Yelp (YELP) FY2024 results: revenue $1.4 billion, up 5.6% on the year

Yelp Inc. (YELP) reported revenue of $1.4 billion for fiscal 2024, the year ended 31 December 2024, up 5.6% on the year before. Net income was $133 million, up 34.0%, and diluted earnings per share $1.88. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue

$1.4 billion

+5.6% on the year

FY2017FY2024

Operating margin

10.7%

5.9% a year earlier

FY2017FY2024

Net income

$133 million

+34.0% on the year

FY2017FY2024

Diluted EPS

$1.88

+39.3% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,412	1,337	1,194	+5.6%
Cost of revenue	124	114	106	+8.3%
Gross profit	1,288	1,223	1,088	+5.4%
Gross margin	91.2%	91.5%	91.1%
Research and development	310	321	294	-3.2%
Operating income	151	79.0	58.4	+91.1%
Operating margin	10.7%	5.9%	4.9%
Pre-tax income	183	105	66.8	+74.1%
Income tax	50.1	5.9	30.4	+748.0%
Effective tax rate	27.4%	5.6%	45.6%
Net income	133	99.2	36.3	+34.0%
Net margin	9.4%	7.4%	3.0%
Diluted EPS	$1.88	$1.35	$0.50	+39.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	286	306	192	-6.7%
Capital expenditure	37.3	26.8	32.0	+39.1%
Free cash flow	248	279	160	-11.1%
Free cash flow margin	17.6%	20.9%	13.4%
Cash from investing	-77.3	-54.7	-126
Cash from financing	-304	-247	-238
Depreciation and amortisation	40.4	42.2	44.9	-4.2%
Share-based compensation	158	173	156	-8.8%
Buybacks	251	200	200	+25.6%
Diluted shares, weighted	71m	74m	73m	-4.1%
Shares outstanding at period end	66m	69m	70m	-4.5%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	744	750	710	-0.7%
Debt	0.0	0.0	0.0
Operating lease liabilities	22.5	48.1	86.7	-53.3%
Other liabilities	217	217	219	+0.0%
Total liabilities and equity	984	1,015	1,016	-3.1%
Fixed assets	75.7	68.7	77.2	+10.2%
Goodwill	131	104	102	+26.1%
Intangible assets	58.8	7.6	9.0	+669.7%
Investments	101	127	94.2	-21.1%
Cash and equivalents	217	314	306	-30.8%
Receivables	155	146	132	+6.3%
Other assets	245	247	295	-0.8%
Total assets	984	1,015	1,016	-3.1%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.