Yelp(YELP) - 2025 Q1 - Quarterly Results

Financial Performance - Net revenue for Q1 2025 increased by 8% year over year to $359 million[1] - Net income rose by 72% year over year to $24 million, reflecting a 7% margin[1] - Adjusted EBITDA grew by 32% year over year to $85 million, representing a 24% margin[1] - Net income for Q1 2025 was $24,391,000, compared to $14,154,000 in Q1 2024, representing a 72% increase[20] - Adjusted EBITDA for Q1 2025 was $84,944,000, up from $64,456,000 in Q1 2024, reflecting a 32% growth[20] - Net revenue increased to $358,534,000 in Q1 2025 from $332,752,000 in Q1 2024, marking a 7.7% rise[20] - Net income margin improved to 7% in Q1 2025 from 4% in Q1 2024[20] - Adjusted EBITDA margin increased to 24% in Q1 2025, up from 19% in Q1 2024[20] - Free cash flow for Q1 2025 was $87,464,000, compared to $65,868,000 in Q1 2024, indicating a 32% increase[20] - Net cash provided by operating activities rose to $97,995,000 in Q1 2025 from $72,855,000 in Q1 2024[20] Revenue Outlook - The 2025 net revenue outlook is updated to a range of $1.465 billion to $1.485 billion[1] - Adjusted EBITDA outlook for 2025 is projected to be between $345 million and $365 million[1] Asset and Equity Information - Cash and cash equivalents at the end of Q1 2025 were $222.6 million, up from $217.7 million at the beginning of the period[15] - Total assets as of March 31, 2025, were $985.2 million, compared to $983.6 million at the end of 2024[11] - Total stockholders' equity decreased to $728 million from $743.9 million at the end of 2024[11] Operational Updates - The company rolled out 15 new features and updates to enhance consumer experience and business operations[2] Capital Expenditures and Financing Activities - Purchases of property, equipment, and software were $10,531,000 in Q1 2025, up from $6,987,000 in Q1 2024[20] - Net cash used in financing activities was $81,713,000 in Q1 2025, slightly down from $83,834,000 in Q1 2024[20] Adjusted EBITDA Considerations - Adjusted EBITDA does not account for certain expenses related to acquisitions and shareholder activism, which may affect comparability with other companies[19]