Airbnb — May 1, 2025 release

By offering guests a wide range of listings around the world and providing hosts economic opportunity, we believe our model can adapt to periods of consumer uncertainty. • Q2 Revenue. In Q2 2025, we expect to generate revenue of $2.99 billion to $3.05 billion, representing year-over-year growth of 9% to 11%. Revenue growth in Q2 2025 includes 1, 2 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided at the end of this letter. 4 a benefit of approximately two percentage points related to the timing of Easter in 2024, which creates a favorable year-over-year comparison during the quarter. As a result, we anticipate our implied take rate in Q2 2025 to be higher than in Q2 2024. • Q2 Nights Booked and ADR. In Q2 2025, we expect year-over-year growth of Nights and Experiences Booked to moderate relative to Q1 2025. During April, we saw strong demand for Easter travel from Latin America–which remains our fastest growing region. Whereas in the U.S., we’ve seen relatively softer results, which we believe has been largely driven by broader economic uncertainties. In Q2 2025, we expect ADR to be approximately flat year-over-year. • Q2 Adjusted EBITDA. In Q2 2025, we expect Adjusted EBITDA to increase on a year-over- year basis, but for Adjusted EBITDA Margin to be flat to down slightly compared to Q2 2024. Marketing expense is expected to grow faster than revenue on a year-over-year basis in Q2 2