Q3 2021 Financial Statements

Exhibit 99.3

trivago N.V.

Unaudited Condensed Consolidated Interim Financial Statements as of September 30, 2021

1

trivago N.V.

Condensed consolidated statements of operations

(€ thousands, except per share amounts, unaudited)

		Three months ended			Nine months ended
		September 30,			September 30,
		2021			2020			2021			2020
Revenue	€	102,801		€	47,399		€	208,747		€	154,279
Revenue from related party		35,838			13,243			63,592			62,298
Total revenue		138,639			60,642			272,339			216,577
Costs and expenses:
Cost of revenue, including related party, excluding		3,136			2,644			8,683			8,112
amortization (1)
Selling and marketing, including related party (1)(2)(3)		104,374			36,553			199,077			160,777
Technology and content, including related party (1)(2)(3)		12,746			14,786			39,139			50,695
General and administrative, including related party (1)(2)(3)		9,765			7,992			28,469			32,316
Amortization of intangible assets (2)		34			12			102			373
Impairment of goodwill		-			-			-			207,618
Operating income/(loss)		8,584			(1,345)			(3,131)			(243,314)
Other income/(expense)
Interest expense		(106)			(45)			(308)			(150)
Other, net		353			(417)			985			(1,015)
Total other income/(expense), net		247			(462)			677			(1,165)
Income/(loss) before income taxes		8,831			(1,807)			(2,454)			(244,479)
Expense/(benefit) for income taxes		3,303			626			2,047			(7,409)
Income/(loss) before equity method investment		5,528			(2,433)			(4,501)			(237,070)
Income from equity method investment		-			120			-			333
Net income/(loss)	€	5,528		€	(2,313)		€	(4,501)		€	(236,737)
Earnings per share available to common stockholders:
Basic	€	0.02		€	(0.01)		€	(0.01)		€	(0.67)
Diluted		0.02			(0.01)			(0.01)			(0.67)
Shares used in computing earnings per share:
Basic		358,076			353,543			357,181			353,151
Diluted		368,322			353,543			357,181			353,151

2

		Three months ended			Nine months ended
		September 30,			September 30,
		2021			2020			2021			2020
(1) Includes share-based compensation as follows:
Cost of revenue	€	68		€	70		€	189		€	190
Selling and marketing		259			231			784			908
Technology and content		1,135			904			2,864			3,085
General and administrative		3,566			2,490			9,206			7,199
(2) Includes amortization as follows:
Amortization of internal use software costs included in	€	19		€	41		€	82		€	141
selling and marketing
Amortization of internal use software and website		1,159			997			3,479			2,919
development costs included in technology and content
Amortization of internal use software costs included in		75			82			246			407
general and administrative
Amortization of acquired technology included in		34			12			102			84
amortization of intangible assets
(3) Includes related party expense as follows:
Cost of revenue	€	-		€	(32)		€	-		€	(32)
Selling and marketing	€	28		€	38		€	101		€	126
Technology and content		13			19			40			104
General and administrative		-			9			-			31

See accompanying notes

3

trivago N.V.

Condensed consolidated statements of comprehensive income/(loss)

(€ thousands, unaudited)

		Three months ended			Nine months ended
		September 30,			September 30,
		2021			2020			2021	2020
Net income/(loss)	€	5,528		€	(2,313)		€	(4,501)		€ (236,737)
Other comprehensive income/(loss):
Currency translation adjustments		12			(49)			4		(20)
Total other comprehensive income/(loss)		12			(49)			4	(20)
Comprehensive income/(loss)	€	5,540		€	(2,362)		€	(4,497)		€ (236,757)

See accompanying notes

4

trivago N.V.

Condensed consolidated balance sheets

(€ thousands, except share and per share data, unaudited)

ASSETS		As of			As of
September 30, 2021		December 31, 2020
Current assets:
Cash and cash equivalents	€	194,438		€	208,353
Restricted cash		-			103
Accounts receivable, net of allowance for credit losses of €573 and €348		55,252			11,642
at September 30, 2021 and December 31, 2020, respectively
Accounts receivable, related party		20,680			2,969
Short-term investments		-			19,448
Tax receivable		3,642			7,839
Prepaid expenses and other current assets		10,496			10,438
Total current assets		284,508			260,792
Property and equipment, net		17,121			26,682
Operating lease right-of-use assets		49,139			86,810
Deferred income taxes		1			1
Other long-term assets		3,313			4,399
Intangible assets, net		170,119			169,550
Goodwill		287,751			282,664
TOTAL ASSETS	€	811,952		€	830,898
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	€	19,921		€	6,755
Income taxes payable		1,013			102
Deferred revenue		1,762			2,750
Payroll liabilities		3,269			2,983
Accrued expenses and other current liabilities		16,104			14,934
Operating lease liability		2,258			7,188
Total current liabilities		44,327			34,712
Operating lease liability		45,837			85,979
Deferred income taxes		44,264			42,176
Other long-term liabilities		3,210			3,514
Stockholders' equity:
Class A common stock, €0.06 par value - 700,000,000 shares
authorized, 95,317,292 and 55,967,976 shares issued and outstanding		5,719			3,358
as of September 30, 2021 and December 31, 2020, respectively
Class B common stock, €0.60 par value - 320,000,000 shares
authorized, 262,934,762 and 298,187,967 shares issued and
outstanding as of September 30, 2021 and December 31, 2020,		157,761			178,913
respectively
Reserves		831,102			798,017
Contribution from Parent		122,307			122,307
Accumulated other comprehensive income/(loss)		8			4
Accumulated deficit		(442,583)			(438,082)
Total stockholders' equity		674,314			664,517
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	€	811,952		€	830,898

See accompanying notes

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