Filing Flows › Yelp (YELP) › Q1 2026
Yelp (YELP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Yelp (YELP) reported revenue of $361M for the first quarter 2026 (Q1 2026), +0.8% from a year earlier and +0.4% from the quarter before. Operating margin was 7.6%, net earnings $17.7M (4.9% of revenue).
Yelp, Q1 2026: revenue $361M (+0.8% year over year), operating margin 7.6%, net earnings $17.7M, operating cash flow $57.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $361M | +0.4% | +0.8% |
| Operating profit | $27.3M | -44% | -7% |
| Net earnings | $17.7M | -53% | -27% |
| Operating cash flow | $57.8M | -32% | -41% |
| Free cash flow | $45.2M | — | -48% |
What changed
Revenue was $361.5M in Q1 2026, up 1% year over year and roughly flat from the previous quarter. Services was the largest line at 65% of revenue. Other added $12.4M year over year (up 75%), 425% of the total change. Restaurants, Retail & Other declined 11%.
Operating profit was $27.3M, a 7.6% margin (down 0.7 points year over year). Operating profit fell $2.2M even though revenue rose $2.9M versus Q1 2025, so costs grew faster than sales. Total costs grew 2% against revenue growth of 1%. The fastest-growing cost line was Cost of revenue (+10%). Net earnings were $17.7M, down 27% year over year. The effective tax rate was 40.7%.
Operating cash flow was $57.8M (down 41% year over year), 326% of net earnings. Non-cash charges added back $16.2M of depreciation and amortization and $30.5M of share-based compensation. Working capital and other items used $6.7M. After purchases of property, equipment and software ($12.7M), free cash flow as the company reports it was $45.2M.
Questions
What was Yelp's revenue in the first quarter 2026?
Yelp (YELP) reported revenue of $361M for the first quarter 2026 (Q1 2026), +0.8% from a year earlier and +0.4% from the quarter before.
Was Yelp profitable in the first quarter 2026?
Operating profit was $27.3M (7.6% of revenue) and net earnings $17.7M.
Source: Yelp 10-Q on SEC EDGAR.