The earnings call highlighted record net revenue and strong profitability, driven by AI-powered product enhancements and growth in services revenue. However, challenges in RR&O revenue, a decrease in paying advertising locations, and macroeconomic uncertainties present ongoing challenges. Despite these issues, Yelp's strategic focus on AI and data licensing shows promising potential for future growth.

Company Guidance -

Q3 2025

During the Second Quarter 2025 Yelp Inc. Earnings Conference Call, guidance highlighted several key financial metrics and strategic focuses. Yelp reported record net revenue of $370 million, with a net income increase of 16% year-over-year to $44 million, translating to a 12% margin. Adjusted EBITDA rose by 10% to $100 million, representing a 27% margin. Services revenue saw an 8% year-over-year increase, reaching a quarterly record of $241 million, despite a 5% decline in RR&O revenue. Looking ahead, Yelp anticipates third-quarter net revenue to remain flat, ranging between $365 million and $370 million, and adjusted EBITDA to be between $80 million and $85 million. For the full year, Yelp expects net revenue of $1.465 billion to $1.475 billion and adjusted EBITDA between $350 million and $360 million. The company continues to focus on its product-led strategy, particularly AI-powered updates, with significant growth observed in the use of Yelp Assistant and AI search API calls, highlighting its strategic emphasis on AI and data licensing as key opportunities for future growth.

Record Net Revenue and Strong Profitability

Yelp delivered record net revenue of $370 million, with net income margin expanding by 1 percentage point and adjusted EBITDA margin by 2 percentage points from the prior year period.

AI-Powered Product Enhancements

Yelp launched several AI-powered updates, including the Yelp Assistant, which saw a 400% year-over-year increase in project submissions, and initiated testing of Yelp Host, an AI-powered call answering service for restaurants.

Growth in Services Revenue

Services revenue increased by 8% year-over-year to a quarterly record of $241 million, driven by improvements to the request flow and AI chatbot advancements.

Strong Data Licensing Momentum

AI search API calls increased significantly, with a 20x rise over the past year and 10x in the last 2 months, contributing to an annual run rate revenue of more than $10 million related to AI search.

Share Repurchase Program

Yelp repurchased $65.9 million worth of shares, with $202 million remaining under the existing repurchase authorization.

Yelp (YELP) Earnings, Revenues Date & History

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YELP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	0.52 / -	0.56	―	―	―
Aug 07, 2025	2025 (Q2)	0.51 / 0.67	0.54	24.07% (+0.13)	―
May 08, 2025	2025 (Q1)	0.32 / 0.36	0.2	80.00% (+0.16)	―
Feb 13, 2025	2024 (Q4)	0.53 / 0.62	0.37	67.57% (+0.25)
Nov 07, 2024	2024 (Q3)	0.42 / 0.56	0.79	-29.11% (-0.23)	―
Aug 08, 2024	2024 (Q2)	0.27 / 0.54	0.21	157.14% (+0.33)	―
May 09, 2024	2024 (Q1)	0.06 / 0.20	-0.02	1100.00% (+0.22)	―
Feb 15, 2024	2023 (Q4)	0.38 / 0.37	0.28	32.14% (+0.09)
Nov 02, 2023	2023 (Q3)	0.34 / 0.79	0.13	507.69% (+0.66)	―
Aug 03, 2023	2023 (Q2)	0.16 / 0.21	0.11	90.91% (+0.10)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

YELP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$34.18	$31.03	-9.22%
May 08, 2025	$35.74	$38.98	+9.07%
Feb 13, 2025	$40.55	$37.34	-7.92%
Nov 07, 2024	$36.37	$35.93	-1.21%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.