Airbnb, Inc. (ABNB) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$1.25

$0.93$1.44

vs $1.03+20.9%

30 analysts

Next Qtr

$2.75

$2.05$3.20

vs $2.21+24.3%

28 analysts

Current Yr

$5.08

$3.98$5.76

vs $4.03+26.0%

38 analysts

Next Yr

$6.03

$5.35$7.58

vs $5.08+18.7%

38 analysts

Revenue Estimates

Current Qtr

$3.58B

$3.55B$3.62B

vs $3.10B+15.5%

31 analysts

Next Qtr

$4.61B

$4.54B$4.67B

vs $4.09B+12.6%

30 analysts

Current Yr

$13.96B

$13.78B$14.11B

vs $12.24B+14.1%

39 analysts

Next Yr

$15.42B

$14.95B$16.41B

vs $13.96B+10.5%

41 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for ABNB on EDGAR.

ABNB filing events and research context
Filed	Item	Context
May 7, 2026	mda_quarterly	Airbnb’s first-quarter 2026 revenue grew 18% to $2.7 billion, driven by an increase in Average Daily Rate (ADR) and a 9% rise in Nights and Seats Booked to 156 million. Gross Booking Value increased 19% to $29.2 billion, with the strongest growth occurring in Latin America and Asia Pacific. Net income rose slightly to $160 million, benefiting from a $70 million realized gain on an equity investment, though offset by a $69 million one-time Corporate Alternative Minimum Tax adjustment. Free cash flow was $1.7 billion, reflecting a shift in cash timing due to increased guest adoption of deferred payment programs. To manage capital, Airbnb repurchased $1.1 billion in Class A common stock and issued $2.5 billion in Senior Notes to fully repay $2.0 billion of 2026 Notes. Operating expenses increased 16%, led by a 33% surge in sales and marketing to fund paid growth in emerging markets and the expansion of Airbnb Experiences and Services. While liquidity remains robust at $12 billion in cash and short-term investments, the company notes that the Middle East conflict has increased cancellations across EMEA and Asia Pacific.
Feb 12, 2026	business	Airbnb operates a global marketplace across 220 countries and regions, connecting guests with stays, experiences, and newly launched Airbnb Services. The company's growth strategy emphasizes global localization and expanding its product roadmap beyond travel accommodations. In 2025, Airbnb completed a comprehensive rebuild of its technology stack to a microservices architecture, enabling AI-powered personalization, unified search, and enhanced fraud detection. Key value propositions include the Co-Host Network for listing management and AirCover, which provides hosts with up to $3 million in property damage protection and $1 million in liability coverage. Guest-facing innovations include flexible payment options such as "Pay Less Upfront" and "Reserve Now, Pay Later." Despite brand strength reducing reliance on paid marketing, the company faces significant regulatory headwinds. Short-term rental restrictions, exemplified by the de facto ban in New York City, pose a direct threat to operations. Additionally, Airbnb must navigate an increasingly complex global landscape of data privacy, AI governance, and money transmission laws. The company maintains a remote-first "Live and Work Anywhere" human capital strategy and targets net-zero corporate operations by 2030.
Feb 12, 2026	risk_factors	Airbnb’s growth depends on host and guest retention and the adoption of new initiatives like Airbnb Services and redesigned experiences. With 56% of revenue generated in non-U.S. currencies, the company is highly exposed to foreign exchange volatility and diverse international regulatory landscapes. Significant legal risks include short-term rental restrictions, exemplified by the de facto ban in New York City and the forthcoming EU STR Regulation. Financially, Airbnb faces a $1.3 billion IRS claim regarding international intellectual property valuation and must manage $2.0 billion in convertible senior notes due in 2026. Competition is intense from online travel agencies like Booking Holdings and Expedia Group, as well as Google’s travel search products. Operational stability relies on third-party infrastructure, primarily Amazon Web Services, and the integration of AI for fraud detection and customer support, which introduces emerging regulatory risks under the EU AI Act. Furthermore, the company’s multi-series stock structure concentrates voting control among founders, potentially limiting the influence of Class A shareholders. Macroeconomic sensitivity remains high, with performance tied to global travel trends and seasonality, typically peaking in the third quarter.

Filed

Item

Context

May 7, 2026

mda_quarterly

Airbnb’s first-quarter 2026 revenue grew 18% to $2.7 billion, driven by an increase in Average Daily Rate (ADR) and a 9% rise in Nights and Seats Booked to 156 million. Gross Booking Value increased 19% to $29.2 billion, with the strongest growth occurring in Latin America and Asia Pacific. Net income rose slightly to $160 million, benefiting from a $70 million realized gain on an equity investment, though offset by a $69 million one-time Corporate Alternative Minimum Tax adjustment. Free cash flow was $1.7 billion, reflecting a shift in cash timing due to increased guest adoption of deferred payment programs. To manage capital, Airbnb repurchased $1.1 billion in Class A common stock and issued $2.5 billion in Senior Notes to fully repay $2.0 billion of 2026 Notes. Operating expenses increased 16%, led by a 33% surge in sales and marketing to fund paid growth in emerging markets and the expansion of Airbnb Experiences and Services. While liquidity remains robust at $12 billion in cash and short-term investments, the company notes that the Middle East conflict has increased cancellations across EMEA and Asia Pacific.

Feb 12, 2026

business

Airbnb operates a global marketplace across 220 countries and regions, connecting guests with stays, experiences, and newly launched Airbnb Services. The company's growth strategy emphasizes global localization and expanding its product roadmap beyond travel accommodations. In 2025, Airbnb completed a comprehensive rebuild of its technology stack to a microservices architecture, enabling AI-powered personalization, unified search, and enhanced fraud detection. Key value propositions include the Co-Host Network for listing management and AirCover, which provides hosts with up to $3 million in property damage protection and $1 million in liability coverage. Guest-facing innovations include flexible payment options such as "Pay Less Upfront" and "Reserve Now, Pay Later." Despite brand strength reducing reliance on paid marketing, the company faces significant regulatory headwinds. Short-term rental restrictions, exemplified by the de facto ban in New York City, pose a direct threat to operations. Additionally, Airbnb must navigate an increasingly complex global landscape of data privacy, AI governance, and money transmission laws. The company maintains a remote-first "Live and Work Anywhere" human capital strategy and targets net-zero corporate operations by 2030.

Feb 12, 2026

risk_factors

Airbnb’s growth depends on host and guest retention and the adoption of new initiatives like Airbnb Services and redesigned experiences. With 56% of revenue generated in non-U.S. currencies, the company is highly exposed to foreign exchange volatility and diverse international regulatory landscapes. Significant legal risks include short-term rental restrictions, exemplified by the de facto ban in New York City and the forthcoming EU STR Regulation. Financially, Airbnb faces a $1.3 billion IRS claim regarding international intellectual property valuation and must manage $2.0 billion in convertible senior notes due in 2026. Competition is intense from online travel agencies like Booking Holdings and Expedia Group, as well as Google’s travel search products. Operational stability relies on third-party infrastructure, primarily Amazon Web Services, and the integration of AI for fraud detection and customer support, which introduces emerging regulatory risks under the EU AI Act. Furthermore, the company’s multi-series stock structure concentrates voting control among founders, potentially limiting the influence of Class A shareholders. Macroeconomic sensitivity remains high, with performance tied to global travel trends and seasonality, typically peaking in the third quarter.

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ABNB filing events and research context

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