HighGravityDataAirbnb — Nov 7, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001193125-24-253103
Showing in the filing
Effective tax rate
“approximately 20%”
Period
FY2024
Measure
GAAP-tied
Source
Prose
All guidance in this release · 15
Local payment methods across five continents for FY2025
“nearly 40”
Local payment methods offered for FY2025
“nearly 40 local payment methods across five continents”
Effective tax rate for FY2024
“approximately 20%”
Stock-based compensation (“SBC”) expense for FY2024
“approximately 25% higher than in full-year 2023”
SBC expense growth for the long term
“will grow largely in-line with headcount growth”
Nights and Experiences Booked growth for Q4 FY2024
“we expect year-over-year growth of Nights and Experienced Booked in Q4 2024 to be higher than Q3 2024”
Year-over-year growth of Nights and Experien… for Q4 FY2024
“higher than Q3 2024”
ADR for Q4 FY2024
“increase modestly on a year-over-year basis”
Revenue for Q4 FY2024
“$2.39 billion to $2.44 billion”
Revenue year-over-year growth for Q4 FY2024
“8% to 10%”
Implied take rate for Q4 FY2024
“slightly lower on a year-over-year basis”
Adjusted EBITDA Margin for FY2024
“approximately 35.5%”
Free Cash Flow Margin for FY2024
“several points above our Adjusted EBITDA Margin”
Adjusted EBITDA Margin for Q4 FY2024
“expected to decline relative to the same time period last year”
Revenue growth rate for Q1 FY2025
“will be negatively impacted by the comparison to Q1 2024, which benefited from both the timing of Easter and inclusion of Leap Day”
Exhibit 99.1 · the passage around this item
… earlier in the release
deferred tax assets of $2.8 billion, and the recognition of non-cash tax expense related to the utilization of some of those assets in the
current year. For the full-year 2024, we anticipate our effective tax rate to be approximately 20%, subject to variables including profitability, stock-based compensation deductions, and changes in tax laws. Net income margin during Q3 2024 was 37%.
Adjusted EBITDA of $2.0 billion was our highest quarter ever, up compared to $1.8 billion in Q3 2023.4 The growth in our Q3 2024 Adjusted EBITDA reflects the continued strength of our business and cost discipline. Adjusted EBITDA Margin
during Q3 2024 was 52%, down compared to 54% in Q3 2023. Take Rate During Q3 2024, the implied take rate (defined as revenue divided by GBV) was flat year-over-year at 18.6%, as the revenue generated by the additional service fee amount for
cross-currency bookings was offset by investments in customer service aimed to enhance the guest and host experience, which impact contra-revenue. Sales and Marketing Earlier this year, we shared our intent to invest in growth in 2024.
Accordingly, in Q3, sales and marketing expense grew faster than revenue on a year-over-year basis, partially due to investments in global markets as well as highly efficient performance marketing. Based on our investments, we saw great results from
4 A reconciliation of non-GAAP financial measures to the most comparable GAAP measur
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.