Skift Take
A bunch of companies that pledge to break even or better on an adjusted EBITDA basis this year will actually be in the red using more standard financial measures. These financial makeovers are very much in vogue.
HomeToGo, the Germany-based vacation rental business that went public in Frankfurt in 2021, said this week that it has started strongly in 2023 and is on track to break even this year.
One reason for the optimism is the company announced Wednesday that it had a much greater backlog of bookings at the beginning of 2023 than a year earlier. The booking backlog of $34.5 million (euro 32.5 million) as 2023 kicked off amounted to a 72 percent year-over-year increase.
Chief financial officer Steffen Schneider told Skift HomeToGo took numerous steps to get to the point where it would break even on an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) basis this year.
"One key pie