Airbnb (ABNB) financial statements
Airbnb reported revenue of $12.2B in fiscal 2025, up 16.9% a year over 6 years.
Net income was $2.5B and the operating margin 20.8%, against -10.4% in 2019.
The diluted share count rose 139% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Airbnb's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $4.8B | $3.4B | $6.0B | $8.4B | $9.9B | $11.1B | $12.2B |
| Cost of revenue | $1.2B | $876M | $1.2B | $1.5B | $1.7B | $1.9B | $2.1B |
| Gross profit | $3.6B | $2.5B | $4.8B | $6.9B | $8.2B | $9.2B | $10.2B |
| Research and development | $977M | $2.8B | $1.4B | $1.5B | $1.7B | $2.1B | $2.4B |
| Selling, general and admin | $2.3B | $2.3B | $2.0B | $2.5B | $3.8B | $3.3B | $3.9B |
| Operating income | -$502M | -$3.6B | $429M | $1.8B | $1.5B | $2.6B | $2.5B |
| Pre-tax income | -$412M | -$4.7B | -$300M | $2.0B | $2.1B | $3.3B | $3.1B |
| Income tax | $263M | -$97M | $52M | $96M | -$2.7B | $683M | $626M |
| Net income | -$674M | -$4.6B | -$352M | $1.9B | $4.8B | $2.6B | $2.5B |
| Diluted shares | 261M | 284M | 616M | 680M | 662M | 645M | 623M |
| Gross margin | 75.1% | 74.1% | 80.7% | 82.2% | 82.8% | 83.1% | 83.0% |
| Operating margin | -10.4% | -106.3% | 7.2% | 21.5% | 15.3% | 23.0% | 20.8% |
| Net margin | -14.0% | -135.7% | -5.9% | 22.5% | 48.3% | 23.9% | 20.5% |
Balance sheet
Fiscal years, from Airbnb's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2.0B | $6.4B | $8.3B | $9.6B | $10.1B | $10.6B | $11.0B |
| Receivables | — | — | — | — | — | — | $186M |
| Total current assets | — | $8.9B | $12.4B | $14.9B | $16.5B | $17.2B | $18.8B |
| Property, plant and equipment | — | $270M | $157M | $121M | $160M | $147M | $107M |
| Goodwill | $652M | $656M | $653M | $650M | $752M | $750M | $754M |
| Total assets | — | $10.5B | $13.7B | $16.0B | $20.6B | $21.0B | $22.2B |
| Total current liabilities | — | $5.1B | $6.4B | $8.0B | $9.9B | $10.2B | $13.6B |
| Long-term debt | — | $1.8B | $2.0B | $2.0B | $2.0B | $2.0B | $0 |
| Total liabilities | — | $7.6B | $8.9B | $10.5B | $12.5B | $12.5B | $14.0B |
| Shareholders' equity | -$808M | $2.9B | $4.8B | $5.6B | $8.2B | $8.4B | $8.2B |
| Net debt | -$2.0B | -$3.7B | -$4.1B | -$5.4B | -$4.9B | -$4.9B | -$4.6B |
Cash flow
Fiscal years, from Airbnb's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $223M | -$740M | $2.3B | $3.4B | $3.9B | $4.5B | $4.6B |
| Capital spending | $125M | $37M | $25M | $25M | — | — | — |
| Free cash flow | $97M | -$777M | $2.3B | $3.4B | — | — | — |
| Stock-based compensation | $98M | $3.0B | $899M | $930M | $1.1B | $1.4B | $1.6B |
| Share buybacks (net) | — | $0 | $0 | -$1.5B | -$2.3B | -$3.4B | -$3.8B |
| Net borrowing | $0 | -$5M | -$2.0B | $0 | $0 | — | — |
| Free cash flow margin | 2.0% | -23.0% | 38.2% | 40.5% | — | — | — |
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What was Airbnb's revenue in 2025?
$12.2B in fiscal 2025, from its 10-K filing.
From Airbnb's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.