Airbnb (ABNB) 10-K Summaries & Annual Filing History
Review Airbnb, Inc. (ABNB) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Airbnb operates a global platform that connects hosts and guests for lodging and experiences. The company reported revenue growth and profit in its latest annual period, with operating cash flow supporting its liquidity position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$12.2B
Revenue reported for the fiscal year.
Operating income
$2.5B
Income from operations reported for the year.
Net income
$2.5B
Net income reported for the year.
Operating cash flow
$4.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $8.4B | +40.2% |
| Dec 31, 2023 | $9.9B | +18.1% |
| Dec 31, 2024 | $11.1B | +11.9% |
| Dec 31, 2025 | $12.2B | +10.3% |
Business overview
Airbnb operates a two-sided marketplace for short-term rentals and experiences, generating revenue primarily through service fees from bookings. The company's platform relies on a global community of hosts and guests, with no owned real estate. Its business model depends on trust, brand recognition, and network effects to drive transactions.
Financial performance
Revenue increased compared to the prior annual period, continuing a multi-year upward trend. Operating income and net income were both positive, and operating cash flow remained healthy. The company noted strong revenue growth over the most recent completed period.
Material risks
The company faces risks related to its reliance on a global community of hosts and guests, including potential declines in trust or safety incidents. The filing also highlights exposure to regulatory changes, cybersecurity threats, and the possibility that cash held abroad may face repatriation restrictions. These factors could affect operations and financial results.
Liquidity and capital
The company maintains a strong liquidity position with cash, cash equivalents, and short-term investments. It holds a significant portion of cash in foreign subsidiaries, which may have repatriation constraints. No debt or share repurchase plans were mentioned in the supplied context.
What to watch
Investors should monitor trends in booking volume and average daily rates to assess platform demand and pricing power.