Yelp Inc. (YELP) Earnings
Yelp Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $0.33. YELP has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +34.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.26 | $0.36 | +38.5% | $361M | +2.3% |
| Feb 12, 2026 | $0.47 | $0.61 | +29.8% | $360M | -0.1% |
| Nov 6, 2025 | $0.47 | $0.61 | +29.8% | $376M | +4.8% |
| Aug 7, 2025 | $0.48 | $0.67 | +39.6% | $370M | +1.2% |
| May 8, 2025 | $0.31 | $0.36 | +16.1% | $359M | -3.7% |
| Feb 13, 2025 | $0.53 | $0.62 | +17.0% | $362M | +3.4% |
| Nov 7, 2024 | $0.42 | $0.56 | +33.3% | $360M | +2.5% |
| Aug 8, 2024 | $0.27 | $0.54 | +100.0% | $357M | +1.1% |
| May 9, 2024 | $0.06 | $0.20 | +233.3% | $333M | -0.2% |
| Feb 15, 2024 | $0.37 | $0.37 | +0.0% | $342M | +0.3% |
| Nov 2, 2023 | $0.35 | $0.79 | +125.7% | $345M | +1.3% |
| Aug 3, 2023 | $0.15 | $0.21 | +40.0% | $337M | +3.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Yelp continued to accelerate its AI transformation in the first quarter, with over 35 new features and updates rolled out, including a new Yelp assistant working across all categories. Local businesses faced a challenging environment. Yelp expanded its partner ecosystem, such as partnerships with DoorDash, Vigaro, and DocDoc. Delivered AI tools to help businesses grow, with Yelp host handling over 1.5 million calls annually. Acquired Hatch in February, with its annual run rate revenue exceeding $34 million in March, up 92% year over year. Secured new licensing agreements and expanded integrations with platforms like Amazon Alexa, Apple Maps, etc.
Guidance
Anticipates second quarter net revenue will be in the range of $363 million to $368 million. For the full year, expects net revenue will be in the range of $1.455 billion to $1.475 billion. Anticipates second quarter adjusted EBITDA will be in the range of $70 million to $75 million. For the full year, expects adjusted EBITDA will be in the range of $310 million to $330 million, excluding accrued acquisition and integration related payments for Hatch employees.
Segment performance
First quarter net revenue increased by 1% year over year to $361 million, with a net income margin of 5% and an adjusted EBITDA margin of 22%. Services ad revenue increased by 1% year over year to $234 million, while RRNO ad revenue decreased by 11% year over year to $99 million. Other revenue grew 75% year over year to a record $29 million.
Risks & headwinds
Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially. Refer to SEC filings and shareholder letter for detailed risk factors affecting results.
Analyst Q&A
Q: Regarding quarterly performance and full-year guide, why Q1 came in better than expected but full-year outlook maintained.
A: Q1 had March softness due to Middle East conflict impact on advertiser budgets, and March softness persists into Q2 with continued uncertainty reflected in overall guidance.
Q: Elaborate on drivers of $250 million other revenue run rate target by 2028.
A: Consists of transaction revenue (e.g., 88% growth from DoorDash partnership), licensing, and Hatch. Opportunities in AI-driven areas like Hatch, Yelp host, and data licensing.
Q: Elaborate on EBITDA margin growth.
A: Driven by accelerated product development velocity, revenue potential from new products and Hatch acquisition, and productivity gains in product, sales, marketing, and GNA functions.
Q: Detail on Yelp Assistant and partnerships.
A: Yelp Assistant accounts for 15% of Request a Quote projects, up from 5% last year. Partnerships with AI players like OpenAI provide Yelp content exposure but are early with opportunities for traffic back.
Q: On OpenAI partnership and other revenue trajectory.
A: Can't comment on OpenAI's specific plans. Other revenue growth from transaction, Hatch, and licensing reflected in guidance, with uncertainty from local business dynamics.