Exceeding Guidance and Growth in Billings
Q1 results exceeded guidance on billings and adjusted EBITDA, with global billings growing 1.4% year-over-year. North America Local billings accelerated to 11% year-over-year growth, the first double-digit growth since 2017, excluding the pandemic recovery period.
Strong Performance in North America Local
Top 10 cities in North America saw double-digit growth in billings. The Things to Do segment grew billings double digits for the 5th straight quarter, significantly outpacing current industry trends.
Impressive International Growth
International local business (excluding Italy) showed a 5% year-over-year billings growth. Spain led the international markets with strong double-digit growth, showcasing the success of the transformation strategy.
Strategic Leadership and Team Strengthening
Key appointments were made with Josef Buryan as Chief Marketing Officer, Ales Drabek as Chief Technology Officer, Barbara Weisz as Chief Revenue Officer, Filip Popovic as Chief Commercial Officer, and Marie Havlickova as Chief Product Officer.
Raised Guidance for Core Business
Despite the sale of the Giftcloud subsidiary, which removed $6 million in revenue and $4 million in adjusted EBITDA, the company raised its guidance for the core business, demonstrating confidence in their operations.