Find a company. Follow its revenue through costs and profit.
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Sankey diagram of Airbnb, Inc.. A complete text table follows the diagram.
Most guest spending passes through to hosts and other booking components; Airbnb monetizes the marketplace through its retained fee revenue.
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Gross booking value is a marketplace activity measure, not GAAP revenue. The first split illustrates platform monetization using two reported anchors and an explicitly labeled arithmetic difference; it does not assert that the residual is entirely paid to hosts.
Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.
| Category | Stage | Value | Notes |
|---|---|---|---|
| Guest gross booking value | 1 | $29.2B | 19% year-over-year growth |
| Airbnb fee revenue | 2 | $2.7B | 9.2% implied take of booking value |
| Booking value not retained | 2 | $26.5B | Hosts, taxes and other booking components |
| Operating income | 3 | $86M | 3.2% operating margin |
| Payments & platform delivery | 3 | $581M | Cost of revenue |
| Operations & support | 3 | $326M | Customer service and trust operations |
| Product development | 3 | $638M | 24% of revenue |
| Sales & marketing | 3 | $751M | Up 33% year over year |
| General & administrative | 3 | $296M | 11% of revenue |
| Interest income | 3 | $155M | Income on customer funds and cash |
| Other income | 3 | $40M | Net other result |
| Income before tax | 4 | $281M | 10.5% of revenue |
| Net income | 5 | $160M | 6.0% net margin |
| Income tax | 5 | $121M | 43.1% effective rate |
| From | To | Value |
|---|---|---|
| Guest gross booking value | Airbnb fee revenue | $2.7B |
| Guest gross booking value | Booking value not retained | $26.5B |
| Airbnb fee revenue | Operating income | $86M |
| Airbnb fee revenue | Payments & platform delivery | $581M |
| Airbnb fee revenue | Operations & support | $326M |
| Airbnb fee revenue | Product development | $638M |
| Airbnb fee revenue | Sales & marketing | $751M |
| Airbnb fee revenue | General & administrative | $296M |
| Operating income | Income before tax | $86M |
| Interest income | Income before tax | $155M |
| Other income | Income before tax | $40M |
| Income before tax | Net income | $160M |
| Income before tax | Income tax | $121M |