Airbnb, Inc. stock research
FY2026 Q1
Airbnb (ABNB) Gross Margin & Quarterly History
Explore Airbnb, Inc. (ABNB) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue and gross profit both decreased from the prior quarter, while cost of revenue increased, leading to a lower gross margin. Compared to the same quarter last year, revenue and gross profit were higher, cost of revenue was slightly higher, and gross margin improved.
- The gross margin weakened sequentially as cost of revenue grew faster than the decline in revenue. The year-over-year improvement in gross margin was supported by a larger increase in gross profit relative to cost of revenue.
- Compared to the prior quarter, gross margin was lower, driven by a higher cost of revenue relative to revenue. Compared to the same quarter last year, gross margin was higher, with gross profit increasing more than cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
78.3%
Gross profit
$2.1B
Revenue
$2.7B
Cost of revenue
$581.0M
Quarter-over-quarter change
-4.2 pts
Year-over-year change
+0.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $3.1B | $2.6B | $544.0M | 82.4% |
| Sep 30, 2025 | $4.1B | $3.5B | $549.0M | 86.6% |
| Dec 31, 2025 | $2.8B | $2.3B | $487.0M | 82.5% |
| Mar 31, 2026 | $2.7B | $2.1B | $581.0M | 78.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
-4.2 pts
Year-over-year change
Mar 31, 2025
+0.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin weakened sequentially as cost of revenue grew faster than the decline in revenue. The year-over-year improvement in gross margin was supported by a larger increase in gross profit relative to cost of revenue.
Compared to the prior quarter, gross margin was lower, driven by a higher cost of revenue relative to revenue. Compared to the same quarter last year, gross margin was higher, with gross profit increasing more than cost of revenue.
Monitor the trajectory of cost of revenue relative to revenue, as its sequential increase outpaced revenue decline and compressed margin.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Airbnb, Inc. (ABNB) | 78.3% |