Yelp Inc. (YELP) financial statements: income statement, balance sheet and cash flow

Yelp Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Yelp Inc. reported revenue of $1.5B (+3.7% year on year) and net income of $145.6M (+9.6% year on year).

Income statement

Yelp Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net revenue	$1.5B	$1.4B	$1.3B	$1.2B
Cost of revenue (exclusive of depreciation and amortization and stock-based compensation)	$142.6M	$123.7M	$114.2M	—
Sales and marketing	$592.1M	$586.0M	$556.6M	$514.9M
Product development	$313.7M	$326.0M	$332.6M	$305.6M
General and administrative	$182.0M	$185.0M	$212.4M	$164.1M
Depreciation and amortization	$50.1M	$40.4M	$42.2M	$44.9M
Total costs and expenses	$1.3B	$1.3B	$1.3B	$1.1B
Income from operations	$184.5M	$151.0M	$79.0M	$58.4M
Other income, net	$19.5M	$31.9M	$26.0M	$8.4M
Income before income taxes	$204.0M	$183.0M	$105.1M	$66.8M
Provision for income taxes	$58.4M	$50.1M	$5.9M	$30.4M
Net income attributable to common stockholders	$145.6M	$132.8M	$99.2M	$36.3M
Basic (in dollars per share)	$2.30	$1.97	$1.43	$0.51
Diluted (in dollars per share)	$2.24	$1.88	$1.35	$0.50
Basic (in shares)	63.3M	67.4M	69.2M	70.9M
Diluted (in shares)	65.1M	70.6M	73.6M	73.4M

Yelp Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net revenue	$375.5M	$361.5M	$376.0M	$370.4M
Cost of revenue (exclusive of depreciation and amortization shown separately below)	$41.8M	$38.4M	$36.3M	$35.4M
Sales and marketing	$153.6M	$153.0M	$150.7M	$144.6M
Product development	$70.5M	$77.2M	$78.1M	$78.4M
General and administrative	$47.9M	$49.4M	$45.5M	$46.3M
Depreciation and amortization	$18.1M	$16.2M	$12.5M	$12.4M
Total costs and expenses	$331.8M	$334.2M	$323.2M	$317.1M
Income from operations	$43.7M	$27.3M	$52.9M	$53.3M
Other income, net	$733.0K	$2.6M	$5.3M	$5.7M
Income before income taxes	$44.5M	$29.9M	$58.2M	$59.0M
Provision for income taxes	$12.8M	$12.1M	$18.9M	$14.9M
Net income attributable to common stockholders	$31.7M	$17.7M	$39.3M	$44.1M
Basic (in USD per share)	$0.57	$0.30	$0.62	$0.69
Diluted (in USD per share)	$0.57	$0.30	$0.61	$0.67
Basic (in shares)	55.3M	58.8M	63.0M	64.1M
Diluted (in shares)	55.7M	59.4M	64.2M	65.7M

Balance sheet

Yelp Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$216.1M	$217.3M	$313.9M	$306.4M
Short-term marketable securities	$103.3M	$100.6M	$127.5M	$94.2M
Accounts receivable (net of allowance for credit losses of $13,782 and $15,301 at December 31, 2025 and 2024, respectively)	$153.2M	$155.3M	$146.1M	$131.9M
Prepaid expenses and other current assets	$42.4M	$43.6M	$36.7M	$63.5M
Total current assets	$514.9M	$516.9M	$624.2M	$596.0M
Property, equipment and software, net	$91.7M	$75.7M	$68.7M	$77.2M
Operating lease right-of-use assets	$16.0M	$24.1M	$48.6M	$97.4M
Goodwill	$135.8M	$131.0M	$103.9M	$102.3M
Intangibles, net	$49.0M	$58.8M	$7.6M	$9.0M
Other non-current assets	$150.9M	$177.1M	$161.7M	$134.0M
Total assets	$958.5M	$983.6M	$1.0B	$1.0B
Accounts payable and accrued liabilities	$158.8M	$131.3M	$132.8M	$137.9M
Operating lease liabilities — current	$7.4M	$20.7M	$39.2M	$39.7M
Deferred revenue	$5.8M	$3.0M	$3.8M	$5.2M
Total current liabilities	$172.1M	$155.0M	$175.9M	$182.8M
Operating lease liabilities — long-term	$17.5M	$22.5M	$48.1M	$86.7M
Other long-term liabilities	$58.1M	$62.2M	$41.3M	$36.1M
Total liabilities	$247.6M	$239.6M	$265.2M	$305.6M
Preferred stock, undesignated, 10,000 shares authorized, none issued	0	—	—	—
Common stock, $0.000001 par value — 200,000 shares authorized, 59,987 and 65,792 shares issued; 59,954 and 65,691 shares outstanding at December 31, 2025 and 2024, respectively	0	0	0	0
Additional paid-in capital	$2.0B	$1.9B	$1.8B	$1.6B
Treasury stock	($999.0K)	($3.9M)	($282.0K)	—
Accumulated other comprehensive loss	($7.7M)	($15.4M)	($12.2M)	($15.5M)
Accumulated deficit	($1.3B)	($1.1B)	($1.0B)	($923.8M)
Total stockholders’ equity	$710.9M	$744.0M	$749.5M	$710.3M
Total liabilities and stockholders’ equity	$958.5M	$983.6M	$1.0B	$1.0B

Yelp Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$94.1M	$110.4M	$231.1M	$197.7M
Short-term marketable securities	$0	$0	$102.5M	$103.4M
Accounts receivable (net of allowance for credit losses of $11,832 and $13,782 at June 30, 2026 and December 31, 2025, respectively)	$157.7M	$152.2M	$153.5M	$156.0M
Prepaid expenses and other current assets	$41.6M	$39.4M	$63.3M	$52.3M
Total current assets	$293.5M	$302.0M	$550.3M	$509.4M
Property, equipment and software, net	$99.2M	$95.4M	$89.8M	$84.2M
Operating lease right-of-use assets	$16.0M	$17.4M	$17.6M	$19.9M
Goodwill	$354.7M	$355.6M	$135.7M	$136.5M
Intangibles, net	$92.1M	$98.8M	$51.5M	$53.9M
Other non-current assets	$135.0M	$144.1M	$145.1M	$176.2M
Total assets	$990.6M	$1.0B	$989.9M	$980.2M
Accounts payable and accrued liabilities	$151.9M	$155.0M	$168.6M	$142.0M
Operating lease liabilities — current	$7.4M	$7.1M	$8.4M	$9.8M
Deferred revenue	$8.6M	$11.6M	$7.1M	$3.9M
Total current liabilities	$167.8M	$173.7M	$184.1M	$155.7M
Revolving credit facility	$100.0M	$130.0M	—	—
Operating lease liabilities — long-term	$16.0M	$17.9M	$19.0M	$20.7M
Other long-term liabilities	$62.2M	$60.6M	$53.7M	$57.3M
Total liabilities	$346.0M	$382.2M	$256.7M	$233.8M
Preferred stock, undesignated, 10,000 shares authorized, none issued	0	0	—	—
Common stock, $0.000001 par value — 200,000 shares authorized, 55,098 and 59,987 shares issued at June 30, 2026 and December 31, 2025, respectively; 54,980 and 59,954 shares outstanding at June 30, 2026 and December 31, 2025, respectively	0	0	0	0
Additional paid-in capital	$2.1B	$2.0B	$2.0B	$2.0B
Treasury stock	($2.9M)	($6.3M)	($2.6M)	($1.0M)
Accumulated other comprehensive loss	($9.8M)	($9.6M)	($7.8M)	($7.1M)
Accumulated deficit	($1.4B)	($1.4B)	($1.2B)	($1.2B)
Total stockholders’ equity	$644.5M	$631.1M	$733.2M	$746.4M
Total liabilities and stockholders’ equity	$990.6M	$1.0B	$989.9M	$980.2M

Cash flow statement

Yelp Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$145.6M	$132.8M	$99.2M	$36.3M
Depreciation and amortization	$50.1M	$40.4M	$42.2M	$44.9M
Provision for credit losses	$43.3M	$45.6M	$40.7M	$25.0M
Stock-based compensation	$134.0M	$158.2M	$173.5M	$156.1M
Amortization of right-of-use assets	$10.4M	$15.1M	$28.1M	—
Deferred income taxes	$25.1M	($24.9M)	($22.1M)	($56.6M)
Amortization of deferred contract cost	$27.9M	$24.9M	$24.0M	$18.8M
Asset impairment	$0	$5.9M	$23.6M	$10.5M
Wrote off of capitalized website and internal-use software costs	$3.3M	—	—	—
Other adjustments, net	($491.0K)	($2.4M)	($410.0K)	$1.0M
Accounts receivable	($41.9M)	($51.0M)	($54.9M)	($49.6M)
Prepaid expenses and other assets	($27.1M)	($24.3M)	($5.1M)	($36.0M)
Operating lease liabilities	($20.9M)	($39.2M)	($39.7M)	($40.1M)
Accounts payable, accrued liabilities and other liabilities	$22.7M	$4.8M	($2.5M)	$49.1M
Net cash provided by operating activities	$372.0M	$285.8M	$306.3M	$192.3M
Purchases of marketable securities — available-for-sale	($80.2M)	($94.3M)	($148.4M)	($127.1M)
Sales and maturities of marketable securities — available-for-sale	$78.5M	$123.1M	$117.9M	$32.8M
Purchases of other investments	($700.0K)	($2.5M)	—	$0
Maturities of other investments	$5.0M	$0	$2.5M	—
Acquisition, net of cash received	$0	($66.2M)	—	—
Purchases of property, equipment and software	($48.4M)	($37.3M)	($26.8M)	($32.0M)
Other investing activities	$114.0K	($10.0K)	$195.0K	$94.0K
Net cash used in investing activities	($45.7M)	($77.3M)	($54.7M)	($126.1M)
Proceeds from issuance of common stock for employee stock-based plans	19.7M	20.8M	39.5M	23.5M
Taxes paid related to the net share settlement of equity awards	($56.9M)	($73.4M)	($85.2M)	($61.0M)
Repurchases of common stock	($290.9M)	($251.2M)	($200.0M)	($200.0M)
Excise tax paid on net stock repurchases	($1.2M)	—	—	—
Payment of issuance costs for credit facility	($656.0K)	$0	($1.1M)	—
Net cash used in financing activities	($330.0M)	($303.8M)	($246.8M)	($237.5M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$2.3M	($1.1M)	$2.0M	($2.1M)
Change in cash, cash equivalents and restricted cash	($1.4M)	($96.3M)	$6.9M	($173.5M)
Cash, cash equivalents and restricted cash — Beginning of period	$217.7M	$314.0M	$307.1M	$480.6M
Cash, cash equivalents and restricted cash — End of period	$216.3M	$217.7M	$314.0M	$307.1M
Purchases of property, equipment and software recorded in accounts payable and accrued liabilities	$2.2M	$1.6M	$914.0K	$956.0K
Excise tax accrued on net stock repurchases	$1.9M	$1.2M	—	—
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$1.8M	—	$0	$50.0K
Repurchases of common stock recorded in accounts payable and accrued liabilities	$999.0K	$1.2M	$1.9M	$2.4M
Acquisition holdback consideration not yet paid	$0	$13.5M	—	—

Yelp Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$49.4M	$17.7M	$107.8M	$68.5M
Depreciation and amortization	$34.4M	$16.2M	$37.2M	$24.7M
Provision for credit losses	$18.0M	$9.4M	$34.2M	$22.6M
Stock-based compensation	$56.3M	$30.5M	$105.1M	$72.2M
Amortization of right-of-use assets	$3.0M	$1.7M	$8.8M	$6.7M
Deferred income taxes	$20.4M	$9.7M	$29.8M	($3.0M)
Amortization of deferred contract cost	$11.0M	$5.6M	$18.0M	$12.0M
Other adjustments, net	$2.5M	$1.3M	$2.5M	$1.5M
Accounts receivable	($22.1M)	($8.0M)	($33.0M)	($23.9M)
Prepaid expenses and other assets	($24.1M)	($14.7M)	($32.7M)	($14.5M)
Operating lease liabilities	($4.4M)	($2.8M)	($18.3M)	($15.4M)
Accounts payable, accrued liabilities and other liabilities	($10.8M)	($8.8M)	$28.1M	$4.6M
Net cash provided by operating activities	$133.6M	$57.8M	$287.5M	$156.0M
Purchases of marketable securities	($6.0M)	($6.0M)	—	—
Sales and maturities of marketable securities	$109.3M	$109.3M	—	—
Purchases of other investments	($650.0K)	—	($700.0K)	($700.0K)
Maturities of other investments	$5.0M	$5.0M	—	—
Acquisition, net of cash received	($263.6M)	($263.6M)	—	—
Purchases of property, equipment and software	($27.4M)	($12.7M)	($36.1M)	($23.6M)
Other investing activities	$75.0K	$61.0K	$64.0K	$67.0K
Net cash used in investing activities	($183.3M)	($167.9M)	($38.0M)	($26.6M)
Proceeds from issuance of common stock for employee stock-based plans	19.5M	8.7M	12.3M	12.0M
Taxes paid related to the net share settlement of equity awards	($17.6M)	($9.8M)	($46.6M)	($35.2M)
Repurchases of common stock	($174.0M)	($124.0M)	($203.4M)	($128.4M)
Proceeds from revolving credit facility	$165.0M	$165.0M	—	—
Repayments on revolving credit facility	($65.0M)	($35.0M)	—	—
Other financing activities	($119.0K)	($18.0K)	—	—
Net cash used in financing activities	($72.2M)	$4.9M	($237.8M)	($151.6M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	($149.0K)	($267.0K)	$2.0M	$2.7M
Change in cash, cash equivalents and restricted cash	($122.0M)	($105.4M)	$13.8M	($19.5M)
Cash, cash equivalents and restricted cash — Beginning of period	$216.3M	$216.3M	$217.7M	$217.7M
Cash, cash equivalents and restricted cash — End of period	$94.3M	$110.9M	$231.5M	$198.2M
Cash paid for income taxes, net	$6.6M	$3.2M	$28.2M	$25.9M
Cash paid for interest	$1.7M	—	—	—
Acquisition holdback consideration not yet paid	$4.4M	$4.4M	$1.2M	$1.2M
Purchases of property, equipment and software recorded in accounts payable and accrued liabilities	$2.4M	$3.2M	$3.5M	$2.1M
Excise tax accrued on net stock repurchases	$1.3M	$1.0M	$1.2M	$659.0K
Repurchases of common stock recorded in accounts payable and accrued liabilities	$1.1M	$1.0M	$1.4M	$1.2M
Release of acquisition holdback consideration not yet paid	$0	—	—	—

Yelp Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.