Q1 2026¦ We expect to generate revenue of $2.59 billion to $2.63 billion vs $2.53B consensus, representing year-over-yeargrowth of 14% to 16%, inclusive of an approximate three point foreign exchange tailwind afterfactoring in our hedging program. We expect our implied take rate in Q1 2026 to be up slightlyyear-over-year.¦ We expect GBV to increase in the low teens year-over-year, driven by high-single-digit growthin Nights and Seats Booked and a moderate increase in ADR due to price appreciation and FX.¦ We expect Adjusted EBITDA Margin to be approximately flat year-over-year.
