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
SBC expense growth
“will grow largely in-line with headcount growth”
Period
The long term
Measure
Company-defined measure
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 $2.44 billion”
Revenue year-over-year growth for Q4 FY2024
“8% to 10%”
Implied take rate for Q4 FY2024
“slightly lower on a year-over-year basis”
Adjusted EBITDA Margin for FY2024
“approximately 35.5%”
Free Cash Flow Margin for FY2024
“several points above our Adjusted EBITDA Margin”
Adjusted EBITDA Margin for Q4 FY2024
“expected to decline relative to the same time period last year”
Revenue growth rate for Q1 FY2025
“will be negatively impacted by the comparison to Q1 2024, which benefited from both the timing of Easter and inclusion of Leap Day”
Exhibit 99.1 · the passage around this item
… earlier in the release
The increase in SBC expense is expected to exceed headcount growth over the same time period due to the accounting for our restricted
stock unit (“RSU”) awards, which has changed over time. Beyond 2024, after the last of the double-trigger RSUs (which we stopped issuing after our IPO in December 2020) have vested, we anticipate that SBC expense will grow largely in-line with headcount growth.
Quarterly Revenue ($M) Q3 2024 revenue of $3.7 billion increased 10% compared to Q3 2023. 10% Y/Y Change $ $4,000M 4,000M 18% 10%
Y/Y Change 18% 10% $4,000M 29% $3,732 Y/Y Change $3,000M 29% 18% $3,732 $3,000M $3,397 29% $3,397 $3,732 $3,000M $2,884 $2,000M $2,884 $3,397 $2,000M $2,884 $2,000M $ $1,000M 1,000M $1,000M $ $0M 0M $0M Q3 Q3 2022 2022 Q3 Q3 2023 2023 Q3 Q3 2024
2024 Q3 2022 Q3 2023 Q3 2024 Quarterly Net Income ($M) Q3 2024 net income of $1.4 billion declined relative to $4.4 billion in Q3 2023, largely due to a $2.8 billion one-time tax benefit in Q3
2023 from the release of a valuation allowance on certain deferred tax assets. $ $6,000M 6,000M Net income Net % of income revenue 129% % of revenue $4,500M 129% $4,500M $2,769* * Represents the $3,000M $2,769* * Represents the tax benefit related
$3,000M tax benefit related 37% to to the the release release 42% 37% of valuation $1,500M 42% of the valuation $1,500M allowance allowance $1,214 $1,368 $1,214 $1,605 $1,368 $ $0M 0M Q3 Q3 2022 2022 Q3 Q3 2023 2023 Q3 Q3 2024 2024 Quarterly
Adjusted EBITDA ($M)** Our Q3 Adjusted EBITDA of $2.0 billion represented a 52% Adjusted EBITDA Margin. 52% Adjusted EBI
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.