Airbnb, Inc. operates a global platform that connects hosts and guests to book unique stays and experiences worldwide. The company's marketplace model facilitates these connections online or through mobile devices, allowing hosts to offer spaces and experiences that enable guests to engage with communities authentically . Airbnb's primary revenue source is service fees charged to customers for stays and experiences booked on its platform. These fees are calculated as a percentage of the booking value, excluding taxes, and vary based on factors such as booking value, duration, geography, and host type . In 2023, Airbnb reported a revenue of $9.9 billion, marking an 18% increase from the previous year, primarily driven by a 14% increase in Nights and Experiences Booked and higher average daily rates .
- Stays - Facilitates the booking of accommodations worldwide, allowing hosts to offer unique spaces for guests to stay.
- Experiences - Offers a platform for booking activities and experiences that enable guests to engage with local communities and cultures.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brian Chesky ExecutiveBoard | CEO, Co-Founder, Chairman of the Board | None | Co-founded Airbnb in 2008; led the company through its IPO in 2020 and strategic challenges like the COVID-19 pandemic. | View Report → |
Nathan Blecharczyk ExecutiveBoard | Chief Strategy Officer, Co-Founder, Chairman of Airbnb China | None | Co-founded Airbnb in 2008; instrumental in expanding Airbnb's presence in China; holds a BA in Computer Science from Harvard. | |
Aristotle Balogh Executive | Chief Technology Officer (CTO) | None | Joined Airbnb as CTO in November 2018; no other roles within Airbnb mentioned. | |
Elinor Mertz Executive | Chief Financial Officer (CFO) | Board Member at DoorDash, Inc. and Faire Wholesale, Inc. | Joined Airbnb in 2013; became CFO in March 2024; previously held finance roles at Netflix. | |
Alfred Lin Board | Director | Partner at Sequoia Capital; Board Member at DoorDash and Houzz | Joined Airbnb's board in November 2012; represents Sequoia Capital on multiple boards. | |
Amrita Ahuja Board | Director | CFO and COO of Block, Inc.; Board Member at Discord, Inc. | Joined Airbnb's board in December 2021; extensive finance experience, including roles at Blizzard Entertainment and Activision Blizzard. | |
Angela Ahrendts Board | Director | Director at Ralph Lauren Corporation and WPP plc; Chairperson of Save the Children International and other non-profits | Joined Airbnb's board in May 2019; chairs the Leadership Development, Belonging, and Compensation Committee and the Stakeholder Committee. | |
James Manyika Board | Director, Chair of Stakeholder Committee | Senior VP at Google LLC; Member of National AI Advisory Committee; Executive Advisory Board at General Atlantic | Joined Airbnb's board in September 2023; extensive expertise in technology, AI, and governance; former McKinsey Senior Partner. | |
Jeffrey Jordan Board | Director | General Partner at Andreessen Horowitz; Board Member at Pinterest, Accolade, and Instacart | Joined Airbnb's board in August 2011; extensive leadership experience, including as CEO of OpenTable and President of PayPal. | |
Joseph Gebbia Board | Co-Founder, Director | Board Member at Tesla, Inc. and Olympic Refuge Foundation; Trustee at Rhode Island School of Design | Co-founded Airbnb in 2008; instrumental in the company's growth; serves on multiple external boards. | |
Kenneth Chenault Board | Director | Chairman and Managing Director of General Catalyst; Board Member at Berkshire Hathaway Inc. and Catalyst Partners Acquisition Corp. | Joined Airbnb's board in January 2018; former Chairman and CEO of American Express. |
- Given that you removed over 300,000 listings last year to improve quality, reducing supply growth, how do you plan to achieve sufficient supply growth to meet rising demand without compromising on quality, especially in markets where supply is already constrained?
- With your core markets comprising about 75% of your gross booking value and expansion markets only about 15% of the remainder, what specific strategies are you implementing to accelerate growth in these new regions, and how will you overcome challenges like local regulations, cultural differences, and competition?
- As you plan to aggressively launch new services in over 100 cities next year, how are you managing the risks associated with such a broad rollout, and what measures are in place to ensure these new offerings achieve both scale and profitability without significant additional investments?
- Given the anticipated margin compression in Q4 due to increased investments in product development and marketing, how do you plan to balance the need for growth with maintaining profitability, and what are your EBITDA margin targets for the coming years as you expand into new markets and services?
- Despite initiatives like the Cohost network to make hosting mainstream, how do you address the potential limitations in attracting new hosts who lack time or resources, and what strategies are in place to ensure the Cohost network can unlock millions of new listings without sacrificing host quality and guest experience?
Research analysts who have asked questions during Airbnb earnings calls.
Jed Kelly
Oppenheimer & Co. Inc.
6 questions for ABNB
Justin Post
Bank of America Corporation
6 questions for ABNB
Kevin Kopelman
TD Cowen
6 questions for ABNB
Richard Clarke
Bernstein
6 questions for ABNB
Lee Horowitz
Deutsche Bank
5 questions for ABNB
Colin Sebastian
Baird
4 questions for ABNB
Douglas Anmuth
JPMorgan Chase & Co.
4 questions for ABNB
Eric Sheridan
Goldman Sachs
4 questions for ABNB
John Colantuoni
Jefferies
4 questions for ABNB
Justin Patterson
KeyBanc Capital Markets
4 questions for ABNB
Stephen Ju
UBS
4 questions for ABNB
Brian Nowak
Morgan Stanley
3 questions for ABNB
Mark Mahaney
Evercore ISI
3 questions for ABNB
Ron Josey
Citigroup Inc.
3 questions for ABNB
Trevor Young
Barclays
3 questions for ABNB
James Lee
Mizuho Securities
2 questions for ABNB
Ken Gorer
Wells Fargo
2 questions for ABNB
Kenneth Gawrelski
Wells Fargo & Company
2 questions for ABNB
Lloyd Walmsley
Mizuho
2 questions for ABNB
Ronald Josey
Citigroup Inc.
2 questions for ABNB
Alex Brignall
Rothschild & Co Redburn
1 question for ABNB
Charles Scholes
Not Disclosed
1 question for ABNB
Conor Cunningham
Melius Research
1 question for ABNB
Deepak Mathivanan
Cantor Fitzgerald
1 question for ABNB
Doug Anmuth
JPMorgan Chase & Co.
1 question for ABNB
Ken Gawrelski
Wells Fargo & Company
1 question for ABNB
Naved Khan
B. Riley Securities
1 question for ABNB
Thomas White
D.A. Davidson & Co.
1 question for ABNB
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Includes brands such as Booking.com, KAYAK, Priceline.com, and Agoda.com, and is categorized as an online travel agency (OTA) competitor. | |
Includes brands such as Expedia, Vrbo, HomeAway, Hotels.com, Orbitz, and Travelocity, and is categorized as an online travel agency (OTA) competitor. | |
Includes brands such as Ctrip.com, Trip.com, Qunar, Tongcheng-eLong, and SkyScanner, and is categorized as an online travel agency (OTA) competitor. | |
Hopper | Identified as an online travel agency (OTA) competitor. |
Fliggy | A subsidiary of Alibaba and categorized as an online travel agency (OTA) competitor. |
Identified as an online travel agency (OTA) competitor. | |
MakeMyTrip | Identified as an online travel agency (OTA) competitor. |
Competes as an internet search engine, including its travel search products. | |
Competes as an internet search engine. | |
Competes as a listing and meta search website. | |
Competes as a listing and meta search website. | |
Mafengwo | Competes as a listing and meta search website. |
AllTheRooms.com | Competes as a listing and meta search website. |
Hometogo | Competes as a listing and meta search website. |
Holidu | Competes as a listing and meta search website. |
Craigslist | Competes as a listing and meta search website. |
Competes as a hotel chain. | |
Competes as a hotel chain. | |
Accor | Competes as a hotel chain. |
Competes as a hotel chain. | |
Competes as a hotel chain. | |
OYO | Competes as a hotel chain. |
Competes as a hotel chain. | |
Vacasa | Competes as a property management company. |
Sonder | Competes as a property management company. |
Inspirato | Competes as a property management company. |
Evolve | Competes as a property management company. |
Awaze | Competes as a property management company. |
Viator | Competes as an online platform offering experiences. |
GetYourGuide | Competes as an online platform offering experiences. |
Klook | Competes as an online platform offering experiences. |
Traveloka | Competes as an online platform offering experiences. |
TUI Musement | Competes as an online platform offering experiences. |
KKDay | Competes as an online platform offering experiences. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Unspecified Corporation | 2023 | Airbnb, Inc. completed a merger acquisition by entering an Agreement and Plan of Merger on November 14, 2023, issuing 877,062 shares of Class A common stock as consideration; the deal was structured via a merger agreement with a prospectus supplement filed for share registration, though no strategic rationale, business fit details, or further terms have been disclosed. |
Recent press releases and 8-K filings for ABNB.
- Revenue up 10% YoY to $4.1 billion in Q3 2025, driven by international markets where Latin America and Asia Pacific grew twice as fast as core markets.
- Net income rose 4% to $1.4 billion for a 34% net margin, alongside record adjusted EBITDA of $2.1 billion (50% margin).
- Gross Booking Value increased 14% to $22.9 billion, supported by the “Reserve Now, Pay Later” feature and expansion in Japan and India.
- Q4 revenue guidance of $2.66 billion–$2.72 billion exceeded analyst expectations, reflecting confidence in continued growth.
- A one-time $213 million tax allowance slightly impacted net income; CEO Chesky reiterated focus on AI integration and international expansion as multi-year priorities.
- Revenue rose 10% year-over-year to $4.1 billion, adjusted EBITDA was $2.1 billion (50% margin), and EPS grew 4% to $2.21, with net income of $1.4 billion.
- Q4 2025 revenue is expected at $2.66–2.72 billion (+7–10% year-over-year), with gross booking value projected to grow low double digits and nights and seats booked in the mid-single digits.
- Introduced Reserve Now, Pay Later, enhanced maps, revised cancellation policies; launched Services & Experiences (110,000+ host applications) and hotel pilot in Los Angeles, New York City, and Madrid; rolled out AI customer support (15% reduction in human contacts) and is testing AI-powered search.
- Generated $1.3 billion in Q3 free cash flow and $4.5 billion over the past 12 months (38% FCF margin); repurchased $857 million in shares in the quarter with $6.6 billion authorization remaining; ended with $11.7 billion in cash and investments.
- Launched a hotel pilot in Los Angeles, New York City, and Madrid, partnering with boutique and independent hotels to fill supply gaps, leveraging Airbnb’s 1.6 billion annual device visits with minimal home-to-hotel cannibalization and targeting a multi-billion-dollar opportunity.
- Rolled out AI customer support in the US—cutting human-agent contacts by 15%—with plans to expand to 50+ languages, and is testing AI-powered conversational search for an app rollout next year.
- Introduced service experiences on May 13, where roughly 50% of bookers had no prior Airbnb stay (and 10% were first-time users), aiming for city-by-city growth over 3–5 years to become a material revenue contributor.
- CFO guidance indicates that while 2025 saw heavy investments in services, experiences, hotels, and AI, 2026 will balance continued investment with maintaining strong margins as these businesses scale.
- Q3 revenue of $4.1 billion (+10% YoY), adjusted EBITDA of $2.1 billion (50% margin), net income of $1.4 billion, and EPS of $2.21 (+4% YoY); gross booking value was $22.9 billion (+14% YoY) and free cash flow $1.3 billion (38% margin)
- Q4 2025 guidance: revenue of $2.66–2.72 billion (7–10% YoY growth), GVV expected to grow low double digits, and nights/seats booked rising mid-single digits
- Expanded offerings: launched Service Experiences (4.3/5 stars, ~50% new users), piloting hotel listings in Los Angeles, New York City, and Madrid, and rolling out AI customer support (–15% human contacts) with conversational AI search testing for next year
- Returned capital: repurchased $857 million of common stock in Q3 (>$3.5 billion over 12 months), reducing share count by 8% with $6.6 billion remaining authorization
- Revenue of $4.1 B in Q3 2025, up 10% Y/Y (10% ex-FX).
- Net income of $1.4 B (34% margin) and Adjusted EBITDA of $2.1 B (50% margin) in Q3 2025.
- Free cash flow of $1.3 B (33% margin); TTM free cash flow of $4.5 B (38% margin) as of Q3 2025.
- Gross Booking Value of $22.9 B (+14% Y/Y; +12% ex-FX) with 133.6 M nights and seats booked (+9% Y/Y) in Q3 2025.
- Q4 2025 revenue guidance of $2.66 B–$2.72 B (+7–10% Y/Y) and full-year 2025 Adjusted EBITDA margin of ~35%.
- Airbnb CEO Brian Chesky is evaluating ChatGPT integration, but current SDK and app ecosystems aren’t ready; a secure, self-contained AI system is required first.
- The platform relies on a mix of 13 AI models, led by Alibaba’s Qwen for its speed and cost-effectiveness, alongside providers like OpenAI and Google.
- A new in-app AI customer service agent has slashed average resolution time from nearly three hours to six seconds and cut human support needs by 15%.
- Airbnb is rolling out enhanced social features to build a more interactive community, positioning AI as the catalyst for scaling human connections and trip planning on its platform.
- Gross bookings rose 11% YoY to $23.5 billion, revenue increased 13%, EBITDA jumped 70%, and EPS grew 20% in Q2.
- Q2 cash flow came in below expectations.
- Q3 revenue guidance was only in line with estimates and management warned of tougher YoY nights booked comparisons ahead.
- Management flagged margin pressures from costly investments in new growth initiatives, while peer Expedia delivered robust beat-and-raise guidance for the current quarter.
- Nights and seats booked reached 134 million, up 7% YoY; revenue was $3.1 billion, up 13% YoY; adjusted EBITDA totaled $1.0 billion (34% margin vs 32.5% a year ago); net income was $642 million and EPS $1.30 (up 1620%)
- Generated $1.0 billion of free cash flow in Q2 and $4.3 billion over the last 12 months (37% margin); ended Q2 with $11.4 billion of corporate cash/investments and $11.1 billion of guest funds; repurchased $1.0 billion of stock and authorized an additional $6.0 billion buyback
- Rolled out Airbnb Services and a reimagined Experiences in May’s summer release, earning a 4.93-star average guest rating and attracting over 60,000 host applications to date
- Q3 guidance: revenue of $4.02–4.10 billion (+8–10% YoY) with adjusted EBITDA above $2.0 billion; full-year adjusted EBITDA margin expected to be at least 34.5%, including ~$200 million of new business investments
- Robust performance in Q1 2025 with revenue of $2.3 billion (up 6% YoY), adjusted EBITDA of $417 million (18% margin), and free cash flow of $1.8 billion.
- Net income of $154M with a 7% margin reflected improved operating performance.
- Guests spent nearly $25 billion on the platform, highlighting strong consumer demand and a resilient business model.
- Continued investments in platform enhancements, including innovations like Guest Favorites with over 350 million nights booked and global rollouts of total price transparency improvements.
- Active share repurchase program with $807 million of common stock repurchased and $2.5 billion remaining on the authorization, underscoring confidence in long-term growth.