Despegar Com Stock Price, News & Analysis

Despegar.com, Corp. (NYSE: DESP) has announced the appointment of Ramiro Lauzan to its Board of Directors, effective June 24, 2022. Lauzan, a Partner at L Catterton, will also serve on the Nomination & Compensation and Strategy committees. He replaces Dirk Donath, who resigned but will continue as an observer. Lauzan brings extensive experience from McKinsey & Company and is fluent in multiple languages. Despegar continues to lead the online travel market in Latin America, serving over 29 million customers across 20 countries.

Despegar.com (NYSE: DESP) has announced a new $40 million share repurchase program approved by its Board of Directors on June 13, 2022. The program, effective June 14, 2022 and expiring on August 12, 2022, enables various methods for repurchasing shares, including trading plans in accordance with Rule 10b5-1. The timing and volume of repurchases will depend on market conditions and other factors. Despegar, a leader in Latin America's online travel sector, aims to enhance shareholder value through this initiative.

Despegar.com (NYSE: DESP) has completed its acquisition of 100% of TVLX Viagens e Turismo S.A (Viajanet), a leading online travel agency in Brazil, for approximately US$15.5 million. Payment breakdown includes 17% upon closing, with further payments scheduled for July 2022 (43%), June 2024 (20%), and June 2025 (20%), subject to adjustments. This acquisition aims to strengthen Despegar's position in the Latin American online travel market and enhance service offerings for over 29 million customers.

Despegar.com (NYSE: DESP) reported strong financial results for 1Q22, with Gross Bookings reaching $803.9 million, a 118% YoY increase, recovering to 69% of pre-pandemic levels. Revenues climbed 117% YoY to $112.4 million. The company achieved positive Adjusted EBITDA of $6.8 million, up from a loss of $20 million in 1Q21. Notably, the company generated $29.2 million in cash from operations. Despegar announced the acquisition of Brazil's Viajanet, aiming to expand its market share and product offerings.

Despegar.com, Corp. (NYSE: DESP), the largest online travel company in Latin America, will announce its First Quarter 2022 results on May 19, 2022, prior to market opening. A conference call is scheduled for the same day at 10:00 AM ET. The company is currently in a quiet period from May 9 through May 19. Despegar serves over 29 million customers across 20 countries in the region, focusing on enhancing travel experiences through innovative technology and alternative payment methods.

Despegar.com, Corp. (NYSE: DESP) has announced its acquisition of Viajanet, a leading Brazilian online travel agency, for approximately US$15 million. The transaction involves a structured payment plan: 60% at closing, 20% in 24 months, and the final 20% in 36 months. Viajanet reported revenues of about US$30 million in 2019, with 98% of sales from online channels. This acquisition is part of Despegar's strategy to enhance its presence in Brazil, leveraging Viajanet's customer base to cross-sell products and improve operational efficiencies. Closing is expected in Q2 2022.

Despegar.com, Corp. (NYSE: DESP), the top online travel company in Latin America, announced the filing of its Annual Report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 29, 2022. The report includes the company's audited financial statements, which are accessible on the SEC's website. Despegar has over 29 million customers and operates in 20 countries, focusing on enhancing travel experiences through innovative technology and alternative payment methods.

Despegar.com, Corp. (NYSE: DESP), the top online travel company in Latin America, will participate in investor conferences in May 2022. Key events include the ITAU 15th Annual Latin American Executive Conference in New York on May 11, featuring CEO Damian Scokin, and the 17th Annual Needham Technology & Media Conference (virtual) on May 19, presented by Investor Relations professional Natalia Nirenberg.

Despegar aims to enhance the travel experience for over 29 million customers across 20 countries.

Despegar.com, Corp. (NYSE: DESP), the leading online travel company in Latin America, will host its Analyst and Investor Day on June 14, 2022, in New York, NY. Presentations will be made by CEO Damián Scokin and CFO Alberto López Gaffney, starting at 2:00 PM, with registration beginning at 1:30 PM. The event is open to equity analysts and institutional investors, with a reception to follow. Pre-registration is required by June 7, 2022. Despegar has been pivotal in the tourism sector, servicing over 29 million customers across 20 countries.