Travelzoo's SEC filings document its travel-offer publishing and membership model, including reported advertising revenue, commissions generated in connection with member purchases, and membership-fee revenue. Form 8-K reports furnish quarterly financial results, supplemental earnings presentations, and Regulation FD materials tied to operating performance.
Proxy and annual-report materials cover stockholder voting, annual-meeting matters, governance, business activities, and operating performance. The filing record also includes disclosure categories for material agreements, shareholder voting matters, capital structure, governance matters, and operating and financial results.
Travelzoo received an updated ownership report showing that Ocho Investments LLC and its manager, Andris Upitis, now report owning 0 shares of Travelzoo common stock, representing 0.0% of the outstanding class as of the event date 12/31/2025.
The filing confirms they have no sole or shared power to vote or dispose of any Travelzoo shares and that they currently own 5 percent or less of the stock class. They also certify the securities were not acquired to change or influence control of the company.
Travelzoo director and 10% owner Ralph Bartel reported selling a total of 20,000 shares of the company's common stock in December 2025 through Azzurro Capital Inc.
The filing shows a sale of 5,000 shares on 12/11/2025 at $7.09 per share and a sale of 15,000 shares on 12/15/2025 at $7.56 per share, with those shares on 12/15 sold at prices ranging from $7.55 to $7.61. Following these transactions, 3,745,196 shares were beneficially owned, held by Azzurro Capital Inc. and reported as indirectly owned by Ralph Bartel and the Ralph Bartel 2005 Trust.
Travelzoo (TZOO) insider activity: Reporting persons linked to Ralph Bartel disclosed the sale of 5,000 shares of Travelzoo common stock on 11/12/2025. The Form 4 lists a weighted-average sale price of $7.53, with sale prices ranging from $7.50 to $7.55, and notes an undertaking to provide detailed price-by-share information upon request.
Following the transaction, 3,777,696 shares were beneficially owned indirectly, held by Azzurro Capital Inc. The filing identifies the reporting person as a Director and 10% Owner. The shares sold were directly owned by Azzurro Capital Inc., with indirect ownership applying to Ralph Bartel and the Ralph Bartel 2005 Trust.
Travelzoo (TZOO) reported Q3 2025 results. Revenue rose to $22.2 million from $20.1 million as membership fees accelerated, but profit fell sharply. Operating income was $0.5 million versus $4.0 million a year ago, and net income attributable to Travelzoo was $0.2 million (EPS $0.01) versus $3.2 million (EPS $0.26). For the nine months, revenue was $69.2 million (vs. $63.2 million) with net income of $4.7 million (vs. $10.3 million).
Costs rose materially: sales and marketing expenses increased to $12.2 million from $8.3 million, compressing margins despite higher revenue. Cash and equivalents were $8.5 million at September 30, 2025, down from $17.1 million, reflecting $13.0 million of share repurchases year‑to‑date. Deferred revenue was $9.1 million, including $2.3 million for Jack’s Flight Club.
The balance sheet shows a stockholders’ equity deficit of $3.1 million, driven by repurchases and lower retained earnings; Travelzoo stockholders’ equity was $(8.1) million. Merchant payables were $11.8 million, contributing to negative working capital; management states cash on hand is expected to cover needs for at least the next twelve months.
Travelzoo insider transaction: A reporting person disclosed a sale of 10,000 shares of Travelzoo common stock on 11/04/2025, coded “S” for open‑market sale. The shares were sold at $7.75 per share, with sale prices ranging from $7.71 to $7.85.
Following the transaction, 3,782,696 shares were beneficially owned indirectly through Azzurro Capital Inc. Indirect ownership applies to Ralph Bartel and the Ralph Bartel 2005 Trust. The sale was executed by Azzurro Capital Inc., with Ralph Bartel signing as Authorized Signatory.
Travelzoo furnished an 8-K announcing it reported third quarter 2025 results. The company attached a press release as Exhibit 99.1 and a supplemental earnings presentation as Exhibit 99.2, both incorporated by reference.
The information provided under Item 2.02 and Item 7.01 is expressly stated as furnished, not filed, and therefore not subject to Section 18 of the Exchange Act.
Form 4 summary: Azzurro Capital Inc. reported the sale of 25,000 shares of Travelzoo (TZOO) on 09/26/2025. The form lists a price of $10.06 with a footnote that sale prices ranged from $9.98 to $10.16 per share, and the reporting person agrees to provide a breakdown of shares sold at each price upon request. After the transaction, Azzurro Capital Inc. is shown as beneficially owning 3,792,696 shares. The filing is signed by Ralph Bartel and identifies Azzurro Capital Inc., Ralph Bartel, and the Ralph Bartel 2005 Trust as reporting persons, each marked as a director and 10% owner where indicated. Indirect ownership is noted for Mr. Bartel and the Trust.
TRAVELZOO (TZOO) Form 4 – Insider Sales by Azzurro Capital and Related Parties
Azzurro Capital Inc reported two non-derivative sales of TRAVELZOO common stock on 09/23/2025 and 09/24/2025. On 09/23/2025 Azzurro sold 7,500 shares at approximately $10.48 per share and the reported beneficial holding afterward was 3,837,696 shares. On 09/24/2025 Azzurro sold 20,000 shares at approximately $10.51 per share, leaving 3,817,696 shares beneficially owned. The filings show the ownership is indirect for reporting persons Ralph Bartel and the Ralph Bartel 2005 Trust and the reporting persons commit to provide detailed breakdowns of shares sold at specific prices upon request. No derivative transactions were reported.
The Form 4 discloses that on 09/15/2025 Azzurro Capital Inc. sold 20,000 shares of Travelzoo (TZOO) at prices ranging from $9.50 to $9.56 per share. Following the reported sale, Azzurro Capital Inc. beneficially owned 3,845,196 shares. The filing identifies the reporting parties as Azzurro Capital Inc., Ralph Bartel, and the Ralph Bartel 2005 Trust, each listed as a director and a 10% owner or indirect owner. The submission includes an undertaking to provide details on the number of shares sold at each price if requested.
Insider sale disclosed for TRAVELZOO (TZOO). On 09/11/2025 Azzurro Capital Inc. reported selling 15,000 shares of common stock at prices ranging from $9.50 to $9.64, with a reported execution price listed as $9.58. Following the sale, Azzurro Capital Inc. is reported to beneficially own 3,865,196 shares. The filing shows indirect ownership by Ralph Bartel and the Ralph Bartel 2005 Trust and includes an offer to provide, on request, the number of shares sold at each price. The Form 4 is signed by Ralph Bartel as authorized signatory.