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SEC Filings

20-F
TRIVAGO N.V. filed this Form 20-F on 03/06/2018
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(1)
Includes share-based compensation as follows:
 
Year ended December 31,
(in thousands)
2014
 
 
2015
 
 
2016(a)
 
 
2017
 
Cost of revenue
 

 
 
238

 
 
737

 
 
115

Selling and marketing
 
1,052

 
 
3,360

 
 
10,913

 
 
3,514

Technology and content, net of capitalized internal-use software and website development costs
 
1,207

 
 
4,545

 
 
15,816

 
 
3,614

General and administrative
 
123

 
 
5,986

 
 
26,256

 
 
8,782

(a)
Share-based compensation expense is primarily attributable to liability award accounting treatment for share-based awards granted in prior periods, see Note 10—Share-based awards and other equity instruments in the notes to our consolidated financial statements.
(2)
Includes depreciation and amortization as follows:  
 
Year ended December 31,
(in thousands)
2014
 
 
2015
 
 
2016
 
 
2017
 
Internal use software and website development costs included in technology and content
 
191

 
 
475

 
 
1,410

 
 
1,742

Internal use software included in general and administrative
 

 
 

 
 

 
 
408

Acquired technology included in amortization of intangible assets
 
19,927

 
 
19,927

 
 
3,750

 
 
59

(3)
Includes related party shared service fee as follows:  
 
Year ended December 31,
(in thousands)
2014
 
 
2015
 
 
2016
 
 
2017
 
Cost of revenue
 

 
 

 
 

 
 
50

Selling and marketing
 

 
 

 
 

 
 
2

Technology and content
 

 
 

 
 

 
 
361

General and administrative
 
1,506

 
 
3,015

 
 
5,128

 
 
742

(4)
Represents earnings per share of Class A and Class B common stock and weighted-average shares of Class A and Class B common stock outstanding for the period from December 16, 2016 to December 31, 2016, the period following the capitalization of the parent company and IPO, and for the period from January 1, 2017 to December 31, 2017 (see Note 14).
(5)
We define adjusted EBITDA as net loss plus: (1) expense (benefit) for income taxes; (2) total other income (expense), net; (3) depreciation of property and equipment, including amortization of internal use software and website development; (4) amortization of intangible assets; and (5) share-based compensation.
  
Adjusted EBITDA is a non-GAAP financial measure. A “non-GAAP financial measure” refers to a numerical measure of a company’s historical or future financial performance, financial position, or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in such company’s financial statements. We present this non-GAAP financial measure because it is used by management to evaluate our operating performance, formulate business plans, and make strategic decisions on capital allocation. We also believe that this non-GAAP financial measure provides useful information to investors and others in understanding and evaluating our operating performance and consolidated results of operations in the same manner as our management and in comparing financial results across accounting periods.
  
Our use of adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results reported in accordance with GAAP, including net loss. Some of these limitations are:
Adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;
Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs;
Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; and

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