ABNB

MKT CAP:$85B

Airbnb, Inc.

Market Cap

$85B

Consumer Cyclical·Travel Services·🇺🇸 United States·NASDAQ

Consumer Cyc.·Travel Services·🇺🇸·NASDAQ

Stock Price

$142.39+$9.38 (+7.05%)

Apr 24, 2026

Company Details

Airbnb, Inc., together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spac...

CEO

Brian Chesky

IPO Date

Dec 10, 2020

Website

www.airbnb.com

Key Metrics TTM

Revenue

$12.2B

+10.3% YoY

Net Income

$2.5B

EPS (Diluted)

$4.03

Free Cash Flow

$4.6B

Revenue / Share

$19.65

Gross Margin

83.0%

Operating Margin

20.8%

Net Margin

20.5%

FCF Margin

37.8%

P/S

7.0x

P/E

34.0x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 12, 2026

$12.2B+10.3%EPS $4.03

Q4 2025

Feb 12, 2026

$2.8B+12.0%EPS $0.54

Q3 2025

Nov 6, 2025

$4.1B+9.7%EPS $2.21

Q2 2025

Aug 6, 2025

$3.1B+12.7%EPS $1.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$1.5B	$1.2B	$76M
Q2 22	$2.1B	$1.7B	$369M
Q3 22	$2.9B	$2.5B	$1.2B
Q4 22	$1.9B	$1.6B	$235M
Q1 23	$1.8B	$1.4B	-$5M
Q2 23	$2.5B	$2.1B	$523M
Q3 23	$3.4B	$2.9B	$1.5B
Q4 23	$2.2B	$1.8B	-$496M
Q1 24	$2.1B	$1.7B	$101M
Q2 24	$2.7B	$2.2B	$497M
Q3 24	$3.7B	$3.3B	$1.5B
Q4 24	$2.5B	$2.1B	$430M
Q1 25	$2.3B	$1.8B	$38M
Q2 25	$3.1B	$2.6B	$612M
Q3 25	$4.1B	$3.5B	$1.6B
Q4 25	$2.8B	$2.3B	$269M

Valuation

Quarter	P/S	P/E
Q4 21	18.3x	—
Q2 22	9.0x	54.0x
Q3 22	7.6x	26.8x
Q4 22	6.7x	28.8x
Q1 23	8.9x	38.0x
Q2 23	9.3x	36.8x
Q3 23	9.1x	16.0x
Q4 23	9.0x	18.7x
Q1 24	10.1x	21.0x
Q2 24	9.1x	19.8x
Q3 24	7.3x	43.0x
Q4 24	7.4x	31.0x
Q1 25	6.6x	29.2x
Q2 25	7.1x	31.3x
Q3 25	6.3x	28.7x
Q4 25	6.9x	33.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$381M	$376M
Q2 22	$801M	$796M
Q3 22	$966M	$960M
Q4 22	$463M	$454M
Q1 23	$1.6B	$1.6B
Q2 23	$909M	$900M
Q3 23	$1.3B	$1.3B
Q4 23	$63M	$93M
Q1 24	$1.9B	$1.9B
Q2 24	$1.1B	$1.1B
Q3 24	$1.1B	$1.1B
Q4 24	$466M	$466M
Q1 25	$1.8B	$1.8B
Q2 25	$975M	$952M
Q3 25	$1.4B	$1.4B
Q4 25	$526M	$533M

Capital Expenditures

Quarter	CapEx
Q4 21	$4M
Q2 22	$5M
Q3 22	$6M
Q4 22	$8M
Q1 23	$6M
Q2 23	$9M
Q3 23	$15M
Q4 23	$30M
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$23M
Q3 25	$0
Q4 25	$7M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+78.3%	-63.2%
Q2 22	+137.2%	+30.1%
Q3 22	+116.0%	+21.2%
Q4 22	-15.0%	+20.3%
Q1 23	+18.7%	+25.2%
Q2 23	+18.1%	+13.0%
Q3 23	+17.8%	+13.1%
Q4 23	+16.6%	+62.8%
Q1 24	+17.8%	+12.0%
Q2 24	+10.6%	+14.8%
Q3 24	+9.9%	+16.1%
Q4 24	+11.8%	-24.5%
Q1 25	+6.1%	+9.5%
Q2 25	+12.7%	+10.4%
Q3 25	+9.7%	+11.9%
Q4 25	+12.0%	+22.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$226M	14.7%
Q2 22	$247M	11.7%
Q3 22	$234M	8.1%
Q4 22	$254M	13.3%
Q1 23	$240M	13.2%
Q2 23	$304M	12.2%
Q3 23	$286M	8.4%
Q4 23	$290M	13.1%
Q1 24	$295M	13.8%
Q2 24	$382M	13.9%
Q3 24	$362M	9.7%
Q4 24	$368M	14.8%
Q1 25	$358M	15.8%
Q2 25	$424M	13.7%
Q3 25	$399M	9.7%
Q4 25	$411M	14.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 21	$368M	$217M	$351M
Q2 22	$375M	$244M	$379M
Q3 22	$366M	$240M	$384M
Q4 22	$398M	$256M	$408M
Q1 23	$420M	$243M	$450M
Q2 23	$451M	$275M	$486M
Q3 23	$419M	$304M	$403M
Q4 23	$432M	$1.2B	$424M
Q1 24	$475M	$287M	$514M
Q2 24	$519M	$315M	$573M
Q3 24	$524M	$335M	$514M
Q4 24	$538M	$248M	$547M
Q1 25	$568M	$294M	$563M
Q2 25	$610M	$307M	$691M
Q3 25	$587M	$330M	$639M
Q4 25	$589M	$411M	$695M

Revenue Segments

Quarter	Reportable Segment
Q1 25	$2.3B
Q2 25	$3.1B
Q3 25	$4.1B
Q4 25	$2.8B

Revenue by Geography

Quarter	Non-US	United States	France	Asia Pacific	Emea	Latin America	North America
Q2 22	$1.1B	$1.0B	—	—	—	—	—
Q3 22	$1.4B	$1.2B	$310M	—	—	—	—
Q1 23	—	—	—	$200M	$458M	$235M	$925M
Q2 23	—	—	—	$188M	$941M	$163M	$1.2B
Q3 23	—	—	—	$208M	$1.5B	$178M	$1.5B
Q4 23	—	—	—	$244M	$683M	$248M	$1.0B
Q1 24	—	—	—	$253M	$567M	$307M	$1.0B
Q2 24	—	—	—	$207M	$1.0B	$185M	$1.3B
Q3 24	—	—	—	$235M	$1.7B	$199M	$1.6B
Q1 25	—	—	—	$278M	$597M	$343M	$1.1B
Q2 25	—	—	—	$255M	$1.2B	$231M	$1.4B
Q3 25	—	—	—	$272M	$2.0B	$235M	$1.6B
Q4 25	—	—	—	$351M	$930M	$351M	$1.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$6.9B	$2.4B	$9.3B
Q2 22	$7.8B	$2.1B	$9.9B
Q3 22	$7.5B	$2.1B	$9.6B
Q4 22	$7.4B	$2.2B	$9.6B
Q1 23	$8.2B	$2.4B	$10.6B
Q2 23	$7.9B	$2.4B	$10.3B
Q3 23	$8.2B	$2.8B	$11.0B
Q4 23	$6.9B	$3.2B	$10.1B
Q1 24	$7.9B	$3.3B	$11.1B
Q2 24	$7.9B	$3.4B	$11.3B
Q3 24	$7.7B	$3.6B	$11.3B
Q4 24	$6.9B	$3.7B	$10.6B
Q1 25	$7.6B	$3.9B	$11.5B
Q2 25	$7.4B	$4.0B	$11.4B
Q3 25	$7.6B	$4.2B	$11.7B
Q4 25	$6.6B	$4.5B	$11.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	681M	-0.1%	+14.6%
Q2 22	684M	+0.5%	+13.8%
Q3 22	680M	-0.6%	+11.2%
Q4 22	672M	-1.2%	-1.5%
Q1 23	670M	-0.3%	-1.6%
Q2 23	665M	-0.7%	-2.8%
Q3 23	660M	-0.8%	-2.9%
Q4 23	638M	-3.3%	-5.1%
Q1 24	654M	+2.5%	-2.4%
Q2 24	649M	-0.8%	-2.4%
Q3 24	642M	-1.1%	-2.7%
Q4 24	623M	-3.0%	-2.4%
Q1 25	632M	+1.4%	-3.4%
Q2 25	626M	-0.9%	-3.5%
Q3 25	621M	-0.8%	-3.3%
Q4 25	623M	+0.3%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$249.9K	6K
Q2 22	$343.1K	6K
Q3 22	$470.3K	6K
Q4 22	$279.2K	7K
Q1 23	$266.9K	7K
Q2 23	$364.7K	7K
Q3 23	$498.8K	7K
Q4 23	$321.1K	7K
Q1 24	$310.1K	7K
Q2 24	$397.9K	7K
Q3 24	$540.3K	7K
Q4 24	$339.7K	7K
Q1 25	$311.2K	7K
Q2 25	$424.1K	7K
Q3 25	$561.0K	7K
Q4 25	$338.8K	8K

Revenue / Employee