By Mireia Merino
(Reuters) -Shares of eDreams Odigeo fell more than 30% on Wednesday, on track for their worst single-day drop since October 2014, after the Spanish travel booking firm cut its earnings estimates for 2026 and 2027 the night before.
The Barcelona-based company revised its annual core earnings of 155 million euros ($179 million) for the year ending in March 2026 and 115 million euros for fiscal 2027, hit by slower growth in its prime subscription base and the adoption of flexible payment options.
Subscriber growth momentum has become a key focus for investors, said Sergio Avila, a senior analyst at brokerage firm IG. “If this slowdown is seen as a normalization after strong growth, the stock could recover. However, if it signals saturation, it faces further pressure,” he added.
The company introduced its subscription-based model in 2017, which has been pivotal to its post-pandemic recovery and profitability. However, a slowdown in quarterly subscription growth from 20% to 18% has raised investor concerns about potential revenue challenges.
Contacted by Reuters, eDreams declined to comment further on the matter.
According to Avila, the main risk for eDreams is more related to market expectations than its business model, as any sign of a slowdown in subscriptions, pressure on margins or a reduction in targets can trigger aggressive selling.
“eDreams ODIGEO is an asset for investors with tolerance for volatility and a multi-year horizon, not for those who want to sleep soundly while watching the price every day,” he said.
($1 = 0.8639 euros)
(Reporting by Mireia Merino in Gdansk; Editing by Milla Nissi-Prussak)
