DESP - Despegar.com Corporation (DESP) Q4 2023 Earnings Call Transcript
2024-03-14 23:23:06 ET
Despegar.com Corporation (DESP)
Q4 2023 Earnings Conference Call
March 14, 2024, 16:30 ET
Company Participants
Luca Pfeifer - VP, IR
Damián Scokin - CEO
Amit Singh - CFO
Gonzalo Estebarena - CTO
Conference Call Participants
Naved Khan - B. Riley Securities
Kevin Kopelman - Cowen & Co.
Brett Knoblauch - Cantor Fitzgerald
Presentation
Operator
Good afternoon, and welcome to Despegar's fourth-quarter 2023 earnings conference call. My name is Abby, and I will be the operator for today's call. [Operator Instructions].
Now, I would like to turn the call over to Mr. Luca Pfeifer of investor relations. Please go ahead.
Luca Pfeifer
Good morning, everyone, and thanks for joining us today.
In addition to reporting unaudited financial results in accordance with US generally accepted accounting principles, we will be discussing certain non-GAAP financial measures and operating metrics, including foreign-exchange-neutral calculations. Investors should carefully read the definitions of these numbers and metrics included in our press release to ensure that they understand them. Non-GAAP financial measures and operating metrics should not be considered in isolation, as substitutes for, or superior to, GAAP financial measures and are provided as supplemental information only.
Before we begin our prepared remarks, please allow me to remind you that certain statements made during the course of the discussion may constitute forward-looking statements, which are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to materially differ, including factors that may be beyond the company's control. These include, but are not limited to, expectations and assumptions related to the integration and performance of the businesses we acquire. For a description of these risks, please refer to our filings with the US Securities and Exchange Commission and our press release.
Speaking on today's call is our CEO, Damián Scokin, who will provide an overview of Despegar's fourth-quarter and full-year performance, as well as an update on our many strategic growth initiatives. Next, our CTO, Gonzalo Estebarena, will introduce you to a new innovative technology feature that we recently launched and explain why we are excited about its potential. Amit Singh, our CFO, will follow with a more detailed review of the quarter's financial results, as well as a discussion of our 2024 annual guidance. After that, Damián will end our prepared remarks with a wrap-up before we open the call for questions.
Damián, please go ahead.
Damián Scokin
Thank you, Luca, and thank you, everyone, for joining our earnings call.
The fourth quarter of 2023 was a remarkable period for Despegar as we achieved several major strategic milestones. Our consistent and robust commercial execution, coupled with strong demand trends across the region, resulted in our highest gross booking since the company's IPO, growing an impressive 44% year on year to $1.5 billion or 78% year on year in constant currency. Moreover, this was the fastest year-on-year growth in gross bookings since our IPO when excluding COVID-related recovery....
Despegar.com Corporation (DESP) Q4 2023 Earnings Call Transcript