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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Sergio Segura | KeyBanc Capital Markets | 11 (9%) |
| Nitin Bansal | Bank of America | 10 (30%) |
| Jason Kreyer | Craig-Hallum | 7 (0%) |
| Josh Beck | Raymond James | 6 (0%) |
| Colin Sebastian | Robert W. Baird | 6 (0%) |
| Eric Sheridan | Goldman Sachs | 3 (0%) |
| Rob Coolbrith | Evercore ISI | 2 (0%) |
| Shweta Khajuria | Wolfe Research | 2 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| KeyBanc Capital Markets | 1 | 11 (9%) |
| Bank of America | 1 | 10 (30%) |
| Craig-Hallum | 1 | 7 (0%) |
| Raymond James |
| 2 |
| 7 (0%) |
| Robert W. Baird | 1 | 6 (0%) |
| Goldman Sachs | 1 | 3 (0%) |
| Evercore ISI | 1 | 2 (0%) |
| Wolfe Research | 1 | 2 (0%) |
Yelp's first quarter of 2026 showed a widening split between a pressured advertising core and fast-growing new revenue: net revenue edged up 1% year over year to $361 million ($6 million above guidance) while net income fell 27% to $18 million (a 5% margin) and adjusted EBITDA declined 7% to $79 million. RR&O advertising revenue dropped 11% to $99 million and services advertising grew just 1% to $234 million amid a challenging local-business economy and a March budget softening tied to Middle East conflict. The standout was other revenue, up 75% to a record $29 million on Hatch, data licensing, and food ordering (up 88% via DoorDash), with management targeting a $250 million other-revenue run rate by the end of 2028. GAAP operating income still rose about 11% as stock-based compensation fell to 8% of revenue, while below-the-line items drove the net income decline. Management maintained full-year guidance of $1.455 billion to $1.475 billion in net revenue and $310 million to $330 million in adjusted EBITDA, citing continued macro uncertainty despite the Q1 beat.
Cloud & AI | Revenue Growth | Demand | Competitive Dynamics | Macroeconomic | Innovation & R&D | M&A | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 1 | 3 | 2 | 3 | 1 | 2 | 2 | |
| 2025Q1 | 2 | 4 | 1 | 1 | 2 | 1 | ||
| 2025Q2 | 2 | 2 | 1 | 1 | 1 | 1 | ||
| 2025Q3 | 3 | 3 | 3 | 1 | 2 | 2 | 1 | |
| 2025Q4 | 2 | 3 | 2 | 1 | 2 | 2 | 2 | |
| 2026Q1 | 5 | 2 | 2 | 1 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Cloud & AI | 1 | 2 | 2 | 3 | 2 | 5 |
| Revenue Growth | 3 | 2 | 3 | 3 | 2 | |
| Demand | 2 | 4 | 1 | 3 | 2 | |
| Competitive Dynamics | 3 | 1 | 1 | 1 | 1 | 2 |
| Macroeconomic | 1 | 1 | 1 | 2 | 2 | 1 |
| Innovation & R&D | 2 | 1 | 2 | 2 | 1 | |
| M&A | 2 | 1 | 1 | 2 | ||
| Guidance Reliability | 2 | 2 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $362M | +5.7% | $0.62 | +67.6% | 14.8% | 11.7% | $60M |
| FY2025 Q1 | $359M | +7.7% | $0.36 | +80.0% | 8.2% | 6.8% | $87M |
| FY2025 Q2 | $370M | +3.7% | $0.67 | +24.1% | 14.4% | 11.9% | $45M |
| FY2025 Q3 | $376M | +4.4% | $0.60 | +7.1% | 14.1% | 10.5% | $119M |
| FY2025 Q4 | $360M | -0.5% | $0.61 | -1.6% | 13.6% | 10.5% | $72M |
| FY2026 Q1 | $361M | +0.8% | $0.30 | -16.7% | 9.0% | 4.9% | $45M |
| FY2026 Q2 | $376M | +1.4% | $0.57 | -14.9% | 11.6% | 8.4% | $106M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What YELP and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Yelp content appears relatively limited versus sources like Reddit, OpenTable, Tripadvisor.”
An analyst noted Yelp content surfaces less prominently than Reddit in ChatGPT local results today, a read-through on Reddit's strong AI-search content visibility.
“we announced new integrations with Vagaro and Zocdoc to enable users to book beauty, wellness, fitness and health care appointments.”
Yelp integrated Zocdoc to let users book health care appointments, extending its discovery-to-action layer.
“we announced new integrations with Vagaro and Zocdoc to enable users to book beauty, wellness, fitness and health care appointments.”
Yelp integrated Vagaro to let users book beauty, wellness, and fitness appointments, extending its discovery-to-action layer.
“Hatch's annual run rate revenue exceeded $34 million in March, up 92% year-over-year.”
Hatch, acquired by Yelp in February 2026, reached a $34 million annual run rate up 92%, driving Yelp's other-revenue growth.
“Consumers can now find licensed Yelp content on Amazon Alexa, Apple Maps, Microsoft Bing, Meta.ai and Yahoo, among many other platforms.”
Licensed Yelp content appears on Meta.ai, extending Yelp's local data into Meta's AI assistant.
“Consumers can now find licensed Yelp content on Amazon Alexa, Apple Maps, Microsoft Bing, Meta.ai and Yahoo, among many other platforms.”
Licensed Yelp content appears on Microsoft Bing, feeding Yelp local data into Microsoft's search.
“Consumers can now find licensed Yelp content on Amazon Alexa, Apple Maps, Microsoft Bing, Meta.ai and Yahoo, among many other platforms.”
Licensed Yelp content appears on Apple Maps, a long-standing surface for Yelp's local data.
“Consumers can now find licensed Yelp content on Amazon Alexa, Apple Maps, Microsoft Bing, Meta.ai and Yahoo, among many other platforms.”
Licensed Yelp content now appears on Amazon Alexa, extending Yelp's local data into Amazon's voice assistant.
“we secured new licensing agreements, including with OpenAI and expanded our integrations with existing partners.”
Yelp secured a new data-licensing agreement with OpenAI, extending its trusted local content into ChatGPT-class AI search.
“consumers took advantage of the hundreds of thousands of new restaurants available for food ordering and delivery through our DoorDash partnership with food ordering revenue up 88% year-over-year.”
Yelp's DoorDash food-ordering partnership drove food ordering revenue up 88%, expanding DoorDash's order funnel via Yelp discovery.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
YELP Yelp Inc. | 6 | +0.8% | |
| DASH DoorDash | 7 | +33.1% | |
| EVER EverQuote, Inc. | 8 | +14.5% | |
| GOOGL Alphabet Inc. | 9 | +21.8% | |
| MAX MediaAlpha, Inc. | 8 | +17.3% | |
| META Meta Platforms, Inc. | 8 | +33.1% | |
| NBIS Nebius Group N.V. | 8 | +621.5% | |
| PINS Pinterest, Inc. | 8 | +17.8% | |
| RDDT Reddit, Inc. | 9 | +69.1% | |
| SNAP Snap Inc. | 7 | +12.2% |