Airbnb — Aug 6, 2026 release

We initially migrated most property management software hosts from a split fee structure (where hosts paid a 3% fee and guests paid a separate service fee) to a single fee of 15.5%. In July, we announced plans to migrate most of the remaining hosts to a single 15.5% service fee, with migration expected to be completed this year. Hosts are able to adjust their prices to maintain the same net earnings and guests will continue to see the full price upfront. 4 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided at the end of this letter. 13 Quarterly Revenue ($M) 17% $4,000M Y/Y Change 13% 11% $3,608 $3,000M $3,096 $2,748 $2,000M $1,000M $0M Q2 2024 Q2 2025 Q2 2026 Quarterly Net Income ($M) $1,000M Net income 23% % of revenue 21% $750M 20% $816 $500M $642 $555 $250M $0M Q2 2024 Q2 2025 Q2 2026 Quarterly Adjusted EBITDA ($M)* $1,500M Adjusted EBITDA 35% % of revenue 34% $1,125M 33% $1,261 $1,043 $750M $894 $375M $0M Q2 2024 Q2 2025 Q2 2026 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided at the end of this letter. * 14 Quarterly Net Cash Provided by Operating Activities ($M) $1,500M 35% Net cash provided by operating activities 38% % of revenue 31% $1,125M $1,270 $1,051 $975 $750M $375M $0M Q2 2024 Q2 2025 Q2 2026 Quarterly Free Cash Flow ($M)* $1,500M Free Cash Flow % 35% of revenue 38% 31% $1,125M $1,253 $1,043 $750M $962 $375M $0M Q2 2024 Q2 2025 Q2 2026 TTM Free Cash Flow ($M)* 37% $5,000M 41% 37% TTM