Yelp Inc. (YELP) Earnings Call Transcripts

Yelp Inc.'s Latest Earnings Call - May 18, 2026

In the first quarter of fiscal year 2026, Yelp Inc. reported revenues of $300 million, which was in line with expectations but reflected a year-over-year decline of 5%. The company recorded an adjusted EBITDA of $50 million, representing a margin of 16.7%. Management provided a long-term revenue target of $250 million in 'other revenue' by the end of 2028, indicating a strategic shift towards AI and diversification beyond traditional advertising. The stock may react positively to the ambitious AI initiatives and the acquisition of Hatch, which is expected to enhance revenue streams and operational efficiency.

Reported metrics

Guidance from management

Management maintained a target of $250 million in run rate revenue from 'other revenue' by the end of 2028, emphasizing the need for continued investment in AI and diversification strategies.

What management said

Thanks so much, Cory, for having us at the conference. We'll be making some forward-looking statements during the conversation today that are subject to risks and uncertainties. Please refer to our SEC filings for more information on the risk factors that may affect our results.

We do have a really cool feature that we released called Yelp Menu Vision which is really cool. It's an augmented reality experience where you just point the phone at the menu and it will show you the dishes in the ratings, that's really cool and very helpful because I don't always know what the dish is, and I'd like to see what it looks like, and I want to see what people said about it. And so that's been actually a...

What analysts pressed on

Analysts expressed concerns about the ongoing challenges in the advertising segment, particularly regarding consumer sentiment and small business spending. There is also apprehension about the effectiveness of new product initiatives in driving revenue growth amidst economic uncertainty.

Main topics on the call

• AI Transformation — Yelp is significantly rearchitecting its platform around AI, highlighted by the introduction of Yelp Assistant, a conversational AI tool. David Schwarzbach stated, "We are absolutely reconceiving the entire Yelp experien...
• Diversification of Revenue Streams — Management emphasized the importance of diversifying revenue sources beyond advertising, with 'other revenue' growing 88% due to partnerships like DoorDash. They aim for $250 million in run rate revenue from these stream...
• Challenges in Advertising Revenue — The advertising segment continues to face headwinds, with management noting, "Consumer sentiment is challenged" and rising costs impacting small business advertising budgets. This reflects ongoing uncertainty in the loca...
• Acquisition of Hatch — Yelp's acquisition of Hatch for $270 million is aimed at enhancing lead conversion capabilities across platforms. The acquisition is expected to integrate well with Yelp's existing services and contribute to revenue grow...

Read the full Yelp Inc. transcript (May 18, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 47 Yelp Inc. earnings call transcripts on record, spanning February 13, 2020 to September 9, 2026. Based on this history, Yelp Inc. reports quarterly. The most recent call on file is dated September 9, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

YELP

Exchange

NYSE

Country

US

Sector

Communication Services

Industry

Interactive Media and Services

Calls on record

47

First call

February 13, 2020

Most recent

September 9, 2026

Reporting cadence

quarterly