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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 8,491 $ 17,064
Accounts receivable, less allowance for doubtful accounts of $1,635 and $1,612 as of September 30, 2025 and December 31, 2024, respectively 12,460 12,825
Prepaid income taxes 654 736
Income taxes receivable 887 0
Prepaid expenses and other 1,931 1,148
Total current assets 24,423 31,773
Deposits and other 302 374
Deferred tax assets 3,469 3,380
Restricted cash 756 675
Operating lease right-of-use assets 4,540 5,655
Property and equipment, net 278 423
Intangible assets, net 1,452 1,498
Goodwill 10,944 10,944
Total assets 46,164 54,722
Current liabilities:    
Accounts payable 8,405 6,162
Merchant payables 11,767 16,294
Accrued expenses and other 4,557 3,404
Deferred revenue 9,060 6,545
Income tax payable 0 1,619
Operating lease liabilities 2,058 2,472
Total current liabilities 35,847 36,496
Long-term tax liabilities 8,906 7,851
Long-term operating lease liabilities 4,494 5,646
Other long-term liabilities 0 376
Total liabilities 49,247 50,369
Stockholders’ equity (deficit):    
Preferred stock, $0.01 par value per share ( 5,000 shares authorized; none issued) Common stock, $0.01 par value (20,000 shares authorized; 10,932 shares issued and outstanding as of September 30, 2025, 11,836 shares issued and outstanding as of December 31, 2024) 109 118
Additional paid in capital 0 0
Tax indemnification (9,537) (9,537)
Retained earnings 6,925 14,284
Accumulated other comprehensive loss (5,596) (5,327)
Total Travelzoo stockholders’ equity (deficit) (8,099) (462)
Non-controlling interest 5,016 4,815
Total stockholders’ equity (deficit) (3,083) 4,353
Total liabilities and stockholders’ equity (deficit) $ 46,164 $ 54,722