Executive Summary
December 2025 delivered exceptional performance with $87.7M in revenue, up 45% year-over-year. Growth was driven by holiday travel surge (Dec 20+) and the ongoing Google Flights placement advantage (since Dec 11, 2024). The OTA channel emerged as a major growth driver at +169% YoY, while funnel improvements at checkout reduced abandonment.
Findings
Google Flights traffic exploded following prominent placement in search results (started Dec 11, 2024). OTA is now the 4th largest revenue channel at $7.6M.
Payment-to-Conversion step jumped from 31.7% to 36.0%, indicating fewer abandons at the final step. This drove significant incremental bookings.
Nicer bundles now represent 52% of bundle revenue (up from 48% YoY). Customers are upgrading to mid-tier offerings more frequently.
Despite overall growth, email-attributed revenue dropped from $7.1M to $5.4M. Worth investigating whether this is a measurement shift or actual decline.
Period Comparison
| Metric | Dec 2025 | Dec 2024 | YoY | Nov 2025 | MoM |
|---|---|---|---|---|---|
| Revenue | $87.74M | $60.37M | +45.4% | $84.01M | +4.4% |
| Bookings | 213,884 | 154,413 | +38.5% | 205,494 | +4.1% |
| Sessions | 6,713,636 | 5,271,780 | +27.4% | 6,641,461 | +1.1% |
| Conversion Rate | 2.99% | 2.83% | +0.16pp | 2.89% | +0.10pp |
| Avg Booking Value | $410 | $391 | +4.9% | $409 | +0.3% |
Q4 2025 Trend
| Month | Sessions | Bookings | Revenue | CVR |
|---|---|---|---|---|
| October 2025 | 6,650,714 | 224,259 | $89.36M | 3.15% |
| November 2025 | 6,641,461 | 205,494 | $84.01M | 2.89% |
| December 2025 | 6,713,636 | 213,884 | $87.74M | 2.99% |
October had higher bookings due to holiday travel booking lead time. December shows recovery from November's Thanksgiving dip.
Conversion Funnel
| Step | Dec 2025 | Dec 2024 | Step CVR '25 | Step CVR '24 | Change |
|---|---|---|---|---|---|
| 1. Availability | 2,332,667 | 1,930,379 | 34.7% | 36.6% | -1.9pp |
| 2. Seats | 1,198,015 | 998,672 | 51.4% | 51.7% | -0.3pp |
| 3. Bags | 871,330 | 726,964 | 72.7% | 72.8% | -0.1pp |
| 4. Passengers | 650,500 | 521,234 | 74.7% | 71.7% | +3.0pp |
| 5. Extras | 582,304 | 479,616 | 89.5% | 92.0% | -2.5pp |
| 6. Payment | 557,303 | 470,484 | 95.7% | 98.1% | -2.4pp |
| Converted | 200,489 | 149,367 | 36.0% | 31.7% | +4.3pp |
Insights & Recommendations
December's strong performance was driven by multiple factors working together: the holiday travel surge, Google Flights visibility, and checkout improvements. However, the email channel decline warrants investigation.
Recommended Actions
Supporting Data
Channel Performance (Last-Click Attribution)
| Channel | Dec 2025 Rev | Dec 2025 Conv | Dec 2024 Rev | YoY |
|---|---|---|---|---|
| Organic Search | $28.25M | 59,691 | $18.81M | +50.2% |
| Direct | $26.88M | 66,555 | $16.06M | +67.4% |
| Paid Search | $17.89M | 36,861 | $16.51M | +8.3% |
| OTAs | $7.58M | 21,618 | $2.82M | +169% |
| $5.41M | 12,061 | $7.11M | -23.9% | |
| Referral | $644K | 1,304 | $373K | +72.6% |
| Paid Social | $258K | 614 | $111K | +133% |
Product Mix
Bundle Revenue Distribution
Total: $23.49M bundle revenue
Ancillary Revenue
| Product | Dec 2025 | Dec 2024 |
|---|---|---|
| Car Rental | $1.30M | $1.05M |
| Insurance | $795K | $586K |
| Bags | $329K | $239K |
| Seats | $3.4K | $3.8K |
Top Routes by Revenue (December 2025)
| Route | Origin Market | Dest Market | Conversions | Revenue | CVR |
|---|---|---|---|---|---|
| PVU → SNA | Hefty Markets | Destinations | 3,052 | $1.38M | 8.6% |
| PVD → RSW | The Big Ones | Hefty Markets | 1,909 | $1.33M | 6.8% |
| HPN → VRB | Hefty Markets | Destinations | 1,536 | $1.07M | 7.9% |
| CAK → MCO | The Big Ones | Destinations | 1,465 | $1.01M | 4.8% |
| PVD → MCO | The Big Ones | Destinations | 1,501 | $934K | 4.8% |
| CAK → RSW | The Big Ones | Hefty Markets | 1,162 | $779K | 5.4% |
| SNA → PVU | Destinations | Hefty Markets | 1,842 | $732K | 10.1% |
| BDL → LAS | The Big Ones | Destinations | 924 | $726K | 6.0% |
| BDL → RSW | The Big Ones | Hefty Markets | 1,053 | $706K | 6.0% |
| ORF → TPA | The Big Ones | Hefty Markets | 1,501 | $675K | 8.7% |
Pattern: Florida destinations (RSW, MCO, TPA, VRB) dominate. Northeast origins (PVD, BDL, CAK, HPN) show strong holiday demand. PVU↔SNA corridor is the highest-revenue route pair.
Technical Appendix
Methodology
- Data source:
breeze-airways.ga4_outputs.ga4_sessionsandga4_events - Attribution model: Last non-direct click (30-day lookback)
- Conversion defined as sessions with bookings > 0
- YoY comparison uses same calendar dates (Dec 1-31); day-of-week mix differs slightly
- Revenue includes all booking revenue; excludes taxes/fees
Known Anomalies
- Holiday Surge (Dec 20 - Jan 5): +35-50% expected sessions/bookings
- Google Flights Placement (Dec 11-18, 2024): ~20-30% WoW increase, then new baseline
- Google Flights Attribution Fix (Dec 16, 2024+): Improved tracking accuracy
- Page Path Bug (Dec 16-20, 2025): Path dimension unreliable; session/revenue unaffected
Data Freshness
December 2025 data is complete and final (72-hour stabilization window passed).
Query Cost
Total: ~$0.01 (2.1 GB scanned across 6 queries)