Travelzoo Inc. (NASDAQ:TZOO) Q2 2020 Earnings Conference Call - Final Transcript
Jul 30, 2020 • 11:00 am ET
Slide 9, you can see we have permanently reduced our cost structure to around $13 million a quarter. So we hope to achieve breakeven in Q3.
Now please turn to Slide 11. Holger will provide an update on the management focus.
Thank you, Lisa.
For the long-term success of the business and the strength of the brand, it's important that we take advantage of an exceptional industry opportunity for sourcing travel, entertainment and local deals for our members. We are already seeing irresistibly priced deals coming to the market, which were unheard of previously. Our members love deals, and Travelzoo will tell its members about the very best deals. Also, as explained in the last call, we focus on offering members flexible and worry-free deals for future travel. Travelzoo members are responding very positively to this.
We took the crisis as an opportunity to optimize our cost structure. We are making many cost savings permanent and are managing for higher profitability post crisis. A very important goal for management is also to achieve breakeven and regain profitability in Q4 or even already in Q3. Growing Jack's Flight Club's profitable subscription revenue stays on management's list of priorities. Lastly, in Q2, we increased our cash balance and generating positive cash flow is very important to us.
Now back to the operator.