Airbnb, Inc.ABNB

Airbnb, Inc. Earnings Per Share Disclosure

10-KFiled Feb 12, 20262 min read
Net Income per Share
The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders for the years indicated (in millions, except per share amounts):

Year Ended December 31,
202320242025
Net income
$4,792 $2,648 $2,511 
Add: convertible notes interest expense, net of tax3 4 3 
Net income - diluted
$4,795 $2,652 $2,514 
Weighted-average shares in computing net income per share attributable to Class A and Class B common stockholders:
Basic637 632 613 
Effect of dilutive securities25 13 10 
Diluted662 645 623 
Net income per share attributable to Class A and Class B common stockholders:
Basic$7.52 $4.19 $4.10 
Diluted$7.24 $4.11 $4.03 

The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to 20 votes per share. Each share of Class B common stock is convertible into a share of Class A common stock voluntarily at any time by the holder, and automatically upon certain events. The Class A common stock has no conversion rights. As the liquidation and dividend rights are identical for Class A and Class B common stock, the undistributed earnings are allocated on a proportional basis and the resulting net income per share attributable to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis.

As of each December 31, 2023, 2024, and 2025, RSUs to be settled in 9.6 million shares of Class A common stock were excluded from the table below because they are subject to market conditions that were not achieved as of such date.

Additionally, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in millions):

Year Ended December 31,
202320242025
Stock options2 2 2 
RSUs5 7 11 
Total7 9 13 

Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2023Feb 16, 2024

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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