Filing Flows › Yelp (YELP) › Q4 2025
Yelp (YELP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Yelp (YELP) reported revenue of $360M for the fourth quarter 2025 (Q4 2025), -0.5% from a year earlier and -4% from the quarter before. Operating margin was 13.6%, net earnings $37.8M (10.5% of revenue).
Yelp, Q4 2025: revenue $360M (-0.5% year over year), operating margin 13.6%, net earnings $37.8M, operating cash flow $84.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $360M | -4% | -0.5% |
| Operating profit | $48.9M | -8% | -9% |
| Net earnings | $37.8M | -4% | -10% |
| Operating cash flow | $84.5M | -36% | +19% |
| Free cash flow | $72.3M | — | +21% |
What changed
Revenue was $360.0M in Q4 2025, down 1% year over year and down 4% from the previous quarter. Services was the largest line at 64% of revenue.
Operating profit was $48.9M, a 13.6% margin (down 1.2 points year over year). Total costs grew 1% against a revenue fall of 1%. Net earnings were $37.8M, down 10% year over year. The effective tax rate was 26.7%.
Operating cash flow was $84.5M (up 19% year over year), 224% of net earnings. Non-cash charges added back $12.9M of depreciation and amortization and $28.9M of share-based compensation. Working capital and other items added $5.0M. After purchases of property, equipment and software ($12.2M), free cash flow as the company reports it was $72.3M.
Questions
What was Yelp's revenue in the fourth quarter 2025?
Yelp (YELP) reported revenue of $360M for the fourth quarter 2025 (Q4 2025), -0.5% from a year earlier and -4% from the quarter before.
Was Yelp profitable in the fourth quarter 2025?
Operating profit was $48.9M (13.6% of revenue) and net earnings $37.8M.
Source: Yelp 10-K on SEC EDGAR.