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Mar 31, 2022
Airbnb Q1 2022 Earnings Report
Airbnb's Q1 2022 was marked by strong growth and profitability, driven by a surge in travel demand.
Key Takeaways
Airbnb's Q1 2022 revenue reached $1.5 billion, a 70% increase year-over-year, with a net loss of $19 million. Adjusted EBITDA was $229 million, marking the first profitable Q1. Nights and Experiences Booked surpassed 100 million for the first time, and free cash flow exceeded $1 billion.
Q1 revenue of $1.5 billion grew 70% year over year and exceeded pre-pandemic Q1 2019 revenue by 80%.
Q1 net loss of $19 million significantly improved from both Q1 2019 and Q1 2021.
Q1 Adjusted EBITDA of $229 million was the first profitable Q1.
Q1 free cash flow exceeded $1 billion.
Airbnb
Airbnb
Forward Guidance
Airbnb anticipates a strong summer travel season with Q2 2022 revenue between $2.03 billion and $2.13 billion and expects a low double-digit EBITDA margin percentage improvement year-over-year.
Positive Outlook
- Continuing strong demand coming out of North America, EMEA and Latin America.
- Number of nights stayed for the Easter holiday in April eclipse 2019 levels in Europe and Latin America.
- Substantial demand for summer travel months in EMEA and North America.
- Higher than historical demand for Q4 indicates that consumer confidence to travel remains strong beyond the summer months.
- U.S. domestic demand this year has so far outpaced internal expectations and U.S. international bookings exceeding 2019 levels.
Challenges Ahead
- Additional COVID outbreaks.
- Any impact to travel from the conflict in Ukraine.
- Consumer price sensitivity.
- Full year revenue and Adjusted EBITDA remain highly sensitive to movements in ADR.
- Continued fixed cost discipline may be offset by the impact of lower ADR.