Yelp (YELP) Q3 FY2026 earnings: revenue $371 million, down 1.4% on the year

Yelp Inc. (YELP) reported revenue of $371 million for Q3 FY2026, the quarter ended 30 September 2026, down 1.4% on the same quarter a year earlier. Net income was $35 million, down 12.1% on the year, and diluted earnings per share $0.63. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2026.

Revenue

$371 million

-1.4% on the year · -1.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

13.2%

14.1% a year earlier

Q4 FY2024Q3 FY2026

Net income

$35 million

-12.1% on the year · +9.2% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.63

+3.3% on the year · +10.5% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 lowered, 1 narrowed, 5 new.

Net revenue down 1% year over year: The company reported net revenue of $371 million, down 1% from the third quarter of 2025 and $1 million above the high end of its third-quarter guidance range.
Adjusted EBITDA down 6% to $92 million: Adjusted EBITDA was $92 million, down 6%, with a 25% margin, and $17 million above the high end of the third-quarter range.
RR&O advertising revenue down 13%: RR&O advertising revenue fell 13% to $99 million on lower ad clicks and average CPC. Food ordering and delivery competition was a lesser factor.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	371	376	376	-1.2%	-1.4%
Cost of revenue	42.2	41.8	36.3	+0.9%	+16.2%
Gross profit	329	334	340	-1.5%	-3.2%
Gross margin	88.6%	88.9%	90.3%
Operating income	48.9	43.7	52.9	+11.8%	-7.5%
Operating margin	13.2%	11.6%	14.1%
Interest expense	1.4	1.6	0.1	-9.1%	+1,088.5%
Pre-tax income	50.2	44.5	58.2	+13.0%	-13.7%
Income tax	15.7	12.8	18.9	+22.5%	-17.0%
Effective tax rate	31.2%	28.8%	32.5%
Net income	34.6	31.7	39.3	+9.2%	-12.1%
Net margin	9.3%	8.4%	10.5%
Diluted EPS	$0.63	$0.57	$0.61	+10.5%	+3.3%

$ 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	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	100.0	75.8	132	+31.8%	-24.0%
Capital expenditure	15.4	14.7	12.6	+4.5%	+22.5%
Free cash flow	84.5	61.1	119	+38.4%	-28.9%
Free cash flow margin	22.8%	16.3%	31.6%
Cash from investing	-15.8	-15.4	-11.4
Cash from financing	-58.1	-77.1	-86.2
Depreciation and amortisation	17.4	18.1	12.5	-4.1%	+38.7%
Share-based compensation	23.1	25.7	32.9	-10.3%	-29.8%
Buybacks	26.1	50.0	75.0	-47.8%	-65.2%
Diluted shares, weighted	55m	56m	64m	-1.7%	-14.7%
Shares outstanding at period end	54m	55m	62m	-0.9%	-12.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	672	645	733	+4.3%	-8.4%
Debt	75.0	100	0.0	-25.0%
Operating lease liabilities	14.1	16.0	19.0	-11.7%	-25.7%
Other liabilities	242	230	238	+5.1%	+1.7%
Total liabilities and equity	1,003	991	990	+1.2%	+1.3%
Fixed assets	106	99.2	89.8	+6.4%	+17.6%
Goodwill	353	355	136	-0.4%	+160.4%
Intangible assets	86.4	92.1	51.5	-6.2%	+67.8%
Investments	0.0	0.0	102
Cash and equivalents	120	94.1	231	+27.3%	-48.1%
Receivables	151	158	153	-4.0%	-1.3%
Other assets	186	193	226	-3.4%	-17.6%
Total assets	1,003	991	990	+1.2%	+1.3%

Questions

What was Yelp's revenue in Q3 FY2026?

Yelp (YELP) reported revenue of $371 million for Q3 FY2026, the quarter ended 30 September 2026, down 1.4% on the same quarter a year earlier.

How much did Yelp earn in Q3 FY2026?

Net income for Q3 FY2026 was $35 million, down 12.1% on the year, and diluted earnings per share $0.63.

When did Yelp report Q3 FY2026 results?

Yelp filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 6 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	273	277	299	309	309	312	337	345	342	333	357	360	362	359	370	376	360	361	376	371
Cost of revenue	24.0	23.4	27.0	26.8	28.5	26.1	30.2	28.4	29.6	27.4	30.7	32.4	33.3	34.8	35.4	36.3	36.0	38.4	41.8	42.2
Gross profit	249	253	272	282	281	286	307	317	313	305	326	328	329	324	335	340	324	323	334	329
Gross margin	91%	92%	91%	91%	91%	92%	91%	92%	91%	92%	91%	91%	91%	90%	90%	90%	90%	89%	89%	89%
R&D	59.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating income	19.6	-4.5	16.0	13.4	33.4	-6.6	18.7	41.9	25.0	11.2	39.7	46.7	53.4	29.5	53.3	52.9	48.9	27.3	43.7	48.9
Operating margin	7%	-2%	5%	4%	11%	-2%	6%	12%	7%	3%	11%	13%	15%	8%	14%	14%	14%	8%	12%	13%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.1	0.1	n/a	n/a	1.6	1.4
Pre-tax income	20.2	-3.5	17.3	16.1	36.9	-1.4	24.6	48.0	33.8	18.9	50.1	53.9	60.1	35.2	59.0	58.2	51.6	29.9	44.5	50.2
Tax rate	-15%	n/a	54%	43%	45%	n/a	40%	-21%	19%	25%	24%	29%	30%	31%	25%	32%	27%	41%	29%	31%
Net income	23.2	-0.9	8.0	9.1	20.1	-1.2	14.7	58.2	27.4	14.2	38.0	38.4	42.2	24.4	44.1	39.3	37.8	17.7	31.7	34.6
Net margin	8%	-0%	3%	3%	7%	-0%	4%	17%	8%	4%	11%	11%	12%	7%	12%	10%	10%	5%	8%	9%
Diluted EPS	$0.30	-$0.01	$0.11	$0.13	$0.28	-$0.02	$0.21	$0.79	$0.37	$0.20	$0.54	$0.56	$0.62	$0.36	$0.67	$0.61	$0.61	$0.30	$0.57	$0.63
Operating cash flow	44.9	59.9	18.3	69.6	44.5	74.2	48.0	105	79.2	72.9	39.7	102	71.0	98.0	58.0	132	84.5	57.8	75.8	100.0
Capital expenditure	6.7	6.6	7.9	5.6	11.9	7.5	7.6	5.7	6.0	7.0	9.6	9.8	11.0	10.5	13.0	12.6	12.2	12.7	14.7	15.4
Free cash flow	38.2	53.3	10.5	64.0	32.6	66.7	40.4	99.2	73.2	65.9	30.1	92.5	60.0	87.5	45.0	119	72.3	45.2	61.1	84.5
Buybacks	85.1	50.0	50.0	50.0	50.0	50.0	50.0	50.0	50.0	62.5	60.2	65.7	62.8	62.5	66.0	75.0	87.5	124	50.0	26.1
Shares outstanding	72m	72m	71m	70m	70m	70m	69m	69m	69m	68m	68m	67m	66m	65m	64m	62m	60m	56m	55m	54m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 6 November 2026: the filing.