eDreams ODIGEO Grows Net Income Tenfold to €40.3 Million as Prime Reaches 7.8 Million Members

BARCELONA, Spain--(BUSINESS WIRE)--eDreams ODIGEO (the “Company” or “eDO”) (BME: EDR) (OTC: EDDRF), the world’s leading travel subscription platform, today reported its results for the first nine months of fiscal year 2026, ending 31 December 2025.

The Company reported strong performance for the nine-month period, driven by the growing maturity and increasing profitability of its subscription model. Adjusted EBITDA reached €138.4 million, representing a 74% increase compared to the same period last year with a substantial increase in profit margin. Prime membership grew by 13% year-on-year, increasing by 468,000 in the 9-month period, and has continued to scale to 7.8 million at the end of January, compared to 6.8 million last year. The sustained growth of the subscription business is fueled by the unique market proposition of its AI-led platform. Based on this delivery, eDreams ODIGEO remains fully on track to meet or exceed its full-year guidance for fiscal year 2026.

Investing for accelerated growth

eDO is currently in a high-conviction investment phase, part of a new multi-year strategic roadmap designed to deliver a platform for accelerated growth through fiscal year 2030. Building on a strong foundation, this strategy involves proactive investments in new product segments such as Rail, expansion into new international markets, and the roll-out of flexible monthly and quarterly payment options for the annual subscription fee.

This transition from a legacy flight-focused business to a fully diversified all-travel platform is designed to capture a significantly larger market share and higher-quality revenue streams. While these investments and the move to monthly instalments impact near-term metrics, the strategy is designed to scale the business to reach over 13 million Prime members and more than €270 million in Cash EBITDA by FY30. The Company expects this phase to yield record levels of new members, between 1.5 million and 2 million annually, between FY28 and FY30.

9M FY26 RESULTS HIGHLIGHTS

• Strong operational profitability growth: Adjusted EBITDA grew 74% to €138.4 million in the first nine months, again proving the strength of the underlying business. Net cash from operating activities rose by €31.1 million to €79.1 million.

• Subscriber growth: In the first nine months, the subscriber base increased by 13%, with 468,000 net adds, ensuring the Company remains on track to meet its full-year guidance of 600,000 new members.

• Revenue quality: Revenue Margin grew 3% to €502.8 million. Prime-related revenue now accounts for 75% of the Company's total Cash Revenue Margin, an 8-percentage-point increase over the last year.

• Shareholder commitment: The Company is committed to a €100 million share buyback over the next two years until September 2027. In 3Q FY26, the Company repurchased €23 million, and as of 3rd February, cancelled 12 million shares (9.4% of the share capital).

• Outlook reaffirmed: eDO is on track to meet or exceed its FY26 targets of 7.9 million members, €172.9 million in Adjusted EBITDA, and €155 million in Cash EBITDA. Looking ahead, eDO projects accelerating growth, targeting a 15-20% annual increase in Prime membership between FY27 and FY30.

Dana Dunne, CEO of eDreams ODIGEO, said: “Our results confirm that the robust, AI-powered foundation we have built has successfully transformed eDO from a legacy transactional business into the world’s leading travel subscription. We are now capitalising on this momentum to secure and sustain our long-term global leadership position by evolving into a truly comprehensive all-travel platform. By expanding our verticals and geographic footprint, we are evolving to own the entire traveller journey, and the relationship that comes with it.

Our planned and high-conviction investment phase is a deliberate choice to leverage our unique model and capture an even larger share of the global market. With our strategy’s inherent scalability and our proven track record of meeting ambitious long-term targets, we are firmly set to achieve 13 million members by 2030 and deliver a much better business: faster growing, more profitable, and more diversified.”

About eDreams ODIGEO

eDreams ODIGEO (FT: EDR:MCE) is the world’s leading travel subscription platform. It pioneered Prime, the first and largest travel subscription programme, which has reached over 7.8 million members since its launch in 2017. Prime members gain access to a comprehensive multi-product offering for all their travel needs—including hotels, rail, flights, dynamic packages, and car rentals—compounded by industry-leading flexibility features and exclusive, member-only benefits. This entire experience is powered by a proprietary, industry-leading AI platform that delivers hyper-personalised service to its members . Listed on the Spanish Stock Market, the Company operates in 44 markets through its brands eDreams, GO Voyages, Opodo, Travellink, and Liligo.