Who Owns NextTrip Company?

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Who Owns NextTrip?

Understanding NextTrip, Inc.'s ownership is key to grasping its strategic path. A significant shift occurred in December 2023 with a reverse acquisition, leading to the company rebranding as NextTrip, Inc. in March 2024.

This strategic move transformed the publicly traded entity, now on NASDAQ under NTRP, into a travel technology innovator. As of August 2025, NextTrip's market capitalization hovers between $30.37 million and $31.4 million.

The ownership structure has evolved significantly, influenced by early investors and recent equity dealings. This evolution impacts its governance and strategic direction.

NextTrip, Inc. offers Software as a Service (SaaS) solutions for travel distribution and bookings, covering hotels and flights for both business and consumer markets. For a deeper understanding of its market environment, consider the NextTrip PESTEL Analysis.

The current structure of NextTrip, Inc. was established through a reverse acquisition in December 2023. This transaction involved NextTrip Holdings Inc. being acquired by Sigma Additive Solutions, Inc., a company originally founded in 1985. While the 1985 date signifies the origin of the acquiring entity's predecessor, the modern travel technology platform's vision is largely credited to the leadership and early investors of NextTrip Holdings Inc.

Founding Vision

The core vision for the current travel technology platform is attributed to the founders and early investors of NextTrip Holdings Inc. This entity was acquired in December 2023.

Acquisition Structure

NextTrip Holdings Inc. was acquired by Sigma Additive Solutions, Inc. through a reverse acquisition. This involved an exchange of capital stock for shares of Sigma common stock.

Post-Acquisition Ownership

Existing Sigma holders retained approximately 9.8% of total outstanding shares post-acquisition. This was contingent on achieving certain business performance milestones.

Shift in Control

The share exchange structure significantly transferred control to the stakeholders of the original NextTrip Holdings Inc. This indicates a substantial shift in ownership.

Early Investment

David Jiang is recognized as a founding investor, highlighting his early financial commitment and belief in the company's potential.

Leadership Continuity

Bill Kerby, the current CEO, is a central figure from the acquired NextTrip entity, bringing significant experience to the company's leadership.

While the precise initial equity distribution for the privately held NextTrip Holdings Inc. is not publicly disclosed, the substantial share exchange during the reverse acquisition in December 2023 clearly indicates that the majority of ownership and control transitioned to the original founders and investors of NextTrip Holdings Inc. This move effectively positioned the NextTrip stakeholders at the helm of the newly combined entity. Understanding the Marketing Strategy of NextTrip can provide further insight into the company's direction under this new ownership structure.

Key Ownership Details

The reverse acquisition in December 2023 resulted in NextTrip Holdings Inc. becoming the primary operational entity. This transaction significantly altered the ownership landscape.

• NextTrip Holdings Inc. was acquired by Sigma Additive Solutions, Inc.
• Existing Sigma shareholders retained approximately 9.8% of pro forma shares.
• Milestone earnouts influenced the final share allocation.
• Control largely transitioned to NextTrip Holdings stakeholders.

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The ownership structure of NextTrip, Inc. experienced a significant shift with the reverse acquisition of NextTrip Holdings Inc. by Sigma Additive Solutions, Inc. on December 29, 2023. This transaction, valued at approximately $50 million and conducted as an all-stock deal, led to NextTrip Holdings becoming a wholly-owned subsidiary. Subsequently, Sigma Additive Solutions rebranded to NextTrip, Inc. in March 2024, marking a new chapter for the company.

As of August 15, 2025, NextTrip (NASDAQ: NTRP) exhibits a strong insider presence in its ownership. Donald P. Monaco, the Chairman, holds a significant stake of 1,554,988 shares, representing 19.0% of the company. Collectively, all executive officers and directors command a substantial 3,905,407 shares, equating to 47.6% of the outstanding common stock, which underscores considerable insider control over the company's direction. This concentration of ownership among leadership aligns management with the company's strategic objectives, as detailed in their Mission, Vision & Core Values of NextTrip.

Key Stakeholders and Their Holdings

The company's ownership landscape is shaped by both individual and institutional investors. These stakeholders play a crucial role in the company's corporate governance and future growth.

• Donald P. Monaco (Chairman): 1,554,988 shares (19.0%) as of August 15, 2025.
• William Kerby (CEO): 1,337,704 shares (17.48%) as of a recent report.
• Carl I. Schwartz: 1,040,000 shares (13.59%).
• Executive Officers and Directors (Group): 3,905,407 shares (47.6%) as of August 15, 2025.
• David Jiang (Founding Investor): Invested $1.9 million in preferred stock from October 2024 to February 2025.
• Key Institutional Investors: UBS Group AG, Geode Capital Management, LLC, Fidelity Extended Market Index Fund (FSMAX), Vanguard Extended Market Index Fund Investor Shares (VEXMX), and Promethean Tv, Inc. (as of March-August 2025 filings).

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The current Board of Directors for NextTrip, Inc. is instrumental in guiding the company's strategic direction and reflects its ownership structure. As of July 28, 2025, the board comprises Don Monaco as Chairman, Bill Kerby as CEO & Director, and Directors Andy Kaplan, David Jiang, Carmen Diges, Jimmy Byrd, and Steve Kircher. This board composition was finalized following a recent transition that integrated new directors and aligned the board under NextTrip's leadership.

The alignment between NextTrip's leadership and its major shareholders is clearly demonstrated by the board's composition. Donald P. Monaco, the Chairman, is also the largest individual shareholder with a 19.0% stake, and CEO Bill Kerby holds a substantial 17.48%. Director David Jiang, a founding investor, has also made significant investments. Collectively, all executive officers and directors hold 47.6% of the company's shares as of August 2025, indicating considerable voting power and control over strategic decisions. The period of 2024-2025 has not seen any significant proxy battles or activist campaigns that would alter this control structure, suggesting a stable governance environment dominated by insiders.

Understanding NextTrip Ownership and Governance

The ownership of NextTrip is closely tied to its executive leadership and board members, who collectively hold a significant portion of the company's shares. This concentration of ownership among insiders influences the company's strategic direction and governance.

• Donald P. Monaco is the largest individual shareholder at 19.0%.
• CEO Bill Kerby holds 17.48% of the company's shares.
• Executive officers and directors together control 47.6% of the company's shares.
• The board composition reflects a recent alignment with NextTrip's leadership.
• Recent periods show a stable control environment with no major activist interventions.

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Over the past few years, NextTrip, Inc. has undergone significant structural changes impacting its ownership. A key event was the reverse acquisition by Sigma Additive Solutions, Inc. in December 2023, which subsequently led to the rebranding as NextTrip, Inc. in March 2024, altering the shareholder landscape.

Recent developments indicate a strategic expansion and restructuring of NextTrip, Inc.'s ownership. The company has focused on acquiring full control of subsidiaries, such as achieving 100% ownership of Five Star Alliance in April 2025. Further diversification occurred with the August 2025 acquisition of TA Pipeline, LLC, a move expected to add approximately $8 million in revenue for 2025. Strategic alliances have also been formed, including a partnership with KC Global Media in August 2025 to extend the JOURNY travel brand into Southeast Asia, and a collaboration with Nuitée to enhance lodging services. These moves suggest a strategy of consolidating and expanding market presence through both acquisition and partnership, which can be further understood by examining the Revenue Streams & Business Model of NextTrip.

Insider Confidence

Insiders have demonstrated confidence by purchasing more shares than they have sold in the last three months. Executive officers and directors held a significant 47.6% of outstanding shares as of August 2025.

Shareholder Dilution and Funding

The company experienced substantial shareholder dilution, with total shares outstanding increasing by 748.3% in the past year. In May 2025, NextTrip secured $3 million via a line of credit from Monaco Investment Partners II, LP.

Regulatory and Listing Concerns

In October 2024, the company received notifications regarding potential delisting from NASDAQ due to equity levels falling below the required $2.5 million minimum. This coincided with delayed financial reporting.

Institutional Ownership

While institutional ownership is present, it represents a small portion of the total shares. Some mutual funds were observed to decrease their holdings in early 2025.

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