Stock Analysis on Net
Stock Analysis on Net

Airbnb Inc. (NASDAQ:ABNB)

$24.99

Income Statement

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

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
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
Interest expense
Other income (expense), net
Income (loss) before income taxes
(Provision for) benefit from income taxes
Net income (loss)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Revenue
There is a consistent and significant upward trend in revenue, increasing from $3,378 million in 2020 to $11,102 million in 2024, indicating strong growth in the company’s top-line performance over the five-year period.
Cost of Revenue
The cost of revenue also increases steadily, from $876 million in 2020 to $1,878 million in 2024. While the absolute costs rise, the increase is proportionally smaller than revenue growth, which contributes positively to gross profit expansion.
Gross Profit
Gross profit shows marked growth from $2,502 million in 2020 to $9,224 million in 2024. This reflects improved efficiency or pricing power, as gross margin expands in line with increasing revenue.
Operating Expenses
Operations and Support
Expenses in this category remain relatively stable initially but rise gradually from $878 million in 2020 to $1,282 million in 2024, consistent with the company scaling operations.
Product Development
Product development costs decline sharply from $2,753 million in 2020 to $1,425 million in 2021, then increase steadily to $2,056 million by 2024, indicating renewed or sustained investment in product innovation after an initial scaling back.
Sales and Marketing
These expenses increase consistently from $1,175 million in 2020 to $2,148 million in 2024, reflecting ongoing efforts to drive market penetration and support revenue growth.
General and Administrative
After a decrease from $1,135 million in 2020 to $835 million in 2021, this expense category more than doubles to $2,025 million in 2023, then declines to $1,185 million in 2024. This volatility suggests restructuring or cost management initiatives impacting administrative expenses.
Restructuring Charges
Reported in earlier years, restructuring charges decline from $151 million in 2020 to $89 million in 2022, then are absent from 2023 onward, indicating the winding down of restructuring activities.
Income (Loss) from Operations
A significant turnaround is observed, moving from an operating loss of $3,590 million in 2020 to a positive operating income of $2,553 million by 2024, reflecting operational improvements and scaling benefits.
Interest Income and Expense
Interest income grows substantially from $27 million in 2020 to $818 million in 2024, enhancing overall profitability. Interest expense fluctuates but remains relatively low, peaking at $438 million in 2021 and decreasing thereafter, indicating manageable debt costs.
Other Income (Expense), Net
Other income/expense shows improvement over time, starting from a net expense of $947 million in 2020 and moving closer to neutral, with minor net expenses of $16 million in 2024.
Income (Loss) Before Income Taxes
The company transitions from a pre-tax loss of $4,682 million in 2020 to a pre-tax income of $3,331 million by 2024, following the positive trends in operating income and interest income.
Provision for Income Taxes
The tax provision is volatile: a small benefit in 2020 shifts to a tax expense in subsequent years, notably showing a large tax benefit of $2,690 million in 2023, possibly due to deferred tax assets or benefits, followed by a significant tax expense in 2024.
Net Income (Loss)
Net income improves dramatically from a loss of $4,585 million in 2020 to positive earnings of $2,648 million in 2024, with 2023 marking the highest net income of $4,792 million. This reflects the overall successful transition to profitability.