NextTrip, Inc. NTRP
travel and media company operating at the intersection of premium content and travel commerce. We believe the travel industry is undergoing
a structural shift toward video-led discovery, personalized planning, and seamless booking experiences, where consumers increasingly
move from inspiration to transaction within connected digital environments. Our strategy is designed to capture this shift.
combines premium travel content, global audience reach, proprietary booking technology, and concierge-supported travel services into
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.7M | $501.4K | $458.8K | $382.8K | $1.7M | $807.5K | $402.4K | $388.6K | $641.0K | $966.4K |
| Cost of revenue | $3.1M | $498.1K | $397.5K | $354.9K | $560.0K | $592.0K | $574.3K | $270.1K | $272.4K | $228.9K |
| Gross profit | $652.5K | $3.3K | $61.2K | $27.9K | $1.1M | $215.5K | -$171.9K | $118.5K | $368.7K | $737.5K |
| R&D | — | — | — | $404.7K | $417.7K | $126.3K | $648.0K | $493.4K | $302.0K | $120.6K |
| SG&A | $202.8K | $95.3K | $152.1K | $209.6K | $734.4K | $416.6K | $747.9K | $466.7K | $324.9K | $272.9K |
| Total operating expenses | $17.0M | $7.4M | $5.7M | $5.0M | $9.6M | $5.9M | $6.2M | $5.7M | $4.3M | $3.2M |
| Operating income | -$16.4M | -$7.4M | -$5.7M | -$5.0M | -$8.5M | -$5.7M | -$6.4M | -$5.6M | -$3.9M | — |
| Interest expense | — | — | — | $7.3K | $11.3K | $13.9K | $8.7K | — | — | — |
| Pre-tax income | -$15.9M | -$10.1M | -$6.7M | -$5.0M | -$7.4M | -$5.2M | -$6.3M | -$5.6M | -$4.4M | -$2.2M |
| Income tax | — | — | — | — | — | — | — | — | — | $0 |
| Net income | $16.2M | $10.2M | $7.3M | -$5.0M | -$7.4M | -$5.2M | -$6.3M | -$5.6M | -$4.4M | -$2.2M |
| EPS, basic | -1.82 | -2.23 | -32.12 | -70.32 | -0.76 | — | — | — | — | — |
| EPS, diluted | -1.82 | -2.23 | -32.12 | -70.32 | -0.76 | -1.83 | -5.37 | -8.10 | -1.00 | -0.70 |
| Shares, diluted (wtd. avg.) | $8.9M | $4.6M | $228.3K | $71.6K | $9.8M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.7M | $1.1M | $323.8K | $282.5K | $11.4M | $3.7M | $86.9K | $1.3M | $1.5M | $398.4K |
| Receivables | $119.2K | $22.6K | $34.1K | $371.6K | $412.2K | $331.6K | $55.5K | $38.8K | $104.5K | $288.2K |
| Inventory | — | — | — | $950.9K | $710.1K | $659.7K | $598.7K | $240.1K | $192.7K | $187.2K |
| Total current assets | $3.2M | $2.5M | $1.7M | $2.2M | $12.7M | $4.8M | $940.9K | $1.7M | $2.7M | $909.9K |
| Property, plant and equipment | $1.6K | $4.1K | $6.6K | $16.2K | $232.3K | $138.6K | $128.7K | $277.9K | $411.6K | $564.9K |
| Goodwill | $3.1M | $1.2M | $1.2M | — | — | — | — | — | — | — |
| Other intangibles | $4.3M | $2.1M | $2.2M | $2.6M | $925.1K | $753.1K | $569.3K | $405.0K | $294.4K | $226.4K |
| Total assets | $13.1M | $9.9M | $5.1M | $5.9M | $13.8M | $5.7M | $1.7M | $2.4M | $3.4M | $1.9M |
| Accounts payable | $725.5K | $1.2M | $531.8K | $519.1K | $206.4K | $128.9K | $727.1K | $217.5K | $100.9K | $112.2K |
| Total current liabilities | $3.9M | $2.6M | $2.0M | $4.5M | $981.2K | $450.7K | $1.0M | $695.8K | $382.9K | $799.1K |
| Total liabilities | $7.3M | $2.6M | $2.0M | $5.4M | $981.2K | $536.8K | $1.0M | $695.8K | $382.9K | $892.3K |
| Retained earnings | -$50.6M | -$34.3M | -$24.2M | -$16.8M | -$40.6M | -$33.1M | -$26.1M | -$19.8M | -$14.2M | -$9.8M |
| Total equity | $5.4M | $7.4M | $3.1M | $484.1K | -$11.8M | $5.2M | $652.2K | $1.7M | $3.0M | $977.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$4.6M | -$5.1M | -$5.7M | -$3.8M | -$6.3M | -$4.8M | -$5.5M | -$3.8M | -$2.6M | -$2.0M |
| Depreciation and amortisation | $1.1M | $713.2K | $1.5M | $707.2K | $94.1K | $105.2K | $192.6K | $192.4K | $196.9K | $178.8K |
| Stock-based compensation | $193.1K | $67.9K | $116.5K | $793.3K | $1.1M | $596.8K | $497.2K | $1.1M | $719.8K | $341.6K |
| Capital expenditure | — | — | $9.3K | $2.9K | $182.5K | $88.1K | $33.5K | $79.1K | $69.5K | — |
| Investing cash flow | -$2.7M | -$1.0M | $980.9K | -$4.3M | -$359.8K | -$298.4K | -$85.8K | $403.7K | -$929.0K | -$79.1K |
| Financing cash flow | $7.9M | $6.9M | $4.8M | $8.1M | $14.4M | $8.7M | $4.4M | $3.1M | $4.7M | $900.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-039640.
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