YELP FY 2023 Earnings Report — Yelp Inc. Revenue & Financial Results | Market Cap Arena

FY 2023 Earnings

Reported February 27, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.2B	—	12.0%
Op. Income	$79M	—	$58M	—	35.5%
Gross Margin	91.5%	—	91.1%	—	0.3pp
Net Margin	7.4%	—	3.0%	—	4.4pp
EPS (Diluted)	$1.35	—	$0.50	—	170.0%
Free Cash Flow	$279M	—	$160M	—	74.3%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$114M
GROSS PROFIT	$1.2B
R&D Expenses	$333M
Selling & Marketing	$557M
General & Administrative	$212M
SG&A Expenses	$769M
Other Expenses	$42M
Operating Expenses	$1.1B
Cost & Expenses	$1.3B
OPERATING INCOME	$79M
Interest Income	$20M
Interest Expense	$0
Other Income/Expenses	$26M
INCOME BEFORE TAX	$105M
Income Tax Expense	$6M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$70M
EBIT	$79M
EBITDA	$149M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$114M
GROSS PROFIT	$1.2B
R&D Expenses	$333M
Selling & Marketing	$557M
General & Administrative	$212M
SG&A Expenses	$769M
Other Expenses	$42M
Operating Expenses	$1.1B
Cost & Expenses	$1.3B
OPERATING INCOME	$79M
Interest Income	$20M
Interest Expense	$0
Other Income/Expenses	$26M
INCOME BEFORE TAX	$105M
Income Tax Expense	$6M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$70M
EBIT	$79M
EBITDA	$149M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$99M
Depreciation & Amortization	$70M
Stock-Based Compensation	$173M
Deferred Income Tax	-$22M
Other Non-Cash Items	$88M
Change in Working Capital	-$102M
OPERATING CASH FLOW	$306M
Capital Expenditure	-$27M
Acquisitions (Net)	$0
Purchases of Investments	-$148M
Sales/Maturities of Investments	$120M
Other Investing Activities	$195.0K
NET CASH FROM INVESTING	-$55M
Net Debt Issuance	$0
Common Stock Repurchased	-$200M
Common Dividends Paid	$0
Other Financing Activities	-$47M
NET CASH FROM FINANCING	-$247M
FREE CASH FLOW	$279M
Net Change in Cash	$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$314M
Short-Term Investments	$132M
Net Receivables	$146M
Inventory	$0
Other Current Assets	$17M
TOTAL CURRENT ASSETS	$624M
PP&E (Net)	$117M
Goodwill	$104M
Intangible Assets	$8M
Long-Term Investments	$0
Tax Assets	$119M
Other Non-Current Assets	$42M
TOTAL NON-CURRENT ASSETS	$391M
TOTAL ASSETS	$1.0B
Account Payables	$12M
Short-Term Debt	$0
Deferred Revenue	$4M
Other Current Liabilities	$79M
TOTAL CURRENT LIABILITIES	$176M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$41M
TOTAL NON-CURRENT LIABILITIES	$89M
TOTAL LIABILITIES	$265M
Common Stock	$0
Additional Paid-In Capital	$1.8B
Retained Earnings	-$1.0B
Treasury Stock	-$282.0K
Accum. Other Comp. Income	-$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$750M
Minority Interest	$0
TOTAL EQUITY	$750M
TOTAL LIABILITIES & EQUITY	$1.0B
Total Debt	$87M
Net Debt	-$227M