Trivago N : Q1 2021 Financial Statements

Exhibit 99.3

trivago N.V.

Unaudited Condensed Consolidated Interim Financial Statements as of March 31, 2021

1

trivago N.V.

Condensed consolidated statements of operations (€ thousands, except per share amounts, unaudited)

	Three months ended March 31,
		2021			2020
Revenue	€	30,609		€	93,289
Revenue from related party		7,617			46,514
Total revenue		38,226			139,803
Costs and expenses:
Cost of revenue, including related party, excluding amortization (1)(3)		2,586			2,814
Selling and marketing, including related party (1)(2)(3)		23,337			111,377
Technology and content, including related party (1)(2)(3)		12,640			17,616
General and administrative, including related party (1)(2)(3)		8,515			15,305
Amortization of intangible assets (2)		-			325
Impairment of goodwill		-			207,618
Operating loss		(8,852)			(215,252)
Other income/(expense)
Interest expense		(56)			(46)
Other, net		906			(324)
Total other income/(expense), net		850			(370)
Loss before income taxes		(8,002)			(215,622)
Benefit for income taxes		(1,262)			(1,122)
Loss before equity method investment		(6,740)			(214,500)
Income from equity method investment		-			234
Net loss	€	(6,740)		€	(214,266)
Earnings per share available to common stockholders:
Basic	€	(0.02)		€	(0.61)
Diluted		(0.02)			(0.61)
Shares used in computing earnings per share:
Basic		355,861			352,773
Diluted		355,861			352,773

2

	Three months ended March 31,
		2021			2020
(1) Includes share-based compensation as follows:
Cost of revenue	€	50		€	50
Selling and marketing		226			332
Technology and content		664			1,035
General and administrative		2,178			2,084
(2) Includes amortization as follows:
Amortization of internal use software costs included in selling and marketing	€	32		€	50
Amortization of internal use software and website development costs included		1,153			930
in technology and content
Amortization of internal use software costs included in general and		85			164
administrative
Amortization of acquired technology included in amortization of intangible		0			36
assets
(3) Includes related party expense as follows:
Cost of revenue	€	-		€	-
Selling and marketing		21			57
Technology and content		14			72
General and administrative		-			226

See accompanying notes

3

trivago N.V.

Condensed consolidated statements of comprehensive income/(loss)

(€ thousands, unaudited)

	Three months ended March 31,
		2021			2020
Net loss	€	(6,740)		€	(214,266)
Other comprehensive income/(loss):
Currency translation adjustments		(15)			34
Total other comprehensive income/(loss)		(15)			34
Comprehensive loss	€	(6,755)		€	(214,232)

See accompanying notes

4

trivago N.V.

Condensed consolidated balance sheets

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

ASSETS		As of			As of
	March 31, 2021		December 31, 2020
Current assets:
Cash and cash equivalents	€	191,622		€	208,353
Restricted cash		103			103
Accounts receivable, net of allowance for credit losses of €420 and €348		16,197			11,642
at March 31, 2021 and December 31, 2020, respectively
Accounts receivable, related party		5,419			2,969
Short-term investments		19,713			19,448
Tax receivable		12,160			7,839
Prepaid expenses and other current assets		11,757			10,438
Total current assets		256,971			260,792
Property and equipment, net		19,581			26,682
Operating lease right-of-use assets		51,218			86,810
Deferred income taxes		1			1
Other long-term assets		3,554			4,399
Intangible assets, net		170,220			169,550
Goodwill		287,728			282,664
TOTAL ASSETS	€	789,273		€	830,898
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	€	10,355		€	6,755
Income taxes payable		105			102
Deferred revenue		2,316			2,750
Payroll liabilities		4,469			2,983
Accrued expenses and other current liabilities		15,240			14,934
Operating lease liability		2,659			7,188
Total current liabilities		35,144			34,712
Operating lease liability		47,129			85,979
Deferred income taxes		41,624			42,176
Other long-term liabilities		3,323			3,514
Stockholders' equity:
Class A common stock, €0.06 par value - 700,000,000 shares
authorized, 64,746,247 and 55,967,976 shares issued and outstanding		3,884			3,358
as of March 31, 2021 and December 31, 2020, respectively
Class B common stock, €0.60 par value - 320,000,000 shares
authorized, 292,062,967 and 298,187,967 shares issued and		175,238			178,913
outstanding as of March 31, 2021 and December 31, 2020, respectively
Reserves		805,457			798,017
Contribution from Parent		122,307			122,307
Accumulated other comprehensive income/(loss)		(11)			4
Accumulated deficit		(444,822)			(438,082)
Total stockholders' equity		662,053			664,517
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	€	789,273		€	830,898

See accompanying notes

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