Airbnb, Inc. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $12.2B |
| Gross margin | 83.0% |
| Operating income | $2.5B |
| Net income | $2.5B |
| Diluted EPS | — not reported |
| Cash & equivalents | $6.6B |
| Total assets | $22.2B |
| Long-term debt | $0 |
Key takeaway
Airbnb generated $12.2 billion in revenue with a 83% gross margin and $2.5 billion in net income, demonstrating strong unit economics and pricing power in the global short-term rental market.
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Beneath the surface
The company reports zero long-term debt but carries $2.0 billion in current debt due within 12 months; however, net-cash position remains strong at ~$9 billion after deducting all debt from liquid assets, well above refinancing needs.
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This is the free preview. The full analysis explains every line item above and includes 7 more findings — plus insider trades, activist stakes, and 8-K events for ABNB.
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