NASDAQ$ABNB
Airbnb Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Airbnb's Q4 2020 results demonstrated resilience with revenue down only 22% year-over-year and significant improvements in Adjusted EBITDA despite the impact of COVID-19.
Airbnb's Q4 2020 revenue reached $859 million, a 22% decrease year-over-year, while net loss was $3.9 billion, impacted by IPO-related charges. Adjusted EBITDA improved significantly to $(21) million, showcasing the company's resilience and cost management.
- Q4 2020 revenue was down only 22% year-over-year, demonstrating Airbnb’s resilience.
- Q4 2020 net loss was impacted by charges related to our IPO, including $2.8B of stock-based compensation expense.
- Q4 2020 Adjusted EBITDA was materially improved from a year ago, despite the impact of COVID-19 on our revenue.
- Due to our strong financial discipline in 2020, all operating expenses (excluding stock-based compensation and stock- settlement obligations) were down from a year ago.
Headline financials
Revenue & EPS history
Airbnb · Revenue · Quarterly
$859M
Forward guidance
In the near term, anticipate that year-over-year comparisons for Nights and Experiences Booked, as well as for Gross Booking Value, will be volatile and unreliable measures of the steady-state growth of our business.
Tailwinds
- Levels in Q1 2021 will be higher than those of Q1 2020, but lower than Q1 2019.
- The year-over-year decline in Q1 2021 is expected to be less than that of Q4 2020.
- Continue to see gradual improvements in guests’ willingness to book stays.
- Will be focused on making continued progress in expanding our Adjusted EBITDA margin as we scale.
- Plan to continue to improve our variable costs, materially increase our marketing efficiency and tightly manage our fixed expenses.
Headwinds
- Year-over-year comparisons for Nights and Experiences Booked, as well as for Gross Booking Value, will be volatile and unreliable measures of the steady-state growth of our business.
- It is too early to predict overall recovery trends for the travel industry and their impact on our business.
- Continue to have limited visibility for growth trends in 2021 given the difficulty in determining the pace of vaccine roll-outs and the related impact on willingness to travel.
- Not providing an outlook for the rest of 2021 at this time.
- Anticipate our Adjusted EBITDA margin to also be at its lowest during Q1.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
+0.5%
Avg return
Earnings day
-1.5%
Avg return
5 days after
-2.1%
Avg return
30 days after
50%
11 / 22 earnings
Positive
+17.7%
Q4 2022
Best reaction
-11.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -5.7% | -4.9% | |
| Q4 2025 | +4.6% | +7.2% | +8.9% | |
| Q3 2025 | -3.9% | +1.0% | +3.1% | |
| Q2 2025 | -8.0% | -6.8% | -5.1% | |
| Q1 2025 | +1.0% | -0.7% | +4.0% | |
| Q4 2024 | +14.4% | +12.0% | -12.9% | |
| Q3 2024 | -4.5% | -5.5% | -2.8% | |
| Q2 2024 | -9.8% | -8.2% | -7.3% | |
| Q1 2024 | -8.0% | -6.7% | -8.2% | |
| Q4 2023 | -3.6% | -0.8% | +8.2% | |
| Q3 2023 | -2.4% | -0.1% | +14.1% | |
| Q2 2023 | -3.0% | -3.5% | -8.2% | |
| Q1 2023 | -9.9% | -16.2% | -8.1% | |
| Q4 2022 | +17.7% | +13.0% | +3.1% | |
| Q3 2022 | -11.7% | -10.1% | -5.3% | |
| Q2 2022 | +3.4% | +5.3% | +2.0% | |
| Q1 2022 | +2.2% | -11.1% | -20.6% | |
| Q4 2021 | +10.0% | +3.1% | -7.1% | |
| Q3 2021 | +16.6% | +12.6% | -3.5% | |
| Q2 2021 | +3.1% | -2.9% | +11.5% | |
| Q1 2021 | +0.7% | -3.7% | +5.8% | |
| Q4 2020 | +3.1% | -5.1% | -12.9% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — |
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