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trivago N.V.

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2025 · Filed Feb 26, 2026

TRVG$3.73+3.6%Stored close · as of Nov 6, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

Form 20-F

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number:001-37959

(Exact name of Registrant as specified in its charter)

trivago Corporation

(Translation of Registrant’s name into English)

The Netherlands

(Jurisdiction of incorporation or organization)

Kesselstraße 5 - 7,40221 Düsseldorf, Federal Republic of Germany

(Address of principal executive offices)

Johannes Thomas,+49 211 3876840000, Kesselstraße 5 - 7,40221 Düsseldorf, Federal Republic of Germany

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbolName of each exchange on which registered
American Depositary Shares, each representing five Class A shares, nominal value €0.06 per shareTRVGThe NASDAQ Stock Market LLC
Class A shares, nominal value €0.06 per share*The NASDAQ Stock Market LLC*
*Not for trading, but only in connection with the registration of the American Depositary Shares (ADSs).

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report:

115,621,475 Class A shares

237,476,895 Class B shares

(as of December 31, 2025)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☐ Yes☒ No

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.☐ Yes☒ No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

☒ Yes ☐ No

Indicate by check mark whether the registrant is a "large accelerated filer," an "accelerated filer," a "non-accelerated filer" or an "emerging growth company."

Large accelerated filer☐ Accelerated filer ☒ Non-accelerated filer☐ Emerging growth company☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ Yes☐ No

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP xInternational Financial Reporting Standards as issued by theInternational Accounting Standards Board oOther o

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow:

☐ Item 17☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐ Yes☒ No

Table of contents

Page
General1
Special note regarding forward-looking statements1
Summary of our risk factors3
PART I
Item 1Identity of directors, senior management and advisers5
Item 2Offer statistics and expected timetable5
Item 3Key information5
Item 4Information on the company36
Item 4AUnresolved staff comments48
Item 5Operating and financial review and prospects48
Item 6Directors, senior management and employees66
Item 7Major shareholders and related party transactions82
Item 8Financial information87
Item 9Offer and listing87
Item 10Additional information88
Item 11Quantitative and qualitative disclosures about market risk117
Item 12Description of securities other than equity securities117
PART II
Item 13Defaults, dividend arrearages and delinquencies119
Item 14Material modifications to the rights of securities holders119
Item 15Control and procedures119
Item 16AAudit committee financial expert121
Item 16BCode of ethics121
Item 16CPrincipal accountant fees and services122
Item 16DExemptions from the listing requirements and standards for audit committees122
Item 16EPurchases of equity securities by the issuer and affiliated purchasers122
Item 16FChange in registrant's certifying accountant122
Item 16GCorporate governance123
Item 16HMine safety disclosure125
Item 16IDisclosure regarding foreign jurisdictions that prevent inspections125
Item 16JInsider trading policies125
Item 16KCybersecurity125
PART III
Item 17Financial statements128
Item 18Financial statements128
Item 19Exhibits129
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.