SpendscapeCompanies · ad platform
Yelp
Sell sideYELP
Yelp brought in $1.46B of revenue in fiscal 2025, growing 11% a year over five years at a 13% operating margin.
$1.46Brevenue, FY2025
+11%growth a year, 5 years
13%operating margin
Revenue and margin
Bars: revenue, $B (10-K). Line: operating margin. Years where the filing's revenue line isn't comparable are left out of the line.
What they see in the market
What its leaders and filings say about the ad market: its own ad business, or the channels advertisers use, since 2019; counts are statements, not spending.
Paid search 33× since 2019Affiliate & lead gen 32× since 2019Programmatic & display 15× since 2019Measurement 14× since 2019AI in marketing 12× since 2019CRM, loyalty & first-party data 8× since 2019Creative campaigns 6× since 2019SEO & AI search 4× since 2019
- Affiliate & lead gen “We also directed leads acquired via paid search to multi-location Services advertisers, which contributed to substantial budget growth from these customers over the first half of the year.” Jeremy Stoppelman on the earnings call · Aug 13, 2026 · source
- Measurement “And so we've been very targeted in the way that we go out and do that and are really confident in the ROAS of that spend for our customers.” Joseph Nachman on the earnings call · Aug 13, 2026 · source
- AI in marketing “For advertisers, we improved our advertising technology and ad formats.” Jeremy Stoppelman on the earnings call · Aug 13, 2026 · source
- Paid search “We generate advertising revenue from the sale of our advertising products — including business page upgrades and performance-based advertising in search results and elsewhere on our platform — to businesses of all sizes, from single-location local businesses to multi-location…” 10-Q · May 8, 2026 · source
- Programmatic & display “Yelp Ads can also be delivered through syndication on the Yelp Ads Network, a large collection of third-party sites.” 10-K · Feb 27, 2026 · source