\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n Key Financial & Operating Trended Metrics (in thousands U.S. dollars, except as noted)<\/b><\/p>\n\n\n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n\n \n1Q20\n<\/p>\n<\/td>\n | \n \n2Q20\n<\/p>\n<\/td>\n | \n \n3Q20\n<\/p>\n<\/td>\n | \n \n4Q20\n<\/p>\n<\/td>\n | | \n\n \n1Q21\n<\/p>\n<\/td>\n | \n \n2Q21\n<\/p>\n<\/td>\n<\/tr>\n | \n| FINANCIAL RESULTS<\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Revenue<\/td>\n | \n \n$76,082\n<\/p>\n<\/td>\n | \n \n($9,734)\n<\/p>\n<\/td>\n | \n \n$11,740\n<\/p>\n<\/td>\n | \n \n$53,246\n<\/p>\n<\/td>\n | | \n\n \n$51,850\n<\/p>\n<\/td>\n | \n \n$63,069\n<\/p>\n<\/td>\n<\/tr>\n | \n| Revenue Recognition Adjustment<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Cost of revenue<\/td>\n | \n \n33,495\n<\/p>\n<\/td>\n | \n \n13,801\n<\/p>\n<\/td>\n | \n \n12,390\n<\/p>\n<\/td>\n | \n \n25,832\n<\/p>\n<\/td>\n | | \n\n \n29,610\n<\/p>\n<\/td>\n | \n \n35,838\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gross profit<\/td>\n | \n \n42,587\n<\/p>\n<\/td>\n | \n \n(23,535)\n<\/p>\n<\/td>\n | \n \n(650)\n<\/p>\n<\/td>\n | \n \n27,414\n<\/p>\n<\/td>\n | | \n\n \n22,240\n<\/p>\n<\/td>\n | \n \n27,231\n<\/p>\n<\/td>\n<\/tr>\n | \n| Operating expenses<\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Selling and marketing<\/td>\n | \n \n31,985\n<\/p>\n<\/td>\n | \n \n6,848\n<\/p>\n<\/td>\n | \n \n5,299\n<\/p>\n<\/td>\n | \n \n13,160\n<\/p>\n<\/td>\n | | \n\n \n15,382\n<\/p>\n<\/td>\n | \n \n19,188\n<\/p>\n<\/td>\n<\/tr>\n | \n| General and administrative<\/td>\n | \n \n18,023\n<\/p>\n<\/td>\n | \n \n24,391\n<\/p>\n<\/td>\n | \n \n22,818\n<\/p>\n<\/td>\n | \n \n29,490\n<\/p>\n<\/td>\n | | \n\n \n20,630\n<\/p>\n<\/td>\n | \n \n25,287\n<\/p>\n<\/td>\n<\/tr>\n | \n| Technology and product development<\/td>\n | \n \n17,154\n<\/p>\n<\/td>\n | \n \n18,415\n<\/p>\n<\/td>\n | \n \n14,322\n<\/p>\n<\/td>\n | \n \n17,152\n<\/p>\n<\/td>\n | | \n\n \n17,460\n<\/p>\n<\/td>\n | \n \n18,344\n<\/p>\n<\/td>\n<\/tr>\n | \n| Impairment of long-lived assets<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n1,324\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n593\n<\/p>\n<\/td>\n | | \n\n \n5,106\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total operating expenses<\/td>\n | \n \n67,162\n<\/p>\n<\/td>\n | \n \n50,978\n<\/p>\n<\/td>\n | \n \n42,439\n<\/p>\n<\/td>\n | \n \n60,395\n<\/p>\n<\/td>\n | | \n\n \n58,578\n<\/p>\n<\/td>\n | \n \n62,819\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Equity Income \/ (Loss)<\/td>\n | | \n | \n | \n\n \n(2,059)\n<\/p>\n<\/td>\n | | \n\n \n376\n<\/p>\n<\/td>\n | \n \n(348)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Operating income<\/td>\n | \n \n(24,575)\n<\/p>\n<\/td>\n | \n \n(74,513)\n<\/p>\n<\/td>\n | \n \n(43,089)\n<\/p>\n<\/td>\n | \n \n(35,040)\n<\/p>\n<\/td>\n | | \n\n \n(35,962)\n<\/p>\n<\/td>\n | \n \n(35,936)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net financial income (expense)<\/td>\n | \n \n10,061\n<\/p>\n<\/td>\n | \n \n9,428\n<\/p>\n<\/td>\n | \n \n(4,484)\n<\/p>\n<\/td>\n | \n \n(2,095)\n<\/p>\n<\/td>\n | | \n\n \n(1,309)\n<\/p>\n<\/td>\n | \n \n(1,835)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net income before income taxes<\/td>\n | \n \n(14,514)\n<\/p>\n<\/td>\n | \n \n(65,085)\n<\/p>\n<\/td>\n | \n \n(47,573)\n<\/p>\n<\/td>\n | \n \n(37,135)\n<\/p>\n<\/td>\n | | \n\n \n(37,271)\n<\/p>\n<\/td>\n | \n \n(37,771)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adj. Net Income tax expense<\/td>\n | \n \n709\n<\/p>\n<\/td>\n | \n \n(8,011)\n<\/p>\n<\/td>\n | \n \n(5,838)\n<\/p>\n<\/td>\n | \n \n(8,298)\n<\/p>\n<\/td>\n | | \n\n \n292\n<\/p>\n<\/td>\n | \n \n(6,413)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | \n \n709\n<\/p>\n<\/td>\n | \n \n(8,011)\n<\/p>\n<\/td>\n | \n \n(5,838)\n<\/p>\n<\/td>\n | \n \n(8,298)\n<\/p>\n<\/td>\n | | \n\n \n292\n<\/p>\n<\/td>\n | \n \n(6,413)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjustment<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net income \/(loss)<\/td>\n | \n \n(15,223)\n<\/p>\n<\/td>\n | \n \n(57,074)\n<\/p>\n<\/td>\n | \n \n(41,735)\n<\/p>\n<\/td>\n | \n \n(28,837)\n<\/p>\n<\/td>\n | | \n\n \n(37,563)\n<\/p>\n<\/td>\n | \n \n(31,358)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net (income) \/ loss attributable to non controlling interest<\/td>\n | | \n | \n\n $69<\/i><\/p>\n<\/td>\n | \n $213<\/i><\/p>\n<\/td>\n | | \n\n $180<\/i><\/p>\n<\/td>\n | \n $258<\/i><\/p>\n<\/td>\n<\/tr>\n\n| Net income (loss) attributable to Despegar.com, Corp<\/td>\n | | \n | \n\n \n(41,666)\n<\/p>\n<\/td>\n | \n \n(28,624)\n<\/p>\n<\/td>\n | | \n\n \n(37,383)\n<\/p>\n<\/td>\n | \n \n(31,100)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted EBITDA<\/td>\n | \n \n($13,862)\n<\/p>\n<\/td>\n | \n \n($57,444)\n<\/p>\n<\/td>\n | \n \n($31,246)\n<\/p>\n<\/td>\n | \n \n($19,261)\n<\/p>\n<\/td>\n | | \n\n \n($20,024)\n<\/p>\n<\/td>\n | \n \n($22,256)\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net income\/ (loss)<\/td>\n | \n \n($15,223)\n<\/p>\n<\/td>\n | \n \n($57,074)\n<\/p>\n<\/td>\n | \n \n($41,735)\n<\/p>\n<\/td>\n | \n \n($28,837)\n<\/p>\n<\/td>\n | | \n\n \n($37,563)\n<\/p>\n<\/td>\n | \n \n($31,358)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Add (deduct):<\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Financial expense, net<\/td>\n | \n \n(10,061)\n<\/p>\n<\/td>\n | \n \n(9,428)\n<\/p>\n<\/td>\n | \n \n4,484\n<\/p>\n<\/td>\n | \n \n2,095\n<\/p>\n<\/td>\n | | \n\n \n1,309\n<\/p>\n<\/td>\n | \n \n1,835\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | \n \n709\n<\/p>\n<\/td>\n | \n \n(8,011)\n<\/p>\n<\/td>\n | \n \n(5,838)\n<\/p>\n<\/td>\n | \n \n(8,298)\n<\/p>\n<\/td>\n | | \n\n \n292\n<\/p>\n<\/td>\n | \n \n(6,413)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation expense<\/td>\n | \n \n1,851\n<\/p>\n<\/td>\n | \n \n1,782\n<\/p>\n<\/td>\n | \n \n2,597\n<\/p>\n<\/td>\n | \n \n1,751\n<\/p>\n<\/td>\n | | \n\n \n1,569\n<\/p>\n<\/td>\n | \n \n1,400\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of intangible assets<\/td>\n | \n \n4,939\n<\/p>\n<\/td>\n | \n \n5,501\n<\/p>\n<\/td>\n | \n \n4,370\n<\/p>\n<\/td>\n | \n \n6,889\n<\/p>\n<\/td>\n | | \n\n \n7,095\n<\/p>\n<\/td>\n | \n \n6,828\n<\/p>\n<\/td>\n<\/tr>\n | \n| Share-based compensation expense<\/td>\n | \n \n2,174\n<\/p>\n<\/td>\n | \n \n113\n<\/p>\n<\/td>\n | \n \n2,427\n<\/p>\n<\/td>\n | \n \n2,598\n<\/p>\n<\/td>\n | | \n\n \n2,149\n<\/p>\n<\/td>\n | \n \n5,444\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nImpairment of long-lived assets\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n | \n \n1,324\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n | \n \n593\n<\/p>\n<\/td>\n | | \n\n \n5,106\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nRestructuring charges\n<\/p>\n<\/td>\n | \n \n1,749\n<\/p>\n<\/td>\n | \n \n7,249\n<\/p>\n<\/td>\n | \n \n1,949\n<\/p>\n<\/td>\n | \n \n2,413\n<\/p>\n<\/td>\n | | \n\n \n19\n<\/p>\n<\/td>\n | \n \n8\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAcquisition transaction costs\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n | \n \n1,100\n<\/p>\n<\/td>\n | \n \n500\n<\/p>\n<\/td>\n | \n \n1,535\n<\/p>\n<\/td>\n | | \n\n \n\u2013\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted EBITDA<\/td>\n | \n \n($13,862)\n<\/p>\n<\/td>\n | \n \n($57,444)\n<\/p>\n<\/td>\n | \n \n($31,246)\n<\/p>\n<\/td>\n | \n \n($19,261)\n<\/p>\n<\/td>\n | | \n\n \n($20,024)\n<\/p>\n<\/td>\n | \n \n($22,256)\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n Unaudited Consolidated Balance Sheets as of June 30, 2021 and March 31, 2021 (in thousands U.S. dollars, except as noted)<\/b><\/p>\n\n\n | \nAs of June 30, 2021<\/td>\n | | \nAs of March 31, 2021<\/td>\n<\/tr>\n | \n| ASSETS<\/td>\n | | \n | \n | <\/tr>\n \n| Current assets<\/td>\n | | \n | \n | <\/tr>\n \n| Cash and cash equivalents<\/td>\n | \n \n303,813\n<\/p>\n<\/td>\n | | \n\n \n309,392\n<\/p>\n<\/td>\n<\/tr>\n | \n| Restricted cash and cash equivalents<\/td>\n | \n \n12,168\n<\/p>\n<\/td>\n | | \n\n \n16,348\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accounts receivable, net of allowances<\/td>\n | \n \n71,363\n<\/p>\n<\/td>\n | | \n\n \n52,395\n<\/p>\n<\/td>\n<\/tr>\n | \n| Related party receivable<\/td>\n | \n \n7,482\n<\/p>\n<\/td>\n | | \n\n \n8,064\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other current assets and prepaid expenses<\/td>\n | \n \n48,937\n<\/p>\n<\/td>\n | | \n\n \n55,363\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total current assets<\/td>\n | \n \n443,763\n<\/p>\n<\/td>\n | | \n\n \n441,561\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-current assets<\/td>\n | | \n | \n | <\/tr>\n \n| Other Assets<\/td>\n | \n \n83,899\n<\/p>\n<\/td>\n | | \n\n \n70,626\n<\/p>\n<\/td>\n<\/tr>\n | \n| Restricted cash and cash equivalents<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n | | \n\n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Right of use<\/td>\n | \n \n30,551\n<\/p>\n<\/td>\n | | \n\n \n33,955\n<\/p>\n<\/td>\n<\/tr>\n | \n| Property and equipment net<\/td>\n | \n \n19,426\n<\/p>\n<\/td>\n | | \n\n \n20,853\n<\/p>\n<\/td>\n<\/tr>\n | \n| Intangible assets, net<\/td>\n | \n \n90,196\n<\/p>\n<\/td>\n | | \n\n \n91,427\n<\/p>\n<\/td>\n<\/tr>\n | \n| Goodwill<\/td>\n | \n \n118,884\n<\/p>\n<\/td>\n | | \n\n \n115,378\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total non-current assets<\/td>\n | \n \n342,956\n<\/p>\n<\/td>\n | | \n\n \n332,239\n<\/p>\n<\/td>\n<\/tr>\n | \n| TOTAL ASSETS<\/td>\n | \n \n786,719\n<\/p>\n<\/td>\n | | \n\n \n773,800\n<\/p>\n<\/td>\n<\/tr>\n | \n| LIABILITIES AND SHAREHOLDERS\u2019 DEFICIT<\/td>\n | | \n | \n | <\/tr>\n \n| Current liabilities<\/td>\n | | \n | \n | <\/tr>\n \n| Accounts payable and accrued expenses<\/td>\n | \n \n37,077\n<\/p>\n<\/td>\n | | \n\n \n36,356\n<\/p>\n<\/td>\n<\/tr>\n | \n| Travel suppliers payable<\/td>\n | \n \n228,118\n<\/p>\n<\/td>\n | | \n\n \n206,863\n<\/p>\n<\/td>\n<\/tr>\n | \n| Related party payable<\/td>\n | \n \n29,719\n<\/p>\n<\/td>\n | | \n\n \n18,090\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loans and other financial liabilities<\/td>\n | \n \n3,480\n<\/p>\n<\/td>\n | | \n\n \n6,285\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred Revenue<\/td>\n | \n \n11,370\n<\/p>\n<\/td>\n | | \n\n \n9,577\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other liabilities<\/td>\n | \n \n71,722\n<\/p>\n<\/td>\n | | \n\n \n62,038\n<\/p>\n<\/td>\n<\/tr>\n | \n| Contingent liabilities<\/td>\n | \n \n8,596\n<\/p>\n<\/td>\n | | \n\n \n9,172\n<\/p>\n<\/td>\n<\/tr>\n | \n| Lease liabilities<\/td>\n | \n \n5,744\n<\/p>\n<\/td>\n | | \n\n \n6,968\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total current liabilities<\/td>\n | \n \n395,826\n<\/p>\n<\/td>\n | | \n\n \n355,349\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-current liabilities<\/td>\n | | \n | \n | <\/tr>\n \n| Other liabilities<\/td>\n | \n \n40,132\n<\/p>\n<\/td>\n | | \n\n \n43,439\n<\/p>\n<\/td>\n<\/tr>\n | \n| Contingent liabilities<\/td>\n | \n \n24,943\n<\/p>\n<\/td>\n | | \n\n \n25,896\n<\/p>\n<\/td>\n<\/tr>\n | \n| Long term debt<\/td>\n | \n \n13,324\n<\/p>\n<\/td>\n | | \n\n \n9,640\n<\/p>\n<\/td>\n<\/tr>\n | \n| Lease liabilities<\/td>\n | \n \n25,822\n<\/p>\n<\/td>\n | | \n\n \n27,780\n<\/p>\n<\/td>\n<\/tr>\n | \n| Related party liability<\/td>\n | \n \n125,000\n<\/p>\n<\/td>\n | | \n\n \n125,000\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total non-current liabilities<\/td>\n | \n \n229,221\n<\/p>\n<\/td>\n | | \n\n \n231,755\n<\/p>\n<\/td>\n<\/tr>\n | \n| TOTAL LIABILITIES<\/td>\n | \n \n625,047\n<\/p>\n<\/td>\n | | \n\n \n587,104\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Series A non-convertible preferred shares<\/td>\n | \n \n96,319\n<\/p>\n<\/td>\n | | \n\n \n89,976\n<\/p>\n<\/td>\n<\/tr>\n | \n| Series B convertible preferred shares<\/td>\n | \n \n46,700\n<\/p>\n<\/td>\n | | \n\n \n46,700\n<\/p>\n<\/td>\n<\/tr>\n | \n| Redeemable non-controlling interest<\/td>\n | \n \n2,559\n<\/p>\n<\/td>\n | | \n\n \n2,435\n<\/p>\n<\/td>\n<\/tr>\n | \n| Mezzanine Equity<\/td>\n | \n \n145,578\n<\/p>\n<\/td>\n | | \n\n \n139,111\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| SHAREHOLDERS\u2019 EQUITY (DEFICIT)<\/td>\n | | \n | \n | <\/tr>\n \n| Common stock<\/td>\n | \n \n276,032\n<\/p>\n<\/td>\n | | \n\n \n268,261\n<\/p>\n<\/td>\n<\/tr>\n | \n| Additional paid-in capital<\/td>\n | \n \n363,662\n<\/p>\n<\/td>\n | | \n\n \n373,065\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other reserves<\/td>\n | \n \n(728)\n<\/p>\n<\/td>\n | | \n\n \n(728)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated other comprehensive income<\/td>\n | \n \n(15,940)\n<\/p>\n<\/td>\n | | \n\n \n(17,184)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated losses<\/td>\n | \n \n(538,665)\n<\/p>\n<\/td>\n | | \n\n \n(507,561)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Treasury Stock<\/td>\n | \n \n(68,267)\n<\/p>\n<\/td>\n | | \n\n \n(68,268)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total Shareholders’ Equity Attributable \/ (Deficit) to Despegar.com Corp<\/td>\n | \n \n16,094\n<\/p>\n<\/td>\n | | \n\n \n47,585\n<\/p>\n<\/td>\n<\/tr>\n | \n| TOTAL LIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/td>\n | \n \n786,719\n<\/p>\n<\/td>\n | | \n\n \n773,800\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n Unaudited Statements of Cash Flows for the three-month periods ended June 30, 2021 and 2020 (in thousands U.S. dollars, except as noted)<\/b><\/p>\n\n\n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n\n \n3 months ended June 30,\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n\n \n2021\n<\/p>\n<\/td>\n | \n \n2020\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash flows from operating activities<\/td>\n | | \n | <\/tr>\n \n| Net income \/ (loss)<\/td>\n | \n \n($31,358)\n<\/p>\n<\/td>\n | \n \n($57,074)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjustments to reconcile net income to net cash flow from operating activities<\/td>\n | | \n | <\/tr>\n \n| Net loss attributable to redeemable non-controlling interest<\/td>\n | \n \n257\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Unrealized foreign currency translation losses<\/td>\n | \n \n1,122\n<\/p>\n<\/td>\n | \n \n(5,964)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation expense<\/td>\n | \n \n1,401\n<\/p>\n<\/td>\n | \n \n1,782\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of intangible assets<\/td>\n | \n \n6,827\n<\/p>\n<\/td>\n | \n \n5,501\n<\/p>\n<\/td>\n<\/tr>\n | \n| Impairment of long-lived assets<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n | \n \n1,324\n<\/p>\n<\/td>\n<\/tr>\n | \n| Disposals of property and equipment<\/td>\n | \n \n1,123\n<\/p>\n<\/td>\n | \n \n1,323\n<\/p>\n<\/td>\n<\/tr>\n | \n| Earnout<\/td>\n | \n \n274\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Indemnity<\/td>\n | \n \n(274)\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Investments in other subsidiaries<\/td>\n | \n \n(733)\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock based compensation expense<\/td>\n | \n \n5,444\n<\/p>\n<\/td>\n | \n \n113\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of Right of use<\/td>\n | \n \n826\n<\/p>\n<\/td>\n | \n \n919\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest and penalties<\/td>\n | \n \n786\n<\/p>\n<\/td>\n | \n \n323\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income taxes<\/td>\n | \n \n(8,077)\n<\/p>\n<\/td>\n | \n \n(8,013)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Allowance for doubtful accounts<\/td>\n | \n \n2,592\n<\/p>\n<\/td>\n | \n \n11,661\n<\/p>\n<\/td>\n<\/tr>\n | \n| Provision for contingencies<\/td>\n | \n \n(1,289)\n<\/p>\n<\/td>\n | \n \n521\n<\/p>\n<\/td>\n<\/tr>\n | \n| Changes in assets and liabilities, net of non-cash transactions<\/td>\n | | \n | <\/tr>\n \n| (Increase) \/ Decrease in accounts receivable net of allowances<\/td>\n | \n \n(17,937)\n<\/p>\n<\/td>\n | \n \n59,129\n<\/p>\n<\/td>\n<\/tr>\n | \n| (Increase) \/ Decrease in related party receivables<\/td>\n | \n \n626\n<\/p>\n<\/td>\n | \n \n6,128\n<\/p>\n<\/td>\n<\/tr>\n | \n| (Increase) \/ Decrease in other assets and prepaid expenses<\/td>\n | \n \n(3,166)\n<\/p>\n<\/td>\n | \n \n1,973\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase \/ (Decrease) in accounts payable and accrued expenses<\/td>\n | \n \n(126)\n<\/p>\n<\/td>\n | \n \n(4,334)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase \/ (Decrease) in travel suppliers payable<\/td>\n | \n \n13,496\n<\/p>\n<\/td>\n | \n \n21,274\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase \/ (Decrease) in other liabilities<\/td>\n | \n \n17,436\n<\/p>\n<\/td>\n | \n \n7,121\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase \/ (Decrease) in contingencies<\/td>\n | \n \n(1,703)\n<\/p>\n<\/td>\n | \n \n(73)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase \/ (Decrease) in related party liabilities<\/td>\n | \n \n10,836\n<\/p>\n<\/td>\n | \n \n(22,466)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase \/ (Decrease) in lease liability<\/td>\n | \n \n(757)\n<\/p>\n<\/td>\n | \n \n(610)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase \/ (Decrease) in deferred revenue<\/td>\n | \n \n1,616\n<\/p>\n<\/td>\n | \n \n(514)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash flows provided by \/ (used in) operating activities<\/td>\n | \n (758)<\/b><\/p>\n<\/td>\n | \n 20,044<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Cash flows from investing activities<\/td>\n | | \n | <\/tr>\n \n| Payment for acquired businesses, net of cash acquired<\/td>\n | \n \n(4,752)\n<\/p>\n<\/td>\n | \n \n(5,750)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Acquisition of property and equipment<\/td>\n | \n \n(515)\n<\/p>\n<\/td>\n | \n \n(239)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase of intangible assets including internal-use software and website development<\/td>\n | \n \n(4,522)\n<\/p>\n<\/td>\n | \n \n(3,802)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash (used in) \/provided by investing activities<\/td>\n | \n \n(9,789)\n<\/p>\n<\/td>\n | \n \n(9,791)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash flows from financing activities<\/td>\n | | \n | <\/tr>\n \n| Net (decrease) \/ increase of short term debt<\/td>\n | \n \n(3,587)\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Increase in long-term debt<\/td>\n | \n \n3,767\n<\/p>\n<\/td>\n | \n \n1,144\n<\/p>\n<\/td>\n<\/tr>\n | \n| Decrease in long-term debt<\/td>\n | \n \n(467)\n<\/p>\n<\/td>\n | \n \n(9,800)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Payment of dividends to stockholders<\/td>\n | \n \n(498)\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Capital contributions<\/td>\n | \n \n75\n<\/p>\n<\/td>\n | \n \n\u2013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash (used in) \/ provided by financing activities<\/td>\n | \n (710)<\/b><\/p>\n<\/td>\n | \n (8,656)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Effect of exchange rate changes on cash and cash equivalents<\/td>\n | \n \n1,498\n<\/p>\n<\/td>\n | \n \n613\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net increase \/ (decrease) in cash and cash equivalents<\/td>\n | \n \n(9,759)\n<\/p>\n<\/td>\n | \n \n2,210\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash and cash equivalents as of beginning of the period<\/td>\n | \n \n325,740\n<\/p>\n<\/td>\n | \n \n225,929\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash and cash equivalents as of end of the period<\/td>\n | \n \n315,981\n<\/p>\n<\/td>\n | \n \n228,139\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n Use of Non-GAAP Financial Measures<\/b><\/p>\n \nThis announcement includes certain references to Adjusted EBITDA and non-GAAP financial measures. The Company defines:\n<\/p>\n Adjusted EBITDA<\/span> is calculated as net income\/(loss) exclusive of financial income\/(expense), income tax, depreciation and amortization, impairment charges, stock-based compensation expense, restructuring charges and acquisition transaction costs.\n<\/p>\n\nAdjusted EBITDA is not a measure recognized under U.S. GAAP. Accordingly, readers are cautioned not to place undue reliance on this information and should note that these measures as calculated by the Company, differ materially from similarly titled measures reported by other companies, including its competitors.\n<\/p>\n \nTo supplement its consolidated financial statements presented in accordance with U.S. GAAP, the Company presents foreign exchange (\u201cFX\u201d) neutral measures.\n<\/p>\n \nThis non-GAAP measure should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP and may be different from non-GAAP measures used by other companies. In addition, this non-GAAP measure is not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with U.S. GAAP. This non-GAAP financial measure should only be used to evaluate our results of operations in conjunction with the most comparable U.S. GAAP financial measures.\n<\/p>\n \nReconciliation of this non-GAAP financial measure to the most comparable U.S. GAAP financial measures can be found in the tables included in this quarterly earnings release.\n<\/p>\n \nThe Company believes that reconciliation of FX neutral measures to the most directly comparable GAAP measure provides investors an overall understanding of our current financial performance and its prospects for the future. Specifically, we believe this non-GAAP measure provide useful information to both management and investors by excluding the foreign currency exchange rate impact that may not be indicative of our core operating results and business outlook.\n<\/p>\n \nThe FX neutral measures were calculated by using the average monthly exchange rates for each month during 2020 and applying them to the corresponding months in 2021, so as to calculate what results would have been had exchange rates remained stable from one year to the next. The table below excludes intercompany allocation FX effects. Finally, this measure does not include any other macroeconomic effect such as local currency inflation effects, the impact on impairment calculations or any price adjustment to compensate local currency inflation or devaluations.\n<\/p>\n \n\nThe following table sets forth the FX neutral measures related to our reported results of the operations for the three-month periods ended June 30, 2021 and 2020\n<\/p>\n \n\n| Geographical Breakdown of Select Operating and Financial Metrics<\/td>\n<\/tr>\n | \n| (In millions, except as noted)<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| 2Q21 vs. 2Q20 – As Reported<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nBrazil<\/b><\/td>\n | | \nMexico<\/b><\/td>\n | | \nRest of Latin America<\/b><\/td>\n | | \nTotal<\/b><\/td>\n<\/tr>\n\n | \n\n 2Q21<\/b><\/p>\n<\/td>\n | \n 2Q20<\/b><\/p>\n<\/td>\n | % Chg.<\/b><\/td>\n | | \n\n 2Q21<\/b><\/p>\n<\/td>\n | \n 2Q20<\/b><\/p>\n<\/td>\n | % Chg.<\/b><\/td>\n | | \n\n 2Q21<\/b><\/p>\n<\/td>\n | \n 2Q20<\/b><\/p>\n<\/td>\n | % Chg.<\/b><\/td>\n | | \n\n 2Q21<\/b><\/p>\n<\/td>\n | \n 2Q20<\/b><\/p>\n<\/td>\n | % Chg.<\/b><\/td>\n<\/tr>\n\n| Transactions (‘000)<\/td>\n | \n \n328\n<\/p>\n<\/td>\n | \n \n137\n<\/p>\n<\/td>\n | \n 139%<\/i><\/p>\n<\/td>\n | | \n\n \n486\n<\/p>\n<\/td>\n | \n \n45\n<\/p>\n<\/td>\n | \n 978%<\/i><\/p>\n<\/td>\n | | \n\n \n517\n<\/p>\n<\/td>\n | \n \n25\n<\/p>\n<\/td>\n | \n 2008%<\/i><\/p>\n<\/td>\n | | \n\n \n1,331.0\n<\/p>\n<\/td>\n | \n \n207\n<\/p>\n<\/td>\n | \n 543%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| Gross Bookings<\/td>\n | \n \n82\n<\/p>\n<\/td>\n | \n \n25\n<\/p>\n<\/td>\n | \n 229%<\/i><\/p>\n<\/td>\n | | \n\n \n211\n<\/p>\n<\/td>\n | \n \n13\n<\/p>\n<\/td>\n | \n 1583%<\/i><\/p>\n<\/td>\n | | \n\n \n196\n<\/p>\n<\/td>\n | \n \n12\n<\/p>\n<\/td>\n | \n 1600%<\/i><\/p>\n<\/td>\n | | \n\n \n488.9\n<\/p>\n<\/td>\n | \n \n49\n<\/p>\n<\/td>\n | \n 899%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| ASP ($)<\/td>\n | \n \n249\n<\/p>\n<\/td>\n | \n \n181\n<\/p>\n<\/td>\n | \n 38%<\/i><\/p>\n<\/td>\n | | \n\n \n434\n<\/p>\n<\/td>\n | \n \n278\n<\/p>\n<\/td>\n | \n 56%<\/i><\/p>\n<\/td>\n | | \n\n \n380\n<\/p>\n<\/td>\n | \n \n471\n<\/p>\n<\/td>\n | \n (19%)<\/i><\/p>\n<\/td>\n | | \n\n \n367\n<\/p>\n<\/td>\n | \n \n236\n<\/p>\n<\/td>\n | \n 56%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| Revenues<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\n \n63.1\n<\/p>\n<\/td>\n | \n \n-10\n<\/p>\n<\/td>\n | n.m<\/i><\/td>\n<\/tr>\n\n| Gross Profit<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\n \n27.2\n<\/p>\n<\/td>\n | \n \n-24\n<\/p>\n<\/td>\n | n.m<\/i><\/td>\n<\/tr>\n\n| 2Q21 vs. 2Q20 – FX Neutral Basis<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nBrazil<\/b><\/td>\n | | \nMexico<\/b><\/td>\n | | \nRest of Latin America<\/b><\/td>\n | | \nTotal<\/b><\/td>\n<\/tr>\n\n | \n\n 2Q21<\/b><\/p>\n<\/td>\n | \n 2Q20<\/b><\/p>\n<\/td>\n | % Chg.<\/b><\/td>\n | | \n\n 2Q21<\/b><\/p>\n<\/td>\n | \n 2Q20<\/b><\/p>\n<\/td>\n | % Chg.<\/b><\/td>\n | | \n\n 2Q21<\/b><\/p>\n<\/td>\n | \n 2Q20<\/b><\/p>\n<\/td>\n | % Chg.<\/b><\/td>\n | | \n\n 2Q21<\/b><\/p>\n<\/td>\n | \n 2Q20<\/b><\/p>\n<\/td>\n | % Chg.<\/b><\/td>\n<\/tr>\n\n| Transactions (‘000)<\/td>\n | \n \n328\n<\/p>\n<\/td>\n | \n \n137\n<\/p>\n<\/td>\n | \n 139%<\/i><\/p>\n<\/td>\n | | \n\n \n486\n<\/p>\n<\/td>\n | \n \n45\n<\/p>\n<\/td>\n | \n 978%<\/i><\/p>\n<\/td>\n | | \n\n \n517\n<\/p>\n<\/td>\n | \n \n25\n<\/p>\n<\/td>\n | \n 2008%<\/i><\/p>\n<\/td>\n | | \n\n \n1,331.0\n<\/p>\n<\/td>\n | \n \n207\n<\/p>\n<\/td>\n | \n 543%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| Gross Bookings<\/td>\n | \n \n80\n<\/p>\n<\/td>\n | \n \n25\n<\/p>\n<\/td>\n | \n 221%<\/i><\/p>\n<\/td>\n | | \n\n \n181\n<\/p>\n<\/td>\n | \n \n13\n<\/p>\n<\/td>\n | \n 1347%<\/i><\/p>\n<\/td>\n | | \n\n \n206\n<\/p>\n<\/td>\n | \n \n12\n<\/p>\n<\/td>\n | \n 1686%<\/i><\/p>\n<\/td>\n | | \n\n \n467\n<\/p>\n<\/td>\n | \n \n49\n<\/p>\n<\/td>\n | \n 855%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| ASP ($)<\/td>\n | \n \n243\n<\/p>\n<\/td>\n | \n \n181\n<\/p>\n<\/td>\n | \n 34%<\/i><\/p>\n<\/td>\n | | \n\n \n373\n<\/p>\n<\/td>\n | \n \n278\n<\/p>\n<\/td>\n | \n 34%<\/i><\/p>\n<\/td>\n | | \n\n \n399\n<\/p>\n<\/td>\n | \n \n471\n<\/p>\n<\/td>\n | \n (15%)<\/i><\/p>\n<\/td>\n | | \n\n \n351\n<\/p>\n<\/td>\n | \n \n236\n<\/p>\n<\/td>\n | \n 49%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| Revenues<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\n \n60.0\n<\/p>\n<\/td>\n | \n \n-10\n<\/p>\n<\/td>\n | n.m<\/i><\/td>\n<\/tr>\n\n| Gross Profit<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\n \n24.4\n<\/p>\n<\/td>\n | \n \n-24\n<\/p>\n<\/td>\n | n.m<\/i><\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n ![\"\"](\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210819005211r1&sid=flmnd&distro=nx&lang=en\") <\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210819005211\/en\/<\/a><\/span><\/p>\n\nIR Contact
\n
Natalia Nirenberg
\n
Investor Relations
\n
Phone: (+54911) 26684490
\n
E-mail: natalia.nirenberg@despegar.com<\/a><\/p>\n | | | | | | | | | | | | | | | | | | | | |