Trivago N : Q2 2021 Financial Statements

Exhibit 99.3

trivago N.V.

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

1

trivago N.V.

Condensed consolidated statements of operations

(€ thousands, except per share amounts, unaudited)

		Three months ended			Six months ended
		June 30,			June 30,
		2021			2020			2021			2020
Revenue	€	75,337		€	13,591		€	105,946		€	106,880
Revenue from related party		20,137			2,541			27,754			49,055
Total revenue		95,474			16,132			133,700			155,935
Costs and expenses:
Cost of revenue, including related party, excluding		2,961			2,654			5,547			5,468
amortization (1)
Selling and marketing, including related party (1)(2)(3)		71,366			12,847			94,703			124,224
Technology and content, including related party (1)(2)(3)		13,753			18,293			26,393			35,909
General and administrative, including related party (1)(2)(3)		10,189			9,019			18,704			24,324
Amortization of intangible assets (2)		68			36			68			361
Impairment of goodwill		-			-			-			207,618
Operating loss		(2,863)			(26,717)			(11,715)			(241,969)
Other income/(expense)
Interest expense		(146)			(59)			(202)			(105)
Other, net		(274)			(274)			632			(598)
Total other income/(expense), net		(420)			(333)			430			(703)
Loss before income taxes		(3,283)			(27,050)			(11,285)			(242,672)
Expense/(benefit) for income taxes		6			(6,913)			(1,256)			(8,035)
Loss before equity method investment		(3,289)			(20,137)			(10,029)			(234,637)
Income/(loss) from equity method investment		-			(21)			-			213
Net loss	€	(3,289)		€	(20,158)		€	(10,029)		€	(234,424)
Earnings per share available to common stockholders:
Basic	€	(0.01)		€	(0.06)		€	(0.03)		€	(0.66)
Diluted		(0.01)			(0.06)			(0.03)			(0.66)
Shares used in computing earnings per share:
Basic		357,582			353,133			356,726			352,953
Diluted		357,582			353,133			356,726			352,953

2

		Three months ended			Six months ended
		June 30,			June 30,
		2021			2020			2021			2020
(1) Includes share-based compensation as follows:
Cost of revenue	€	71		€	70		€	121		€	120
Selling and marketing		299			345			525			677
Technology and content		1,065			1,146			1,729			2,181
General and administrative		3,461			2,625			5,640			4,709
(2) Includes amortization as follows:
Amortization of internal use software costs included in	€	31		€	50		€	63		€	100
selling and marketing
Amortization of internal use software and website		1,167			992			2,320			1,922
development costs included in technology and content
Amortization of internal use software costs included in		86			161			171			325
general and administrative
Amortization of acquired technology included in		68			36			68			72
amortization of intangible assets
(3) Includes related party expense as follows:
Selling and marketing	€	52		€	31		€	73		€	88
Technology and content		13			13			27			85
General and administrative		-			(204)			-			22

See accompanying notes

3

trivago N.V.

Condensed consolidated statements of comprehensive income/(loss)

(€ thousands, unaudited)

		Three months ended			Six months ended
		June 30,			June 30,
		2021			2020			2021	2020
Net loss	€	(3,289)		€	(20,158)		€	(10,029)		€ (234,424)
Other comprehensive income/(loss):
Currency translation adjustments		7			(5)			(8)		29
Total other comprehensive income/(loss)		7			(5)			(8)	29
Comprehensive loss	€	(3,282)		€	(20,163)		€	(10,037)		€ (234,395)

See accompanying notes

4

trivago N.V.

Condensed consolidated balance sheets

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

ASSETS		As of			As of
	June 30, 2021		December 31, 2020
Current assets:
Cash and cash equivalents	€	193,659		€	208,353
Restricted cash		-			103
Accounts receivable, net of allowance for credit losses of €404 and €348		38,181			11,642
at June 30, 2021 and December 31, 2020, respectively
Accounts receivable, related party		15,188			2,969
Short-term investments		9,487			19,448
Tax receivable		8,790			7,839
Prepaid expenses and other current assets		16,456			10,438
Total current assets		281,761			260,792
Property and equipment, net		17,994			26,682
Operating lease right-of-use assets		49,953			86,810
Deferred income taxes		1			1
Other long-term assets		3,445			4,399
Intangible assets, net		170,153			169,550
Goodwill		287,736			282,664
TOTAL ASSETS	€	811,043		€	830,898
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	€	32,329		€	6,755
Income taxes payable		106			102
Deferred revenue		1,814			2,750
Payroll liabilities		3,162			2,983
Accrued expenses and other current liabilities		16,360			14,934
Operating lease liability		2,247			7,188
Total current liabilities		56,018			34,712
Operating lease liability		46,405			85,979
Deferred income taxes		41,663			42,176
Other long-term liabilities		3,232			3,514
Stockholders' equity:
Class A common stock, €0.06 par value - 700,000,000 shares
authorized, 69,259,299 and 55,967,976 shares issued and outstanding		4,155			3,358
as of June 30, 2021 and December 31, 2020, respectively
Class B common stock, €0.60 par value - 320,000,000 shares
authorized, 288,562,967 and 298,187,967 shares issued and		173,138			178,913
outstanding as of June 30, 2021 and December 31, 2020, respectively
Reserves		812,240			798,017
Contribution from Parent		122,307			122,307
Accumulated other comprehensive income/(loss)		(4)			4
Accumulated deficit		(448,111)			(438,082)
Total stockholders' equity		663,725			664,517
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	€	811,043		€	830,898

See accompanying notes

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