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SEC Filings

20-F
TRIVAGO N.V. filed this Form 20-F on 03/06/2018
Entire Document
 



Colombia, Ecuador, Mexico, Peru, the United States and Uruguay. Our Developed Europe segment is comprised of Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. Our Rest of World segment represents all regions outside of the Americas and Developed Europe. The top countries by revenue in the Rest of World segment include Australia, Japan, India, New Zealand and Hong Kong.
We determined our operating segments based on how our chief operating decision makers manage our business, make operating decisions and evaluate operating performance. Our primary operating metric is Return on Advertising Spend, or ROAS, for each of our segments, which compares referral revenue to advertising spend. ROAS includes the allocation of revenue by segment which is based on the location of the website, or domain name, regardless of where the consumer resides. This is consistent with how management monitors and runs the business.
Corporate and Eliminations also includes all corporate functions and expenses except for direct advertising. In addition, we record amortization of intangible assets and any related impairment, as well as share-based compensation expense, restructuring and related reorganization charges, legal reserves, occupancy tax and other taxes, and other items excluded from segment operating performance in Corporate and Eliminations. Such amounts are detailed in our segment reconciliation below.
The following tables present our segment information for the years ended December 31, 2015, 2016 and 2017. As a significant portion of our property and equipment is not allocated to our operating segments and depreciation is not included in our segment measure, we do not report the assets by segment as it would not be meaningful. We do not regularly provide such information to our chief operating decision makers.
  
 
Year Ended December 31, 2015
(in thousands)
 
Developed Europe
 
Americas
 
Rest of World
 
Corporate & Eliminations
 
Total
Referral revenue
 
259,568

 
171,910

 
58,762

 

 
490,240

Other revenue
 

 

 

 
2,843

 
2,843

Total revenue
 
259,568

 
171,910

 
58,762

 
2,843

 
493,083

Advertising spend
 
194,886

 
169,415

 
67,872

 

 
432,173

ROAS contribution
 
64,682

 
2,495

 
(9,110
)
 
2,843

 
60,910

Costs and expenses:
 


 


 


 


 


Cost of revenue, including related party, excluding amortization
 


 


 


 


 
2,946

Other selling and marketing(1) 
 


 


 


 


 
29,046

Technology and content
 


 


 


 


 
28,693

General and administrative, including related party shared service fee
 


 


 


 


 
18,065

Amortization of intangible assets
 


 


 


 


 
30,030

Operating income (loss)
 


 


 


 


 
(47,870
)
Other income (expense)
 


 


 


 


 


Interest expense
 


 


 


 


 
(147
)
Other, net
 


 


 


 


 
(2,667
)
Total other income (expense), net
 


 


 


 


 
(2,814
)
Income (loss) before income taxes
 


 


 


 


 
(50,684
)
Provision for income taxes
 


 


 


 


 
(11,318
)
Net loss
 


 


 


 


 
(39,366
)

(1) Represents all other sales and marketing, excluding advertising spend, as advertising spend is tracked by reporting segment.

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