Airbnb(US:ABNB) ZACKS·2026-02-13 18:16Core Insights - Airbnb (ABNB) reported fourth-quarter 2025 adjusted earnings of 56 cents per share, missing the Zacks Consensus Estimate by 14.89%, compared to 73 cents per share in the same quarter last year [1] - Revenues reached $2.78 billion, reflecting a 12% year-over-year increase on a reported basis and an 11% increase on a forex-neutral basis, surpassing the Zacks Consensus Estimate by 2.01% [1] Revenue Performance - Gross Booking Value (GBV) for Q4 2025 was $20.4 billion, up 16% year over year on a reported basis and 13% excluding forex impact [3] - Nights and Seats Booked totaled 121.9 million, marking a 9.8% year-over-year increase, with growth across all regions [4] - Average Daily Rate (ADR) was $168, up 6% year over year, with a 3% increase when excluding forex [4] Operating Metrics - Total costs and expenses as a percentage of revenues increased by 770 basis points year over year to 90.3% [6] - Adjusted EBITDA was $786 million, a 2.7% year-over-year increase, with an adjusted EBITDA margin of 28.3%, down 260 basis points year over year [7] Cash Flow and Balance Sheet - As of December 31, 2025, cash and cash equivalents totaled $11 billion, down from $11.68 billion as of September 30, 2025 [8] - Net cash provided by operating activities was $526 million in Q4 2025, down from $1.36 billion in Q3 2025 but up from $466 million in the year-ago quarter [8] Share Repurchase and Guidance - Airbnb repurchased shares worth $1.1 billion in Q4 2025, with $5.6 billion remaining under repurchase authorization [10] - For Q1 2026, Airbnb expects revenues between $2.59 billion and $2.63 billion, indicating a year-over-year increase of 14-16% [11] - The company anticipates low double-digit revenue growth acceleration for 2026, driven by sustained demand and execution of growth initiatives [12]