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Mar 31, 2023
Airbnb Q1 2023 Earnings Report
Airbnb's Q1 2023 marked a strong start to the year with record Nights and Experiences Booked and first profitable Q1 on a GAAP basis.
Key Takeaways
Airbnb's Q1 2023 saw record Nights and Experiences Booked, reaching over 120 million. Revenue grew 20% year-over-year to $1.8 billion, and the company achieved its first profitable Q1 with a net income of $117 million. Free Cash Flow grew 32% year-over-year to $1.6 billion.
Nights and Experiences Booked hit a record high with over 120 million in Q1 2023.
Q1 revenue of $1.8 billion grew 20% year-over-year (24% ex-FX).
Q1 net income of $117 million marked the first profitable Q1 on a GAAP basis.
Free Cash Flow was $1.6 billion, growing 32% year-over-year.
Airbnb
Airbnb
Airbnb Revenue by Geographic Location
Revenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comLatin America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
Airbnb expects to deliver revenue of $2.35 billion to $2.45 billion in Q2 2023, representing year-over-year growth of between 12% and 16%.
Positive Outlook
- Implied take rate in Q2 2023 will be above Q2 2022.
- ADR continues to demonstrate greater than expected resilience, particularly in EMEA and North America.
- Continue to anticipate a full year Adjusted EBITDA margin that is broadly in-line with full-year 2022.
- Looking forward to another strong summer travel season.
- Deploying marketing earlier in the year than last year.
Challenges Ahead
- Nights and Experiences Booked will have unfavorable year-over-year comparisons in Q2 2023.
- Year-over-year growth in Nights and Experiences Booked in Q2 2023 is expected to be lower than revenue growth.
- Anticipate a slightly lower ADR in Q2 2023 than Q2 2022 driven by mix shifts and the introduction of new Host pricing tools.
- Expect Adjusted EBITDA to be similar to Adjusted EBITDA in Q2 2022 on a nominal basis, but lower on a margin basis.
- Anticipated year-over-year decline in Adjusted EBITDA margin is primarily driven by changes in the expected timing of marketing spend.