Stock Analysis on Net

Airbnb Inc. (NASDAQ:ABNB)

$24.99

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Airbnb Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Revenue
Cost of revenue
Gross profit
Operations and support
Product development
Sales and marketing
General and administrative
Restructuring charges
Income (loss) from operations
Interest income
Other income (expense), net
Income (loss) before income taxes
(Provision for) benefit from income taxes
Net income (loss)

Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


The financial performance presented demonstrates significant volatility over the observed period. Revenue initially experienced substantial growth from March 2021 to September 2021, followed by a decline in December 2021. Subsequent periods show fluctuating revenue figures, with a notable increase in the latter half of 2023 and into 2024, before decreasing again in late 2024 and early 2025. Cost of revenue generally tracks with revenue, but with some lag, and has been increasing in absolute terms over the period.

Gross Profit Trends
Gross profit mirrors the revenue trend, peaking in September 2021 and again in September 2023. The decline in revenue during December 2021 and December 2024 directly impacts gross profit. While gross profit generally increased from 2021 to 2023, it shows a decreasing trend in the most recent quarters.
Operating Expenses
Operating expenses, encompassing operations and support, product development, sales and marketing, and general and administrative costs, consistently represent a substantial portion of revenue. Product development and sales and marketing expenses have been steadily increasing, particularly in 2024 and 2025. A significant spike in general and administrative expenses is observed in December 2023, likely due to the restructuring charges recorded in the same period.
Income from Operations
Income from operations exhibits considerable fluctuation. A substantial loss is recorded in March 2021 and a smaller loss in June 2021. Profitability improves dramatically in September 2021, but declines again in December 2021. The period from June 2022 to September 2023 shows positive income from operations, peaking in September 2023. However, a significant loss is reported in December 2023, followed by a return to profitability in the subsequent quarters, though at lower levels than previously observed.
Net Income
Net income closely follows the trend of income from operations, influenced by interest income, other income/expense, and income tax provisions. A large net loss is recorded in March 2021. A substantial positive net income is observed in September 2023, largely driven by a significant benefit from income taxes. The December 2023 period shows a substantial net loss, again linked to the large general and administrative expense and a corresponding tax expense. Net income remains positive, but lower, in the most recent quarters.
Other Income and Expenses
Other income (expense), net, is highly variable. A large expense is recorded in March 2021, followed by smaller fluctuations. The impact of this item on overall profitability is significant, particularly in the earlier periods. The item appears to be less volatile in the later periods, but still contributes to fluctuations in net income.
Tax Provision
The provision for income taxes fluctuates significantly, shifting from expense to benefit. The large benefit recorded in September 2023 significantly impacts net income for that period. The tax provision is a key driver of net income variability.

Overall, the financial performance demonstrates a pattern of growth followed by periods of decline and volatility. Expense management and the impact of other income/expenses and tax provisions are critical factors influencing profitability. The recent trend suggests a potential slowdown in growth and increased cost pressures.