of October 31, 2024 using a relief from royalty method. No impairment was identified in 2024. As of June 30, 2025, the carrying value of the trade name was $1.5 million. The Company did not identify any indicators of impairment during the six months ended June 30, 2025.

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