Airbnb Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 18% revenue growth and 19% GBV growth, with strong demand, product innovation, and expansion into hotels and experiences. Guidance for 2026 was raised, with adjusted EBITDA margin expected at least 35%, despite ongoing geopolitical headwinds.
Fiscal Year 2025
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Q4 2025 saw double-digit revenue and booking growth, driven by innovation in pricing, supply, and AI integration. Expansion into new markets and business lines, along with strong cash flow and share repurchases, position the company for accelerated growth in 2026.
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Revenue rose 10% year-over-year to $4.1B, with record adjusted EBITDA and strong U.S. growth. New offerings, AI integration, and international expansion fueled results, while Q4 guidance projects continued momentum and margin strength.
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The company is evolving from a vacation rental platform to a global travel and living ecosystem, prioritizing AI-native applications, community building, and expansion into new markets. AI will drive seamless user and host experiences, while new services and monetization strategies aim to unlock growth and reduce churn.
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Q2 2025 delivered strong growth in revenue, bookings, and profitability, driven by global expansion, new product launches, and strategic partnerships. Guidance anticipates continued growth, though at a slower rate due to tougher year-over-year comparisons.
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Q1 2025 delivered strong growth with $2.3B revenue and 8% more nights booked year-over-year. Expansion markets, especially Latin America, outpaced core regions, while U.S. growth softened amid macro uncertainty. Major new offerings and tech upgrades are set to launch in May.
Fiscal Year 2024
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Q4 2024 saw 12% revenue and bookings growth, with strong free cash flow and margin expansion. Investments in product upgrades, AI, and new business launches are set to drive further growth in 2025, despite near-term margin impacts from calendar and FX headwinds.
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Q3 2024 delivered 10% revenue growth to $3.7B, $1.4B net income, and strong free cash flow, driven by quality supply, product innovation, and expansion markets. Guidance anticipates further acceleration in Q4, with continued investment in growth and new services.
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Strong financial performance and stable travel demand set the stage for expansion beyond the core offering, with new products and services planned for upcoming releases. International growth, supply quality, and technology investments, including generative AI, are key priorities for driving future growth and diversification.
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Q2 2024 delivered 11% revenue growth, record free cash flow, and strong expansion in new markets. Shorter booking lead times and U.S. demand softness inform a cautious Q3 outlook, while investments in international growth and new offerings continue.