Yelp Inc (YELP) Income Statement
YELP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsYELP revenue and net income
Where YELP's revenue goes
2025Each bar shows an amount and its share of revenue. YELP kept 9.9% of revenue as net income.
YELP profit margins
YELP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.7% | +7.1% | +10.9% | +10.3% |
| Gross profit | +2.6% | +6.7% | +10.1% | +10.2% |
| Operating income | +22.5% | +46.9% | — | — |
| Net income | +9.6% | +58.8% | — | — |
| EPS (diluted) | −9.0% | +42.9% | +49.2% | +24.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
YELP quarterly EPS vs estimates
Yelp beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.43).
YELP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.46B | $1.41B | $1.34B | $1.19B | $1.03B | $872.9M | $1.01B | $942.8M | $846.8M | $713.1M |
| Cost of revenue | $142.6M | $123.7M | $114.2M | $105.7M | $78.1M | $57.2M | $62.4M | $57.9M | $70.5M | $60.4M |
| Gross profit | $1.32B | $1.29B | $1.22B | $1.09B | $953.7M | $815.7M | $951.8M | $884.9M | $776.3M | $652.7M |
| Research & development | $313.7M | $326.0M | $332.6M | $305.6M | $276.5M | $232.6M | $230.4M | $212.3M | $175.8M | $138.5M |
| Sales, general & admin | $774.1M | $770.9M | $769.0M | $679.0M | $590.0M | $567.5M | $636.5M | $603.9M | $544.3M | $480.3M |
| Total operating expenses | $1.14B | $1.14B | $1.14B | $1.03B | $922.2M | $854.5M | $916.3M | $859.0M | $761.3M | $654.2M |
| Operating income | $185.1M | $151.0M | $79.0M | $58.4M | $31.5M | −$38.8M | $35.5M | $25.9M | $179.5M | −$5.0M |
| Interest income | — | — | — | — | — | $2.3M | $13.4M | $13.8M | $4.2M | $1.7M |
| Interest expense | — | — | — | $8.4M | $116,000 | $4.1M | $14.3M | $13.8M | $4.2M | $1.7M |
| Income before taxes | $204.0M | $183.0M | $105.1M | $66.8M | $33.7M | −$35.1M | $49.8M | $40.0M | $184.3M | −$3.3M |
| Income taxes | $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 | $152.9M | −$4.7M |
| EBITDA | $264.5M | $238.5M | $175.3M | $163.3M | $126.6M | $15.7M | $84.9M | $68.7M | $225.7M | $32.1M |
| EPS (diluted) | $3.33 | $3.66 | $1.96 | $1.14 | $1.27 | $0.45 | $1.30 | $1.28 | $0.92 | $0.53 |
| Gross margin | 90.3% | 91.2% | 91.5% | 91.1% | 92.4% | 93.4% | 93.8% | 93.9% | 91.7% | 91.5% |
| Operating margin | 12.6% | 10.7% | 5.9% | 4.9% | 3.1% | −4.4% | 3.5% | 2.7% | 21.2% | −0.7% |
| Net margin | 9.9% | 9.4% | 7.4% | 3.0% | 3.8% | −2.2% | 4.0% | 5.9% | 18.1% | −0.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $375.5M | $361.5M | $360.0M | $376.0M | $370.4M | $358.5M | $362.0M | $360.3M | $357.0M | $332.8M | $342.4M | $345.1M |
| Cost of revenue | $41.8M | $54.6M | $36.0M | $36.3M | $35.4M | $34.8M | $33.3M | $32.4M | $30.7M | $27.4M | $29.6M | $28.4M |
| Gross profit | $333.7M | $306.8M | $324.0M | $339.8M | $334.9M | $323.7M | $328.7M | $328.0M | $326.3M | $305.4M | $312.8M | $316.8M |
| Research & development | $70.5M | $77.2M | $73.3M | $78.1M | $78.4M | $83.9M | $74.9M | $77.7M | $82.1M | $91.2M | $78.3M | $81.0M |
| Sales, general & admin | $201.4M | $202.4M | $188.9M | $196.4M | $190.9M | $198.0M | $188.8M | $194.2M | $194.9M | $193.0M | $199.1M | $183.4M |
| Total operating expenses | $290.0M | $274.2M | $275.1M | $286.9M | $281.7M | $294.2M | $275.3M | $281.3M | $286.6M | $294.2M | $287.7M | $274.9M |
| Operating income | $43.7M | $32.6M | $48.9M | $52.9M | $53.3M | $29.5M | $53.4M | $46.7M | $39.7M | $11.2M | $25.0M | $41.9M |
| Interest income | $939,000 | $639,000 | — | $3.5M | $3.5M | $3.5M | — | $5.3M | $5.4M | $5.7M | — | $5.2M |
| Interest expense | $1.6M | — | — | — | $121,000 | — | — | — | — | — | $5.2M | — |
| Income before taxes | $44.5M | $29.9M | $51.6M | $58.2M | $59.0M | $35.2M | $60.1M | $53.9M | $50.1M | $18.9M | $33.8M | $48.0M |
| Income taxes | $12.8M | $12.1M | $13.8M | $18.9M | $14.9M | $10.8M | $17.8M | $15.4M | $12.0M | $4.8M | $6.4M | −$10.2M |
| Net income | $31.7M | $17.7M | $37.8M | $39.3M | $44.1M | $24.4M | $42.2M | $38.4M | $38.0M | $14.2M | $27.4M | $58.2M |
| EBITDA | $63.9M | $47.8M | $64.4M | $72.9M | $74.6M | $51.0M | $75.4M | $66.9M | $63.5M | $32.7M | $49.3M | $65.6M |
| EPS (diluted) | $0.62 | $0.30 | $0.89 | $0.96 | $0.67 | $0.81 | $0.99 | $1.02 | $0.99 | $0.66 | $0.37 | $0.79 |
| Gross margin | 88.9% | 84.9% | 90.0% | 90.3% | 90.4% | 90.3% | 90.8% | 91.0% | 91.4% | 91.8% | 91.3% | 91.8% |
| Operating margin | 11.6% | 9.0% | 13.6% | 14.1% | 14.4% | 8.2% | 14.8% | 12.9% | 11.1% | 3.4% | 7.3% | 12.1% |
| Net margin | 8.4% | 4.9% | 10.5% | 10.5% | 11.9% | 6.8% | 11.7% | 10.7% | 10.7% | 4.3% | 8.0% | 16.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in YELP's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
YELP financial results
In fiscal year 2025 (ended December 31, 2025), Yelp reported revenue of $1.5 billion, up 3.7% from the year before. It had net income of $145.6 million (up 9.6%), a net profit margin of 9.9%. Diluted earnings per share came to $3.33. Over five years revenue grew at an average rate of 10.9% a year.
See the YELP stock overview for the latest quote and news, or the YELP chart for price history and technical indicators.
YELP income statement FAQ
What is Yelp's annual revenue?
Yelp reported total revenue of $1.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 3.7% from $1.4 billion the previous year.
Is Yelp profitable?
Yes. Yelp reported net income of $145.6 million in fiscal 2025, a net profit margin of 9.9%; its operating margin was 12.6%.
What is Yelp's gross margin?
Yelp's gross margin was 90.3% in fiscal 2025: for every $100 of revenue, Yelp kept $90 after the direct cost of its products and services.
How much does Yelp spend on research and development?
Yelp spent $313.7 million on research and development in fiscal 2025, 21.4% of revenue.
How fast is Yelp growing?
Revenue grew 10.9% a year on average over the last five fiscal years, from $872.9 million to $1.5 billion.
What are Yelp's earnings per share?
Yelp earned $3.33 per diluted share in fiscal 2025, compared with $3.66 a year earlier.
When will Yelp report its next earnings?
Yelp is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Yelp's fiscal year end?
Yelp's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.