000155972012/312024Q3false243274275xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureabnb:jurisdictioniso4217:EUR00015597202024-01-012024-09-300001559720us-gaap:CommonClassAMember2024-10-250001559720us-gaap:CommonClassBMember2024-10-250001559720us-gaap:CommonClassCMember2024-10-250001559720abnb:CommonClassHMember2024-10-2500015597202023-12-3100015597202024-09-300001559720us-gaap:CommonClassAMember2024-09-300001559720us-gaap:CommonClassAMember2023-12-310001559720us-gaap:CommonClassBMember2024-09-300001559720us-gaap:CommonClassBMember2023-12-310001559720us-gaap:CommonClassCMember2023-12-310001559720us-gaap:CommonClassCMember2024-09-300001559720abnb:CommonClassHMember2023-12-310001559720abnb:CommonClassHMember2024-09-3000015597202023-07-012023-09-3000015597202024-07-012024-09-3000015597202023-01-012023-09-300001559720us-gaap:CommonStockMember2022-12-310001559720us-gaap:AdditionalPaidInCapitalMember2022-12-310001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001559720us-gaap:RetainedEarningsMember2022-12-3100015597202022-12-310001559720us-gaap:RetainedEarningsMember2023-01-012023-03-3100015597202023-01-012023-03-310001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001559720us-gaap:CommonStockMember2023-01-012023-03-310001559720us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310001559720us-gaap:CommonStockMember2023-03-310001559720us-gaap:AdditionalPaidInCapitalMember2023-03-310001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310001559720us-gaap:RetainedEarningsMember2023-03-3100015597202023-03-310001559720us-gaap:RetainedEarningsMember2023-04-012023-06-3000015597202023-04-012023-06-300001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300001559720us-gaap:CommonStockMember2023-04-012023-06-300001559720us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300001559720us-gaap:CommonStockMember2023-06-300001559720us-gaap:AdditionalPaidInCapitalMember2023-06-300001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001559720us-gaap:RetainedEarningsMember2023-06-3000015597202023-06-300001559720us-gaap:RetainedEarningsMember2023-07-012023-09-300001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300001559720us-gaap:CommonStockMember2023-07-012023-09-300001559720us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300001559720us-gaap:CommonStockMember2023-09-300001559720us-gaap:AdditionalPaidInCapitalMember2023-09-300001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300001559720us-gaap:RetainedEarningsMember2023-09-3000015597202023-09-300001559720us-gaap:CommonStockMember2023-12-310001559720us-gaap:AdditionalPaidInCapitalMember2023-12-310001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001559720us-gaap:RetainedEarningsMember2023-12-310001559720us-gaap:RetainedEarningsMember2024-01-012024-03-3100015597202024-01-012024-03-310001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310001559720us-gaap:CommonStockMember2024-01-012024-03-310001559720us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310001559720us-gaap:CommonStockMember2024-03-310001559720us-gaap:AdditionalPaidInCapitalMember2024-03-310001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310001559720us-gaap:RetainedEarningsMember2024-03-3100015597202024-03-310001559720us-gaap:RetainedEarningsMember2024-04-012024-06-3000015597202024-04-012024-06-300001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300001559720us-gaap:CommonStockMember2024-04-012024-06-300001559720us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300001559720us-gaap:CommonStockMember2024-06-300001559720us-gaap:AdditionalPaidInCapitalMember2024-06-300001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001559720us-gaap:RetainedEarningsMember2024-06-3000015597202024-06-300001559720us-gaap:RetainedEarningsMember2024-07-012024-09-300001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300001559720us-gaap:CommonStockMember2024-07-012024-09-300001559720us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300001559720us-gaap:CommonStockMember2024-09-300001559720us-gaap:AdditionalPaidInCapitalMember2024-09-300001559720us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300001559720us-gaap:RetainedEarningsMember2024-09-300001559720abnb:RevenueMember2023-07-012023-09-300001559720abnb:RevenueMember2024-07-012024-09-300001559720abnb:RevenueMember2023-01-012023-09-300001559720abnb:RevenueMember2024-01-012024-09-300001559720abnb:OperationsAndSupportMember2023-07-012023-09-300001559720abnb:OperationsAndSupportMember2024-07-012024-09-300001559720abnb:OperationsAndSupportMember2023-01-012023-09-300001559720abnb:OperationsAndSupportMember2024-01-012024-09-300001559720abnb:SalesAndMarketingExpenseMember2023-07-012023-09-300001559720abnb:SalesAndMarketingExpenseMember2024-07-012024-09-300001559720abnb:SalesAndMarketingExpenseMember2023-01-012023-09-300001559720abnb:SalesAndMarketingExpenseMember2024-01-012024-09-300001559720srt:NorthAmericaMember2023-07-012023-09-300001559720srt:NorthAmericaMember2024-07-012024-09-300001559720srt:NorthAmericaMember2023-01-012023-09-300001559720srt:NorthAmericaMember2024-01-012024-09-300001559720us-gaap:EMEAMember2023-07-012023-09-300001559720us-gaap:EMEAMember2024-07-012024-09-300001559720us-gaap:EMEAMember2023-01-012023-09-300001559720us-gaap:EMEAMember2024-01-012024-09-300001559720srt:LatinAmericaMember2023-07-012023-09-300001559720srt:LatinAmericaMember2024-07-012024-09-300001559720srt:LatinAmericaMember2023-01-012023-09-300001559720srt:LatinAmericaMember2024-01-012024-09-300001559720srt:AsiaPacificMember2023-07-012023-09-300001559720srt:AsiaPacificMember2024-07-012024-09-300001559720srt:AsiaPacificMember2023-01-012023-09-300001559720srt:AsiaPacificMember2024-01-012024-09-300001559720us-gaap:ShortTermInvestmentsMemberus-gaap:CertificatesOfDepositMember2023-12-310001559720us-gaap:ShortTermInvestmentsMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001559720us-gaap:ShortTermInvestmentsMemberus-gaap:CommercialPaperMember2023-12-310001559720us-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:ShortTermInvestmentsMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001559720us-gaap:ShortTermInvestmentsMember2023-12-310001559720us-gaap:OtherNoncurrentAssetsMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:ShortTermInvestmentsMemberus-gaap:CertificatesOfDepositMember2024-09-300001559720us-gaap:ShortTermInvestmentsMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300001559720us-gaap:ShortTermInvestmentsMemberus-gaap:CommercialPaperMember2024-09-300001559720us-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:ShortTermInvestmentsMemberus-gaap:AssetBackedSecuritiesMember2024-09-300001559720us-gaap:ShortTermInvestmentsMember2024-09-300001559720us-gaap:OtherNoncurrentAssetsMemberus-gaap:CorporateDebtSecuritiesMember2024-09-3000015597202023-01-012023-12-310001559720us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CertificatesOfDepositMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CertificatesOfDepositMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CertificatesOfDepositMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CertificatesOfDepositMember2023-12-310001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CertificatesOfDepositMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember2023-12-310001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignExchangeMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:ForeignExchangeMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001559720us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignExchangeMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeMember2023-12-310001559720us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CertificatesOfDepositMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CertificatesOfDepositMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CertificatesOfDepositMember2024-09-300001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CertificatesOfDepositMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember2024-09-300001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-09-300001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignExchangeMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:ForeignExchangeMemberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300001559720us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignExchangeMemberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001559720us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeMember2024-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2023-12-310001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2024-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2023-12-310001559720us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2024-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberabnb:AccruedExpensesAccountsPayableAndOtherCurrentLiabilitiesMember2023-12-310001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberabnb:AccruedExpensesAccountsPayableAndOtherCurrentLiabilitiesMember2024-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMember2023-12-310001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMember2024-09-300001559720us-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001559720us-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberabnb:AccruedExpensesAccountsPayableAndOtherCurrentLiabilitiesMember2023-12-310001559720us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberabnb:AccruedExpensesAccountsPayableAndOtherCurrentLiabilitiesMember2024-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-07-012023-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-07-012024-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-09-300001559720us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001559720us-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001559720us-gaap:ForeignExchangeContractMember2023-07-012023-09-300001559720us-gaap:ForeignExchangeContractMember2024-07-012024-09-300001559720us-gaap:ForeignExchangeContractMember2023-01-012023-09-300001559720us-gaap:ForeignExchangeContractMember2024-01-012024-09-300001559720us-gaap:ForeignExchangeMemberus-gaap:NondesignatedMember2023-12-310001559720us-gaap:ForeignExchangeMemberus-gaap:NondesignatedMember2024-09-300001559720us-gaap:ForeignExchangeMemberus-gaap:CashFlowHedgingMember2023-12-310001559720us-gaap:ForeignExchangeMemberus-gaap:CashFlowHedgingMember2024-09-300001559720abnb:SeniorNotesDue2026Memberus-gaap:ConvertibleDebtMember2021-03-080001559720abnb:SeniorNotesDue2026Memberus-gaap:ConvertibleDebtMember2024-09-300001559720abnb:SeniorNotesDue2026Memberus-gaap:ConvertibleDebtMember2023-12-310001559720abnb:A2022CreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-01-012022-12-310001559720abnb:A2022CreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-12-310001559720abnb:A2022CreditFacilityMemberus-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2022-12-310001559720abnb:A2022CreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2024-09-300001559720abnb:A2022CreditFacilityMemberus-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2024-09-3000015597202023-05-012023-05-310001559720us-gaap:SubsequentEventMember2024-10-240001559720srt:MinimumMember2024-01-012024-09-300001559720srt:MaximumMember2024-01-012024-09-300001559720srt:MinimumMember2024-09-300001559720srt:MaximumMember2024-09-300001559720abnb:CanadaDigitalServiceTaxMembersrt:MinimumMember2024-09-300001559720abnb:CanadaDigitalServiceTaxMembersrt:MaximumMember2024-09-300001559720abnb:HostsWithholdingTaxObligationsMember2023-12-310001559720abnb:HostsWithholdingTaxObligationsMember2024-09-300001559720abnb:WithholdingIncomeTaxesMembersrt:MinimumMember2024-01-012024-09-300001559720abnb:WithholdingIncomeTaxesMembersrt:MaximumMember2024-01-012024-09-300001559720us-gaap:ForeignCountryMember2023-05-012023-05-310001559720us-gaap:ForeignCountryMember2023-12-132023-12-130001559720us-gaap:InternalRevenueServiceIRSMember2020-12-012020-12-310001559720us-gaap:RestrictedStockUnitsRSUMember2024-01-012024-09-300001559720us-gaap:RestrictedStockUnitsRSUMember2023-01-012023-09-300001559720us-gaap:EmployeeStockOptionMember2023-07-012023-09-300001559720us-gaap:EmployeeStockOptionMember2024-07-012024-09-300001559720us-gaap:EmployeeStockOptionMember2023-01-012023-09-300001559720us-gaap:EmployeeStockOptionMember2024-01-012024-09-300001559720us-gaap:RestrictedStockUnitsRSUMember2023-07-012023-09-300001559720us-gaap:RestrictedStockUnitsRSUMember2024-07-012024-09-300001559720abnb:ShareRepurchaseProgram2023Member2023-05-310001559720abnb:ShareRepurchaseProgram2024Member2024-02-290001559720us-gaap:CommonClassAMember2024-07-012024-09-300001559720us-gaap:CommonClassAMember2024-01-012024-09-300001559720abnb:ClassACommonStockWarrantsMember2023-12-310001559720abnb:ClassACommonStockWarrantsMember2024-06-300001559720abnb:ClassACommonStockWarrantsMember2024-09-300001559720abnb:AristotleBaloghMember2024-07-012024-09-300001559720abnb:AristotleBaloghMember2024-09-300001559720abnb:BrianCheskyMember2024-07-012024-09-300001559720abnb:BrianCheskyMember2024-09-300001559720abnb:JosephGebbiaMember2024-07-012024-09-300001559720abnb:JosephGebbiaMember2024-09-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)
☒
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2024
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: 001-39778
______________
ABNBLogo.jpg
Airbnb, Inc.
(Exact Name of Registrant as Specified in Its Charter)
______________
Delaware26-3051428
(State or Other Jurisdiction of Incorporation or Organization)(I.R.S. Employer Identification No.)
888 Brannan Street
San Francisco, California 94103
(Address of Principal Executive Offices) (Zip Code)
(415) 728-0108
(Registrant’s Telephone Number, Including Area Code)
______________
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol(s)
Name of Each Exchange on Which Registered
Class A common stock, par value $0.0001 per share
ABNBThe Nasdaq Stock Market
______________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of October 25, 2024, 432,876,590 shares of the registrant's Class A common stock were outstanding, 191,895,050 shares of the registrant's Class B common stock were outstanding, no shares of the registrant’s Class C common stock were outstanding, and 9,200,000 shares of the registrant’s Class H common stock were outstanding.


AIRBNB, INC.
Form 10-Q

TABLE OF CONTENTS
Page
1
PART I. FINANCIAL INFORMATION
Item 1.
Item 3.
PART II. OTHER INFORMATION
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.


Special Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “goal,” “objective,” “seeks,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about:

•the effects of macroeconomic conditions, including inflation, slower growth or recession, higher interest rates, high unemployment, and foreign currency fluctuations, on the demand for travel or similar experiences;
•the effects of fluctuations in demand for host homes, including lower demand in certain areas or as a result of oversupply in others;
•the effects of supply constraints on availability of host homes;
•our ability to attract and retain hosts and guests;
•our ability to effectively manage our exposure to fluctuations in foreign currency exchange rates;
•the impact of the ongoing armed conflicts around the world on our business;
•our expectations regarding our financial performance, including our revenue, costs, Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization, and Free Cash Flow;
•our expectations regarding future operating performance, including Nights and Experiences Booked, Gross Booking Value (“GBV”), and Average Daily Rate;
•our ability to successfully compete in our industry;
•our expectations regarding the resilience of our model, including in areas such as domestic travel, short-distance travel, travel outside of top cities, and long-term stays;
•our expectations regarding lodging tax obligations and other non-income tax matters;
•our ability to stay in compliance with laws and regulations that currently apply or may become applicable to our business, both in the United States and internationally, and our expectations regarding various laws and restrictions that relate to our business;
•seasonality and the effects of seasonal trends on our results of operations;
•our expectations regarding the impact of our marketing strategy, and our ability to continue to attract guests and hosts to our platform through direct and unpaid channels;
•anticipated trends, developments, and challenges in our industry, business, and the highly competitive markets in which we operate;
•our ability to anticipate market needs or develop new or enhanced offerings and services to meet those needs;
•our ability to manage expansion into international markets and new businesses;
•laws, regulations, and rules that affect the short-term rental, long-term rental, and home sharing business that have limited and may continue to limit the ability or willingness of hosts to share their spaces over our platform and expose our hosts or us to significant fees or penalties;
•the impact on our income as a result of the release of valuation allowances on deferred tax assets;
•our expectations regarding our income tax liabilities, including anticipated increases in foreign taxes, and the adequacy of our reserves;
•our expectations regarding fluctuations in our effective tax rate, including changes to valuation allowances, and the adequacy of our reserves;
•our expectations regarding the adequacy of our reserves and settlement discussions related to tax audits;
•our expectations regarding the impact of the recently enacted Corporate Alternative Minimum Tax;
•our ability to effectively manage our growth and expand our infrastructure and our ability to maintain our corporate culture, and our employee initiatives;
•the safety, affordability, and convenience of our platform and our offerings;
•our ability to successfully defend litigation brought against us;
•the sufficiency of our cash, cash equivalents, and investments to meet our liquidity needs;
•our ability to maintain, protect, and enhance our intellectual property; and
•our ability to make required payments under our credit agreement and to comply with the various requirements of our indebtedness.

We caution you that the foregoing list does not contain all of the forward-looking statements made in this Quarterly Report on Form 10-Q. You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations, estimates, forecasts, and projections about future events and trends that we believe may affect our business, results of operations, financial condition, and prospects. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Quarterly Report on Form 10-Q, we cannot guarantee that the future results, levels of activity, performance, or events and circumstances reflected in the forward-looking statements will be achieved or occur at all. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors. Risks that contribute to the uncertain nature of the forward-looking statements include, among others, the Company’s ability to retain existing hosts and guests and add new hosts and guests; any decline or disruption in the travel and hospitality industries or economic downturn; the Company’s ability to compete successfully; changes to the laws and regulations that may limit hosts’ ability and willingness to provide their listings, and/or result in significant fines, liabilities, and penalties to the Company; the effect of extensive regulation and oversight, litigation, and other proceedings related to the Company’s business in a variety of areas; the effects of the COVID-19 pandemic on the Company’s business, including as a result of new strains or variants of the virus, the travel industry, travel trends, and the global economy generally; the Company’s ability to maintain its brand and reputation, and effectively drive traffic to its platform; the effectiveness of the Company’s strategy and business initiatives, including measures to improve trust and safety; the Company’s operations in international markets; the Company’s indebtedness; the Company’s final closing procedures, final adjustments, and other developments that may arise in the course of audit and review procedures; and changes in political, business, and economic conditions; as well as other risks listed or described from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”),
1
including our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Moreover, we operate in a highly competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.

The forward-looking statements made in this Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made available. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments we may make.

In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report on Form 10-Q, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements.

You should read this Quarterly Report on Form 10-Q and the documents that we reference in this Quarterly Report on Form 10-Q and have filed as exhibits to this Quarterly Report on Form 10-Q, completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of the forward-looking statements in this Quarterly Report on Form 10-Q by these cautionary statements.
2
PART I - FINANCIAL INFORMATION
Item 1. Condensed Consolidated Financial Statements

Airbnb, Inc.
Condensed Consolidated Balance Sheets
(in millions, except par value)
(unaudited)
December 31,
2023		September 30,
2024
Assets
Current assets:
Cash and cash equivalents$6,874 $7,670 
Short-term investments (including assets reported at fair value of $2,507 and $2,826, respectively)
3,197 3,583 
Funds receivable and amounts held on behalf of customers5,869 6,573 
Prepaids and other current assets (including customer receivables of $249 and $210 and allowances of $44 and $35, respectively)
569 493 
Total current assets16,509 18,319 
Deferred tax assets, net
2,881 2,601 
Goodwill and intangible assets, net792 783 
Other assets, noncurrent463 469 
Total assets$20,645 $22,172 
Liabilities and Stockholders’ Equity
Current liabilities:
Accrued expenses, accounts payable, and other current liabilities$2,654 $3,106 
Funds payable and amounts payable to customers5,869 6,573 
Unearned fees1,427 1,657 
Total current liabilities9,950 11,336 
Long-term debt1,991 1,994 
Other liabilities, noncurrent539 354 
Total liabilities12,480 13,684 
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock, $0.0001 par value:
Class A - authorized 2,000 shares; 438 and 435 shares issued & outstanding, respectively;
Class B - authorized 710 shares; 200 and 192 shares issued & outstanding, respectively;
Class C - authorized 2,000 shares; zero shares issued & outstanding, respectively; and
Class H - authorized 26 shares; 9 shares issued and zero shares outstanding, respectively
— — 
Additional paid-in capital11,639 12,378 
Accumulated other comprehensive loss(49)(47)
Accumulated deficit(3,425)(3,843)
Total stockholders’ equity8,165 8,488 
Total liabilities and stockholders’ equity$20,645 $22,172 


The accompanying notes are an integral part of these condensed consolidated financial statements.
3
Airbnb, Inc.
Condensed Consolidated Statements of Operations
(in millions, except per share amounts)
(unaudited)
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Revenue$3,397 $3,732 $7,699 $8,622 
Costs and expenses:
Cost of revenue459 465 1,319 1,451 
Operations and support316 369 915 992 
Product development419 524 1,290 1,518 
Sales and marketing403 514 1,339 1,601 
General and administrative304 335 822 937 
Total costs and expenses1,901 2,207 5,685 6,499 
Income from operations
1,496 1,525 2,014 2,123 
Interest income192 207 529 635 
Other income (expense), net
(9)3 (58)(49)
Income before income taxes1,679 1,735 2,485 2,709 
Provision for (benefit from) income taxes
(2,695)367 (2,656)522 
Net income $4,374 $1,368 $5,141 $2,187 
Net income per share attributable to Class A and Class B common stockholders:
Basic$6.83 $2.17 $8.08 $3.45 
Diluted$6.63 $2.13 $7.74 $3.38 
Weighted-average shares used in computing net income per share attributable to Class A and Class B common stockholders:
Basic640 631 636 634 
Diluted660 642 665 648 
The accompanying notes are an integral part of these condensed consolidated financial statements.
4
Airbnb, Inc.
Condensed Consolidated Statements of Comprehensive Income
(in millions)
(unaudited)
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Net income $4,374 $1,368 $5,141 $2,187 
Other comprehensive income (loss):
Net unrealized gain (loss) on available-for-sale marketable securities, net of tax(1)13 (5)8 
Net unrealized gain (loss) on cash flow hedges, net of tax37 (68)35 (6)
Foreign currency translation adjustments(8)13 (3)— 
Other comprehensive income (loss)28 (42)27 2 
Comprehensive income $4,402 $1,326 $5,168 $2,189 


The accompanying notes are an integral part of these condensed consolidated financial statements.
5

Airbnb, Inc.
Condensed Consolidated Statements of Stockholders’ Equity
(in millions)
(unaudited)
Nine months ended September 30, 2023
Common StockAdditional
Paid-In
Capital		Accumulated
Other
Comprehensive Loss		Accumulated
Deficit		Total
Stockholders’ Equity
Shares
Amount
Balances as of December 31, 2022631 $— $11,557 $(32)$(5,965)$5,560 
Net income— — — — 117 117 
Other comprehensive income— — — 2 — 2 
Common stock and stock-based awards issued, net of shares withheld for employee taxes3 — *(138)— — (138)
Stock-based compensation— — 243 — — 243 
Repurchases of common stock(4)— *— — (493)(493)
Balances as of March 31, 2023630 — 11,662 (30)(6,341)5,291 
Net income— — — — 650 650 
Other comprehensive loss— — — (3)— (3)
Common stock and stock-based awards issued, net of shares withheld for employee taxes8 — *(714)— — (714)
Issuance of common stock under employee stock purchase plan
— *— *31 — — 31 
Stock-based compensation— — 311 — — 311 
Repurchases of common stock(4)— *— — (507)(507)
Balances as of June 30, 2023634 — 11,290 (33)(6,198)5,059 
Net income— — — — 4,374 4,374 
Other comprehensive income— — — 28 — 28 
Shares issued upon net settlement of warrants exercised5 — *— — — — 
Common stock and stock-based awards issued, net of shares withheld for employee taxes4 — *(131)— — (131)
Stock-based compensation—— 293 — — 293 
Repurchases of common stock(4)— *— — (500)(500)
Balances as of September 30, 2023639 $— $11,452 $(5)$(2,324)$9,123 
*Amounts round to zero and do not change rounded totals.

The accompanying notes are an integral part of these condensed consolidated financial statements.
6
Airbnb, Inc.
Condensed Consolidated Statements of Stockholders’ Equity
(in millions)
(unaudited)
Nine months ended September 30, 2024
Common StockAdditional
Paid-In
Capital		Accumulated
Other
Comprehensive
Loss		Accumulated
Deficit		Total
Stockholders’ Equity
Shares
Amount
Balances as of December 31, 2023638 $— $11,639 $(49)$(3,425)$8,165 
Net income— — — — 264 264 
Other comprehensive income— — — 40 — 40 
Common stock and stock-based awards issued, net of shares withheld for employee taxes3 — *(122)— — (122)
Stock-based compensation— — 302 — — 302 
Repurchases of common stock(5)— *— — (753)(753)
Balances as of March 31, 2024636 — 11,819 (9)(3,914)7,896 
Net income— — — — 555 555 
Other comprehensive income— — — 4 — 4 
Shares issued upon net settlement of warrants exercised1 — *— — — — 
Common stock and stock-based awards issued, net of shares withheld for employee taxes2 — *(125)— — (125)
Issuance of common stock under employee stock purchase plan
— *— *37 — — 37 
Stock-based compensation— — 385 — — 385 
Repurchases of common stock(5)— *— — (750)(750)
Balances as of June 30, 2024634 — 12,116 (5)(4,109)8,002 
Net income— — — — 1,368 1,368 
Other comprehensive loss
— — — (42)— (42)
Common stock and stock-based awards issued, net of shares withheld for employee taxes
1 — *(103)— — (103)
Stock-based compensation— — 365 — — 365 
Repurchases of common stock(8)— *— — (1,102)(1,102)
Balances as of September 30, 2024627 $— $12,378 $(47)$(3,843)$8,488 
*Amounts round to zero and do not change rounded totals.
The accompanying notes are an integral part of these condensed consolidated financial statements.
7
Airbnb, Inc.
Condensed Consolidated Statements of Cash Flows
(in millions)
(unaudited)
Nine Months Ended September 30,
20232024
Cash flows from operating activities:
Net income $5,141 $2,187 
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization28 43 
Stock-based compensation expense830 1,039 
Deferred income taxes(2,759)304 
Other, net(9)50 
Changes in operating assets and liabilities:
Prepaids and other assets(42)(22)
Accrued expenses and other liabilities348 218 
Unearned fees284 233 
Net cash provided by operating activities3,821 4,052 
Cash flows from investing activities:
Purchases of short-term investments(2,365)(2,449)
Sales and maturities of short-term investments1,828 2,079 
Other investing activities, net(30)(26)
Net cash used in investing activities
(567)(396)
Cash flows from financing activities:
Taxes paid related to net share settlement of equity awards(1,023)(422)
Proceeds from exercise of equity awards and employee stock purchase plan68 107 
Repurchases of common stock(1,500)(2,592)
Change in funds payable and amounts payable to customers1,196 665 
Net cash used in financing activities
(1,259)(2,242)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash(10)117 
Net increase in cash, cash equivalents, and restricted cash1,985 1,531 
Cash, cash equivalents, and restricted cash, beginning of period12,103 12,667 
Cash, cash equivalents, and restricted cash, end of period$14,088 $14,198 

The accompanying notes are an integral part of these condensed consolidated financial statements.
8

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)

Note 1. Description of Business

Airbnb, Inc. (the “Company” or “Airbnb”) was incorporated in Delaware in June 2008 and is headquartered in San Francisco, California. The Company operates a global platform for unique stays and experiences. The Company’s marketplace model connects hosts and guests (collectively referred to as “customers”) online or through mobile devices to book spaces and experiences around the world.

Note 2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial information. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2023, included in the Company’s Annual Report on Form 10-K, filed with the SEC on February 16, 2024. The results for the interim periods are not necessarily indicative of results for the full year. Certain immaterial amounts in prior periods have been reclassified to conform with current period presentation.

In the opinion of management, these unaudited condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of the unaudited condensed consolidated financial position, results of operations and cash flows for these interim periods.

Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries in accordance with consolidation accounting guidance. All intercompany transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. The Company regularly evaluates its estimates, including those related to bad debt reserves, fair value of investments, useful lives of long-lived assets and intangible assets, valuation of goodwill and intangible assets from acquisitions, contingent liabilities, insurance reserves, revenue recognition, valuation of common stock, stock-based compensation, and income and non-income taxes, among others. Actual results could differ materially from these estimates.

As the impact of the uncertain macroeconomic conditions, including inflation and rising interest rates, continues to evolve, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require increased judgment. These estimates and assumptions may change in future periods and will be recognized in the unaudited condensed consolidated financial statements as new events occur and additional information becomes known. To the extent the Company’s actual results differ materially from those estimates and assumptions, the Company’s future unaudited condensed consolidated financial statements could be affected.

Recently Adopted Accounting Standards

In June 2022, the Financial Accounting Standards Board (the “FASB”) issued guidance related to the fair value measurement of an equity security subject to contractual sale restrictions that prohibit the sale of the equity security. The new guidance also introduced new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. The Company adopted the guidance effective January 1, 2024. There was no impact to the Company’s unaudited condensed consolidated financial statements or disclosures upon adoption.

Recently Issued Accounting Standards Not Yet Adopted

In November 2024, the FASB issued an update to improve the disclosures about an entity’s expenses, for both annual and interim periods in a tabular format in the footnotes to the financial statements, to include disaggregated information about specific categories underlying certain income statement expense line items. The update is effective for public companies on a prospective basis, with the option for retrospective application in fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements.

In December 2023, the FASB issued an update which expands income tax disclosure in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The update is effective for public companies in fiscal years beginning after December 15, 2024 on a prospective basis, with the option to apply the update retrospectively. Early adoption is permitted. The Company intends to adopt the new guidance on the effective date and does not expect the adoption to have a material impact on its unaudited condensed consolidated financial statements other than the expanded footnote disclosure.

In November 2023, the FASB issued an update to improve disclosure of reportable segments on an annual and interim basis, primarily through enhanced disclosures about significant segment expenses. The update is effective for public companies in fiscal years beginning after December 15, 2023, and for interim periods beginning after December 15, 2024, on a retrospective basis with early adoption
9

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
permitted. The Company does not expect the adoption of the new guidance to have a material impact on its unaudited condensed consolidated financial statements other than the expanded footnote disclosure.

There are other new accounting pronouncements issued by the FASB that the Company has adopted or will adopt, as applicable, and the Company does not believe any of these accounting pronouncements have had, or will have, a material impact on its unaudited condensed consolidated financial statements or disclosures.

Note 3. Supplemental Financial Statement Information

Cash, Cash Equivalents, and Restricted Cash

The following table reconciles cash, cash equivalents, and restricted cash reported on the Company’s unaudited condensed consolidated balance sheets to the total amount presented in the unaudited condensed consolidated statements of cash flows (in millions):

December 31,
2023		September 30,
2024
Cash and cash equivalents$6,874 $7,670 
Cash and cash equivalents included in funds receivable and amounts held on behalf of customers5,769 6,501 
Restricted cash included in prepaids and other current assets
24 27 
Total cash, cash equivalents, and restricted cash presented in the unaudited condensed consolidated statements of cash flows$12,667 $14,198 

Supplemental Disclosures of Cash Flow Information

Supplemental cash flow information consisted of the following (in millions):

Nine Months Ended
September 30,
20232024
Cash paid for income taxes, net of refunds
$69 $302 
Non-cash financing activities:
Net settlement of cashless stock options exercised$36 $— 
Net settlement of cashless warrants exercised$171 $22 

Supplemental disclosures of balance sheet information

Supplemental balance sheet information consisted of the following (in millions):

December 31,
2023		September 30,
2024
Other assets, noncurrent:
Property and equipment, net$160 $166 
Operating lease right-of-use assets119 96 
Other184 207 
Other assets, noncurrent$463 $469 
Accrued expenses, accounts payable, and other current liabilities:
Indirect taxes payable and estimated lodging and withholding tax liabilities
$1,119 $1,473 
Compensation and employee benefits436 469 
Accounts payable141 181 
Operating lease liabilities, current61 54 
Other897 929 
Accrued expenses, accounts payable, and other current liabilities$2,654 $3,106 
Other liabilities, noncurrent:
Operating lease liabilities, noncurrent$252 $211 
Other liabilities, noncurrent287 143 
Other liabilities, noncurrent$539 $354 

10

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
Payments to Customers

The Company makes payments to customers as part of its incentive programs (composed of referral programs and marketing promotions) and refund activities. The payments are generally in the form of coupon credits to be applied toward future bookings or as cash refunds.

The following table summarizes total payments made to customers (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Reductions to revenue
$114 $153 $269 $358 
Charges to operations and support
29 43 75 93 
Charges to sales and marketing expense
18 25 47 44 
Total payments made to customers
$161 $221 $391 $495 

Revenue Disaggregated by Geographic Region

The following table presents revenue disaggregated by listing location (in millions):

Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
North America$1,478 $1,572 $3,595 $3,895 
Europe, the Middle East, and Africa
1,533 1,726 2,932 3,341 
Latin America178 199 576 691 
Asia Pacific208 235 596 695 
Total revenue disaggregated by geographic region$3,397 $3,732 $7,699 $8,622 

Note 4. Investments

The following tables summarize the Company’s investments by major security type (in millions):

December 31, 2023
Amortized
Cost 		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Short-term investments
Debt securities:
Certificates of deposit$172 $— $— $172 
Government bonds332 1 — 333 
Commercial paper366 — — 366 
Corporate debt securities1,490 4 (3)1,491 
Mortgage-backed and asset-backed securities
148 1 (4)145 
Total debt securities2,508 6 (7)2,507 
Time deposits690 — — 690 
Total short-term investments
$3,198 $6 $(7)$3,197 
Long-term investments (1)
Debt securities:
Corporate debt securities$13 $— $(9)$4 

11

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
September 30, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Short-term investments
Debt securities:
Certificates of deposit
$10 $— $— $10 
Government bonds
300 1 — 301 
Commercial paper
231 — — 231 
Corporate debt securities
1,925 10 (1)1,934 
Mortgage-backed and asset-backed securities
350 2 (2)350 
Total debt securities2,816 13 (3)2,826 
Time deposits757 — — 757 
Total short-term investments
$3,573 $13 $(3)$3,583 
Long-term investments (1)
Debt securities:
Corporate debt securities$13 $— $(9)$4 

(1)Classified within other assets, noncurrent on the unaudited condensed consolidated balance sheets.

As of December 31, 2023 and September 30, 2024, the Company did not have any available-for-sale debt securities for which the Company recorded credit-related losses.

Unrealized gains and losses, net of tax before reclassifications from accumulated other comprehensive loss (“AOCI”) to other income (expense), net, were not material for the three and nine months ended September 30, 2023 and 2024. Realized gains and losses reclassified from AOCI to other income (expense), net, were not material for the three and nine months ended September 30, 2023 and 2024.

Debt securities in an unrealized loss position had an estimated fair value of $777 million and $406 million, and unrealized losses of $16 million and $13 million as of December 31, 2023 and September 30, 2024, respectively. A total of $283 million and $202 million of these securities, with unrealized losses of $14 million and $12 million, were in a continuous unrealized loss position for more than twelve months as of December 31, 2023 and September 30, 2024, respectively.

The following table summarizes the contractual maturities of the Company’s available-for-sale debt securities (in millions):

September 30, 2024
Amortized
Cost		Estimated
Fair Value
Due within one year$1,860 $1,863 
Due after one year through five years
875 874 
Due after five years
94 93 
Total$2,829 $2,830 

Equity Investments Without Readily Determinable Fair Value

The Company holds investments in privately-held companies in the form of equity securities without readily determinable fair values and in which the Company does not have a controlling interest or significant influence. These investments had a net carrying value of $83 million and $38 million as of December 31, 2023 and September 30, 2024, respectively, and are classified within other assets, noncurrent on the unaudited condensed consolidated balance sheets.

For the nine months ended September 30, 2024, the Company recorded a non-cash impairment charge of $45 million due to a downward adjustment for an observable price change. There were no upward or downward adjustments for observable price changes or impairment charges recorded for the three months ended September 30, 2024.

There were no upward or downward adjustments for observable price changes or impairment charges recorded for the three and nine months ended September 30, 2023.

As of September 30, 2024, the cumulative impairment and downward adjustments for observable price changes were $101 million.

12

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
Note 5. Fair Value Measurements and Financial Instruments

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in millions):
December 31, 2023
Level 1Level 2Level 3Total
Assets
Cash and cash equivalents:
Money market funds$2,018 $— $— $2,018 
Certificates of deposit— 1 — 1 
Government bonds— 115 — 115 
Commercial paper— 223 — 223 
Corporate debt securities— 12 — 12 
2,018 351 — 2,369 
Short-term investments:
Certificates of deposit— 172 — 172 
Government bonds— 333 — 333 
Commercial paper— 366 — 366 
Corporate debt securities— 1,491 — 1,491 
Mortgage-backed and asset-backed securities— 145 — 145 
— 2,507 — 2,507 
Funds receivable and amounts held on behalf of customers:
Money market funds1,360 — — 1,360 
Prepaids and other current assets:
Foreign exchange derivative assets— 27 — 27 
Other assets, noncurrent:
Corporate debt securities— — 4 4 
Total assets at fair value$3,378 $2,885 $4 $6,267 
Liabilities
Accrued expenses, accounts payable, and other current liabilities:
Foreign exchange derivative liabilities$— $55 $— $55 
Other liabilities, noncurrent:
Foreign exchange derivative liabilities— 5 — 5 
Total liabilities at fair value$— $60 $— $60 
13

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
September 30, 2024
Level 1Level 2Level 3Total
Assets
Cash and cash equivalents:
Money market funds$1,273 $— $— $1,273 
Government bonds— 47 — 47 
Commercial paper— 75 — 75 
Corporate debt securities— 23 — 23 
1,273 145 — 1,418 
Short-term investments:
Certificates of deposit— 10 — 10 
Government bonds— 301 — 301 
Commercial paper— 231 — 231 
Corporate debt securities— 1,934 — 1,934 
Mortgage-backed and asset-backed securities— 350 — 350 
— 2,826 — 2,826 
Funds receivable and amounts held on behalf of customers:
Money market funds1,640 — — 1,640 
Prepaids and other current assets:
Foreign exchange derivative assets— 12 — 12 
Other assets, noncurrent:
Corporate debt securities— — 4 4 
Total assets at fair value$2,913 $2,983 $4 $5,900 
Liabilities
Accrued expenses, accounts payable and other current liabilities:
Foreign exchange derivative liabilities$— $72 $— $72 
Other liabilities, noncurrent:
Foreign exchange derivative liabilities— 2 — 2 
Total liabilities at fair value$— $74 $— $74 

There were no material changes in unrealized losses included in other comprehensive income (loss) relating to investments measured at fair value for which the Company has utilized Level 3 inputs to determine fair value during the nine months ended September 30, 2023 and 2024.

There were no transfers of financial instruments into or out of Level 3 during the nine months ended September 30, 2023 and 2024.

Note 6. Derivative Instruments and Hedging

The Company has a portion of its business denominated and transacted in foreign currencies, which subjects the Company to foreign exchange risk, and uses derivative instruments to manage financial exposures that occur in the normal course of business. The Company does not hold or issue derivatives for trading or speculative purposes.

The Company may elect to designate certain derivatives to partially offset its business exposure to foreign exchange risk. However, the Company may choose not to hedge certain exposures for a variety of reasons including accounting considerations or the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign exchange rates.

Foreign Exchange Risk

To protect revenue from fluctuations in foreign currency exchange rates, the Company may enter into forward contracts, option contracts, or other instruments, and may designate these instruments as cash flow hedges. The Company generally hedges portions of its forecasted foreign currency exposure associated with revenue, for up to 18 months.

The Company may also enter into derivative instruments that are not designated as accounting hedges to offset a portion of the foreign currency exchange gains and losses generated by the remeasurement of certain assets and liabilities denominated in non-functional currencies.

14

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
The following table summarizes the effect of derivative instruments on the Company’s unaudited condensed consolidated balance sheets (in millions):

Derivative Assets(1)
Location
December 31,
2023		September 30,
2024
Derivatives designated as hedging instruments:
Foreign exchange contracts (current) Prepaids and other current assets$4 $— 
Derivatives not designated as hedging instruments:
Foreign exchange contracts (current)Prepaids and other current assets$23 $12 

Derivative Liabilities(1)
Location
December 31,
2023		September 30,
2024
Derivatives designated as hedging instruments:
Foreign exchange contracts (current)
Accrued expenses, accounts payable, and other current liabilities
$25 $49 
Foreign exchange contracts (noncurrent)Other liabilities, noncurrent5 2 
Total derivatives designated as hedging instruments$30 $51 
Derivatives not designated as hedging instruments:
Foreign exchange contracts (current)Accrued expenses, accounts payable, and other current liabilities$30 $23 

(1)Derivative assets and derivatives liabilities are measured using Level 2 inputs.

To limit credit risk, the Company generally enters into master netting arrangements with the respective counterparties to the Company’s derivative contracts, under which the Company is allowed to settle transactions with a single net amount payable by one party to the other. As of September 30, 2024, the potential effect of these rights of off-set associated with the Company’s derivative contracts would be a reduction to both derivative assets and liabilities of $12 million, resulting in net derivative liabilities of $62 million.

The effect of derivative instruments designated as hedging instruments on the unaudited condensed consolidated statements of operations was not material for the three and nine months ended September 30, 2024.

Derivative instruments designated as hedging instruments on AOCI

The following table presents the impact of derivative instruments designated as cash flow hedges on AOCI, net of tax (in millions):

Gain (Loss) Recognized in Other Comprehensive Income (Loss)
Gain (Loss) Reclassified from
AOCI into Revenue
Three Months Ended September 30,Nine Months Ended September 30,Three Months Ended September 30,Nine Months Ended September 30,
20232024202320242023202420232024
Derivatives designated as cash flow hedges:
Foreign exchange contracts$36 $(65)$34 $6 $(1)$3 $(1)$12 

As of September 30, 2024, cumulative unrealized losses recorded in AOCI, net of tax related to derivative instruments designated as hedging instruments were $37 million.

15

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
Derivative instruments not designated as hedging instruments

The following table presents the impact of activity of derivative instruments not designated as hedging instruments on the unaudited condensed consolidated statements of operations (in millions):

Realized Loss on Derivatives
Unrealized Gain (Loss) on Derivatives
Three Months Ended September 30,Nine Months Ended September 30,Three Months Ended September 30,Nine Months Ended September 30,
20232024202320242023202420232024
Derivatives not designated as hedging instruments:
Foreign exchange contracts$(7)$(15)$(91)$(34)$54 $(38)$66 $(4)

The total notional amount of outstanding derivatives not designated as hedging instruments was $2.4 billion and $1.6 billion as of December 31, 2023 and September 30, 2024, respectively.

Cash flow hedges

The total notional amount of outstanding foreign currency derivatives designated as cash flow hedges was $2.0 billion and $2.2 billion as of December 31, 2023 and September 30, 2024, respectively.

As of September 30, 2024, approximately $34 million of deferred net losses on both outstanding and matured derivatives in AOCI are expected to be reclassified to revenue during the next 12 months concurrent with the underlying hedged transactions which will be recorded in revenue. Actual amounts ultimately reclassified to revenue are dependent on the exchange rates in effect when derivative contracts currently outstanding mature.

Note 7. Debt

Convertible Senior Notes

In 2021, the Company issued $2.0 billion aggregate principal amount of 0% convertible senior notes due 2026 (the "2026 Notes") pursuant to an indenture, dated March 8, 2021 (the "Indenture"), between the Company and U.S. Bank National Association, as trustee.

As of both December 31, 2023 and September 30, 2024, total outstanding debt, net of unamortized debt discount and debit issuance costs, was $2.0 billion. Interest expense was immaterial for both the three and nine months ended September 30, 2023 and 2024.

As of September 30, 2024, the if-converted value of the 2026 Notes did not exceed the outstanding principal amount.

As of September 30, 2024, the total estimated fair value of the 2026 Notes was $1.9 billion and was determined based on a market approach using actual bids and offers of the 2026 Notes in an over-the-counter market on the last trading day of the period, or Level 2 inputs.

2022 Credit Facility

In 2022, the Company entered into a five-year unsecured Revolving Credit Agreement, which provides for initial commitments by a group of lenders led by Morgan Stanley Senior Funding, Inc. of $1.0 billion (“2022 Credit Facility”). The 2022 Credit Facility provides a $200 million sub-limit for the issuance of letters of credit.

The 2022 Credit Facility contains customary events of default, affirmative and negative covenants, including restrictions on the Company’s and certain of its subsidiaries’ ability to incur debt and liens, undergo fundamental changes, as well as certain financial covenants. The Company was in compliance with all financial covenants as of September 30, 2024.

As of September 30, 2024, no amounts were drawn under the 2022 Credit Facility and outstanding letters of credit totaled $25 million.

Note 8. Stock-Based Compensation

Stock-Based Compensation Expense

Stock-based compensation expense was $286 million and $362 million for the three months ended September 30, 2023 and 2024, respectively, and $830 million and $1.0 billion for the nine months ended September 30, 2023 and 2024, respectively.

16

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
Stock Option and Restricted Stock Unit Activity

A summary of stock option and restricted stock unit (“RSU”) activity under the Company’s equity incentive plans was as follows (in millions, except per share amounts):

Outstanding
Stock Options
Outstanding
RSUs
 Shares
Available for
Grant		Number of
Shares		Weighted-
Average
Exercise
Price		Number of
Shares		Weighted-
Average
Grant
Date Fair
Value
As of December 31, 2023134 7 $71.76 30 $85.35 
Granted(12)1 168.18 11 156.31 
Increase in shares available for grant13 — — — — 
Options exercised/RSUs vested(1)
3 (2)41.38 (7)127.68 
Canceled2 — — (2)143.43 
As of September 30, 2024140 6 $88.11 32 $96.73 

(1)RSUs vested are net of shares withheld for taxes.

In May 2023, 11.2 million stock options were exercised in cashless transactions pursuant to which the Company withheld and retired 5.7 million shares of common stock, valued at their fair market value on the exercise date, to cover the related $567 million of employee withholding taxes and $36 million of exercise cost.

The following table summarizes options outstanding and exercisable as of September 30, 2024 (in millions, except per share amounts and years):

Number of
Shares		Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic
Value
Options outstanding
6 $88.11 5.48$296 
Options exercisable
5 $74.14 4.69$286 

Note 9. Commitments and Contingencies

Commitments

The Company has commitments including purchase obligations for web-hosting services and other commitments for brand marketing. As of September 30, 2024, there were no material changes outside the ordinary course of business to the Company’s commitments, as disclosed in its Annual Report on Form 10-K for the year ended December 31, 2023.

On October 24, 2024, the Company entered into an eleventh amendment to the office lease agreement for the Company’s headquarters located at 888 Brannan Street in San Francisco. The impact of this amendment is not included in the unaudited condensed consolidated balance sheets as of September 30, 2024. The terms of the amendment will impact the consolidated financial statements as of December 31, 2024.

Under the amendment, the Company extended the term of the lease to September 30, 2037. The contractually agreed upon lease payments are approximately $178 million over the term of the lease extension. The Company will recognize the remeasurement of the right of use asset and liability in the consolidated balance sheets as of December 31, 2024.

Lodging Tax Obligations and Other Non-Income Tax Matters

Platform Related Taxes and Collection Obligations

Some states and localities in the United States and elsewhere in the world impose transient occupancy or lodging accommodations taxes (“Lodging Taxes”) on the use or occupancy of lodging accommodations or other traveler services. As of September 30, 2024, the Company collects and remits Lodging Taxes in approximately 33,000 jurisdictions around the world on behalf of its hosts. Such Lodging Taxes are generally remitted to tax jurisdictions within a 30 to 90-day period following the end of each month.

As of December 31, 2023 and September 30, 2024, the Company had an obligation to remit Lodging Taxes collected from guests on bookings in these jurisdictions totaling $274 million and $442 million, respectively. These payables were recorded in accrued expenses, accounts payable, and other current liabilities on the unaudited condensed consolidated balance sheets.

In jurisdictions where the Company does not collect and remit Lodging Taxes, hosts are primarily responsible for such taxes. The Company
17

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
has estimated Lodging Tax liabilities in a certain number of jurisdictions with respect to state, city, and local taxes where management believes it is probable that the Company can be held jointly liable with hosts for taxes and the related amounts can be reasonably estimated. As of December 31, 2023 and September 30, 2024, accrued obligations related to these estimated taxes, including estimated penalties and interest, totaled $114 million and $82 million, respectively. As of September 30, 2024, the Company estimates that the reasonably possible loss related to certain Lodging Taxes that can be determined in excess of the amounts accrued is between $45 million to $55 million; however, no assurance can be given as to the outcomes and the Company could be subject to significant additional tax liabilities. With respect to all other jurisdictions’ Lodging Taxes for which a loss is probable or reasonably possible, the Company is unable to determine an estimate of the possible loss or range of loss beyond the amounts already accrued.

The Company’s potential obligations with respect to Lodging Taxes could be affected by various factors, which include, but are not limited to, whether the Company determines or any tax authority asserts that the Company has a responsibility to collect lodging and related taxes on either historical or future transactions, or by the introduction of new ordinances and taxes that subject the Company’s operations to such taxes. Accordingly, the ultimate resolution of Lodging Taxes may be greater or less than the liabilities that the Company has recorded.

The Company is currently involved in disputes brought by certain domestic and international states and localities involving the payment of Lodging Taxes. These jurisdictions are asserting that the Company is liable or jointly liable with hosts to collect and remit Lodging Taxes. These disputes are in various stages and the Company continues to vigorously defend these claims. The Company believes that the statutes at issue impose a Lodging Tax obligation on the person exercising the taxable privilege of providing accommodations, or the Company’s hosts.

The imposition of such taxes on the Company could increase the cost of a guest booking and potentially cause a reduction in the volume of bookings on the Company’s platform, which would adversely impact the Company’s results of operations. The Company will continue to monitor the application and interpretation of lodging and related taxes and ordinances and will adjust accruals based on any new information or further developments.

The Company is under audit and inquiry by various domestic and foreign tax authorities with regard to non-income tax matters. The subject matter of these contingent liabilities primarily arises from the Company’s transactions with its customers. Such disputes involve the applicability of transactional taxes (such as sales, value-added, business, digital service, and similar taxes) to services provided, as well as the applicability of withholding tax on payments made to hosts.

The Company has estimated transactional tax liabilities in a certain number of jurisdictions where management believes it is probable that the Company can be held liable for such taxes and the related amounts can be reasonably estimated. As of September 30, 2024, accrued obligations related to these estimated taxes, including estimated penalties and interest, totaled $79 million. In addition, the Company has identified reasonably possible exposures related to transactional taxes and business taxes and has not accrued for these amounts since the likelihood of the contingent liability is less than probable. As of September 30, 2024, the Company estimates that the reasonably possible loss related to these matters in excess of the amounts accrued is between $215 million and $245 million; however, no assurance can be given as to the outcomes and the Company could be subject to significant additional tax liabilities.

As of December 31, 2023 and September 30, 2024, the Company accrued a total of $521 million and $445 million of estimated tax liabilities, including interest and penalties, related to hosts’ withholding tax obligations, respectively. As of September 30, 2024, the Company estimates that the reasonably possible loss related to withholding income taxes that can be determined in excess of the amounts accrued is between $150 million to $160 million; however, no assurance can be given as to the outcomes and the Company could be subject to significant additional tax liabilities. Due to the inherent complexity and uncertainty of these matters and judicial processes in certain jurisdictions, the final outcomes may exceed the estimated liabilities recorded.

In 2017, Italy passed a law purporting to require short-term rental platforms that process payments to withhold and remit host income tax and collect and remit tourist tax, amongst other obligations (“2017 Law”). The Company challenged this law before the Italian courts and the Court of Justice of the European Union (“CJEU”). In December 2022, the CJEU found that European law does not prohibit member states from passing legislation requiring short-term rental platforms to withhold income taxes from their hosts, however a requirement to appoint a tax representative, on which the 2017 Law and the withholding obligations are based, is contrary to European Union (“EU”) law. In October 2023, the Italian national court upheld the ruling of the CJEU. The subsidiary in Ireland continues to be subject to tax audits in Italy. It and other group subsidiaries, including the Italian subsidiary, could in the future be subject to further tax audits in Italy, including in relation to permanent establishment, transfer pricing, and withholding obligations.

In May 2023, the Guardia di Finanza de Milano (“GdF”) issued a Tax Audit Report recommending to the Italian tax authorities a formal tax assessment of 779 million Euro on Airbnb’s subsidiary in Ireland relating to the 2017 Law and associated withholding tax obligations. On December 13, 2023, without admitting any liability, Airbnb Ireland signed an agreement with the Italian Revenue Agency (“ITA”) in settlement of the 2017-2021 audit period for an aggregate payment of 576 million Euro ($621 million). Such agreement settles a dispute about Airbnb Ireland’s obligations to withhold and remit host income tax, including taxes, interest, and penalties, for those relevant periods. The GdF conducted a withholding tax audit of Airbnb Ireland UC for the 2022 and 2023 tax years and issued a report to the ITA in March 2024. The Company has been in ongoing settlement discussions with the ITA since June 2024, which are expected to continue through the fourth quarter of 2024.

With respect to all other transactional taxes and withholding tax on payments made to hosts for which a loss is probable or reasonably possible, the Company is unable to determine an estimate of the possible loss or range of loss beyond the amounts already accrued.

Payroll Taxes

The Company is subject to regular payroll tax examinations by various international, state and local jurisdictions. Although management believes its tax withholding remittance practices are appropriate, the Company may be subject to additional tax liabilities, including interest
18

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
and penalties, if any tax authority disagrees with the Company’s withholding and remittance practices, or if there are changes in laws, regulations, administrative practices, principles or interpretations related to payroll tax withholding in the various international, state and local jurisdictions.

Legal and Regulatory Matters

The Company has been and is currently a party to various legal and regulatory matters arising in the normal course of business. Such proceedings and claims, even if not meritorious, can require significant financial and operational resources, including the diversion of management’s attention from the Company’s business objectives.

Regulatory Matters

The Company operates in a complex legal and regulatory environment and its operations are subject to various U.S. and foreign laws, rules, and regulations, including those related to: Internet activities; short-term rentals, long-term rentals and home sharing; real estate, property rights, housing and land use; travel and hospitality; privacy and data protection; intellectual property; competition; health and safety; protection of minors; consumer protection; employment; payments, money transmission, economic and trade sanctions, anti-corruption and anti-bribery; taxation; and others. In addition, the nature of the Company’s business exposes it to inquiries and potential claims related to the compliance of the business with applicable law and regulations. In some instances, applicable laws and regulations do not yet exist or are being applied, interpreted or implemented to address aspects of the Company’s business, and such adoption or interpretation could further alter or impact the Company’s business.

In certain instances, the Company has been party to litigation with municipalities relating to or arising out of certain regulations. In addition, the implementation and enforcement of regulation can have an impact on the Company’s business.

Intellectual Property

The Company has been and is currently subject to claims relating to intellectual property, including alleged patent infringement. Adverse results in such lawsuits may include awards of substantial monetary damages, costly royalty or licensing agreements, or orders preventing the Company from offering certain features, functionalities, products, or services, and may also cause the Company to change its business practices or require development of non-infringing products or technologies, which could result in a loss of revenue or otherwise harm its business. To date, the Company has not incurred any material costs as a result of such cases and has not recorded any material liabilities in its consolidated financial statements related to such matters.

Litigation and Other Legal Proceedings

The Company is currently involved in, and may in the future be involved in, legal proceedings, claims, and government investigations in the ordinary course of business. These include proceedings, claims, and investigations relating to, among other things, regulatory matters, commercial matters, intellectual property, competition, tax, employment, pricing, discrimination, consumer rights, personal injury, and property rights.

Depending on the nature of the proceeding, claim, or investigation, the Company may be subject to monetary damage awards, fines, penalties, and/or injunctive orders. Furthermore, the outcome of these matters could materially adversely affect the Company’s business, results of operations, and financial condition. The outcomes of legal proceedings, claims, and government investigations are inherently unpredictable and subject to significant judgment to determine the likelihood and amount of loss related to such matters. While it is not possible to determine the outcomes, the Company believes based on its current knowledge that the resolution of all such pending matters will not, either individually or in the aggregate, have a material adverse effect on the Company’s business, results of operations, financial condition, or cash flows.

The Company establishes an accrued liability for loss contingencies related to legal matters when a loss is both probable and reasonably estimable. These accruals represent management’s best estimate of probable losses. Such currently accrued amounts are not material to the Company’s unaudited condensed consolidated financial statements. However, management’s views and estimates related to these matters may change in the future, as new events and circumstances arise and the matters continue to develop. Until the final resolution of legal matters, there may be an exposure to losses in excess of the amounts accrued. With respect to outstanding legal matters, based on current knowledge, the amount or range of reasonably possible loss will not, either individually or in the aggregate, have a material adverse effect on the Company’s business, results of operations, financial condition, or cash flows. Legal fees are expensed as incurred.

Host Protections

The Company offers AirCover coverage, which includes but is not limited to, the Company’s Host Damage Protection program that provides protection of up to $3 million for direct physical loss or damage to a host’s covered property caused by guests during a confirmed booking and when the host and guest are unable to resolve the dispute. The Company retains risk and also maintains insurance from third parties on a per claim basis to protect the Company’s financial exposure under this program. In addition, through third-party insurers and self-insurance mechanisms, including a wholly-owned captive insurance subsidiary, the Company provides insurance coverage for third-party bodily injury or property damage liability claims that occur during a stay. The Company’s Host Liability Insurance and Experiences Liability Insurance consists of a commercial general liability policy, with hosts and the Company as named insureds and landlords of hosts as additional insureds. The Host Liability Insurance and Experiences Liability Insurance provides primary coverage for up to $1 million per occurrence, subject to a $1 million cap per listing location, and includes various market standard conditions, limitations, and exclusions.

19

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
Indemnifications

The Company has entered into indemnification agreements with certain of its employees, officers and directors. The indemnification agreements and the Company’s Amended and Restated Bylaws (the “Bylaws”) require the Company to indemnify its directors and officers and those employees who have entered into indemnification agreements to the fullest extent not prohibited by Delaware law. Subject to certain limitations, the indemnification agreements and Bylaws also require the Company to advance expenses incurred by its directors and officers and those employees who have entered into indemnification agreements. No demands have been made upon the Company to provide indemnification or advancement under the indemnification agreements or the Bylaws, and thus, there are no indemnification or advancement claims that the Company is aware of that could have a material adverse effect on the Company’s business, results of operations, financial condition, or cash flows.

In the ordinary course of business, the Company has included limited indemnification provisions in certain agreements with parties with whom the Company has commercial relations, which provisions are of varying scope and terms with respect to indemnification of certain matters, which may include losses arising out of the Company’s breach of such agreements or out of intellectual property infringement claims made by third parties. It is not possible to determine the maximum potential loss under these indemnification provisions due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. To date, no significant costs have been incurred, either individually or collectively, in connection with the Company’s indemnification provisions.

Note 10. Income Taxes

The Company’s tax provision for interim periods is determined by using an estimated annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, the Company updates the estimated annual effective tax rate and makes a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to significant volatility due to several factors, including accurately predicting the Company’s pre-tax and taxable income and the mix of jurisdictions to which they relate, intercompany transactions, audit-related developments, and changes in statutes, regulations, case law, and administrative actions.

The Company recorded income tax benefit of $2.7 billion for both the three and nine months ended September 30, 2023. The income tax benefit was primarily due to the release of the valuation allowance of certain U.S. federal and state deferred tax assets during the three months ended September 30, 2023. The Company recorded income tax expense of $367 million and $522 million for the three and nine months ended September 30, 2024, respectively, which primarily related to current and deferred tax on U.S. and foreign earnings, net of the income tax benefit from excess tax benefits on stock-based compensation. The increase in tax expense was primarily driven by deferred tax expense on the utilization of U.S. deferred tax assets due to the lack of a valuation allowance in the current period.

The Company regularly assesses the need for a valuation allowance against its deferred tax assets each quarter. In making that assessment, the Company considers both positive and negative evidence in the various jurisdictions in which it operates related to the likelihood of realization of the deferred tax assets to determine, based on the weight of available evidence, whether it is more likely than not that some or all of the deferred tax assets will not be realized. As of September 30, 2023, based on all available positive and negative evidence, having demonstrated sustained profitability which is objective and verifiable, and taking into account anticipated future earnings, the Company concluded that it is more likely than not that its U.S. federal and state deferred tax assets will be realizable, with the exception of California research and development credits, capital loss carryovers, and certain losses subject to the dual consolidated loss rules. As of September 30, 2024, the Company continues to maintain a valuation allowance against its California research and development credit deferred tax assets due to the uncertainty regarding realizability of these deferred tax assets as they have not met the “more likely than not” realization criteria, particularly as the Company expects research and development tax credit generation to exceed its ability to use the credits in future years. When a change in valuation allowance is recognized during an interim period, the change in valuation allowance resulting from current year income is included in the annual effective tax rate and the release of valuation allowance supported by projections of future taxable income is recorded as a discrete tax benefit in the interim period. The Company will continue to monitor the need for a valuation allowance against its deferred tax assets on a quarterly basis.

The Company’s significant tax jurisdictions include the United States, California, and Ireland. The Company is currently under examination for income taxes by the Internal Revenue Service (“IRS”) for the 2013, 2016, 2017, and 2018 tax years. The primary issue under examination in the 2013 audit is the valuation of the Company’s international intellectual property which was sold to a subsidiary in 2013. In December 2020, the Company received a Notice of Proposed Adjustment (“NOPA”) from the IRS which proposed an increase to the Company’s U.S. taxable income that could result in additional income tax expense and cash liability of $1.3 billion, plus penalties and interest, which exceeds the reserve recorded in its consolidated financial statements by more than $1.0 billion. The Company strongly disagrees with the proposed adjustment and continues to vigorously contest it. In February 2021, the Company submitted a protest to the IRS describing its disagreement with the proposed adjustment and requesting the case be transferred to the IRS Independent Office of Appeals (“IRS Appeals”). In December 2021, the Company received a rebuttal from the IRS with the same proposed adjustments that were in the NOPA. In January 2022, the Company entered into an administrative dispute process with IRS Appeals. An acceptable outcome was not reached with IRS Appeals, and in May 2024, the Company received a Statutory Notice of Deficiency (“Notice”) from the IRS related to the aforementioned valuation of its international intellectual property. The Notice claims that the Company owes $1.3 billion in tax, plus penalties and interest. The Company will continue to pursue all available remedies to resolve this dispute. In July 2024, the Company petitioned the U.S. Tax Court (“Tax Court”) for redetermination, and if necessary, the Company will appeal the Tax Court’s decision to the appropriate appellate court. The Company believes that adequate amounts have been reserved for any adjustments that may ultimately result from these examinations. If the IRS prevails in the assessment of additional tax due based on its position and such tax and related interest and penalties, if any, exceeds the Company’s current reserves, such outcome could have a material adverse impact on the Company’s financial position and results of operations, and any assessment of additional tax could require a significant cash payment and have a material adverse impact on the Company’s unaudited condensed consolidated statements of cash flow.

20

Airbnb, Inc.
Notes to Condensed Consolidated Financial Statements (unaudited)
On August 16, 2022, the Inflation Reduction Act was signed into law, with tax provisions primarily focused on implementing a 15% minimum tax known as the Corporate Alternative Minimum Tax (“CAMT”) on global adjusted financial statement income and a 1% excise tax on net share repurchases. The Inflation Reduction Act became effective beginning in fiscal year 2023. The Company anticipates paying a material amount of additional federal taxes in 2024 due to the CAMT. The additional CAMT will result in tax credits that are expected to offset the Company’s federal tax in subsequent years, thus there is no impact to the overall tax provision.

Note 11. Net Income per Share

The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders for the periods indicated (in millions, except per share amounts):

Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202420232024
Net income $4,374 $1,368 $5,141 $2,187 
Add: convertible notes interest expense, net of tax1 1 2 2 
Net income - diluted$4,375 $1,369 $5,143 $2,189 
Weighted-average shares in computing net income per share attributable to Class A and Class B common stockholders:
Basic640 631 636 634 
Effect of dilutive securities20 11 29 14 
Diluted660 642 665 648 
Net income per share attributable to Class A and Class B common stockholders:
Basic$6.83 $2.17