Despegar reports record adjusted EBITDA amid FX headwinds By Investing.com

Despegar.com Corp. (NYSE: NYSE:), a leading online travel agency in Latin America, reported its third-quarter 2024 financial results with a mix of robust growth and market challenges. Despite a slight decrease in gross bookings to $1.3 billion due to foreign exchange fluctuations, particularly in Brazil and Mexico, the company’s adjusted EBITDA surged 94% to a record $48 million.

Adjusted net income saw a significant increase of 309% to $36 million, with adjusted earnings per share reaching $0.34. Total (EPA:) revenues rose by 9% year-over-year to $194 million, driven by a strong performance in non-air segments and strategic B2B growth.

Key Takeaways

• Gross bookings declined slightly to $1.3 billion due to FX headwinds, but grew 35% in constant currency.
• Adjusted EBITDA and adjusted net income hit new records at $48 million and $36 million, respectively.
• Non-air revenues contributed significantly, comprising 62% of total revenues.
• The B2C segment saw a decrease in gross bookings,…