Airbnb (ABNB) Q3 FY25 earnings call

Earnings call· Sep 2025 (Q3 FY25)· Consumer Discretionary· Nov 6, 2025

Source: earnings call transcript

Airbnb delivered a robust Q3 FY25, driven by strong growth in GBV and nights booked, particularly in the U.S. The company achieved record adjusted EBITDA and is focused on strategic initiatives like global expansion, new offerings such as Hotels on Airbnb and Experiences, and extensive AI integration to enhance user experience and drive future growth. Management anticipates continued momentum into Q4, balancing investment in these growth areas with strong margin maintenance.

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ABNB operating KPIs by quarter

ABNB operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2025 Q1 FY25	This call Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Gross bookings	<$25B In Q1, guests on Airbnb spent nearly $25 billion. Source: earnings call transcript	$22.9B Gross booking value grew 14% year-over-year to $22.9 billion, driven by strong growth in both bookings and price. Source: earnings call transcript	$20.4B Gross booking value grew 16% year-over-year to $20.4 billion. Source: earnings call transcript	$29B Gross booking value grew 19% year-over-year to $29 billion, representing consistent sequential acceleration for the last 4 quarters, driven by both strong growth in nights and ADR. Source: earnings call transcript	$27.2B Gross booking value grew 16% year-over-year to $27.2 billion, and Nights and Seats Booked grew 10% year-over-year, accelerating from Q1. Source: earnings call transcript	-6.2%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.