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Airbnb Inc. (ABNB) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a 12% increase in revenue to $11.1 billion compared to the previous year, driven by a 10% increase in Nights and Experiences Booked and a 12% increase in Gross Booking Value.
Net income for the year decreased by 45% to $2.6 billion, primarily due to the release of a valuation allowance on U.S. federal and state deferred tax assets in the prior year and the recognition of deferred tax expense in 2024.
Adjusted EBITDA increased by 11% to $4.0 billion, reflecting growth in revenue and disciplined cost management.
The company generated $4.5 billion in net cash from operating activities and $4.5 billion in Free Cash Flow for the year.
During 2024, Airbnb repurchased 24.5 million shares of Class A common stock for $3.4 billion.
Airbnb's financial performance was influenced by macroeconomic factors such as inflation, tariffs, and geopolitical conflicts, which could continue to affect future results.
The company reported a 2% increase in Average Daily Rate, primarily due to higher rates in Europe, the Middle East, and Africa.
Airbnb's cash and cash equivalents totaled $6.9 billion as of December 31, 2024, with short-term investments amounting to $3.7 billion.
The company maintains a $1.0 billion unsecured revolving credit facility, with no amounts drawn as of the end of the year.
Airbnb faces ongoing legal and regulatory challenges, including disputes over lodging taxes and other non-income tax matters.
The filing also discusses risks related to foreign currency exchange, investment and interest rate fluctuations, and compliance with various global regulations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Airbnb Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.