Travelzoo (TZOO) trades 4.5% lower following its Q1 report that beat on the bottom line. Total subscribers increased 9% to 21.8M. The firm's cash position appears to have slipped slightly with accounts receivable decreasing by $1.8M and account payable increasing by $8.8M compared to last year, contributing to a cash position of $48.6M at the end of the reporting period.
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