#Yelp advertising full#

The company reported the 10th consecutive quarter of growth in average revenue per location in these categories. In Services, Yelp demonstrated consistent year-over-year growth throughout 2022, resulting in a record $694 million of advertising revenue from Services businesses for the year. Paying advertising locations for the year increased by 7% compared to 2021. Total advertising revenue increased by 15% year over year to a record $1.1 billion, reflecting balanced growth in paying advertising locations and average revenue per location. Strong advertiser demand drove this record revenue performance across categories and channels. Net income decreased by approximately $3 million year over year to positive $36 million.Īdjusted EBITDA grew 10% year over year to a record $270 million, at the midpoint of Yelp’s outlook ranges provided in February and November 2022, representing a 23% adjusted EBITDA margin.

Net revenue increased by 16% year over year to a record $1.2 billion, near the high end of Yelp’s outlook range provided in November 2022 and $14 million above the high end of the company’s initial outlook range provided in February 2022. Yelp’s product-led business model drove a number of record results in 2022, even as macro challenges persisted: For more information regarding the non-GAAP financial measures discussed in this release, please see “Non-GAAP Financial Measures” below. We caution, however, that such items could have a significant impact on the calculation of GAAP Net income (loss). Because Yelp cannot reasonably predict such items, a reconciliation of the non-GAAP financial measure outlook to the corresponding GAAP measure is not available without unreasonable effort. In 2023, we plan to continue our disciplined investments to drive shareholder value over the long term.”ġ Yelp has not reconciled its Adjusted EBITDA outlook to GAAP Net income (loss) because it does not provide an outlook for GAAP Net income (loss) due to the uncertainty and potential variability of Other income, net and Provision for (benefit from) income taxes, which are reconciling items between Adjusted EBITDA and GAAP Net income (loss). “These results demonstrate the strength of our broad-based local advertising platform and the momentum across our strategic initiatives.

“Yelp’s strong performance in 2022 led to 16% year over year net revenue growth, reaching a record $1.2 billion,” said David Schwarzbach, Yelp’s chief financial officer. Looking ahead, we’re confident in our plan to drive profitable growth over the long term as we deliver on our mission to connect consumers with local businesses.” We also reached record levels in the number of business locations that advertise on Yelp and the average amount each location spends, signaling that our product investments are paying off. “Record net revenue, driven by record advertising revenue from services businesses as well as in our most efficient sales channels, reflected strong advertiser demand across categories. “We delivered a number of record financial results in 2022 thanks to the strong execution of our teams on our product-led strategy,” said Jeremy Stoppelman, Yelp’s co-founder and chief executive officer.

#Yelp advertising full#

31, 2022 in the Q4 and Full Year 2022 Shareholder Letter available on its Investor Relations website at. (NYSE: YELP), the company that connects people with great local businesses, today posted its financial results for the fourth quarter and full year ended Dec. 2022 Net Revenue reached a new high of $1.2 billionĢ022 Adjusted EBITDA increased to a record $270 millionĮxpects 2023 Net Revenue in the range of $1.29 billion to $1.31 billion and Adjusted EBITDA 1 in the range of $290 million to $310 million