Airbnb — May 1, 2025 release

For full-year 2025, consistent with our prior guidance, we expect to deliver a full-year Adjusted EBITDA Margin of at least 34.5%, maintaining our strong track record of profitability while making meaningful investments behind future growth levers. As shared in our prior shareholder letter, we plan to invest $200 million to $250 million towards launching and scaling new businesses in 2025, which we will introduce on May 13. We believe that the impact of these investments on our quarterly Adjusted EBITDA Margin will be the most pronounced during the second half of the year due to the timing of when we introduce these new offerings. We anticipate a more significant contribution to revenue growth as these businesses scale over the coming years. 5 A CLOSER LOOK Minor changes, major impact Even modest improvements can make a big difference to our users. Through thoughtful design and iteration, we developed algorithms to make filter recommendations to guests in the booking flow. We added contextualized tips to help travelers get even better value and book before time runs out. Then we simplified the checkout process so guests wouldn’t miss any steps and can book faster. Recommended filters Smarter tips More intuitive checkout We suggest filters based on what’s Guests will now know if the listing’s We used eye tracking and other available, plus the guest’s search and booking window is closing soon or UX research techniques to simplify booking history, making it easy for if they can access a discoun