Here are some of Vacasa’s financials:
Financial and Business Highlights
• Achieved Record Gross Booking Value and Revenue. For the full year 2021, Vacasa generated a record $1.9 billion of Gross Booking Value, up 105% year-over-year, driving Revenue of $889 million, more than $130 million ahead of the initial target outlined in July 2021.
• Extended Scale and National Leadership Position. Vacasa finished 2021 with approximately 37,000 homes on its platform, up more than 60% year-over-year, extending its position as North America’s leading vacation rental management platform.
• Expanded Sales Capacity. Over the course of 2021, Vacasa added about 200 new sales executives, more than doubling the size of its sales force, and positioning it for continued growth in the years ahead.
• Launched Differentiated, Proprietary Technology Products. Vacasa’s nearly 200 engineers and product managers launched a number of new technology solutions during the past year, including the Vacasa Homeowner app, the clean inspection tool and the itinerary-based pricing algorithm, and announced the roll-out of its smart home management system.
• Raising Financial Outlook. For the full year 2022, Vacasa set its Revenue and Adjusted EBITDA guidance ahead of the targets it outlined in July 2021. Further, on the heels of recent solid execution and the success of growth investments, Vacasa expects to achieve Adjusted EBITDA profitability for the full year 2023.
Fourth Quarter and Full Year 2021 Financial Results and Key Business Metrics1
Fourth Quarter 2021 Financial Results as compared to Fourth Quarter 2020:
• Revenue was $192 million, a 76% year-over-year increase.
• Net Loss was $118 million, compared to $45 million.
• Adjusted EBITDA was negative $68 million, compared to negative $29 million.
Fourth Quarter 2021 Key Business Metrics as compared to Fourth Quarter 2020:
• Nights Sold were 1.1 million, a 55% year-over-year increase.
• Gross Booking Value per Night Sold was $347, a 27% year-over-year increase.
• Gross Booking Value was $379 million, a 96% year-over-year increase.
Full Year 2021 Financial Results as compared to Full Year 2020:
• Revenue was $889 million, a 81% year-over-year increase.
• Net Loss was $155 million, compared to $92 million.
• Adjusted EBITDA was negative $29 million, compared to negative $35 million.
Full Year 2021 Key Business Metrics as compared to Full Year 2020:
• Nights Sold were 5.2 million, a 72% year-over-year increase.
• Gross Booking Value per Night Sold was $371, a 19% year-over-year increase.
• Gross Booking Value was $1.9 billion, a 105% year-over-year increase.
“Our team executed extremely well last year delivering full year 2021 Revenue and Adjusted EBITDA ahead of the initial targets we provided in July 2021,” said Jamie Cohen, Chief Financial Officer of Vacasa. “Building on our success over the past year, we are raising our full year 2022 Revenue and Adjusted EBITDA outlook and expect to achieve positive Adjusted EBITDA next year.”
Financial Guidance
As of today, Vacasa is providing the following guidance for the first quarter and full year 2022. The guidance includes the expected recognition of an estimated $13 million of Revenue in the first quarter associated with the expiration and estimated breakage of future stay credits which Vacasa began to issue in March 2020 during the onset of the pandemic. The Revenue benefit will also flow through to Adjusted EBITDA. Vacasa also expects to deliver positive Adjusted EBITDA for the full year 2023