Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Airbnb Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Jun 30, 2026	Mar 31, 2026	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
Accrued expenses, accounts payable, and other current liabilities	3,037)	3,081)	2,948)	3,012)	2,895)	2,836)	2,614)	3,106)	2,865)	2,968)	2,654)	2,368)	2,133)	2,280)	2,013)	1,990)	1,841)	1,921)	1,740)	1,726)	1,711)	1,612)
Funds payable and amounts payable to customers	12,224)	10,550)	6,959)	7,209)	11,067)	9,175)	5,931)	6,573)	10,342)	8,737)	5,869)	5,986)	9,144)	7,760)	4,783)	4,805)	7,466)	6,105)	3,715)	3,940)	6,302)	4,015)
Current portion of long-term debt	—)	—)	1,999)	1,998)	1,997)	1,996)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Unearned fees	2,831)	2,733)	1,743)	1,820)	2,857)	2,723)	1,616)	1,657)	2,621)	2,434)	1,427)	1,467)	2,347)	2,172)	1,182)	1,220)	1,981)	1,748)	904)	892)	1,484)	946)
Current liabilities	18,092)	16,364)	13,649)	14,039)	18,816)	16,730)	10,161)	11,336)	15,828)	14,139)	9,950)	9,821)	13,624)	12,212)	7,978)	8,015)	11,287)	9,774)	6,359)	6,559)	9,496)	6,573)
Long-term debt, net of current portion	2,476)	2,475)	—)	—)	—)	—)	1,995)	1,994)	1,993)	1,992)	1,991)	1,990)	1,989)	1,988)	1,987)	1,986)	1,985)	1,984)	1,983)	1,981)	1,980)	1,979)
Other liabilities, noncurrent	387)	353)	360)	415)	394)	389)	391)	354)	497)	510)	539)	505)	516)	527)	513)	535)	542)	574)	591)	592)	615)	627)
Noncurrent liabilities	2,863)	2,828)	360)	415)	394)	389)	2,386)	2,348)	2,490)	2,502)	2,530)	2,495)	2,505)	2,515)	2,500)	2,521)	2,527)	2,557)	2,573)	2,574)	2,595)	2,606)
Total liabilities	20,955)	19,192)	14,009)	14,454)	19,210)	17,119)	12,547)	13,684)	18,318)	16,641)	12,480)	12,316)	16,129)	14,727)	10,478)	10,536)	13,814)	12,331)	8,933)	9,133)	12,092)	9,180)
Common stock, $0.0001 par value	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Additional paid-in capital	14,433)	14,041)	13,763)	13,437)	13,168)	12,841)	12,602)	12,378)	12,116)	11,819)	11,639)	11,452)	11,290)	11,662)	11,557)	11,365)	11,267)	11,126)	11,140)	10,864)	10,639)	10,339)
Accumulated other comprehensive income (loss)	19)	(2)	(62)	(79)	(128)	(21)	35)	(47)	(5)	(9)	(49)	(5)	(33)	(30)	(32)	(42)	(24)	(12)	(7)	(3)	—)	(2)
Accumulated deficit	(6,653)	(6,403)	(5,502)	(4,748)	(5,258)	(4,883)	(4,225)	(3,843)	(4,109)	(3,914)	(3,425)	(2,324)	(6,198)	(6,341)	(5,965)	(5,783)	(5,998)	(6,377)	(6,358)	(6,412)	(7,246)	(7,178)
Stockholders’ equity	7,799)	7,636)	8,199)	8,610)	7,782)	7,937)	8,412)	8,488)	8,002)	7,896)	8,165)	9,123)	5,059)	5,291)	5,560)	5,540)	5,245)	4,737)	4,776)	4,449)	3,393)	3,159)
Total liabilities and stockholders’ equity	28,754)	26,828)	22,208)	23,064)	26,992)	25,056)	20,959)	22,172)	26,320)	24,537)	20,645)	21,439)	21,188)	20,018)	16,038)	16,077)	19,059)	17,068)	13,708)	13,582)	15,485)	12,339)

The balance sheet demonstrates a significant expansion in total liabilities and stockholders' equity over the period from March 2021 to June 2026. Total liabilities grew from 9.18 billion to 20.96 billion, while stockholders' equity increased from 3.16 billion to 7.80 billion. This growth is primarily driven by an increase in current liabilities, which exhibit a strong seasonal volatility corresponding to the company's operational cycles.

Current Liability Trends and Seasonality: Current liabilities show a recurring pattern of peaking in the second and first quarters of each year. This is predominantly driven by "Funds payable and amounts payable to customers" and "Unearned fees," both of which spike during peak travel periods. For instance, funds payable to customers reached 12.22 billion in March 2026 and 11.07 billion in June 2025, contrasted with significant dips in the third and fourth quarters. This suggests a business model where cash collections from customers precede the disbursement of funds to hosts, creating a cyclical increase in short-term obligations.
Debt Structure and Maturity: Long-term debt remained remarkably stable at approximately 1.98 billion to 1.99 billion from March 2021 through December 2024. A structural shift occurred in March 2025, when the long-term debt was reclassified as the "Current portion of long-term debt" (approximately 2.00 billion), indicating the approach of a maturity date. Subsequently, a new long-term debt obligation of 2.48 billion emerged in March 2026, suggesting a refinancing event or new capital raise to replace the maturing debt.
Equity and Retained Earnings Analysis: Stockholders' equity has trended upward, supported by a steady increase in additional paid-in capital, which rose from 10.34 billion in March 2021 to 14.43 billion by June 2026. The accumulated deficit shows considerable volatility; while it remained deep in the negative for several years, a notable improvement occurred around September 2023, where the deficit narrowed to 2.32 billion before widening again to 6.65 billion by June 2026. This suggests periods of significant profitability offset by subsequent losses or large-scale accounting adjustments.
Overall Solvency and Capital Composition: The total liability-to-equity ratio has increased over the analyzed period. In March 2021, liabilities were roughly 2.9 times the value of equity. By June 2026, this ratio increased to approximately 2.7 times equity, though the absolute volume of liabilities grew more aggressively than the equity base. The composition of liabilities remains heavily weighted toward operational payables rather than financial debt, indicating that the company's leverage is primarily driven by its platform's transactional volume.

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Airbnb Inc. (NASDAQ:ABNB)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data