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Mar 31
Airbnb Q1 2025 Earnings Report
Airbnb reported solid performance with growing bookings and strong cash flow despite a decline in net income.
Key Takeaways
Airbnb delivered $2.3B in revenue and $154M in net income for Q1 2025. Bookings and gross booking value rose year-over-year, and free cash flow remained strong at $1.8B, though net income declined due to higher stock-based compensation and investment write-downs.
Revenue reached $2.3 billion, up 6% from the prior year.
Net income declined to $154 million due to higher compensation expenses and investment losses.
Nights and Experiences Booked hit 143.1 million, a new high for Q1.
Free cash flow remained strong at $1.8 billion, with a margin of 78%.
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 solid Q2 2025 performance, forecasting up to $3.05B in revenue with increased marketing and product investments.
Positive Outlook
- Q2 revenue projected between $2.99B to $3.05B, up 9–11% YoY.
- Continued strong demand in Latin America, the fastest growing region.
- Adjusted EBITDA expected to increase year-over-year.
- ADR anticipated to be flat YoY, stabilizing price dynamics.
- Summer Release and new growth initiatives to support future expansion.
Challenges Ahead
- Marketing expenses to grow faster than revenue in Q2.
- Adjusted EBITDA margin expected to be flat or slightly down.
- Softer demand in the U.S. due to broader economic uncertainty.
- Increased stock-based compensation affecting profitability.
- Expected heavier margin impact from new business launches in H2.