YELP INC YELP
Since Yelp's founding over 20 years ago, our mission has remained the same — to connect consumers with great local businesses. Over that time, we have built one of the best known Internet brands in the United States. Consumers trust us for the more than 300 million ratings and reviews available on our platform of businesses across a broad range of categories. This consumer trust is the foundation of our business, from which we are able to empower other businesses to succeed. Our advertising products help businesses of all sizes reach a large audience, advertise their products and drive conversion of their services, while our subscription services support businesses operationally.
Our performance in 2025 — which included record annual revenue and profitable growth — demonstrates the profitability of our broad-based local advertising platform. For a discussion of our results for the year ended December 31, 2025, see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" included under Part II, Item 7 of this Annual Report.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.46B | $1.41B | $1.34B | $1.19B | $1.03B | $872.9M | $1.01B | $942.8M | $850.8M | $716.1M |
| Cost of revenue | — | — | — | $105.7M | $78.1M | $57.2M | $62.4M | $57.9M | $70.5M | $60.4M |
| Gross profit | — | — | — | $1.09B | $953.7M | $815.7M | $951.8M | $884.9M | $780.3M | $655.7M |
| R&D | $297.8M | $310.5M | $320.6M | $294.5M | $265.2M | $230.1M | $225.5M | $205.8M | $171.2M | $133.1M |
| SG&A | $182.0M | $185.0M | $212.4M | $164.1M | $135.8M | $130.4M | $136.1M | $120.6M | $109.7M | $100.5M |
| Total operating expenses | $1.28B | $1.26B | $1.26B | $1.14B | $1.00B | $911.7M | $978.7M | $916.9M | $671.2M | $718.1M |
| Operating income | $184.5M | $151.0M | $79.0M | $58.4M | $31.5M | -$38.8M | $35.5M | $25.9M | $179.6M | -$2.0M |
| Pre-tax income | $204.0M | $183.0M | $105.1M | $66.8M | $33.7M | -$35.1M | $49.8M | $40.0M | $184.5M | -$326.0K |
| Income tax | $58.4M | $50.1M | $5.9M | $30.4M | $6.0M | $15.7M | $8.9M | $15.3M | $31.5M | $1.4M |
| Net income | $145.6M | $132.8M | $99.2M | $36.3M | $39.7M | -$19.4M | $40.9M | $55.4M | $153.0M | -$1.7M |
| EPS, basic | 2.30 | 1.97 | 1.43 | 0.51 | 0.53 | -0.27 | 0.55 | 0.66 | 1.87 | -0.02 |
| EPS, diluted | 2.24 | 1.88 | 1.35 | 0.50 | 0.50 | -0.27 | 0.52 | 0.62 | 1.76 | -0.02 |
| Shares, diluted (wtd. avg.) | 65.1M | 70.6M | 73.6M | 73.4M | 78.6M | 73.0M | 78.0M | 88.7M | 87.2M | 77.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $216.1M | $217.3M | $314.0M | $307.1M | $480.6M | $596.5M | $192.3M | $354.8M | $566.4M | $289.5M |
| Short-term investments | $103.3M | $100.6M | $127.5M | $94.2M | $0 | $0 | $242.0M | $423.1M | $273.4M | $207.3M |
| Receivables | $153.2M | $155.3M | $146.1M | $131.9M | $107.4M | $88.4M | $106.8M | $87.3M | $76.2M | $68.7M |
| Total current assets | $514.9M | $516.9M | $624.2M | $596.0M | $644.7M | $712.7M | $533.3M | $860.3M | $913.1M | $561.2M |
| Property, plant and equipment | $91.7M | $75.7M | $68.7M | $77.2M | $83.9M | $101.7M | $110.9M | $114.8M | $103.7M | $92.4M |
| Goodwill | $135.8M | $131.0M | $103.9M | $102.3M | $105.1M | $109.3M | $104.6M | $105.6M | $108.0M | $170.7M |
| Other intangibles | $49.0M | $58.8M | $7.6M | $9.0M | $10.7M | $13.5M | $10.1M | $13.4M | $16.9M | $32.6M |
| Total assets | $958.5M | $983.6M | $1.01B | $1.02B | $1.05B | $1.15B | $1.07B | $1.18B | $1.23B | $885.2M |
| Accounts payable | $9.8M | $11.9M | $11.9M | $14.5M | $16.1M | $8.9M | $6.0M | $6.5M | $9.0M | $2.0M |
| Total current liabilities | $172.1M | $155.0M | $175.9M | $182.8M | $164.0M | $143.0M | $134.2M | $64.9M | $86.2M | $60.4M |
| Long-term debt | — | — | — | — | — | — | — | — | — | $17.6M |
| Total liabilities | $247.6M | $239.6M | $265.2M | $305.6M | $299.2M | $300.4M | $315.7M | $100.0M | $116.9M | $78.0M |
| Retained earnings | -$1.29B | -$1.14B | -$1.02B | -$923.8M | -$760.2M | -$533.9M | -$493.1M | -$52.9M | $79.2M | -$70.2M |
| Total equity | $710.9M | $744.0M | $749.5M | $710.3M | $751.3M | $854.5M | $755.0M | $1.08B | $1.11B | $816.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $372.0M | $285.8M | $306.3M | $192.3M | $212.7M | $176.7M | $204.8M | $160.2M | $167.6M | $126.9M |
| Depreciation and amortisation | $50.1M | $40.4M | $42.2M | $44.9M | $55.7M | $50.6M | $49.4M | $42.8M | $41.2M | $35.3M |
| Stock-based compensation | $134.0M | $158.2M | $173.5M | $156.1M | $151.7M | $124.6M | $121.5M | $114.4M | $100.4M | $86.3M |
| Capital expenditure | $48.4M | $37.3M | $26.8M | $32.0M | $28.3M | $32.0M | $37.5M | $45.0M | $30.2M | $23.0M |
| Investing cash flow | -$45.7M | -$77.3M | -$54.7M | -$126.1M | -$27.6M | $248.4M | $124.3M | -$164.4M | $81.1M | -$54.7M |
| Financing cash flow | -$330.0M | -$303.8M | -$246.8M | -$237.5M | -$300.5M | -$21.1M | -$491.5M | -$207.7M | $27.2M | $29.5M |
| Buybacks | $290.9M | $250.9M | $200.0M | $200.0M | $262.9M | $24.4M | $481.0M | $187.4M | $12.6M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001345016-26-000019.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $716.1M | $850.8M | $942.8M | $1.01B | $872.9M | $1.03B | $1.19B | $1.34B | $1.41B | $1.46B |
| Gross profit | $655.7M | $780.3M | $884.9M | $951.8M | $815.7M | $953.7M | $1.09B | — | — | — |
| Net income | -$1.7M | $153.0M | $55.4M | $40.9M | -$19.4M | $39.7M | $36.3M | $99.2M | $132.8M | $145.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Results announced Item 2.02
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 7200
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SCI | SERVICE CORP INTERNATIONAL | $11.38B | 21.9x | 2.9% |
| HRB | H&R BLOCK INC | $6.13B | 8.8x | 4.9% |
| UNF | UNIFIRST CORP | $5.09B | 35.2x | 0.2% |
| CSV | CARRIAGE SERVICES INC | $562.4M | 10.9x | 3.3% |
| EVI | EVI INDUSTRIES, INC. | $257.4M | 40.8x | 10.3% |
| WW | WW INTERNATIONAL, INC. | $134.7M | — | — |
| RGS | REGIS CORP | $73.5M | 12.2x | 6.8% |
| DLPN | Dolphin Entertainment, Inc. | $13.2M | — | 9.7% |