Airbnb, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Airbnb, Inc. has submitted its 2023 annual report (10-K), detailing financial performance and operational information for the fiscal year ending December 31, 2023.</b>

AI Summary

Airbnb, Inc. (ABNB) filed a Annual Report (10-K) with the SEC on February 16, 2024. Airbnb, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 888 Brannan St., San Francisco, CA 94103. The filing includes data on various share classes, including Common Class A, B, C, and H. The report details financial information for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking Airbnb, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Airbnb's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors assessing the company's performance and future outlook. The detailed financial data, including revenue and equity information across multiple years, allows for trend analysis and comparison, aiding investors in making informed decisions about the stock.

Risk Assessment

Risk Level: medium — Airbnb, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for public companies. While it contains significant financial data, it does not indicate any immediate, severe risks beyond those typically associated with a publicly traded company in the travel and hospitality sector.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Airbnb's performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-02-16 — Filing Date (Date of submission)
• 120 — Public Document Count (Number of documents in the filing)
• 263051428 — IRS Number (Company's IRS identification number)

Key Players & Entities

• Airbnb, Inc. (company) — Filer name
• 888 Brannan St. (location) — Business address
• San Francisco (location) — Business address city
• CA (location) — Business address state
• 94103 (location) — Business address zip
• 2023-12-31 (date) — Fiscal year end
• 2024-02-16 (date) — Filing date
• 001-39778 (other) — SEC file number

FAQ

Industry Context

Airbnb operates in the online travel and hospitality industry, providing a platform for lodging and experiences.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Review Airbnb's detailed financial statements for FY 2023.
2. Analyze the company's operational segments and performance metrics.
3. Assess the risk factors outlined in the 10-K for potential investment implications.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-02-16: Filing Date — Date Airbnb, Inc. submitted its 10-K report to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings for prior years.

Key Financial Figures

• $0.0001 — tered Class A common stock, par value $0.0001 per share ABNB The Nasdaq Stock Market
• $3 million — est property damage protection of up to $3 million per stay, liability coverage to Hosts o
• $1 million — y, liability coverage to Hosts of up to $1 million per occurrence in the event of third-pa

Filing Documents

• abnb-20231231.htm (10-K) — 2424KB
• exh48-amendedandrestatedwa.htm (EX-4.8) — 121KB
• exh1011sfo_888brannanxgrou.htm (EX-10.11) — 43KB
• exh1029retentionagreement.htm (EX-10.29) — 102KB
• exh211-listofsubsidiaries_.htm (EX-21.1) — 6KB
• exh231-pwcconsent_202310k.htm (EX-23.1) — 3KB
• exh311-certification_2023.htm (EX-31.1) — 9KB
• exh312-certification_2023.htm (EX-31.2) — 9KB
• exh321-certification_2023.htm (EX-32.1) — 7KB
• exh97abnb_clawbackpolicy.htm (EX-97) — 33KB
• abnb-20231231_g1.jpg (GRAPHIC) — 54KB
• abnb-20231231_g2.jpg (GRAPHIC) — 403KB
• image_0.jpg (GRAPHIC) — 399KB
• image_1.jpg (GRAPHIC) — 12018KB
• 0001559720-24-000006.txt (&nbsp;) — 30852KB
• abnb-20231231.xsd (EX-101.SCH) — 76KB
• abnb-20231231_cal.xml (EX-101.CAL) — 132KB
• abnb-20231231_def.xml (EX-101.DEF) — 391KB
• abnb-20231231_lab.xml (EX-101.LAB) — 1093KB
• abnb-20231231_pre.xml (EX-101.PRE) — 716KB
• abnb-20231231_htm.xml (XML) — 1901KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 49

C

Item 1 C . C ybersecurity 49 Item 2.

Properties

Properties 49 Item 3.

Legal Proceedings

Legal Proceedings 49 Item 4. Mine Safety Disclosures 50 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 51 Item 6. [Reserved] 52 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 52 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 63 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 64 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 102 Item 9A.

Controls and Procedures

Controls and Procedures 102 Item 9B. Other Information 102 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 103 PART III Item 10. Directors, Executive Officers and Corporate Governance 104 Item 11.

Executive Compensation

Executive Compensation 104 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 104 Item 13. Certain Relationships and Related Transactions, and Director Independence 104 Item 14. Principal Accountant Fees and Services 104 PART IV Item 15. Exhibit and Financial Statement Schedules 105 Item 16. Form 10-K Summary 107

Signatures

Signatures 108 Table of Contents Special Note Regarding Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "shall," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "goal," "objective," "seeks," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: the effects of macroeconomic conditions, including inflation, slower growth or recession, higher interest rates, high unemployment, and foreign currency fluctuations, on the demand for travel or similar experiences; the effects of fluctuations in demand for Host homes, including lower demand in certain areas or as a result of oversupply in others; the effects of supply constraints on availability of Host homes; our ability to attract and retain Hosts and guests; our ability to effectively manage our exposure to fluctuations in foreign currency exchange rates; the impact of the ongoing armed conflicts around the world on our business; our expectations regarding our financial performance, including our revenue, costs, Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortizat

Business

Item 1. Business Overview We are a community based on connection and belonging—a community that was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to over 5 million Hosts who have welcomed over 1.5 billion guest arrivals in almost every country and region across the globe. Every day, Hosts offer unique stays and experiences that make it possible for guests to connect with communities in a more authentic way. Airbnb has five stakeholders and is designed with all of them in mind. Along with employees and shareholders, we serve Hosts, guests, and the communities in which they live. We intend to make long-term decisions considering all of our stakeholders because their collective success is key for our business to thrive. A Resilient Model We believe we are well positioned for the road ahead due to our adaptability and relentless innovation. Our business model is adaptable. We have nearly every type of space in nearly every location, so however travel changes, we are able to adapt. Regardless of the economic environment, our guests come to Airbnb because they can find great value, and our Hosts can earn income. We've relentlessly innovated while also staying focused and disciplined. Our Long-Term Growth Strategy Our strategy is to continue to invest in our key strengths: Make hosting mainstream. We're focused on making hosting just as popular as traveling on Airbnb. We will continue to invest in growing the size and quality of our Host community. We plan to attract more Hosts globally by expanding use cases and supporting all different types of Hosts, including those who host occasionally. We will also continue to increase the support that we provide to our Hosts to deliver high-quality stays and experiences for guests. We'll continue to raise awareness around hosting, make it easier to get started, and improve the overall experience for Hosts. Grow and engage our guest community. We intend to continu

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View this 10-K filing on SEC EDGAR