Yelp Inc. operates a platform that connects consumers with local businesses in the United States and internationally. Its platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services. It provides free and paid advertising products to businesses, which include cost-per-click advertising and multi-location Ad products, RepairPal network, and business listing pages. The company also offers Yelp Connect that provides advertisers with a channel to market new offerings, such as new menu items and specials, and communicate business updates to customers; Yelp Guaranteed that provides limited coverage to consumers who hire a yelp guaranteed business through request-a-quote in the event; Nearby Jobs solutions; Yelp Guest Manager, a subscription-based suite of front-of-house management tools for restaurants, nightlife, and certain other venues, which include online reservations, a waitlist management solution, as well as through hostless kiosks, and seating and server rotation management tools; Yelp Fusion Insights program that offers business owners local analytics and insights; and Yelp Fusion, which offers free access to basic information through publicly available APIs and paid access to content and data for consumer-facing enterprise use. In addition, it provides content licensing and consumer-interactive tools. Further, the company offers its products directly through its sales force; indirectly through partners; and online through its website and business app, as well as non-advertising partner arrangements. It has partnership with DOORDASH to provide consumers with a service to place food orders for pickup and delivery. The company was formerly known as Yelp! Inc. and changed its name to Yelp Inc. in November 2005. Yelp Inc. was incorporated in 2004 and is based in San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.5B | $245M | $146M | $324M | 20.5% | 3.7% | 9.6% |
| 2024 | $1.4B | $207M | $133M | $248M | 17.9% | 5.6% | 34.0% |
| 2023 | $1.3B | $149M | $99M | $279M | 13.2% | 12.0% | 172.9% |
| 2022 | $1.2B | $136M | $36M | $160M | 5.1% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,193.51 | 1,337.06 | 1,412.06 | 1,464.96 |
| Operating Revenue | - | 1,134.40 | 1,276.52 | 1,349.02 | 1,391.26 |
| Cost Of Revenue | - | 105.70 | 114.23 | 123.68 | 142.60 |
| Gross Profit | - | 1,087.80 | 1,222.83 | 1,288.38 | 1,322.36 |
| Operating Expense | - | 1,029.45 | 1,143.79 | 1,137.34 | 1,137.84 |
| Research And Development | - | 305.56 | 332.57 | 325.99 | 313.69 |
| Selling General And Administration | - | 679.04 | 769.04 | 770.94 | 774.06 |
| Total Expenses | - | 1,135.15 | 1,258.02 | 1,261.02 | 1,280.43 |
| Operating Income | - | 58.35 | 79.04 | 151.04 | 184.52 |
| Total Operating Income As Reported | - | 58.35 | 79.04 | 151.04 | 184.52 |
| EBITDA | - | 136.01 | 149.31 | 206.55 | 245.01 |
| Normalized EBITDA | - | 136.15 | 149.31 | 203.44 | 245.01 |
| EBIT | - | 58.35 | 79.04 | 151.04 | 184.52 |
| Net Interest Income | - | 5.76 | 19.57 | 20.92 | 13.80 |
| Other Non Operating Income Expenses | - | 2.79 | 6.47 | 7.89 | 5.71 |
| Other Income Expense | - | 2.66 | 6.47 | 10.99 | 5.71 |
| Net Non Operating Interest Income Expense | - | 5.76 | 19.57 | 20.92 | 13.80 |
| Pretax Income | - | 66.78 | 105.08 | 182.96 | 204.03 |
| Tax Provision | - | 30.43 | 5.91 | 50.11 | 58.43 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.03 | 0 | 0.85 | 0 |
| Net Income Continuous Operations | - | 36.35 | 99.17 | 132.85 | 145.60 |
| Net Income From Continuing And Discontinued Operation | - | 36.35 | 99.17 | 132.85 | 145.60 |
| Net Income From Continuing Operation Net Minority Interest | - | 36.35 | 99.17 | 132.85 | 145.60 |
| Net Income | - | 36.35 | 99.17 | 132.85 | 145.60 |
| Net Income Common Stockholders | - | 36.35 | 99.17 | 132.85 | 145.60 |
| Net Income Including Noncontrolling Interests | - | 36.35 | 99.17 | 132.85 | 145.60 |
| Normalized Income | - | 36.45 | 99.17 | 130.60 | 145.60 |
| Diluted NI Availto Com Stockholders | - | 36.35 | 99.17 | 132.85 | 145.60 |
| Basic Average Shares | - | 70.87 | 69.22 | 67.42 | 63.33 |
| Diluted Average Shares | - | 73.40 | 73.60 | 70.61 | 65.09 |
| Reconciled Depreciation | - | 77.66 | 70.27 | 55.50 | 60.49 |
| Reconciled Cost Of Revenue | - | 72.90 | 86.14 | 108.59 | 132.20 |
| Total Unusual Items | - | -0.13 | 0 | 3.10 | 0 |
| Total Unusual Items Excluding Goodwill | - | -0.13 | 0 | 3.10 | 0 |
| Special Income Charges | - | 0 | 0 | 3.10 | 0 |
| Other Special Charges | - | - | - | -3.10 | - |
| Restructuring And Mergern Acquisition | 0.03 | 0 | 0 | - | - |
| Gain On Sale Of Security | 0.23 | -0.13 | 0.05 | -0.55 | - |
| Depreciation Amortization Depletion Income Statement | - | 44.85 | 42.18 | 40.41 | 50.09 |
| Depreciation And Amortization In Income Statement | - | 44.85 | 42.18 | 40.41 | 50.09 |
| General And Administrative Expense | - | 164.11 | 212.43 | 184.96 | 181.95 |
| Other Gand A | - | 164.11 | 212.43 | 184.96 | 181.95 |
| Total Other Finance Cost | - | -5.76 | -19.57 | -20.92 | -13.80 |
| Selling And Marketing Expense | - | 514.93 | 556.60 | 585.98 | 592.11 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Yelp Inc.this co. | YELP | $1.3B | 8.92 | 1.83 | 20.5% | 4.52 |
| Liberty Latin America Ltd. | LILA | $1.5B | -2.47 | 2.72 | -110.0% | 10.02 |
| AMC Entertainment Holdings, Inc. | AMC | $1.5B | -2.34 | -0.78 | 33.4% | 42.59 |
| IDT Corporation | IDT | $1.4B | 18.16 | 4.53 | 24.9% | 9.09 |
| Anterix Inc. | ATEX | $1.3B | -111.93 | 8.13 |
| - |
| - |
| - |
| - |
| -7.3% |
| -25.39 |
| NMAX | NMAX | $1.2B | -12.42 | 11.66 | -93.8% | -13.15 |
| USA TODAY Co., Inc. | TDAY | $1.2B | 687.17 | 7.75 | 1.1% | 8.58 |
| Playtika Holding Corp. | PLTK | $1.2B | -5.81 | -2.91 | 50.2% | 14.84 |
| Upwork Inc. | UPWK | $1.1B | 9.35 | 1.71 | 18.3% | 7.42 |
| Peer Median | - | -2.40 | 3.62 | 9.7% | 8.84 | |