UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________________________________ Form 10-Q ______________________________________________________________________________________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Financial Data and Key Metrics Changes - Net revenue increased by 13% year-over-year to a record $337 million, marking the ninth consecutive quarter of double-digit growth [8][11] - Net income rose by 84% year-over-year to $15 million, while adjusted EBITDA increased by 25% year-over-year to $84 million, representing a 25% margin [11][12] - Average revenue per location reached a record level in the second quarter, although paying advertising locations were relatively flat, down 1% year-over-year [11][12] Business Line Data and Key Metrics Changes - Advertising revenue from services businesses increased by 15% year-over-year to a record $200 million, driven by growth in average revenue per location [11] - Advertising revenue from restaurants, retail, and other businesses increased by 11% year-over-year to a record $122 million, also driven by growth in average revenue per location [11] - Self-serve and multi-location channels maintained strong year-over-year growth rates of approximately 25% and 15%, respectively, accounting for 51% of total advertising revenue for the first time [9][11] Market Data and Key Metrics Changes - The home services category saw approximately 25% year-over-year growth in advertising revenue [8] - Ad clicks were flat year-over-year, while average cost per click (CPC) increased by 14% year-over-year [12] Company Strategy and Development Direction - The company is focused on product innovation and enhancing the advertising experience through AI and neural networks, which have improved ad targeting and content display [9][19] - The strategic priority includes growing revenue through a strong product pipeline and delivering long-term shareholder value [10][15] - The company plans to continue share repurchases, having repurchased $50 million worth of shares in the second quarter [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the macroeconomic environment, noting strong advertising demand from small and medium-sized businesses (SMBs) [53][54] - The company raised its full-year revenue outlook, now expecting net revenue to be in the range of $1.32 billion to $1.33 billion [14][15] - Management acknowledged uncertainties in the economic environment but emphasized their focus on delivering value to advertisers [54] Other Important Information - The company is working to reduce stock-based compensation as a percentage of revenue to less than 8% by the end of 2025 [13] - The company highlighted the successful rollout of Yelp Guaranteed, which has shown early positive results in project submissions and ad clicks [32] Q&A Session Summary Question: Optimization of content and ad targeting - Management discussed ongoing improvements in ad tech and targeting, leveraging neural networks to enhance ad ranking and user experience [18][19] Question: Q4 revenue trajectory - Management acknowledged uncertainties but noted strong momentum and raised full-year guidance, indicating a cautious approach to Q4 expectations [21] Question: Consumer demand and engagement - Management characterized consumer demand as steady, with improvements in user retention and contributions due to recent product enhancements [24][25] Question: Services monetization and matching improvements - Management highlighted ongoing improvements in ad tech and the quality of leads, which have positively impacted services revenue [25][26] Question: Clicks and CPC growth - Management explained that while clicks have been flat, CPCs have increased due to the optimization of advertiser budgets and the value of leads provided [29][30] Question: Multi-location opportunities - Management noted strong growth in the multi-location channel and emphasized the importance of attribution and ROI for advertisers [50] Question: Macro uncertainties - Management acknowledged the complexity of the macroeconomic environment but noted strength in SMB advertising demand [53][54]

Yelp Inc. (NYSE:YELP) Q1 2023 Results Conference Call May 4, 2023 5:00 PM ET Company Participants James Miln - SVP, Finance and IR Jeremy Stoppelman - CEO David Schwarzbach - CFO Jed Nachman - COO Conference Call Participants Colin Sebastian - Baird Sergio Segura - KeyBanc Capital Markets Justin Patterson - KeyBanc Capital Markets Operator Hello and welcome to the Yelp First Quarter 2023 Earnings Conference Call. My name is Elliot and I’ll be your coordinating your call today. [Operator Instructions] I’d no ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________________________________ Form 10-Q ______________________________________________________________________________________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35444 YELP INC. (Exact name of Registrant as specified in its charter) Delaware 20-1854266 (State or other jurisdiction of incorporation or org ...

Yelp Inc. (NYSE:YELP) Q4 2022 Earnings Conference Call February 9, 2023 5:00 PM ET Company Participants James Miln - Senior Vice President, Finance and Investor Relations Jeremy Stoppelman - Co-founder and Chief Executive Officer David Schwarzbach - Chief Financial Officer Jed Nachman - Chief Operating Officer Conference Call Participants Colin Sebastian - Baird Shweta Khajuria - Evercore ISI Eric Sheridan - Goldman Sachs Cory Carpenter - JP Morgan Christopher Suchecki - Jefferies Brian Fitzgerald - Wells ...

Yelp Inc. (NYSE:YELP) Q3 2022 Results Conference Call November 3, 2022 5:00 PM ET Company Participants James Miln - SVP, Finance & IR Jeremy Stoppelman - CEO David Schwarzbach - CFO Joseph Nachman - COO Conference Call Participants Colin Sebastian - Baird Justin Patterson - KeyBanc Cory Carpenter - JP Morgan John Colantoni - Jefferies Operator Good afternoon. Thank you for attending today's Yelp Third Quarter 2022 Earnings Conference Call. My name is Francis, and I'll be your moderator today. [Operator Inst ...

Financial Data and Key Metrics Changes - Net revenue increased by 16% year-over-year to a quarterly record of $299 million, exceeding the high end of the outlook range by $9 million [8][10] - Adjusted EBITDA increased by 6% year-over-year to $67 million, $12 million above the high end of the outlook range [12] - Net income increased by 90% year-over-year to $8 million [12] Business Line Data and Key Metrics Changes - Advertising revenue from services businesses grew 14% year-over-year to $174 million, driven by strength in the Home Services category [8][10] - Advertising revenue from restaurants, retail, and other businesses grew 18% year-over-year, largely due to an increase in paying advertising locations [9] - Paying advertising locations reached a record 569,000, surpassing pre-pandemic levels [10][25] Market Data and Key Metrics Changes - Ad clicks increased from the first quarter but declined by 11% year-over-year due to significant reopening tailwinds in the prior year [11] - Average cost per click (CPC) increased by 32% year-over-year while remaining consistent with the first quarter [11] Company Strategy and Development Direction - The company is focused on a product-led strategy that connects advertisers with a large, high-intent audience [7] - Continued investment in marketing to drive businesses to the fully digital self-serve channel, resulting in record self-serve customer acquisition [12] - The company is raising its full-year net revenue outlook to a range of $1.18 billion to $1.2 billion [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenging U.S. economic environment but believes the current outlook balances strong advertiser demand with a modestly recessionary macro outlook [14] - The company expects adjusted EBITDA for the third quarter to be in the range of $65 million to $75 million, reflecting a small increase in total expenses [15] - Management expresses confidence in the ability to drive long-term shareholder value through consistent execution of product-led initiatives [16] Other Important Information - The company repurchased $50 million worth of shares at an average purchase price of $31.75 [13] - The company expects to realize approximately $25 million to $27 million in annual GAAP expense savings from previously executed office space reductions [13] Q&A Session Summary Question: Dynamic between Services ad revenue growth and Request A Quote decline - Management explains that strong demand from service providers, especially in Home Services, drove the 14% growth in Services ad revenue, while innovations like Request a Call are being introduced to reduce friction and improve lead quality [17][18] Question: Persistence of product growth amid SMB pressures - Management attributes the durability of the business to the ROI seen by customers and the breadth of Yelp's trusted content across various categories [21][22] Question: Future of advertising locations and revenue per location - Management believes there is a large total addressable market (TAM) for new acquisitions and that they can continue to drive value for advertisers, thus increasing average revenue per location [24][26] Question: Impact of infrastructure investments on gross margin - Management indicates that a significant portion of gross margin compression is due to Yelp Audiences syndication costs, while they continue to drive efficiency in infrastructure costs [31][34] Question: Product roadmap alignment with digital local commerce - Management highlights new ad units and the Yelp Audiences product as key areas to engage with digital local commerce and DTC innovation [39][40] Question: Investments in measurement and attribution - Management emphasizes the importance of attribution for Multi-location advertisers and the ongoing investments in their ad tech stack to refine measurement and attribution capabilities [42]