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NextTrip (NTRP) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Oct 15, 2026 · NextTrip (NTRP) Q2 FY27 earnings results →

Q2 FY27 Revenue down 28% year over year to $547K · 681¢ of every $1 of revenue lost · operating margin -606.8%

NextTrip made $547K in Q2 FY27 (-28% Y/Y). Operating margin -606.8%, net loss $3.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 15, 2026.

Revenue$547K
Year over year-28%
Operating margin-606.8%
Net earnings−$3.7M
Operating cash flow−$2.5M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $547K in Q2 FY27, down 28% year over year and down 62% from the previous quarter.

Gross margin was 32.2%, up 10.3 points from Q2 FY26. Operating costs exceeded revenue by $3.3M, an operating margin of -606.8%. Operating expenses grew 4% against a revenue fall of 28%. The quarter ended with a net loss of $3.7M, wider than the previous quarter's $3.1M loss.

Operating cash flow was −$2.5M. Non-cash charges added back $337K of depreciation and amortization. Working capital and other items added $927K.

Quarterly history

NextTrip revenue by quarterNextTrip revenue by quarter$83KQ4 FY25$139KQ1 FY26$758KQ2 FY26$1.2MQ3 FY26$1.6MQ4 FY26$1.5MQ1 FY27$547KQ2 FY27
NextTrip net earnings by quarterNextTrip net earnings by quarter−$4.6MQ4 FY25−$4.5MQ1 FY26−$2.9MQ2 FY26−$3.3MQ3 FY26−$5.3MQ4 FY26−$3.1MQ1 FY27−$3.7MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QOct 15, 2026$547K-28%-606.8%−$3.7M−$2.5M
Q1 FY2710-QJul 15, 2026$1.5M+946%-200.7%−$3.1M−$2.3M
Q4 FY2610-KMay 29, 2026$1.6M19×-335.9%−$5.3M−$2.1M
Q3 FY2610-QJan 14, 2026$1.2M16×-257.0%−$3.3M−$2.0M
Q2 FY2610-QOct 15, 2025$758K+390%-422.7%−$2.9M$572K
Q1 FY2610-QJul 15, 2025$139K-26%n/m−$4.5M−$1.0M
Q4 FY2510-KMay 29, 2025$83K-59%n/m−$4.6M−$1.9M

Charts

NextTrip: revenue growth, year over year and quarter over quarterNextTrip: revenue growth, year over year and quarter over quarterY/YQ/Q-59%Q4 FY25-26%+66%Q1 FY26+390%+400%Q2 FY26+400%+58%Q3 FY26+400%+35%Q4 FY26+400%-10%Q1 FY27-28%-62%Q2 FY27
Latest (Q2 FY27): Y/Y -28%, Q/Q -62%.
NextTrip: where the cash came from (+) and went (−), TTM to Q2 FY27NextTrip: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow−$8.9MShares issued$5.0MOther financing$4.4MOther investing−$1.2MCash drawn (+) / kept (−)$693K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
NextTrip: profit against cash, quarter by quarterNextTrip: profit against cash, quarter by quarterNet incomeOperating cash flow−$2.0M−$1.2MQ3 FY25−$4.6M−$1.9MQ4 FY25−$4.5M−$1.0MQ1 FY26−$2.9M$572KQ2 FY26−$3.3M−$2.0MQ3 FY26−$5.3M−$2.1MQ4 FY26−$3.1M−$2.3MQ1 FY27−$3.7M−$2.5MQ2 FY27
Latest (Q2 FY27): Net income −$3.7M, Operating cash flow −$2.5M.
NextTrip: diluted shares by fiscal year (split-adjusted)NextTrip: diluted shares by fiscal year (split-adjusted)9MFY239MFY249MFY259MFY26
+4.0% since FY23: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY26, 20-for-1 split before FY25, 3-for-1 split before FY24.
NextTrip in its industry: growth against margin (14 companies, SIC 4700)NextTrip in its industry: growth against margin (14 companies, SIC 4700)revenue growth, year over year →↑ operating marginmedian +12%median 4%BKNGEXPEGXOXPORXOGMRSGBTGGATXLINDVRRMPALSRTASPCENTRP (-28%, -100%)
Transportation Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About NextTrip

NextTrip, Inc. (the “Company,” “NextTrip,” “we,” “us” and “our”) is a technology-forward travel and media company operating at the intersection of premium content and travel commerce. We believe the travel industry is undergoing a structural shift toward video-led discovery, personalized planning, and seamless booking experiences, where consumers increasingly move from inspiration to transaction within connected digital environments. Our strategy is designed to capture this shift. NextTrip combines premium travel content, global audience reach, proprietary booking technology, and concierge-supported travel services into a unified ecosystem designed to guide consumers across the full travel journey—from inspiration and discovery to planning, booking, and servicing.

In its own words, from its 10-K, filed May 29, 2026.

NextTrip against its Transportation Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -28% against the peers' median +12%. Operating margin: -606.8% against the peers' median 3.8%.

CompanyQuarterRevenueY/YOp. margin
NTRP NextTripQ2 FY27$547K-28%-606.8%
BKNG Booking HoldingsQ3 2026$8.9B-1%38.4%
EXPE Expedia GroupQ3 2026$4.9B+12%26.9%
GXO GXO LogisticsQ3 2026$3.6B+6%2.7%
XPO XPOQ3 2026$2.4B+12%12.1%
RXO RXOQ3 2026$1.9B+32%0.9%
GMRS GMR SolutionsQ2 2026$1.5B+3%3.8%
GBTG Global Business Travel GroupQ2 2026$870M+38%2.8%
GATX GatxQ3 2026$598M+36%32.2%

Source: NextTrip 10-Q on SEC EDGAR · CIK 788611 · Transportation Services

13F: who owns NTRP and who is buying

Largest holders of NTRP (13F)Largest holders of NTRP (13F)Armistice Capital, LLC$860KVanguard Capital Management LLC$481KHighTower Advisors, LLC$410KGeode Capital Management, LLC$241KVanguard Group$141KVanguard Fiduciary Trust$126KMarex Group$117KBlackRock$63KNorthern Trust$51KVirtu Financial LLC$41K
Funds' net buying of NTRP by quarter (13F)Funds' net buying of NTRP by quarter (13F)$02024-09−$1K2024-12$84K2025-03$92K2025-06$193K2025-09$3.3M2025-12−$188K2026-03−$168K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on NTRP

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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