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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Enterprises like Cisco, Expedia, Reddit, and Synchrony Financial rely on Atlassian Corporation to power their most critical business processes and workflows.”
Atlassian names Expedia among marquee enterprise customers relying on its platform for critical workflows. Read-through is Expedia as an Atlassian customer.
“including Databricks, Expedia, Ford and Wells Fargo rely on Atlassian's AI-enabled cloud platform to power their business processes and mission-critical workflows”
Atlassian cites Expedia as a marquee customer relying on its AI-enabled cloud platform for mission-critical workflows.
“expanded our online presence through new partnerships with Expedia and Priceline”
Southwest added Expedia as a new distribution partner, expanding Expedia's airline inventory.
“launched Expedia, which continues to exceed our expectations.”
Southwest's new distribution partnership with Expedia is exceeding expectations, now representing roughly 5% of passenger volume with over half of that being net-new customers.
“we launched Expedia with results exceeding our expectations thus far”
Southwest's new distribution partnership with Expedia is outperforming expectations, bringing in new customers the airline hadn't reached through direct channels.
“Vrbo obviously had a very soft comp in terms of their business contracting in the US. Or globally in Q4 of 2023.”
Airbnb frames Vrbo's strong Q4 growth as coming off a soft prior-year comp, arguing Airbnb's own share gains in the non-urban US segments where they compete are more telling.
“We are working closely with Google and others as they are adapting their interfaces, making sure that our brands show up well”
Expedia is partnering closely with Google as it reshapes travel search interfaces with AI; Google is both a demand channel and a potential disintermediation risk as hotels can also transact direct.
“Obviously, last year, we added Southwest. We added Ryanair.”
Expedia added Ryanair as air supply on its platform, expanding the airline's distribution reach through the OTA.
“Obviously, last year, we added Southwest. We added Ryanair.”
Expedia added Southwest as air supply on its platform, expanding the airline's distribution reach through the OTA.
“in December, we announced our intent to acquire Tickets to broaden the activities we offer to our partners and their travelers.”
Expedia intends to acquire Tickets to expand its activities/experiences inventory for B2B partners, signaling consolidation in the travel-activities space.
“As we added more airlines this year with Southwest and Ryanair, that's improving the value proposition”
Expedia added Ryanair as a bookable airline this year, broadening its air inventory and strengthening its value proposition.
“As we added more airlines this year with Southwest and Ryanair, that's improving the value proposition”
Expedia added Southwest as a bookable airline this year, expanding its air supply and improving Brand Expedia's value proposition.
“forging tight partnerships with leading tech companies like Google, OpenAI and Perplexity”
Expedia names Perplexity among the AI/tech companies it is partnering with to keep its brands present in emerging Gen AI search experiences.
“We were a launch partner with ChatGPT's apps, and we'll continue to experiment with new Gen AI experiences.”
Expedia was a launch partner for OpenAI's ChatGPT apps, an early distribution integration for AI-driven travel discovery.
“forging tight partnerships with leading tech companies like Google, OpenAI and Perplexity”
Expedia frames Google as one of the leading tech companies it is partnering with to position its brands in AI-driven search and discovery.
“We're working with all the large tech players, Google, OpenAI, Meta and Microsoft, to name a few, to make sure that our brands appear prominently, and their value propositions are clear.”
Expedia is integrating with Microsoft's AI search/Copilot surfaces so its brands appear prominently, a read-through on Microsoft AI as a travel-booking funnel.
“We're working with all the large tech players, Google, OpenAI, Meta and Microsoft, to name a few, to make sure that our brands appear prominently, and their value propositions are clear.”
Expedia counts Meta among the large tech/AI and social platforms it partners with to capture emerging GenAI and social travel traffic.
“We're working with all the large tech players, Google, OpenAI, Meta and Microsoft, to name a few, to make sure that our brands appear prominently, and their value propositions are clear.”
Expedia is working with OpenAI so its brands surface in ChatGPT-style search/agentic experiences, a read-through on OpenAI becoming a travel-discovery channel.
Expedia capped FY2025 with Q4 revenue growing 11% to $3.5B and adjusted EPS of $3.78 up 58%, as all three consumer brands delivered growth for the second consecutive quarter. B$2B grew 24% with double-digit growth across all regions, and B2C margins expanded 6 points from significant marketing leverage. Free cash flow reached a record $3.1B with a 22% share count reduction since 2022, and management introduced FY2026 guidance of 6-9% revenue growth with 100-125 basis points of EBITDA margin expansion.
Competitive Dynamics | Demand | Margin | Revenue Growth | Cloud & AI | Innovation & R&D | Geographic Expansion | Macroeconomic | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 3 | 3 | 3 | 1 | 2 | 2 | |
| 2025Q1 | 5 | 7 | 3 | 1 | 1 | 1 | 1 | 4 |
| 2025Q2 | 7 | 3 | 3 | 2 | 2 | 2 | 2 | |
| 2025Q3 | 7 | 2 | 4 | 2 | 2 | 1 | 2 | |
| 2025Q4 | 5 | 3 | 3 | 4 | 2 | |||
| 2026Q1 | 8 | 10 | 1 | 4 | 3 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Competitive Dynamics | 4 | 5 | 7 | 7 | 5 | 8 |
| Demand | 3 | 7 | 3 | 2 | 10 | |
| Margin | 3 | 3 | 3 | 4 | 3 | 1 |
| Revenue Growth | 3 | 1 | 2 | 2 | 3 | 4 |
| Cloud & AI | 1 | 1 | 2 | 2 | 4 | 3 |
| Innovation & R&D | 2 | 1 | 2 | 1 | 2 | |
| Geographic Expansion | 2 | 1 | 2 | 2 | ||
| Macroeconomic | 4 | 3 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Deepak Mathivanan | Cantor Fitzgerald | 9 (0%) |
| Conor Cunningham | Melius Research | 8 (0%) |
| Naved Khan | B. Riley Securities |
| 8 (0%) |
| Justin Post | Bank of America | 7 (0%) |
| Jed Kelly | Oppenheimer | 7 (14%) |
| Lee Horowitz | Deutsche Bank | 6 (17%) |
| Eric Sheridan | Goldman Sachs | 5 (0%) |
| Mark Mahaney | Evercore ISI | 4 (0%) |
| Trevor Young | Barclays | 4 (0%) |
| Kevin Kopelman | TD Cowen | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Cantor Fitzgerald | 1 | 9 (0%) |
| B. Riley Securities | 1 | 8 (0%) |
| Melius Research | 1 | 8 (0%) |
| Oppenheimer | 1 | 7 (14%) |
| Bank of America | 1 | 7 (0%) |
| Deutsche Bank | 1 | 6 (17%) |
| Goldman Sachs | 1 | 5 (0%) |
| TD Cowen | 2 | 5 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
EXPE Expedia Group | 7 | +14.7% | |
| ABNB Airbnb | 9 | +17.9% | |
| BKNG Booking Holdings | 7 | +16.2% | |
| NCLH Norwegian Cruise Line Holdings | 6 | +9.6% | |
| RCL Royal Caribbean Group | 6 | +11.3% |