YELP INC, 10-K filed on 2/27/2025
Annual Report
v3.25.0.1
Cover page - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 18, 2025
Jun. 28, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-35444    
Entity Registrant Name YELP INC    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 20-1854266    
Entity Address, Address Line One 350 Mission Street, 10th Floor    
Entity Address, City or Town San Francisco    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94105    
City Area Code 415    
Local Phone Number 908-3801    
Title of 12(b) Security Common Stock, par value $0.000001 per share    
Trading Symbol YELP    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 1,584,421,099
Entity Common Stock, Shares Outstanding   65,033,177  
Documents Incorporated by Reference
Portions of the registrant’s definitive Proxy Statement for the 2025 Annual Meeting of Stockholders to be filed with the U.S. Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K are incorporated by reference in Part III, Items 10-14 of this Annual Report on Form 10-K.
    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001345016    
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Audit Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor Firm ID 34
Auditor Name DELOITTE & TOUCHE LLP
Auditor Location San Francisco, California
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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 217,325 $ 313,911
Short-term marketable securities 100,581 127,485
Accounts receivable (net of allowance for doubtful accounts of $15,301 and $13,768 at December 31, 2024 and 2023, respectively) 155,325 146,147
Prepaid expenses and other current assets 43,648 36,673
Total current assets 516,879 624,216
Property, equipment and software, net 75,669 68,684
Operating lease right-of-use assets 24,112 48,573
Goodwill 130,980 103,886
Intangibles, net 58,787 7,638
Other non-current assets 177,140 161,726
Total assets 983,567 1,014,723
Current liabilities:    
Accounts payable and accrued liabilities 131,322 132,809
Operating lease liabilities — current 20,679 39,234
Deferred revenue 2,973 3,821
Total current liabilities 154,974 175,864
Operating lease liabilities — long-term 22,470 48,065
Other long-term liabilities 62,154 41,260
Total liabilities 239,598 265,189
Commitments and contingencies (Note 14)
Stockholders’ equity:    
Common stock, $0.000001 par value — 200,000 shares authorized, 65,792 shares issued and outstanding at December 31, 2024 and 68,864 shares issued and outstanding at December 31, 2023 0 0
Additional paid-in capital 1,903,598 1,786,667
Treasury stock (3,909) (282)
Accumulated other comprehensive loss (15,431) (12,202)
Accumulated deficit (1,140,289) (1,024,649)
Total stockholders’ equity 743,969 749,534
Total liabilities and stockholders’ equity $ 983,567 $ 1,014,723
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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Financial Position [Abstract]        
Accounts receivable, allowance for credit loss, current $ 15,301 $ 13,768 $ 9,277 $ 7,153
Common stock, par value (in dollars per share) $ 0.000001 $ 0.000001    
Common stock, shares authorized (in shares) 200,000,000 200,000,000    
Common stock, shares issued (in shares) 65,792,000 68,864,000    
Common stock, shares outstanding (in shares) 65,792,000 68,864,000    
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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Net revenue $ 1,412,064 $ 1,337,062 $ 1,193,506
Costs and expenses:      
Cost of revenue (exclusive of depreciation and amortization and stock-based compensation) 123,684 114,229 105,705
Sales and marketing 585,978 556,605 514,927
Product development 325,992 332,570 305,561
General and administrative 184,958 212,431 164,108
Depreciation and amortization 40,407 42,184 44,852
Total costs and expenses 1,261,019 1,258,019 1,135,153
Income from operations 151,045 79,043 58,353
Other income, net 31,915 26,039 8,425
Income before income taxes 182,960 105,082 66,778
Provision for income taxes 50,110 5,909 30,431
Net income attributable to common stockholders $ 132,850 $ 99,173 $ 36,347
Net income per share attributable to common stockholders      
Basic (in dollars per share) $ 1.97 $ 1.43 $ 0.51
Diluted (in dollars per share) $ 1.88 $ 1.35 $ 0.50
Weighted-average shares used to compute net income per share attributable to common stockholders      
Basic (in shares) 67,415 69,221 70,867
Diluted (in shares) 70,611 73,596 73,402
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income attributable to common stockholders $ 132,850 $ 99,173 $ 36,347
Other comprehensive (loss) income:      
Foreign currency translation adjustments, net of tax (3,342) 2,876 (3,975)
Unrealized gain (loss) on available-for-sale debt securities, net of tax 113 467 (480)
Other comprehensive (loss) income (3,229) 3,343 (4,455)
Comprehensive income $ 129,621 $ 102,516 $ 31,892
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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Treasury Stock
Accumulated Other Comprehensive Loss
Accumulated Deficit
Balance (in shares) at Dec. 31, 2021   72,171        
Balance at beginning at Dec. 31, 2021 $ 751,318 $ 0 $ 1,522,572 $ 0 $ (11,090) $ (760,164)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon exercises of employee stock options (in shares)   304        
Issuance of common stock upon exercises of employee stock options 7,500   7,500      
Issuance of common stock upon vesting of restricted stock units ("RSUs"), net (in shares)   2,890        
Issuance of common stock upon vesting of restricted stock units (“RSUs”), net 0          
Issuance of common stock for employee stock purchase plan (in shares)   627        
Issuance of common stock for employee stock purchase plan 16,030   16,030      
Stock-based compensation (inclusive of capitalized stock-based compensation) 164,985   164,985      
Taxes withheld related to net share settlement of equity awards (61,395)   (61,395)      
Repurchases of common stock (200,006)     (200,006)    
Retirement of common stock (in shares)   (6,195)        
Retirement of common stock 0     200,006   (200,006)
Other comprehensive (loss) income (4,455)       (4,455)  
Net income 36,347         36,347
Balance (in shares) at Dec. 31, 2022   69,797        
Balance at end at Dec. 31, 2022 710,324 $ 0 1,649,692 0 (15,545) (923,823)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon exercises of employee stock options (in shares)   847        
Issuance of common stock upon exercises of employee stock options 20,261   20,261      
Issuance of common stock upon vesting of restricted stock units ("RSUs"), net (in shares)   3,243        
Issuance of common stock upon vesting of restricted stock units (“RSUs”), net 0          
Issuance of common stock for employee stock purchase plan (in shares)   604        
Issuance of common stock for employee stock purchase plan 19,206   19,206      
Stock-based compensation (inclusive of capitalized stock-based compensation) 183,178   183,178      
Taxes withheld related to net share settlement of equity awards (85,670)   (85,670)      
Repurchases of common stock (200,281)     (200,281)    
Retirement of common stock (in shares)   (5,627)        
Retirement of common stock 0     199,999   (199,999)
Other comprehensive (loss) income 3,343       3,343  
Net income $ 99,173         99,173
Balance (in shares) at Dec. 31, 2023 68,864 68,864        
Balance at end at Dec. 31, 2023 $ 749,534 $ 0 1,786,667 (282) (12,202) (1,024,649)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon exercises of employee stock options (in shares) 37 37        
Issuance of common stock upon exercises of employee stock options $ 1,244   1,244      
Issuance of common stock upon vesting of restricted stock units ("RSUs"), net (in shares)   2,863        
Issuance of common stock upon vesting of restricted stock units (“RSUs”), net 0          
Issuance of common stock for employee stock purchase plan (in shares)   614        
Issuance of common stock for employee stock purchase plan 19,546   19,546      
Stock-based compensation (inclusive of capitalized stock-based compensation) 169,970   169,970      
Taxes withheld related to net share settlement of equity awards (73,829)   (73,829)      
Repurchases of common stock (252,117)     (252,117)    
Retirement of common stock (in shares)   (6,586)        
Retirement of common stock 0     248,490   (248,490)
Other comprehensive (loss) income (3,229)       (3,229)  
Net income $ 132,850         132,850
Balance (in shares) at Dec. 31, 2024 65,792 65,792        
Balance at end at Dec. 31, 2024 $ 743,969 $ 0 $ 1,903,598 $ (3,909) $ (15,431) $ (1,140,289)
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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 132,850 $ 99,173 $ 36,347
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 40,407 42,184 44,852
Provision for doubtful accounts 45,614 40,702 25,006
Stock-based compensation 158,193 173,451 156,090
Amortization of right-of-use assets 15,094 28,084 32,810
Deferred income taxes (24,920) (22,150) (56,621)
Amortization of deferred contract cost 24,854 24,035 18,827
Asset impairment 5,914 23,563 10,464
Other adjustments, net (2,412) (410) 1,036
Changes in operating assets and liabilities:      
Accounts receivable (51,033) (54,947) (49,555)
Prepaid expenses and other assets (24,314) (5,123) (36,032)
Operating lease liabilities (39,230) (39,734) (40,057)
Accounts payable, accrued liabilities and other liabilities 4,798 (2,548) 49,142
Net cash provided by operating activities 285,815 306,280 192,309
Investing Activities      
Purchases of marketable securities — available-for-sale (94,304) (148,448) (127,080)
Sales and maturities of marketable securities — available-for-sale 123,094 117,916 32,821
Purchases of other investments (2,500) 0 0
Maturities of other investments 0 2,500 0
Acquisition, net of cash received (66,199) 0 0
Purchases of property, equipment and software (37,347) (26,847) (31,979)
Other investing activities (10) 195 94
Net cash used in investing activities (77,266) (54,684) (126,144)
Financing Activities      
Proceeds from issuance of common stock for employee stock-based plans 20,790 39,510 23,497
Taxes paid related to the net share settlement of equity awards (73,411) (85,180) (61,023)
Repurchases of common stock, including excise tax (251,181) (199,999) (200,006)
Payment of issuance costs for credit facility 0 (1,109) 0
Net cash used in financing activities (303,802) (246,778) (237,532)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,067) 2,046 (2,136)
Change in cash, cash equivalents and restricted cash (96,320) 6,864 (173,503)
Cash, cash equivalents and restricted cash — Beginning of period 314,002 307,138 480,641
Cash, cash equivalents and restricted cash — End of period 217,682 314,002 307,138
Supplemental Disclosures of Other Cash Flow Information      
Cash paid for income taxes, net 58,194 30,625 50,416
Supplemental Disclosures of Noncash Investing and Financing Activities      
Acquisition holdback consideration not yet paid 13,500 0 0
Purchases of property, equipment and software recorded in accounts payable and accrued liabilities 1,637 914 956
Repurchases of common stock recorded in accounts payable and accrued liabilities 1,249 1,887 2,427
Excise tax accrued on net stock repurchases $ 1,218 $ 282 $ 0
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ORGANIZATION AND DESCRIPTION OF BUSINESS
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION AND DESCRIPTION OF BUSINESS ORGANIZATION AND DESCRIPTION OF BUSINESS
Yelp Inc. was incorporated in Delaware on September 3, 2004. Except where specifically noted or the context otherwise requires, the use of terms such as the “Company” and “Yelp” in these Notes to Consolidated Financial Statements refers to Yelp Inc. and its subsidiaries.
Yelp is a trusted local resource for consumers and a partner in success for businesses of all sizes. Consumers trust Yelp for its extensive ratings and reviews of businesses across a broad range of categories, while businesses advertise on Yelp to reach its large audience of purchase-oriented and generally affluent consumers. Yelp has operations in the United States, United Kingdom, Canada, Ireland and Germany.
Basis of Presentation—The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany balances and transactions have been eliminated upon consolidation.
Certain Significant Risks and Uncertainties—The Company operates in a dynamic industry and, accordingly, may be affected by a variety of factors. For example, the Company’s management believes that changes in any of the following areas could have a significant negative impact on the Company in terms of its future financial position, results of operations or cash flows: adverse macroeconomic conditions, such as the current uncertain and inflationary economy; the Company’s ability to maintain and expand its advertiser base; the success of the Company’s strategy; qualified employees and key personnel; levels of traffic and user engagement on the Company’s platform; industry competition; reliance on search engines and application marketplaces; the quality and reliability of reviews; real or perceived security breaches and the Company’s ability to maintain uninterrupted operation of its network infrastructure; protection of the Company’s brand, reputation and intellectual property; intellectual property infringement and other disputes; and changes in government regulation affecting the Company’s business, among other things.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates—The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Items that require estimates, judgments or assumptions include, but are not limited to, determining variable consideration and identifying the nature and timing of satisfaction of performance obligations, allowance for doubtful accounts and credit losses, valuation of intangible assets acquired in a business combination, fair value and estimated useful lives of long- and indefinite-lived assets, litigation loss contingencies, liabilities related to incurred but not reported insurance claims, fair value and achievement of targets for performance-based restricted stock units (“PRSUs”), and income taxes. These estimates, judgments and assumptions are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from management’s estimates due to macroeconomic uncertainty and other factors.
Foreign Currency Translation—The consolidated financial statements of the Company’s foreign subsidiaries are measured using the local currency as the functional currency. Assets and liabilities of foreign subsidiaries are translated at exchange rates in effect as of the balance sheet date. Revenues and expenses are translated at average exchange rates in effect during the year. Translation adjustments are recorded within accumulated other comprehensive loss, a separate component of stockholders’ equity.
Cash and Cash Equivalents—The Company considers all highly liquid investments, such as treasury bills, commercial paper, certificates of deposit, and money market instruments with maturities of three months or less at the time of acquisition to be cash equivalents. Cash and cash equivalents primarily consist of cash on deposit with banks and amounts held in interest-bearing money market funds that are readily convertible to cash. The fair value of cash and cash equivalents approximates their carrying value.
Marketable Securities—The Company considers highly liquid treasury notes, U.S. agency securities, corporate debt securities, money market funds and other funds with maturities of more than three months to be marketable securities. These securities are classified as short-term marketable securities on the consolidated balance sheets as they represent the investment of cash available for current operations. The Company has a policy that generally requires its securities to be investment grade (i.e., rated ‘A’ or higher by bond rating firms) with the objective of minimizing the potential risk of principal loss. The Company classifies its marketable securities as available-for-sale and determines the classification at the time of purchase based on its investment strategy; it reevaluates such designation at each balance sheet date.
Available-for-sale securities are stated at fair value as of each balance sheet date and are periodically assessed for impairment. An investment is impaired if the fair value of the investment is less than its amortized cost basis. The Company reviews the securities in an unrealized loss position and evaluates whether credit loss exists by considering factors such as historical experience, market data, issuer-specific factors including their credit rating, and current economic conditions. If a credit loss exists, the Company measures the loss by comparing the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. An allowance for credit loss is recorded as a component of other income (expense), net, limited by the amount of unrealized loss. Any remaining unrealized losses are recorded to other comprehensive income (loss).
The Company determines any realized gains or losses on the sale of marketable securities on a specific identification method and records such gains and losses as a component of other income (expense), net. Amortization of premiums and accretion of discounts are included in interest income. If the Company has the intent to sell an available-for-sale security in an unrealized loss position or it is more likely than not that it will be required to sell the security prior to recovery of its amortized cost basis, any previously recorded allowance is reversed and the entire difference between the amortized cost basis of the security and its fair value is recognized on the consolidated statements of operations.
Concentrations of Credit Risk—Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents, marketable securities and other investments, and accounts receivable. The Company places its cash and cash equivalents, marketable securities and other investments with major financial institutions, which management assesses to be of high credit quality, in order to limit the exposure of each investment.
Credit risk with respect to accounts receivable is dispersed due to the Company’s large number of customers. In addition, the Company’s credit risk is mitigated by the relatively short collection period. Collateral is not required for accounts receivable.
Accounts Receivable, Net, and Payment Terms—The timing of revenue recognition may differ from the timing of invoicing to customers. The Company records an accounts receivable balance when revenue is recognized prior to or at the time of invoicing the customer. Payment terms and conditions vary by contract type and the service being provided. For advertising services, the Company typically invoices customers on a monthly basis, one month in arrears, with payment due either at the end of each billing period or up to 30 days after the end of the billing period. For transaction services, the Company collects its commission fee on each transaction either at the time of the transaction or up to 30 days after the end of the billing period. For subscription services, the Company typically invoices customers one month in advance, with payment due at the beginning of each billing period.
Allowance for Doubtful Accounts—The Company maintains an allowance for doubtful accounts receivable. The allowance reflects the Company’s best estimate of probable losses associated with the accounts receivable balance. It is based upon historical experience and loss patterns, the number of days that billings are past due, an evaluation of the potential risk of loss associated with delinquent accounts based on the credit risk of those accounts, known delinquent accounts, as well as current conditions and reasonable and supportable economic forecasts. When new information becomes available that allows the Company to more accurately estimate the allowance, it makes an adjustment, which is considered a change in accounting estimate. The carrying value of accounts receivable approximates their fair value.
Deferred Contract Costs—The Company has determined that certain sales incentive compensation costs are incremental costs to obtain the related contract. These costs are capitalized in the period in which they are incurred and amortized on a straight-line basis over the expected customer life of the associated contract. The Company uses a straight-line basis as it expects the benefit of these costs to be realized uniformly over the amortization period. The amortization periods for contract costs, which extend up to 32 months, were determined based on both qualitative and quantitative factors, including product life cycle attributes and customer retention historical data. For contract costs with amortization periods of less than 12 months, the Company applies a practical expedient to expense such costs as incurred. The Company assesses deferred contract costs for impairment on a quarterly basis. No impairment charges were recorded in the periods presented. Amortized contract costs are
recorded within sales and marketing expense on the consolidated statements of operations. Deferred contract costs are included within other non-current assets on the Company’s consolidated balance sheets (see Note 11, “Other Non-Current Assets”).
Deferred Revenue—The Company records deferred revenue when it has received consideration, or has the right to receive consideration, in advance of the transfer of the performance obligations of the contract to the customer.
Property, Equipment and Software—Property, equipment and software are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are approximately three to five years. Leasehold improvements are amortized over the shorter of the lease term or 10 years. Following the disposition of an asset, the associated net cost is no longer recognized as an asset, and any gain or loss on the disposition is reflected in operating expenses.
Website and Internal-Use Software Development Costs—Costs related to website and internal-use software are primarily related to the Company’s website and mobile app, including support systems. The Company capitalizes its costs to develop software when: preliminary development efforts are successfully completed; management has authorized and committed project funding; and it is probable that the project will be completed and the software will be used as intended. Costs incurred for enhancements that are expected to result in additional material functionality are capitalized and amortized over the estimated useful life of the upgrades. Such costs are amortized on a straight-line basis over the estimated useful life of the related asset, which is generally three years.
The Company capitalizes certain implementation costs incurred related to cloud computing arrangements that are service contracts. Such costs are amortized on a straight-line basis over the term of the associated hosting arrangement plus any reasonably certain renewal period. Any capitalized amounts related to such arrangements are recorded within prepaid expense and other current assets and within non-current assets on the consolidated balance sheets.
Leases—The Company leases its office facilities under operating lease agreements that expire from 2025 to 2031, some of which include options to renew at the Company’s sole discretion. If exercised, such options would extend the lease terms by five years. Additionally, one of the Company’s lease agreements contains the option to terminate the lease, which requires 12 months prior written notice to the landlord. The Company does not have any finance lease agreements.
The Company determines if an arrangement contains a lease at inception. The Company recognizes on its consolidated balance sheets operating lease liabilities representing the present value of future lease payments, and an associated operating lease right-of-use (“ROU”) asset for any operating lease with a term greater than one year. The Company recognizes the amortization of the ROU asset each month within lease expense. The Company elected to use the practical expedient for short-term leases, and therefore does not record operating lease ROU assets or lease liabilities associated with leases with durations of 12 months or less.
When recording the present value of lease liabilities, a discount rate is required. The Company has concluded that the rates implicit in the various operating lease agreements are not readily determinable. As a result, the Company instead uses its incremental borrowing rate, which is calculated based on hypothetical borrowings to fund each respective lease over the lease term, as of the lease commencement date, assuming that borrowings are secured by the various leased properties. The incremental borrowing rates are determined based on an assessment of the Company’s implied credit rating, using ratings scales from reputable rating agencies that consider a number of qualitative and quantitative factors. Market rates are derived as of the lease commencement dates with reference to companies with the same debt rating that operate in a similar industry to the Company.
The Company does not recognize its renewal or termination options as part of its ROU assets and lease liabilities until it is reasonably certain that it will exercise such options.
The Company does not combine lease and non-lease components; its lease agreements provide specific allocations of the Company’s obligations between lease and non-lease components. As a result, the Company is not required to exercise any judgment in determining such allocations.
The Company has subleased certain office facilities under operating lease agreements that expire in 2025 and 2031. The sublease agreements do not contain any options to renew. The Company recognizes a majority of the sublease rental income as a reduction in rent expense on a straight-line basis over the lease period, with any sublease income in excess of the original lease cost recorded to other income, net.
Business Combinations—The Company accounts for acquisitions of entities that consist of inputs and processes that have the ability to contribute to the creation of outputs as business combinations. The Company allocates the purchase price of the acquisition to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over those fair values is recorded as goodwill. Acquisition and integration costs are expensed as incurred. During the measurement period, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. After the measurement period, which could be up to one year after the acquisition date, subsequent adjustments are recorded to the Company’s consolidated statements of operations.
Goodwill—Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The carrying amount of goodwill is reviewed at least annually, or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. The Company has the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is more likely than not that its fair value is less than the carrying amount, or opts not to perform a qualitative assessment, then the Company will compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. No impairment charges associated with goodwill have been recorded by the Company to date.
Intangible Assets—Intangible assets include acquired intangible assets identified through business combinations, which are carried at fair value less accumulated amortization, and purchased intangible assets, which are carried at cost less accumulated amortization. Amortization is recorded over the estimated useful lives of the assets, generally 2 to 12 years. The Company reviews amortizable intangible assets to be held and used for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Determination of recoverability is based on the lowest level of identifiable estimated undiscounted cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss is based on the excess of the carrying value of the asset over its fair value. No material impairment charges have been recorded to date.
Impairment of Long-Lived Assets and Long-Lived Assets to Be Disposed of—The Company evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.
Stock Repurchases—The Company accounts for repurchases of its common stock by recording the cost to repurchase those shares to treasury stock, a separate component of stockholders’ equity. Upon retirement, the carrying amount of treasury stock is reduced with a corresponding reduction to par value of common stock, with any excess of the cost incurred to repurchase shares over their par value recorded as an adjustment to retained earnings (accumulated deficit) on the date of retirement.
Revenue Recognition—The Company generates revenue from the sale of advertising products and other revenue sources, which correspond to the Company’s major product lines. The Company recognizes revenue by applying the following steps: the contract with the customer is identified; the performance obligations in the contract are identified; the transaction price is determined; the transaction price is allocated to the performance obligations in the contract; and revenue is recognized when (or as) the Company satisfies these performance obligations in an amount that reflects the consideration it expects to be entitled to in exchange for those services. The Company applies the portfolio practical expedient to account for the vast majority of contracts with customers in each category of revenue. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the amount of revenue it recognizes is equal to the amount which the Company has a right to invoice.
Contracts with customers can include multiple performance obligations, where the transaction price is allocated to each performance obligation based on its relative standalone selling price (“SSP”). The Company determines SSP based on the prices of the promised goods or services charged when sold separately to customers, which are determined using contractually stated prices. The Company allocates revenue to each of the performance obligations included in a contract with multiple performance obligations at the inception of the contract. The various products and services comprising contracts with multiple performance obligations are typically capable of being both distinct and distinct within the context of the arrangement and are accounted for as separate performance obligations.
For all contracts with customers, estimates and assumptions include determining variable consideration and identifying the nature and timing of satisfaction of performance obligations. The Company may accept lower consideration than the amount
promised per the contract for certain revenue transactions and certain customers may receive cash based incentives, credits or refunds, which are accounted for as variable consideration when estimating the amount of revenue to recognize. The Company estimates these amounts based on the expected amount to be provided to customers and constrains the revenue. The Company believes that there will not be a significant reversal in the amount of cumulative revenue recognized when the uncertainty associated with the estimates of variable consideration is subsequently resolved. For contracts satisfied over time, the Company applies the invoice practical expedient to depict the value transferred to the customer and measure of progress towards completion of its obligations. The Company considers the right to receive consideration from a customer to correspond directly with the value to the customer of its performance completed to date. The Company does not consider the effects of the time value of money as substantially all of the Company’s contracts are invoiced on a monthly basis, one month in arrears.
Revenue is recognized net of any taxes collected from customers, which are remitted to governmental authorities. The Company does not typically refund customers for services once it determines the performance obligations of the contract have been satisfied, but will assess any refund requests from customers and partners on a case by case basis. The Company records an allowance for potential future refunds, which is estimated based on historical trends and recorded as a reduction of net revenue.
Advertising. The Company generates advertising revenue primarily through the display of advertising products on its website and mobile app. These arrangements are evidenced by either written or electronic acceptance of a contract that stipulates the types of advertising to be delivered, the timing and pricing. Performance-based advertising placements are priced on a cost-per-click basis, while impression-based advertising placements are priced on a cost per thousand impressions basis. The Company recognizes revenue from the delivery of performance-based ads and impression-based ads in the period of delivery, in each case net of customer discounts. The Company also offers businesses premium features in connection with their business pages pursuant to fixed monthly fees, and recognizes revenue from such offerings over the service period.
The Company also generates advertising revenue through indirect sales of advertising products, such as through reseller contracts that allow partners to sell Yelp Branded Profiles to their clients, its RepairPal network of partners that promotes certified auto repair shops to consumers and the monetization of remnant advertising inventory through third-party ad networks, and recognizes revenue in the period of delivery, net of customer discounts.
Other Revenue. The Company generates other revenue through non-advertising contracts, including subscription services contracts, such as sales of monthly subscriptions of Yelp Guest Manager, licensing contracts for access to Yelp data, as well as transactions revenue, primarily from revenue-sharing partner contracts. Subscription revenues are recognized ratably over the contract terms beginning on the commencement date of each contract, which is the date the service is made available to the customer. The Company’s transactions platform provides consumers with the ability to place food orders for pickup and delivery through third parties, primarily Grubhub, and complete other transactions directly on Yelp. The Company earns a per-transaction commission fee in accordance with partnership contracts for acting as an agent for these transactions, which it recognizes on a net basis and includes in revenue upon completion of a transaction.
Cost of Revenue—The Company’s cost of revenue primarily consists of credit card processing fees, website infrastructure expense, which includes website hosting costs, and salaries, benefits and stock-based compensation expense for the infrastructure teams responsible for operating the Company’s website and mobile app, and excludes depreciation and amortization expense. Cost of revenue also includes third-party advertising fulfillment costs.
Research and Development—The Company incurs research and development expenses for costs it incurs in research aimed at developing, and in translating the results of such research into, new products and services or significant improvements to existing products or services intended for internal use. Such costs are considered research and development and are expensed as incurred. These expenses primarily consist of employee-related costs (including stock-based compensation) for the Company’s engineers and other employees engaged in the research and development of its products and services, as well as allocated indirect overhead costs. Research and development costs were $310.5 million, $320.6 million and $294.5 million for the years ended December 31, 2024, 2023 and 2022, respectively, and are recorded to costs and expenses on the consolidated statements of operations for those periods, primarily within product development costs.

Stock-Based Compensation—The Company accounts for stock-based employee compensation plans under the fair value recognition and measurement provisions, which require all stock-based payments to employees, including grants of stock options, restricted stock awards, restricted stock units (“RSUs”), PRSUs and issuances under its 2012 Employee Stock Purchase Plan, as amended (“ESPP”), to be measured based on the grant-date fair value of the awards. The Company accounts for forfeitures as they occur.
The Company estimates the fair value of options granted to employees on the grant date using the Black-Scholes-Merton option valuation model. This valuation model for stock-based compensation expense requires the Company to make assumptions and judgments about the variables used in the calculation, including the expected term (weighted-average period of time that the options granted are expected to be outstanding), the expected volatility in the fair market value of the Company’s common stock, a risk-free interest rate and expected dividends. No compensation cost is recorded for options that do not vest. The Company uses the simplified calculation of expected life as it does not have sufficient appropriate historical exercise data on which to base its own estimate. Expected volatility is based on an average of the historical volatilities of the common stock of several entities with characteristics similar to those of the Company. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company recognizes compensation cost related to options using the straight-line method.
The fair value of RSUs is measured using the closing price of the Company’s common stock on the New York Stock Exchange on the grant date. The Company recognizes compensation cost related to RSUs using the straight-line method. No compensation cost is recorded for RSUs that do not vest. The Company settles the employee tax liabilities associated with the vesting of RSUs by withholding a portion of the vested shares and covering such taxes with cash from its balance sheet, which the Company refers to as net share settlement.
The Company has two types of PRSUs outstanding — awards for which the vesting is subject to both a time-based vesting schedule and either (a) a market condition or (b) the achievement of performance goals.
For the awards subject to a market condition, the Company uses a Monte Carlo model to determine the fair value of the PRSUs. The Company recognizes compensation cost related to PRSUs subject to a market condition on a graded basis over the requisite service period if the service condition is met regardless of whether the market condition is satisfied. No compensation cost is recorded if the service condition is not met.
For the awards subject to the achievement of performance goals, compensation costs are recorded when the Company concludes that it is probable that the performance conditions will be achieved. The Company performs an analysis in each reporting period to determine the probability that the performance goals will be met, and recognizes a cumulative catch-up adjustment to compensation cost for changes in its probability assessment in subsequent reporting periods, if required, until the performance period has expired. The fair value of the PRSUs is measured using the closing price of the Company’s common stock on the New York Stock Exchange on the grant date. The Company recognizes compensation cost related to PRSUs subject to the achievement of performance goals on a graded basis over the requisite service period. No compensation cost is recorded if the service condition is not met.
Advertising Expenses—Advertising costs are expensed in the period in which the advertising takes place. Costs of producing advertising are expensed in the period in which production takes place. Total advertising expenses incurred were $87.8 million, $65.7 million and $71.1 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Comprehensive Income (Loss)—Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss), which consists of foreign currency adjustments and unrealized loss on available-for-sale debt securities, net of tax.
Income Taxes—The Company records income taxes using the asset and liability method, which requires the recognition of deferred tax assets (“DTAs”) and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than enactments or changes in the tax law or rates. In assessing the realization of deferred tax assets, the Company considers whether it is more likely than not that all or some portion of deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Valuation allowances are provided to reduce deferred tax assets to the amount that is more likely than not to be realized. In determining the need for a valuation allowance, the weight given to positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. The Company evaluates the ability to realize net deferred tax assets and the related valuation allowance on a quarterly basis.
The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. The Company provides for tax contingencies whenever it is deemed probable that a tax asset has been impaired or a tax liability has been incurred for events such as tax claims or changes in tax laws. Tax contingencies are based upon their technical merits, relative tax law, and the specific facts and circumstances as of each reporting period. Changes in facts and circumstances could result in material changes to the amounts recorded for such tax contingencies.
The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.
Employee Benefit Plan—The Company sponsors a qualified 401(k) defined contribution plan covering eligible employees. Participants may contribute a portion of their annual compensation up to a maximum annual amount set by the Internal Revenue Service (“IRS”). Employer contributions under this plan were $14.9 million, $9.7 million and $8.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Insurance—The Company is self-insured for certain employee benefits including medical, dental and vision; however, the Company obtains third-party excess insurance coverage to limit its exposure to certain claims. Liabilities associated with these benefits include estimates of both claims filed and losses incurred but not yet reported. The Company utilizes valuations provided by reputable, independent third-party actuaries. The Company’s self-insured liabilities are included on the consolidated balance sheets within accounts payable and accrued liabilities.
Recently Adopted Accounting Pronouncements
In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The Company adopted ASU 2023-07 retrospectively in the year ended December 31, 2024. See Note 19, “Information about Segment, Revenue and Geographic Areas,” for further details.
Recent Accounting Pronouncements Not Yet Effective

In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires the disclosure of specific categories in the rate reconciliation and greater disaggregation for income taxes paid. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024 and should be adopted prospectively with the option to be adopted retrospectively. The Company is currently evaluating the impact of ASU 2023-09 on its related disclosures.
In November 2024, the FASB issued Accounting Standards Update No. 2024-03, “Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency regarding the expense captions presented on the consolidated statements of operations. ASU 2024-03 will be effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027 and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact of ASU 2024-03 on its related disclosures.
v3.25.0.1
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
 12 Months Ended
Dec. 31, 2024
Cash and Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Cash, cash equivalents and restricted cash as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Cash
$87,056 $105,959 
Cash equivalents
130,269 207,952 
Total cash and cash equivalents
217,325 313,911 
Restricted cash
357 91 
Total cash, cash equivalents and restricted cash
$217,682 $314,002 
Restricted cash is included in other non-current assets on the Company’s consolidated balance sheets.
v3.25.0.1
MARKETABLE SECURITIES
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES
Short-term investments and certain cash equivalents consist of investments in debt securities that are classified as available-for-sale. The amortized cost, gross unrealized gains and losses and fair value of investments as of December 31, 2024 and 2023 were as follows (in thousands):
December 31, 2024
Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Short-term marketable securities:
Certificates of deposit$1,282 $— $— $1,282 
Commercial paper8,867 — — 8,867 
Corporate bonds38,505 42 (64)38,483 
Agency bonds1,237 1 — 1,238 
U.S. government securities50,554 177 (20)50,711 
Total short-term marketable securities$100,445 $220 $(84)$100,581 
December 31, 2023
Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Cash equivalents:
U.S. government securities$1,612 $— $— $1,612 
Total cash equivalents1,612 — — 1,612 
Short-term marketable securities:
Certificates of deposit1,537 — — 1,537 
Commercial paper1,058 — — 1,058 
Corporate bonds19,833 16 (92)19,757 
Agency bonds17,660 4 (17)17,647 
U.S. government securities87,414 241 (169)87,486 
Total short-term marketable securities127,502 261 (278)127,485 
Total$129,114 $261 $(278)$129,097 
The following tables present gross unrealized losses and fair values for those securities that were in an unrealized loss position as of December 31, 2024 and 2023, aggregated by investment category and the length of time that the individual securities had been in a continuous loss position (in thousands):
December 31, 2024
Less Than 12 months12 Months or GreaterTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Corporate bonds$18,285 $(64)$— $— $18,285 $(64)
U.S. government securities2,038 (20)— — 2,038 (20)
Total$20,323 $(84)$— $— $20,323 $(84)
December 31, 2023
Less Than 12 months12 Months or GreaterTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Corporate bonds$2,130 $(9)$12,104 $(83)$14,234 $(92)
Agency bonds14,409 (17)— — 14,409 (17)
U.S. government securities27,763 (135)6,231 (34)33,994 (169)
Total$44,302 $(161)$18,335 $(117)$62,637 $(278)
For the years ended December 31, 2024, 2023 and 2022, the Company did not recognize any credit loss related to available-for-sale marketable securities.
The contractual maturities for marketable securities classified as available-for-sale as of December 31, 2024 were as follows (in thousands):
Amortized CostFair Value
Due in one year or less$62,392 $62,532 
Due in one to five years38,053 38,049 
Total$100,445 $100,581 
v3.25.0.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The Company’s investments in money market accounts are recorded as cash equivalents at fair value on the consolidated balance sheets. Additionally, the Company carries its available-for-sale debt securities at fair value. See Note 4, “Marketable Securities,” for further details.
The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value in the following hierarchy:
Level 1—Observable inputs, such as quoted prices in active markets,
Level 2—Inputs other than quoted prices in active markets that are observable either directly or indirectly, or
Level 3—Unobservable inputs in which there are little or no market data, which require the Company to develop its own assumptions.
This hierarchy requires the Company to use observable market data, when available, to minimize the use of unobservable inputs when determining fair value. The Company’s money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices in active markets. The Company’s certificates of deposit, commercial paper, corporate bonds, agency bonds and U.S. government securities are classified within Level 2 of the fair value hierarchy because they have been valued using inputs other than quoted prices in active markets that are observable directly or indirectly.    
The following table represents the fair value of the Company’s financial instruments, including those measured at fair value on a recurring basis, as of December 31, 2024 and 2023 (in thousands):
December 31, 2024December 31, 2023
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents:
Money market funds$102,793 $— $— $102,793 $180,270 $— $— $180,270 
U.S. government securities— — — — — 1,612 — 1,612 
Marketable securities:
Certificates of deposit— 1,282 — 1,282 — 1,537 — 1,537 
Commercial paper— 8,867 — 8,867 — 1,058 — 1,058 
Corporate bonds— 38,483 — 38,483 — 19,757 — 19,757 
Agency bonds— 1,238 — 1,238 — 17,647 — 17,647 
U.S. government securities— 50,711 — 50,711 — 87,486 — 87,486 
Other investments:
Certificates of deposit— 10,000 — 10,000 — 7,500 — 7,500 
Total cash equivalents, marketable securities and other investments$102,793 $110,581 $— $213,374 $180,270 $136,597 $— $316,867 
The certificates of deposit that are categorized as other investments with original maturities of one year or less are reflected in prepaid expenses and other current assets on the consolidated balance sheets. Those with original maturities of more than one year are reflected in other non-current assets.
Certain long- and indefinite-lived assets are recognized at fair value on a nonrecurring basis, including assets that are written down as a result of an impairment. The Company recognized impairment charges related to ROU assets and leasehold improvements associated with certain office space that it subleased or abandoned during the years ended December 31, 2024, 2023 and 2022. See Note 10, “Leases,” for further details. The Company estimated the fair value of these assets as of the impairment dates using an income approach based on discounted cash flows expected to be received for the subleased or abandoned properties. This valuation technique relied on certain assumptions made by management based on both internal and external data, such as the incremental borrowing rates used to discount these cash flows to their present values. As a result, these assets are classified within Level 3 of the fair value hierarchy.
v3.25.0.1
PREPAID EXPENSES AND OTHER CURRENT ASSETS
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS PREPAID EXPENSES AND OTHER CURRENT ASSETS
Prepaid expenses and other current assets as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Prepaid expenses$18,615 $14,922 
Certificates of deposit10,000 5,000 
Other current assets15,033 16,751 
Total prepaid expenses and other current assets$43,648 $36,673 
As of December 31, 2024, other current assets primarily consisted of income taxes receivable, deferred costs related to subleases as well as unsettled share repurchases and short-term deposits.
v3.25.0.1
PROPERTY, EQUIPMENT AND SOFTWARE, NET
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, EQUIPMENT AND SOFTWARE, NET PROPERTY, EQUIPMENT AND SOFTWARE, NET
The Company capitalized $43.7 million, $30.0 million and $28.4 million in website and internal-use software costs during the years ended December 31, 2024, 2023 and 2022, respectively, which are included in property, equipment and software, net on the consolidated balance sheets. Amortization expense related to capitalized website and internal-use software was $28.6 million, $28.7 million and $29.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company wrote off $2.6 million, $1.3 million and $1.0 million of capitalized website and internal-use software costs in the years ended December 31, 2024, 2023 and 2022, respectively, which are included in product development expenses on its consolidated statements of operations.
Property, equipment and software, net as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Capitalized website and internal-use software development costs$299,177 $258,059 
Leasehold improvements(1)
55,875 57,403 
Computer equipment27,272 50,014 
Furniture and fixtures8,911 10,336 
Telecommunication262 4,175 
Software1,104 1,113 
Total392,601 381,100 
Less accumulated depreciation and amortization(1)
(316,932)(312,416)
Property, equipment and software, net$75,669 $68,684 
(1) Leasehold improvements, net was reduced to reflect an impairment of $1.3 million recorded during the year ended December 31, 2024 as a result of the Company’s subleases of certain office space. See Note 10, “Leases,” for further details.
Depreciation and amortization expense related to property, equipment and software for the years ended December 31, 2024, 2023 and 2022 was $37.6 million, $40.8 million and $43.2 million, respectively.
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The Company’s goodwill is the result of its acquisitions of other businesses and represents the excess of purchase consideration over the fair value of assets acquired and liabilities assumed. The Company performed its annual goodwill impairment analysis on August 31, 2024 and concluded that goodwill was not impaired, as the fair value of the reporting unit exceeded its carrying value. Additionally, no triggering events were identified as of December 31, 2024 that would more likely than not reduce the fair value of goodwill below its carrying value.
The changes in the carrying amounts of goodwill during the years ended December 31, 2024 and 2023 were as follows (in thousands):
Year Ended December 31,
20242023
Balance, beginning of period$103,886 $102,328 
Goodwill acquired29,769 — 
Effect of currency translation(2,675)1,558 
Balance, end of period$130,980 $103,886 
Intangible assets that were not fully amortized as of December 31, 2024 and 2023 consisted of the following (dollars in thousands):
December 31, 2024
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Weighted
Average
Remaining
Life
Business relationships$45,918 $(7,759)$38,159 8.3 years
Developed technology22,309 (8,250)14,059 4.3 years
Licensing agreements6,141 (2,808)3,333 5.2 years
Domain and data licenses3,194 (2,912)282 4.4 years
Trademarks3,877 (923)2,954 10.8 years
Total $81,439 $(22,652)$58,787 
December 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Weighted
Average
Remaining
Life
Business relationships$9,918 $(6,258)$3,660 5.2 years
Developed technology7,709 (7,709)— 0.0 years
Licensing agreements6,129 (2,151)3,978 6.2 years
Domain and data licenses2,869 (2,869)— 0.0 years
Trademarks877 (877)— 0.0 years
Total$27,502 $(19,864)$7,638 
Amortization expense related to intangible assets for the years ended December 31, 2024, 2023 and 2022 was $2.8 million, $1.4 million and $1.7 million, respectively.

As of December 31, 2024, estimated future amortization expense was as follows (in thousands):
2025$9,857 
20269,833 
20279,833 
20289,437 
20294,668 
Thereafter15,159 
   Total amortization $58,787 
v3.25.0.1
ACQUISITION
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
ACQUISITION ACQUISITION
On November 26, 2024, the Company acquired auto services platform RepairPal, Inc. (“RepairPal”). The key purpose underlying the Company’s acquisition of RepairPal was to accelerate its efforts in Services categories by expanding its offerings in the auto services advertising vertical.
In connection with the acquisition, all outstanding capital stock, options and warrants to purchase capital stock of RepairPal were converted into the right to receive an aggregate of $80.0 million in cash, subject to customary post-closing adjustments based on net working capital, indebtedness and third-party expenses. The preliminary total purchase consideration was $81.2 million and reflected a $1.2 million adjustment from the contractual purchase price. Of the total amount of consideration, the following amounts are being held back to secure the Company’s right of indemnity under the Agreement and Plan of Merger: (1) $8.0 million is being held back for a 15-month period after closing; (2) $2.0 million is being held back for a 24-month period after closing; and (3) $3.5 million is being held back until 30 days following the final, non-appealable resolution of certain legal matters. The Company recorded the $13.5 million of holdbacks in other long-term liabilities on the consolidated balance sheets.
The acquisition was accounted for as a business combination in accordance with Accounting Standards Codification Topic 805, “Business Combinations,” with the results of RepairPal’s operations included in the Company’s consolidated financial statements from November 26, 2024. The Company’s allocation of the purchase price is preliminary as the fair value of net assets acquired and the effects of any net working capital adjustments are still being finalized. Any material measurement period adjustments will be recorded in the period in which the adjustment is identified.
The preliminary purchase price allocation, subject to finalization during the measurement period, is as follows (in thousands):
November 26, 2024
Fair value of purchase consideration:
Cash:
Distributed to RepairPal stockholders$63,935 
Paid on behalf of RepairPal stockholders3,812 
Holdbacks13,500 
Total purchase consideration$81,247 
Fair value of net assets acquired:
Cash and cash equivalents$1,548 
Accounts receivable3,759 
Intangibles53,600 
Goodwill29,769 
Other assets570 
Total assets acquired89,246 
Accounts payable and accrued liabilities(3,300)
Deferred tax liability(4,648)
Other liabilities(51)
Total liabilities assumed(7,999)
Net assets acquired$81,247 
The amounts assigned to each class of intangible assets acquired and their estimated useful lives are as follows:
Intangible Asset TypeAmount AssignedUseful Life
Business relationships$36,000 8.8 years
Developed technology14,600 4.5 years
Trademarks3,000 11.0 years
Weighted average7.7 years
The Company estimated the fair value of intangible assets acquired using an income approach. Significant assumptions used include forecasted revenue and expenses, customer attrition rate, royalty rates and discount rates. The fair value measurements were primarily based on significant inputs that are not observable in the market and thus represent a Level 3 measurement within the fair value hierarchy. The intangible assets are amortized on a straight-line basis, which reflects the pattern in which the economic benefits of the intangible assets are being utilized. The goodwill results from expected synergies between the Company and RepairPal. None of the goodwill is deductible for tax purposes.
For the year ended December 31, 2024, the Company recorded acquisition and integration costs of approximately $1.3 million, which were included in general and administrative expenses in the accompanying consolidated statement of operations.
The Company has not presented the supplemental pro forma information for revenue and earnings related to the acquisition, as the acquisition is not material to the Company’s consolidated financial statements during the periods presented.
v3.25.0.1
LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES LEASES
The components of lease cost, net for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):
Year Ended December 31,
202420232022
Operating lease cost$18,617 $33,694 $40,819 
Short-term lease cost (12 months or less)392 396 1,065 
Sublease income(13,873)(13,551)(12,152)
   Total lease cost, net$5,136 $20,539 $29,732 
The Company’s leases and subleases do not include any variable lease payments, residual value guarantees, related-party leases, or restrictions or covenants that would limit or prevent the Company from exercising its right to obtain substantially all of the economic benefits from use of the respective assets during the lease term.
Supplemental cash flow information related to leases for the years ended December 31, 2024, 2023 and 2022 was as follows (in thousands):
Year Ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$42,725 $45,410 $49,900 
As of December 31, 2024, maturities of lease liabilities were as follows (in thousands):
2025$22,189 
20267,254 
20277,140 
20285,836 
20292,661 
Thereafter1,533 
Total minimum lease payments46,613 
Less imputed interest(3,464)
Present value of lease liabilities$43,149 
As of December 31, 2024 and 2023, the weighted-average remaining lease term and weighted-average discount rate were as follows:
December 31, 2024December 31, 2023
Weighted-average remaining lease term (years) — operating leases3.33.7
Weighted-average discount rate — operating leases5.1 %5.1 %
During the year ended December 31, 2024, the Company determined that it was reasonably certain it would exercise the early termination option included in the lease for certain office space in San Francisco. As a result, the Company remeasured the associated lease liability and ROU asset in accordance with Accounting Standards Codification Topic 842 and reduced each by $4.6 million during the year.
Additionally, during the year ended December 31, 2024, the Company subleased certain office space in San Francisco and Toronto. The Company abandoned certain office space in San Francisco and New York during the year ended December 31, 2023 and entered into a sublease agreement for a portion of its office space in New York during the year ended December 31, 2022. The Company evaluated the associated ROU assets and leasehold improvements for impairment as a result of the subleases and abandonments in accordance with Accounting Standards Codification Topic 360, “Property, Plant, and
Equipment,” because the change in circumstances indicated that the carrying amount of such assets may not be recoverable. The Company compared the future undiscounted cash flows to the carrying amounts of the respective ROU assets and leasehold improvements and determined that an impairment existed.
The Company compared the carrying values of the impacted assets to the fair values to determine the impairment amounts related to the subleases and abandonments. The Company recognized impairment charges of $5.9 million, $23.6 million and $10.5 million during the years ended December 31, 2024, 2023 and 2022, respectively, which are included in general and administrative expenses on its consolidated statements of operations. The impairment charges during the year ended December 31, 2024 reduced the carrying amounts of the ROU assets and leasehold improvements by $4.6 million and $1.3 million, respectively. The impairment charge during the year ended December 31, 2023 reduced the carrying amount of the ROU asset and leasehold improvements by $21.3 million and $2.3 million, respectively. The impairment charge during the year ended December 31, 2022 reduced the carrying amount of the ROU assets and leasehold improvements by $9.0 million and $1.5 million, respectively. For more information on the fair values of the ROU assets and leasehold improvements used in the impairment analysis, see Note 5, “Fair Value Measurements.”
v3.25.0.1
OTHER NON-CURRENT ASSETS
 12 Months Ended
Dec. 31, 2024
Other Assets, Noncurrent Disclosure [Abstract]  
OTHER NON-CURRENT ASSETS OTHER NON-CURRENT ASSETS
Other non-current assets as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Deferred tax assets$139,588 $119,449 
Deferred contract costs24,156 28,203 
Other non-current assets13,396 14,074 
Total other non-current assets$177,140 $161,726 
v3.25.0.1
CONTRACT BALANCES
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
CONTRACT BALANCES CONTRACT BALANCES
The changes in the allowance for doubtful accounts during the years ended December 31, 2024, 2023 and 2022, were as follows (in thousands):
Year Ended December 31,
202420232022
Balance, beginning of period$13,768 $9,277 $7,153 
Add: provision for doubtful accounts45,614 40,702 25,006 
Less: write-offs, net of recoveries(44,081)(36,211)(22,882)
Balance, end of period$15,301 $13,768 $9,277 
In calculating the allowance for doubtful accounts as of December 31, 2024, 2023 and 2022, the Company considered expectations of probable credit losses, including those associated with the COVID-19 pandemic for 2022, based on observed trends in cancellations, observed changes in the credit risk of specific customers, the impact of anticipated closures and bankruptcies using forecasted economic indicators in addition to historical experience and loss patterns during periods of macroeconomic uncertainty. The increases in the provision for doubtful accounts and write-offs, net of recoveries in the years ended December 31, 2024 and 2023 as compared to the prior-year periods were a result of the ordinary course of business, reflecting the increases in net revenue as well as higher aggregate customer delinquencies.
Contract liabilities consist of deferred revenue, which is recorded on the consolidated balance sheets when the Company has received consideration, or has the right to receive consideration, in advance of transferring the performance obligations under the contract to the customer.
The changes in short-term deferred revenue during the years ended December 31, 2024 and 2023 were as follows (in thousands):
Year Ended December 31,
20242023
Balance, beginning of period$3,821 $5,200 
Less: recognition of deferred revenue from beginning balance(3,527)(4,936)
Add: net increase in current period contract liabilities2,679 3,557 
Balance, end of period$2,973 $3,821 
The majority of the Company’s deferred revenue balance as of December 31, 2024 is classified as short-term and is expected to be recognized as revenue in the subsequent three-month period ending March 31, 2025. An immaterial amount of long-term deferred revenue is included in other long-term liabilities as of December 31, 2024. No other contract assets or liabilities were recorded on the Company’s consolidated balance sheets as of December 31, 2024 and 2023.
v3.25.0.1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Accounts payable and accrued liabilities as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Accounts payable$11,904 $11,868 
Employee-related liabilities85,396 79,081 
Taxes payable9,528 1,920 
Accrued cost of revenue8,559 8,133 
Accrued legal settlements98 15,085 
Other accrued liabilities15,837 16,722 
Total accounts payable and accrued liabilities$131,322 $132,809 
As of December 31, 2024, other accrued liabilities primarily consisted of accrued operating expenses, reserve for chargebacks and unsettled share repurchases.
v3.25.0.1
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Legal Proceedings
CIPA Action
On October 12, 2016, a putative class action lawsuit asserting claims under the California Invasion of Privacy Act was filed against the Company (the “CIPA Action”) in the Superior Court of California for the County of San Francisco (the “Superior Court”), in which the plaintiff sought statutory damages and other relief based on alleged unlawful call recording. The Company filed a motion for summary judgment on the basis that it had never recorded the plaintiff, which the Superior Court granted. The plaintiff appealed and, in October 2020, the California Court of Appeal for the First District (the “Court of Appeal”) reversed the decision of the Superior Court, holding that the recording of only the Company’s consenting sales representatives could violate CIPA, even if the plaintiff was not recorded. The California Supreme Court subsequently denied review of the Court of Appeal’s decision and the case was remanded to the Superior Court. On January 18, 2023, the Superior Court granted the plaintiffs’ motion for class certification. In February 2023, the Company filed a petition for a writ with the Court of Appeal seeking reversal of the Superior Court’s class certification decision. The Court of Appeal summarily denied the writ petition on May 25, 2023, following which the Company filed a petition with the California Supreme Court on June 2, 2023 seeking an order directing the Court of Appeal to review the merits of the Company’s writ petition. On July 17, 2023, the Company reached a preliminary agreement with the plaintiffs to settle the CIPA Action for $15.0 million, which payment the Company expected to be partially funded by insurance proceeds. The parties executed a settlement agreement, which the plaintiff presented to the Superior Court for approval. On April 10, 2024, the Superior Court granted final approval of the settlement, which resolved all claims asserted against the Company in the CIPA Action without any liability or wrongdoing attributed to it.
The Company assesses, in conjunction with its legal counsel, the need to record a liability for litigation and contingencies, which it will accrue when it believes a loss is probable and the amount can be reasonably estimated. As of March 31, 2024, the Company believed the loss was probable and the payment amount of $15.0 million represented a reasonable estimate of loss contingency. The Company recorded a $4.0 million accrual for loss contingency related to the CIPA Action as of December 31, 2022 and an additional accrual of $11.0 million during 2023, resulting in a $15.0 million accrual for loss contingency within accounts payable and accrued liabilities on the Company’s condensed consolidated balance sheet as of March 31, 2024. The accrual for loss contingency was released upon the settlement payment of $15.0 million in the three months ended June 30, 2024. The receivable for loss recovery that was recorded in 2023 for the anticipated insurance proceeds of $3.9 million was released upon receipt of the proceeds on January 18, 2024.
Other Legal Proceedings
The Company is subject to other legal proceedings arising in the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, the Company currently does not believe that the final outcome of any of these other matters will have a material effect on the Company’s business, financial position, results of operations or cash flows.
Indemnification Agreements
In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to customers, vendors, lessors, business partners and other parties with respect to certain matters, including, but not limited to, losses arising out of the breach of such agreements, services to be provided by the Company or from intellectual property infringement claims made by third parties.
In addition, the Company has entered into indemnification agreements with directors and certain officers and employees that will require the Company to, among other things, indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers or employees.
While the outcome of claims cannot be predicted with certainty, the Company does not believe that the outcome of any claims under the indemnification arrangements will have a material effect on the Company’s business, financial position, results of operations or cash flows.
Revolving Credit Facility
On April 28, 2023, the Company entered into a Revolving Credit and Guaranty Agreement with certain lenders and JPMorgan Chase Bank, N.A., as administrative and collateral agent, which provides for a five-year $125.0 million senior secured revolving credit facility (the “credit facility”). The credit facility includes a letter of credit sub-limit of $25.0 million, a bilateral letter of credit facility of $25.0 million and an accordion option, which, if exercised, would allow the Company to increase the aggregate commitments by up to $250.0 million, plus additional amounts if the Company is able to satisfy a leverage test, subject to certain conditions. The commitments under the credit facility expire on April 28, 2028.
Loans under the credit facility bear interest, at the Company’s election, at either (a) an adjusted term Secured Overnight Financing Rate plus 0.10% plus a margin of 1.25% - 1.50%, depending on the Company’s total leverage ratio, or (b) an alternative base rate plus a margin of 0.25% - 0.50%, depending on the Company’s total leverage ratio. The Company is required to pay a commitment fee on the undrawn portion of the aggregate commitments that accrues at 0.20% - 0.25% per annum, depending on the Company’s total leverage ratio, as well as a letter of credit fee on any outstanding letters of credit that accrues at 1.25% - 1.50% per annum, depending on the Company’s total leverage ratio.
The credit facility contains customary conditions to borrowing, events of default and covenants, including covenants that restrict the Company’s ability to incur indebtedness, grant liens, make distributions, pay dividends, repurchase shares, make investments and engage in transactions with the Company’s affiliates, in each case subject to certain exceptions. The credit facility also requires the Company to maintain a total leverage ratio of no greater than 3.75 to 1.00, subject to an increase up to 4.25 to 1.00 for a certain period following significant acquisitions, and an interest coverage ratio of no less than 3.00 to 1.00. The obligations under the credit facility are secured by liens on substantially all of the Company’s domestic assets, including certain domestic intellectual property assets and the equity of its domestic subsidiaries, as well as a portion of the equity interests the Company holds directly in its foreign subsidiaries.
As of December 31, 2024, the Company had $14.0 million of letters of credit outstanding under the credit facility sub-limit. The letters of credit are primarily related to lease agreements for certain office locations and are required to be maintained and issued to the landlords of each facility. No loans were outstanding under the credit facility and the Company was in compliance with all conditions and covenants thereunder as of December 31, 2024.
v3.25.0.1
STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
The following table presents the number of shares authorized and issued as of December 31, 2024 and 2023 (in thousands):
December 31, 2024December 31, 2023
Shares
Authorized		Shares
Issued		Shares
Authorized		Shares
Issued
Common stock, $0.000001 par value
200,000 65,792 200,000 68,864 
Undesignated preferred stock10,000 — 10,000 — 
Stock Repurchase Program
As of December 31, 2024, the Company’s Board of Directors had authorized the Company to repurchase up to an aggregate of $1.95 billion of its outstanding common stock, $330.8 million of which remained available as of December 31, 2024. The Company may purchase shares at management’s discretion in the open market, in privately negotiated transactions, in transactions structured through investment banking institutions or a combination of the foregoing.
During the year ended December 31, 2024, the Company repurchased on the open market 6,686,518 shares for an aggregate purchase price of $250.9 million and retired 6,585,658 shares. As of December 31, 2024, the Company had a treasury stock balance of 100,860 shares, which were excluded from its outstanding share count as of such date and subsequently retired in January 2025.
During the year ended December 31, 2023, the Company repurchased on the open market and subsequently retired 5,626,851 shares for an aggregate purchase price of $200.0 million. Although there were no shares of treasury stock as of December 31, 2023, the treasury stock balance included an immaterial amount of excise tax imposed by the Inflation Reduction Act of 2022 on stock repurchases, net of shares issued, during the year.
Common Stock Reserved for Future Issuance
As of December 31, 2024, the Company had reserved shares of common stock for future issuances in connection with the following (in thousands):
Number of Shares
Stock options outstanding2,464 
RSUs and PRSUs outstanding6,715 
Available for future equity award grants11,946 
Available for future ESPP offerings1,468 
Total reserved for future issuance22,593 
Equity Incentive Plans
The Company has outstanding awards under its 2012 Equity Incentive Plan, as amended (the “2012 Plan”). Under the 2012 Plan, the Company has the ability to issue incentive stock options, non-statutory stock options, stock appreciation rights, RSUs, restricted stock awards, performance units and performance shares. Additionally, the 2012 Plan provides for the grant of performance cash awards to employees, directors and consultants.
On February 6, 2023, the Company adopted the Yelp Inc. 2023 Inducement Award Plan (the “Inducement Plan”), pursuant to which it reserved 1,400,000 shares of its common stock for issuance to individuals who were not previously employees of the Company, or who are returning to employment following a bona fide period of non-employment with the Company, as an inducement material to such persons entering into employment with the Company, in accordance with New York Stock Exchange Listed Company Manual Rule 303A.08. Under the Inducement Plan, the Company has the ability to issue non-statutory stock options, stock appreciation rights, RSUs, restricted stock awards, PRSUs and performance shares. The Inducement Plan also provides for the grant of performance cash awards to individuals eligible to receive awards under the Inducement Plan.
Stock Options
The Company grants stock options at a price per share not less than the fair value of a share of the Company’s common stock on the grant date. Options generally vest over a four-year period, on one of two schedules: (a) 25% vesting at the end of one year and the remaining shares vesting monthly thereafter or (b) ratably on a monthly basis. Options granted are generally exercisable for contractual terms of up to 10 years. The Company issues new shares when stock options are exercised.
There were no options granted during the years ended December 31, 2024 and 2023. For the year ended December 31, 2022, the weighted-average assumptions used for the Black-Scholes-Merton option valuation model were as follows:
Dividend yield— 
Annual risk-free rate3.0 %
Expected volatility50.4 %
Expected term (years)6.0
A summary of stock option activity for the year ended December 31, 2024 is as follows:
Number of
Shares (in thousands)		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term (in
years)		Aggregate
Intrinsic
Value (in
thousands)
Outstanding at December 31, 20232,543 $34.94 3.6$33,100 
Exercised(37)33.44 
Canceled(42)65.40 
Outstanding at December 31, 20242,464 $34.44 2.6$14,407 
Options vested and exercisable at December 31, 20242,453 $34.43 2.6$14,379 
Aggregate intrinsic value represents the difference between the closing price of the Company’s common stock as quoted on the New York Stock Exchange on a given date and the exercise price of outstanding, in-the-money options. The total intrinsic value of options exercised was approximately $0.3 million, $6.5 million and $3.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.
The weighted-average grant date fair value of options granted was $16.07 per share for the year ended December 31, 2022.
As of December 31, 2024, total unrecognized compensation costs related to nonvested stock options were approximately $0.2 million, which the Company expects to recognize over a weighted-average time period of 0.8 years.
RSUs
RSUs generally vest over a four-year period, on one of two schedules: (a) 25% vesting at the end of one year and the remaining vesting quarterly or annually thereafter or (b) ratably on a quarterly basis.
RSUs include PRSUs that are subject to either (a) a market condition or (b) the achievement of performance goals. PRSUs may also be subject to a time-based vesting schedule of quarterly over four years (the “Time-Based Vesting Schedule”). For PRSUs subject to a market condition, the Company recognizes expense from the date of grant. For PRSUs subject to the
achievement of performance goals, the Company recognizes expense when it is probable that the performance condition will be achieved.
The Company granted PRSUs subject to market conditions in 2022, 2023 and 2024. The shares underlying each of these PRSU awards vest based on the relative performance of the Company’s total stockholder return (“TSR”) over a three-year period. A percentage of the target number of shares underlying each award, ranging from zero to 200%, will vest based on the percentile rank of the Company’s TSR relative to that of the other companies in the Russell 2000 Index over a three-year period beginning January 1 of the year of grant (the “Performance Period”). The Company’s TSR, as well as the TSR of the other companies in the Russell 2000 Index, will be calculated based on the average closing price of each company’s stock over the last 20 trading days of the Performance Period compared to the average closing price over the first 20 trading days of the Performance Period. Any shares that become eligible to vest based on the Company’s level of achievement of the market goal will fully vest on or following certification of the Company’s performance on February 20, 2025, 2026 and 2027, respectively, or, if certification occurs following such date, March 15, 2025, 2026 and 2027, respectively, for the 2022, 2023 and 2024 grants, subject to the applicable employee’s continued service as of such vesting dates.
For PRSUs subject to the achievement of performance goals, a percentage of the target number of shares, ranging from zero to 200%, will become eligible to vest based on the Company’s level of achievement of certain financial targets, subject to the Time-Based Vesting Schedule. The shares subject to the achievement of performance goals become eligible to vest once the achievement against the financial targets is known, which will be no later than March of the year following the year in which the PRSUs are granted. On the quarterly vest date immediately following such determination (or a vest date otherwise specified in the agreement), the eligible shares, if any, will vest to the extent that the employee has met the Time-Based Vesting Schedule as of such date. Thereafter, the eligible shares will continue to vest in accordance with the Time-Based Vesting Schedule, subject to the applicable employee’s continued service as of each such vesting date. The Company performed an analysis as of December 31, 2024 to assess the probability of achievement of the PRSU financial targets and, as a result, recorded compensation costs in the year ended December 31, 2024 for the PRSUs granted in 2024 that it expected to vest.
As the PRSU activity during the year ended December 31, 2024 was not material, it is presented together with the RSU activity in the table below. A summary of RSU and PRSU activity for the year ended December 31, 2024 is as follows (in thousands, except per share amounts):
Number of
Shares
Weighted-
Average Grant
Date Fair Value
Nonvested at December 31, 20239,961 $32.61 
Granted2,290 43.79 
Vested(1)
(4,902)32.87 
Canceled(634)34.03 
Nonvested at December 31, 2024(2)
6,715 $36.10 
(1)    Includes 2,039,720 shares that vested but were not issued due to the Company’s use of net share settlement for payment of employee taxes.
(2)    Includes 822,408 PRSUs.
The aggregate fair value as of the vest date of RSUs and PRSUs that vested during the years ended December 31, 2024, 2023 and 2022 was $177.3 million, $207.4 million and $155.0 million, respectively. As of December 31, 2024, the Company had approximately $207.5 million of unrecognized stock-based compensation expense related to RSUs and PRSUs, which it expects to recognize over the remaining weighted-average vesting period of approximately 1.8 years.
Employee Stock Purchase Plan
The ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15% of their eligible compensation, subject to any plan limitations, during designated six-month offering periods. At the end of each offering period, employees are able to purchase shares at 85% of the fair market value of the Company’s common stock on the last day of the offering period, based on the closing sales price of the Company’s common stock as quoted on the New York Stock Exchange on such date.
During the years ended December 31, 2024, 2023 and 2022, there were 614,339, 604,111 and 627,485 shares purchased by employees under the ESPP at a weighted-average purchase price per share of $31.82, $31.79 and $25.55, respectively. The Company recognized stock-based compensation expense related to the ESPP of $3.3 million during each of the years ended December 31, 2024 and 2023, and $2.8 million during the year ended December 31, 2022.
Stock-Based Compensation
The following table summarizes the effects of stock-based compensation expense related to stock-based awards on the consolidated statements of operations during the periods presented (in thousands):
Year Ended December 31,
202420232022
Cost of revenue$5,209 $5,274 $4,761 
Sales and marketing33,436 35,187 33,621 
Product development85,510 97,515 86,871 
General and administrative34,038 35,475 30,837 
Total stock-based compensation recorded to income before incomes taxes158,193 173,451 156,090 
Benefit from income taxes(29,409)(34,474)(33,792)
Total stock-based compensation recorded to net income$128,784 $138,977 $122,298 
During the years ended December 31, 2024, 2023 and 2022, the Company capitalized $11.7 million, $9.7 million and $8.9 million, respectively, of stock-based compensation expense as website and internal-use software development costs and, to a lesser extent, implementation costs incurred related to cloud computing arrangements that are service contracts.
v3.25.0.1
OTHER INCOME, NET
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
OTHER INCOME, NET OTHER INCOME, NET
Other income, net for the years ended December 31, 2024, 2023 and 2022 consisted of the following (in thousands):
Year Ended December 31,
202420232022
Interest income, net$20,921 $19,571 $5,762 
Transaction (loss) gain on foreign exchange, net(550)49 (130)
Release of nonrecurring tax reserve(1)
3,102 — — 
Other non-operating income, net8,442 6,419 2,793 
Other income, net$31,915 $26,039 $8,425 
(1)    Represents the release of a reserve related to a one-time payroll tax credit.
v3.25.0.1
INCOME TAXES
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The following table presents domestic and foreign components of income before income taxes for the periods presented (in thousands):
Year Ended December 31,
202420232022
United States$203,177 $131,459 $89,215 
Foreign(20,217)(26,377)(22,437)
Total income before income taxes$182,960 $105,082 $66,778 
The income tax provision is composed of the following (in thousands):
Year Ended December 31,
202420232022
Current:
Federal$61,873 $20,466 $74,464 
State8,020 3,934 11,070 
Foreign5,137 3,659 1,518 
Total current tax75,030 28,059 87,052 
Deferred:
Federal(24,747)(19,934)(51,217)
State680 (2,085)(5,281)
Foreign(853)(131)(123)
Total deferred tax(24,920)(22,150)(56,621)
Total provision for income taxes
$50,110 $5,909 $30,431 

The following table presents a reconciliation of the statutory federal rate and the Company’s effective tax rate for the periods presented:
Year Ended December 31,
202420232022
Income tax at federal statutory rate21.00 %21.00 %21.00 %
State tax, net of federal tax effect4.01 (0.02)5.16 
Foreign income tax rate differential(0.68)(1.35)(1.27)
Stock-based compensation2.79 3.26 8.55 
Provision to return true-ups0.33 (12.03)0.46 
Income tax credits(5.78)(11.14)(12.73)
Change in valuation allowance(0.10)0.60 2.24 
Change in uncertain tax positions1.61 0.26 (0.36)
Global intangible low-taxed income (“GILTI”)— — 16.09 
Employee fringe benefits0.54 0.73 0.43 
Other non-deductible expenses2.70 4.19 5.19 
Deferred adjustments1.27 0.57 1.46 
Other (0.30)(0.45)(0.65)
Effective tax rate27.39 %5.62 %45.57 %
Deferred Tax Balances
Deferred income taxes reflect the net tax effects of temporary differences between carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following table presents the significant components of the Company’s deferred tax assets and liabilities for the periods presented (in thousands):
As of December 31,
20242023
Deferred tax assets:
Reserves and others$8,612 $11,026 
Stock-based compensation15,050 17,564 
Net operating loss carryforward6,228 1,365 
Tax credit carryforward29,810 35,087 
Capitalized research and development140,813 100,168 
Operating lease liabilities9,140 20,402 
Gross deferred tax assets209,653 185,612 
Valuation allowance(34,743)(34,927)
Total deferred tax assets174,910 150,685 
Deferred tax liabilities: 
Depreciation and amortization(24,329)(12,979)
Deferred contract costs(6,250)(7,372)
Operating lease right-of-use assets(4,747)(10,943)
Total deferred tax liabilities(35,326)(31,294)
Net deferred tax assets$139,584 $119,391 
As of December 31, 2024, the Company had federal and state net operating loss carryforwards of approximately $17.1 million and $44.2 million, respectively, expiring beginning in 2028 and 2025, respectively. The Company had federal research credit carryforwards of approximately $2.4 million (gross) that begin to expire in 2027, if unused, and California research credit carryforwards of approximately $70.3 million (gross) that do not expire.
Utilization of net operating loss carryforwards and credits may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended, and similar state provisions. The annual limitation may result in the expiration of net operating losses and credits before utilization. The Company does not expect any previous ownership changes, as defined under Section 382 and 383 of the Internal Revenue Code, to result in a limitation that will materially reduce the total amount of net operating loss carryforwards and credits that can be utilized. Further, foreign loss carryforwards may be subject to limitations under the applicable laws of the taxing jurisdictions due to ownership change limitations.
As of December 31, 2024, the Company had accumulated undistributed earnings generated by its foreign subsidiaries of approximately $39.9 million. The Company continues to assert that all its foreign earnings are to be permanently reinvested and expects future U.S. cash generation to be sufficient to meet future U.S. cash needs. As such, the Company has not recognized a deferred tax liability related to unremitted foreign earnings.
Deferred Tax Valuation Allowance
As more fully described in “Income Taxes” in Note 2, “Summary of Significant Accounting Policies,” the Company maintains valuation allowances against deferred tax balances where appropriate and considers all positive and negative evidence that the Company would have future taxable income sufficient to realize the benefit of its deferred tax assets. 
Valuation allowances of $34.7 million and $34.9 million primarily related to California state tax credits were recorded against the Company’s net deferred tax asset balances as of December 31, 2024 and 2023, respectively. Since the Company mainly conducts research and development activities in California but earns a substantial portion of its U.S. income in other states, the Company could not assert, at the required more-likely-than-not level of certainty, that it would generate future taxable California income sufficient to realize the benefit of these deferred tax assets. Accordingly, the Company maintained a valuation allowance against specific state credits.
Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
Year Ended December 31,
202420232022
Balance at the beginning of the year$64,459 $59,764 $52,605 
Increase (decrease) based on tax positions related to the prior year
91 (2,146)61 
Increase based on tax positions related to the current year11,641 6,841 7,455 
Decrease from tax authorities’ settlements
(508)— — 
Lapse of statute of limitations— — (357)
Balance at the end of the year$75,683 $64,459 $59,764 
As of December 31, 2024, the Company had $44.6 million of unrecognized tax benefits that, if recognized, would affect the effective tax rate. The Company’s policy is to record interest and penalties related to unrecognized tax benefits as income tax expense. During the year ended December 31, 2024, the Company recorded interest and penalties of $3.9 million. During each of the years ended December 31, 2023 and 2022, the Company recorded an immaterial amount of interest and penalties.
In addition, the Company is subject to the continuous examination of its income tax returns by the IRS and other tax authorities. The Company’s federal and state income tax returns for tax years subsequent to 2012 remain open to examination. In the Company’s foreign jurisdictions — Canada, Germany, Ireland and the United Kingdom — the tax years subsequent to 2018 remain open to examination. The Company regularly assesses the likelihood of adverse outcomes resulting from examinations to determine the adequacy of its provision for income taxes, and monitors the progress of ongoing discussions with tax authorities and the impact, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions. The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. As of December 31, 2024, although the timing of the resolution or closure of audits is not certain, the Company believes it is reasonably possible that unrecognized tax benefits will not be reduced within the next 12 months.
v3.25.0.1
NET INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
NET INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS NET INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
Basic net income (loss) per share attributable to common stockholders is computed using the weighted-average number of outstanding shares of common stock during the period. Diluted net income (loss) per share attributable to common stockholders is computed using the weighted-average number of outstanding shares of common stock and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities include stock options, RSUs (including PRSUs) and, to a lesser extent, ESPP shares. If dilutive, such potentially dilutive securities are reflected in net income (loss) per share attributable to common stockholders using the treasury stock method.
The following tables present the calculation of basic and diluted net income per share attributable to common stockholders for the periods presented (in thousands, except per share data):
Year Ended December 31,
202420232022
Basic net income per share:
Net income attributable to common stockholders$132,850 $99,173 $36,347 
Shares used in computation:
Weighted-average common shares outstanding67,415 69,221 70,867 
Basic net income per share attributable to common stockholders:$1.97 $1.43 $0.51 
Year Ended December 31,
202420232022
Diluted net income per share:
Net income attributable to common stockholders$132,850 $99,173 $36,347 
Shares used in computation:
Weighted-average common shares outstanding67,415 69,221 70,867 
Stock options334 331 474 
RSUs2,861 4,042 2,058 
ESPP1 2 3 
Number of shares used in diluted calculation70,611 73,596 73,402 
Diluted net income per share attributable to common stockholders:$1.88 $1.35 $0.50 
The following stock-based instruments were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented (in thousands):
Year Ended December 31,
202420232022
Stock options674 791 2,030 
RSUs1,559 424 853 
v3.25.0.1
INFORMATION ABOUT SEGMENT, REVENUE AND GEOGRAPHIC AREAS
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
INFORMATION ABOUT SEGMENT, REVENUE AND GEOGRAPHIC AREAS INFORMATION ABOUT SEGMENT, REVENUE AND GEOGRAPHIC AREAS
The Company considers operating segments to be components of the Company for which separate financial information is available and evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company has determined that it has a single operating and reporting segment managed on a consolidated basis. The single segment generates substantially all of its revenue from the sale of performance-based advertising products through its advertising platform. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer assesses performance for the single segment and decides how to allocate resources based on net income, which is reported on the consolidated statements of operations as net income attributable to common stockholders. Net income is used to monitor budget versus actual results. The measure of segment assets is reported on the consolidated balance sheets as total assets.
The following table presents a reconciliation of segment net income to net income attributable to common stockholders for the periods presented (in thousands):
Year Ended December 31,
202420232022
Net revenue
$1,412,064 $1,337,062 $1,193,506 
Less:
Employee expense (exclusive of stock-based compensation)(1)
689,161 672,833 600,975 
Cost of revenue (exclusive of depreciation and amortization and stock-based compensation)
118,475 108,955 100,944 
Stock-based compensation
158,193 173,451 156,090 
Other segment items(2)
222,868 234,557 223,867 
Depreciation and amortization
40,407 42,184 44,852 
Provision for income taxes
50,110 5,909 30,431 
Segment net income
132,850 99,173 36,347 
Reconciliation of segment net income to net income attributable to common stockholders
Adjustments and reconciling items
— — — 
Net income attributable to common stockholders
$132,850 $99,173 $36,347 
(1)    Includes expense related to employees working in the sales and marketing, product development and general and administrative departments and excludes expense related to employees working in the infrastructure department whose costs are included in the cost of revenue (exclusive of depreciation and amortization and stock-based compensation) line.
(2)    Includes marketing, facilities, travel and entertainment, consulting and professional services, hardware and software, bad debt, litigation settlement, asset impairment, other operating expenses and other income (expense).
Net Revenue
When the Company communicates results externally, it disaggregates net revenue into major product lines and primary geographical markets, which is based on the billing address of the customer. The disaggregation of net revenue by major product lines is based on the type of service provided and also aligns with the timing of revenue recognition for each. To reflect the Company’s strategic focus on creating differentiated experiences for its Services categories and Restaurants, Retail & Other categories, the Company further disaggregates advertising revenue to reflect these two high-level category groupings. The Services categories consist of the following businesses: home, local, auto, professional, pets, events, real estate and financial services. The Restaurants, Retail & Other categories consist of the following businesses: restaurants, shopping, beauty & fitness, health and other.
The following table presents the Company’s net revenue by major product line (and by category for advertising revenue) for the periods presented (in thousands):
Year Ended December 31,
202420232022
Net revenue by product:
Advertising revenue by category:
Services$879,092 $793,112 $693,810 
Restaurants, Retail & Other469,928 483,406 440,593 
Advertising1,349,020 1,276,518 1,134,403 
Other(1)
63,044 60,544 59,103 
Total net revenue$1,412,064 $1,337,062 $1,193,506 
(1)    For the year ended December 31, 2024, other revenue includes revenue generated from transactions with consumers, which the Company reported separately as transactions revenue in prior periods. Prior-period amounts in the table above have been reclassified to conform to the current-period presentation.
During the years ended December 31, 2024, 2023 and 2022, no individual customer accounted for 10% or more of consolidated net revenue.
The following table presents the Company’s net revenue by major geographic region for the periods presented (in thousands):
Year Ended December 31,
202420232022
United States$1,401,531 $1,327,263 $1,185,202 
All other countries10,533 9,799 8,304 
Total net revenue$1,412,064 $1,337,062 $1,193,506 
Long-Lived Assets
The following table presents the Company’s long-lived assets by major geographic region as of December 31, 2024 and 2023 (in thousands):
As of December 31,
20242023
United States$71,641 $62,464 
All other countries4,028 6,220 
Total long-lived assets$75,669 $68,684 
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net income attributable to common stockholders $ 132,850 $ 99,173 $ 36,347
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 31, 2024
shares
Dec. 31, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Carmen Amara [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On November 13, 2024, Carmen Amara, our Chief People Officer, entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The plan provides for the sale of an aggregate of up to 16,500 shares of our common stock that may vest during the plan period, net of any shares we withhold to satisfy income tax withholding and remittance obligations in connection with the net settlement of the equity awards, the amount of which cannot currently be determined. The plan will terminate on the earlier of December 31, 2025 or when all shares subject to the plan have been sold, subject to early termination for certain specified events set forth in the plan.
Name Carmen Amara  
Title Chief People Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date November 13, 2024  
Expiration Date December 31, 2025  
Arrangement Duration 413 days  
Aggregate Available 16,500 16,500
Joseph Nachman [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On December 2, 2024, Joseph Nachman, our Chief Operating Officer, entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The plan provides for the sale of an aggregate of up to 238,858 shares of our common stock. The plan will terminate on the earlier of March 31, 2026 or when all shares subject to the plan have been sold, subject to early termination for certain specified events set forth in the plan.
Name Joseph Nachman  
Title Chief Operating Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 2, 2024  
Expiration Date March 31, 2026  
Arrangement Duration 484 days  
Aggregate Available 238,858 238,858
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Computer viruses, malware, phishing attacks, denial-of-service attacks and other cybersecurity threats present a common and constantly evolving risk in our industry. Accordingly, we have incorporated the assessment and management of material risks from cybersecurity threats into our overall risk management process. Our Engineering Security team, which is primarily responsible for identifying, assessing and managing material risks from cybersecurity threats, works with our Chief Technology Officer and other members of management to prioritize our cybersecurity risk management processes and mitigate cybersecurity threats that are most likely to materially impact our business. Our Chief Technology Officer and members of the Engineering Security team regularly report to the Audit Committee of our Board (the “Audit Committee”), which oversees our efforts to monitor and control cybersecurity risk, as discussed further below.
We have implemented and maintain various information security measures, processes, standards and policies, as applicable, designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, third-party hosted services, communications systems, hardware and software, and our critical data, including intellectual property, confidential information that is proprietary, strategic or competitive in nature, as well as the data of our users, customers, partners and employees (“Information Systems and Data”):
•Risk Identification and Assessment. The Engineering Security team identifies and assesses risks from cybersecurity threats by monitoring and evaluating our threat environment and the Company’s risk profile using various internal resources as well as third-party products and services. For example, depending on the environment, system and data, we use manual and automated tools, including third-party cybersecurity software; subscription reports and services from threat intelligence service providers; scans of the threat environment; audits; and threat assessments.
•Risk Management. Depending on the environment, systems and data, we implement and maintain various technical, physical and organizational measures, processes, standards and policies designed to manage and mitigate material risks from cybersecurity threats to our Information Systems and Data. These include, as applicable to specific environments, systems and data, our Security Incident Response Plan, our Vulnerability Management Policy, data encryption, network security controls and data segregation.
•Vendor Management. We also have a vendor management program to manage cybersecurity risks associated with our use of third-party service providers, such as AWS, Oracle and Workday, to perform various functions throughout our business. The program includes risk assessments, security questionnaires and security assessment calls with vendors’ security personnel as appropriate. Depending on the nature of the services provided, the characteristics of the affected Information Systems and Data, and the identity of the provider, our process may involve different levels of assessment designed to help identify cybersecurity risks associated with the provider and imposing contractual obligations related to cybersecurity on the provider.
•Employee Engagement and Education. In addition to the processes and practices described above, we work to empower employees to recognize and respond to cybersecurity risks. For example, we regularly host hackathons, which encourage our Product and Engineering teams to collaborate to test creative ideas, including for security solutions. In addition to keeping employees informed about cybersecurity best practices throughout the year, our IT and Engineering Security teams host “Hacktober” each October to promote security awareness in honor of National Cyber Security Awareness Month. Hacktober consists of activities such as weekly trivia challenges to help educate employees about how they can securely access corporate systems, recognize and report phishing email attempts, and take other actions to protect Yelp. To test employee readiness, these teams also send simulated phishing emails that direct employees to additional training if they engage with the email contents.
At this time, we have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations or financial condition. For a description of the risks from cybersecurity threats that may materially affect us and how they may do so, see the section titled “Risk Factors—If our security measures are compromised, or if our platform is subject to attacks that degrade or deny the ability of users to access our content, users may curtail or stop use of our platform.”
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We have implemented and maintain various information security measures, processes, standards and policies, as applicable, designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, third-party hosted services, communications systems, hardware and software, and our critical data, including intellectual property, confidential information that is proprietary, strategic or competitive in nature, as well as the data of our users, customers, partners and employees (“Information Systems and Data”):
•Risk Identification and Assessment. The Engineering Security team identifies and assesses risks from cybersecurity threats by monitoring and evaluating our threat environment and the Company’s risk profile using various internal resources as well as third-party products and services. For example, depending on the environment, system and data, we use manual and automated tools, including third-party cybersecurity software; subscription reports and services from threat intelligence service providers; scans of the threat environment; audits; and threat assessments.
•Risk Management. Depending on the environment, systems and data, we implement and maintain various technical, physical and organizational measures, processes, standards and policies designed to manage and mitigate material risks from cybersecurity threats to our Information Systems and Data. These include, as applicable to specific environments, systems and data, our Security Incident Response Plan, our Vulnerability Management Policy, data encryption, network security controls and data segregation.
•Vendor Management. We also have a vendor management program to manage cybersecurity risks associated with our use of third-party service providers, such as AWS, Oracle and Workday, to perform various functions throughout our business. The program includes risk assessments, security questionnaires and security assessment calls with vendors’ security personnel as appropriate. Depending on the nature of the services provided, the characteristics of the affected Information Systems and Data, and the identity of the provider, our process may involve different levels of assessment designed to help identify cybersecurity risks associated with the provider and imposing contractual obligations related to cybersecurity on the provider.
•Employee Engagement and Education. In addition to the processes and practices described above, we work to empower employees to recognize and respond to cybersecurity risks. For example, we regularly host hackathons, which encourage our Product and Engineering teams to collaborate to test creative ideas, including for security solutions. In addition to keeping employees informed about cybersecurity best practices throughout the year, our IT and Engineering Security teams host “Hacktober” each October to promote security awareness in honor of National Cyber Security Awareness Month. Hacktober consists of activities such as weekly trivia challenges to help educate employees about how they can securely access corporate systems, recognize and report phishing email attempts, and take other actions to protect Yelp. To test employee readiness, these teams also send simulated phishing emails that direct employees to additional training if they engage with the email contents.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our Board oversees the Company’s aggregate risk profile and risk management process. The Board administers this oversight function with respect to cybersecurity risks through the Audit Committee, which is responsible for overseeing the Company’s cybersecurity risk management processes, including the steps our management has taken to monitor and control cybersecurity risks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board administers this oversight function with respect to cybersecurity risks through the Audit Committee, which is responsible for overseeing the Company’s cybersecurity risk management processes, including the steps our management has taken to monitor and control cybersecurity risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our Board oversees the Company’s aggregate risk profile and risk management process. The Board administers this oversight function with respect to cybersecurity risks through the Audit Committee, which is responsible for overseeing the Company’s cybersecurity risk management processes, including the steps our management has taken to monitor and control cybersecurity risks.
Cybersecurity Risk Role of Management [Text Block] Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including our Chief Technology Officer, our Vice President of Engineering Security and our Director of Engineering Security.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our Chief Technology Officer and members of the Engineering Security team typically meet bi-annually with the Audit Committee to review the Company’s significant cybersecurity threats and risks, as well as the processes the Company has implemented to address them. The Chair of the Audit Committee, in turn, reports to the full Board.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Chief Technology Officer received a B.A. in Computing and Artificial Intelligence, and his experience includes the development of intrusion detection and firewall functionality for products at a global technology company. Our Vice President of Engineering Security received an M.S. in Business Analytics, with a focus on Computer and Information Systems, and her experience includes more than 15 years in systems management and administration at a major U.S. financial institution. Our Director of Engineering Security received an M.S. in Telecommunications Networks with a specialization in Security, is a Certified Information Systems Security Professional, and has more than 15 years of experience building security programs, including building and leading the incident response team at a global software company.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our Vulnerability Management Policy and Security Incident Response Plan are designed to escalate certain cybersecurity vulnerabilities and incidents, respectively, to members of management depending on the circumstances, including the Vice President, Director and other members of the Engineering Security team. Our Security Incident Response Plan also provides for escalations to our General Counsel and other members of the Legal team, as well as for notification of our Chief Technology Officer. The Engineering Security team and other members of management work with the incident response team to help the Company mitigate and remediate cybersecurity incidents of which they are notified.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation—The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany balances and transactions have been eliminated upon consolidation.
Use of Estimates
Use of Estimates—The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Items that require estimates, judgments or assumptions include, but are not limited to, determining variable consideration and identifying the nature and timing of satisfaction of performance obligations, allowance for doubtful accounts and credit losses, valuation of intangible assets acquired in a business combination, fair value and estimated useful lives of long- and indefinite-lived assets, litigation loss contingencies, liabilities related to incurred but not reported insurance claims, fair value and achievement of targets for performance-based restricted stock units (“PRSUs”), and income taxes. These estimates, judgments and assumptions are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from management’s estimates due to macroeconomic uncertainty and other factors.
Foreign Currency Translation
Foreign Currency Translation—The consolidated financial statements of the Company’s foreign subsidiaries are measured using the local currency as the functional currency. Assets and liabilities of foreign subsidiaries are translated at exchange rates in effect as of the balance sheet date. Revenues and expenses are translated at average exchange rates in effect during the year. Translation adjustments are recorded within accumulated other comprehensive loss, a separate component of stockholders’ equity.
Cash and Cash Equivalents
Cash and Cash Equivalents—The Company considers all highly liquid investments, such as treasury bills, commercial paper, certificates of deposit, and money market instruments with maturities of three months or less at the time of acquisition to be cash equivalents. Cash and cash equivalents primarily consist of cash on deposit with banks and amounts held in interest-bearing money market funds that are readily convertible to cash. The fair value of cash and cash equivalents approximates their carrying value.
Marketable Securities
Marketable Securities—The Company considers highly liquid treasury notes, U.S. agency securities, corporate debt securities, money market funds and other funds with maturities of more than three months to be marketable securities. These securities are classified as short-term marketable securities on the consolidated balance sheets as they represent the investment of cash available for current operations. The Company has a policy that generally requires its securities to be investment grade (i.e., rated ‘A’ or higher by bond rating firms) with the objective of minimizing the potential risk of principal loss. The Company classifies its marketable securities as available-for-sale and determines the classification at the time of purchase based on its investment strategy; it reevaluates such designation at each balance sheet date.
Available-for-sale securities are stated at fair value as of each balance sheet date and are periodically assessed for impairment. An investment is impaired if the fair value of the investment is less than its amortized cost basis. The Company reviews the securities in an unrealized loss position and evaluates whether credit loss exists by considering factors such as historical experience, market data, issuer-specific factors including their credit rating, and current economic conditions. If a credit loss exists, the Company measures the loss by comparing the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. An allowance for credit loss is recorded as a component of other income (expense), net, limited by the amount of unrealized loss. Any remaining unrealized losses are recorded to other comprehensive income (loss).
The Company determines any realized gains or losses on the sale of marketable securities on a specific identification method and records such gains and losses as a component of other income (expense), net. Amortization of premiums and accretion of discounts are included in interest income. If the Company has the intent to sell an available-for-sale security in an unrealized loss position or it is more likely than not that it will be required to sell the security prior to recovery of its amortized cost basis, any previously recorded allowance is reversed and the entire difference between the amortized cost basis of the security and its fair value is recognized on the consolidated statements of operations.
Concentrations of Credit Risk
Concentrations of Credit Risk—Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents, marketable securities and other investments, and accounts receivable. The Company places its cash and cash equivalents, marketable securities and other investments with major financial institutions, which management assesses to be of high credit quality, in order to limit the exposure of each investment.
Credit risk with respect to accounts receivable is dispersed due to the Company’s large number of customers. In addition, the Company’s credit risk is mitigated by the relatively short collection period. Collateral is not required for accounts receivable.
Accounts Receivable, Net and Payment Terms Accounts Receivable, Net, and Payment Terms—The timing of revenue recognition may differ from the timing of invoicing to customers. The Company records an accounts receivable balance when revenue is recognized prior to or at the time of invoicing the customer. Payment terms and conditions vary by contract type and the service being provided. For advertising services, the Company typically invoices customers on a monthly basis, one month in arrears, with payment due either at the end of each billing period or up to 30 days after the end of the billing period. For transaction services, the Company collects its commission fee on each transaction either at the time of the transaction or up to 30 days after the end of the billing period. For subscription services, the Company typically invoices customers one month in advance, with payment due at the beginning of each billing period.
Allowance for Doubtful Accounts
Allowance for Doubtful Accounts—The Company maintains an allowance for doubtful accounts receivable. The allowance reflects the Company’s best estimate of probable losses associated with the accounts receivable balance. It is based upon historical experience and loss patterns, the number of days that billings are past due, an evaluation of the potential risk of loss associated with delinquent accounts based on the credit risk of those accounts, known delinquent accounts, as well as current conditions and reasonable and supportable economic forecasts. When new information becomes available that allows the Company to more accurately estimate the allowance, it makes an adjustment, which is considered a change in accounting estimate. The carrying value of accounts receivable approximates their fair value.
Deferred Contract Costs and Cost of Revenue
Deferred Contract Costs—The Company has determined that certain sales incentive compensation costs are incremental costs to obtain the related contract. These costs are capitalized in the period in which they are incurred and amortized on a straight-line basis over the expected customer life of the associated contract. The Company uses a straight-line basis as it expects the benefit of these costs to be realized uniformly over the amortization period. The amortization periods for contract costs, which extend up to 32 months, were determined based on both qualitative and quantitative factors, including product life cycle attributes and customer retention historical data. For contract costs with amortization periods of less than 12 months, the Company applies a practical expedient to expense such costs as incurred. The Company assesses deferred contract costs for impairment on a quarterly basis. No impairment charges were recorded in the periods presented. Amortized contract costs are
recorded within sales and marketing expense on the consolidated statements of operations. Deferred contract costs are included within other non-current assets on the Company’s consolidated balance sheets (see Note 11, “Other Non-Current Assets”).
Cost of Revenue—The Company’s cost of revenue primarily consists of credit card processing fees, website infrastructure expense, which includes website hosting costs, and salaries, benefits and stock-based compensation expense for the infrastructure teams responsible for operating the Company’s website and mobile app, and excludes depreciation and amortization expense. Cost of revenue also includes third-party advertising fulfillment costs.
Deferred Revenue and Revenue Recognition
Deferred Revenue—The Company records deferred revenue when it has received consideration, or has the right to receive consideration, in advance of the transfer of the performance obligations of the contract to the customer.
Revenue Recognition—The Company generates revenue from the sale of advertising products and other revenue sources, which correspond to the Company’s major product lines. The Company recognizes revenue by applying the following steps: the contract with the customer is identified; the performance obligations in the contract are identified; the transaction price is determined; the transaction price is allocated to the performance obligations in the contract; and revenue is recognized when (or as) the Company satisfies these performance obligations in an amount that reflects the consideration it expects to be entitled to in exchange for those services. The Company applies the portfolio practical expedient to account for the vast majority of contracts with customers in each category of revenue. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the amount of revenue it recognizes is equal to the amount which the Company has a right to invoice.
Contracts with customers can include multiple performance obligations, where the transaction price is allocated to each performance obligation based on its relative standalone selling price (“SSP”). The Company determines SSP based on the prices of the promised goods or services charged when sold separately to customers, which are determined using contractually stated prices. The Company allocates revenue to each of the performance obligations included in a contract with multiple performance obligations at the inception of the contract. The various products and services comprising contracts with multiple performance obligations are typically capable of being both distinct and distinct within the context of the arrangement and are accounted for as separate performance obligations.
For all contracts with customers, estimates and assumptions include determining variable consideration and identifying the nature and timing of satisfaction of performance obligations. The Company may accept lower consideration than the amount
promised per the contract for certain revenue transactions and certain customers may receive cash based incentives, credits or refunds, which are accounted for as variable consideration when estimating the amount of revenue to recognize. The Company estimates these amounts based on the expected amount to be provided to customers and constrains the revenue. The Company believes that there will not be a significant reversal in the amount of cumulative revenue recognized when the uncertainty associated with the estimates of variable consideration is subsequently resolved. For contracts satisfied over time, the Company applies the invoice practical expedient to depict the value transferred to the customer and measure of progress towards completion of its obligations. The Company considers the right to receive consideration from a customer to correspond directly with the value to the customer of its performance completed to date. The Company does not consider the effects of the time value of money as substantially all of the Company’s contracts are invoiced on a monthly basis, one month in arrears.
Revenue is recognized net of any taxes collected from customers, which are remitted to governmental authorities. The Company does not typically refund customers for services once it determines the performance obligations of the contract have been satisfied, but will assess any refund requests from customers and partners on a case by case basis. The Company records an allowance for potential future refunds, which is estimated based on historical trends and recorded as a reduction of net revenue.
Advertising. The Company generates advertising revenue primarily through the display of advertising products on its website and mobile app. These arrangements are evidenced by either written or electronic acceptance of a contract that stipulates the types of advertising to be delivered, the timing and pricing. Performance-based advertising placements are priced on a cost-per-click basis, while impression-based advertising placements are priced on a cost per thousand impressions basis. The Company recognizes revenue from the delivery of performance-based ads and impression-based ads in the period of delivery, in each case net of customer discounts. The Company also offers businesses premium features in connection with their business pages pursuant to fixed monthly fees, and recognizes revenue from such offerings over the service period.
The Company also generates advertising revenue through indirect sales of advertising products, such as through reseller contracts that allow partners to sell Yelp Branded Profiles to their clients, its RepairPal network of partners that promotes certified auto repair shops to consumers and the monetization of remnant advertising inventory through third-party ad networks, and recognizes revenue in the period of delivery, net of customer discounts.
Other Revenue. The Company generates other revenue through non-advertising contracts, including subscription services contracts, such as sales of monthly subscriptions of Yelp Guest Manager, licensing contracts for access to Yelp data, as well as transactions revenue, primarily from revenue-sharing partner contracts. Subscription revenues are recognized ratably over the contract terms beginning on the commencement date of each contract, which is the date the service is made available to the customer. The Company’s transactions platform provides consumers with the ability to place food orders for pickup and delivery through third parties, primarily Grubhub, and complete other transactions directly on Yelp. The Company earns a per-transaction commission fee in accordance with partnership contracts for acting as an agent for these transactions, which it recognizes on a net basis and includes in revenue upon completion of a transaction.
Property, Equipment and Software
Property, Equipment and Software—Property, equipment and software are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are approximately three to five years. Leasehold improvements are amortized over the shorter of the lease term or 10 years. Following the disposition of an asset, the associated net cost is no longer recognized as an asset, and any gain or loss on the disposition is reflected in operating expenses.
Website and Internal-Use Software Development Costs
Website and Internal-Use Software Development Costs—Costs related to website and internal-use software are primarily related to the Company’s website and mobile app, including support systems. The Company capitalizes its costs to develop software when: preliminary development efforts are successfully completed; management has authorized and committed project funding; and it is probable that the project will be completed and the software will be used as intended. Costs incurred for enhancements that are expected to result in additional material functionality are capitalized and amortized over the estimated useful life of the upgrades. Such costs are amortized on a straight-line basis over the estimated useful life of the related asset, which is generally three years.
The Company capitalizes certain implementation costs incurred related to cloud computing arrangements that are service contracts. Such costs are amortized on a straight-line basis over the term of the associated hosting arrangement plus any reasonably certain renewal period. Any capitalized amounts related to such arrangements are recorded within prepaid expense and other current assets and within non-current assets on the consolidated balance sheets.
Leases
Leases—The Company leases its office facilities under operating lease agreements that expire from 2025 to 2031, some of which include options to renew at the Company’s sole discretion. If exercised, such options would extend the lease terms by five years. Additionally, one of the Company’s lease agreements contains the option to terminate the lease, which requires 12 months prior written notice to the landlord. The Company does not have any finance lease agreements.
The Company determines if an arrangement contains a lease at inception. The Company recognizes on its consolidated balance sheets operating lease liabilities representing the present value of future lease payments, and an associated operating lease right-of-use (“ROU”) asset for any operating lease with a term greater than one year. The Company recognizes the amortization of the ROU asset each month within lease expense. The Company elected to use the practical expedient for short-term leases, and therefore does not record operating lease ROU assets or lease liabilities associated with leases with durations of 12 months or less.
When recording the present value of lease liabilities, a discount rate is required. The Company has concluded that the rates implicit in the various operating lease agreements are not readily determinable. As a result, the Company instead uses its incremental borrowing rate, which is calculated based on hypothetical borrowings to fund each respective lease over the lease term, as of the lease commencement date, assuming that borrowings are secured by the various leased properties. The incremental borrowing rates are determined based on an assessment of the Company’s implied credit rating, using ratings scales from reputable rating agencies that consider a number of qualitative and quantitative factors. Market rates are derived as of the lease commencement dates with reference to companies with the same debt rating that operate in a similar industry to the Company.
The Company does not recognize its renewal or termination options as part of its ROU assets and lease liabilities until it is reasonably certain that it will exercise such options.
The Company does not combine lease and non-lease components; its lease agreements provide specific allocations of the Company’s obligations between lease and non-lease components. As a result, the Company is not required to exercise any judgment in determining such allocations.
The Company has subleased certain office facilities under operating lease agreements that expire in 2025 and 2031. The sublease agreements do not contain any options to renew. The Company recognizes a majority of the sublease rental income as a reduction in rent expense on a straight-line basis over the lease period, with any sublease income in excess of the original lease cost recorded to other income, net.
Business Combinations
Business Combinations—The Company accounts for acquisitions of entities that consist of inputs and processes that have the ability to contribute to the creation of outputs as business combinations. The Company allocates the purchase price of the acquisition to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over those fair values is recorded as goodwill. Acquisition and integration costs are expensed as incurred. During the measurement period, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. After the measurement period, which could be up to one year after the acquisition date, subsequent adjustments are recorded to the Company’s consolidated statements of operations.
Goodwill Goodwill—Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The carrying amount of goodwill is reviewed at least annually, or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. The Company has the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is more likely than not that its fair value is less than the carrying amount, or opts not to perform a qualitative assessment, then the Company will compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value.
Intangible Assets Intangible Assets—Intangible assets include acquired intangible assets identified through business combinations, which are carried at fair value less accumulated amortization, and purchased intangible assets, which are carried at cost less accumulated amortization. Amortization is recorded over the estimated useful lives of the assets, generally 2 to 12 years. The Company reviews amortizable intangible assets to be held and used for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Determination of recoverability is based on the lowest level of identifiable estimated undiscounted cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss is based on the excess of the carrying value of the asset over its fair value.
Impairment of Long-Lived Assets and Long-Lived Assets to be Disposed of
Impairment of Long-Lived Assets and Long-Lived Assets to Be Disposed of—The Company evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.
Stock Repurchases
Stock Repurchases—The Company accounts for repurchases of its common stock by recording the cost to repurchase those shares to treasury stock, a separate component of stockholders’ equity. Upon retirement, the carrying amount of treasury stock is reduced with a corresponding reduction to par value of common stock, with any excess of the cost incurred to repurchase shares over their par value recorded as an adjustment to retained earnings (accumulated deficit) on the date of retirement.
Research and Development Research and Development—The Company incurs research and development expenses for costs it incurs in research aimed at developing, and in translating the results of such research into, new products and services or significant improvements to existing products or services intended for internal use. Such costs are considered research and development and are expensed as incurred. These expenses primarily consist of employee-related costs (including stock-based compensation) for the Company’s engineers and other employees engaged in the research and development of its products and services, as well as allocated indirect overhead costs.
Stock-Based Compensation
Stock-Based Compensation—The Company accounts for stock-based employee compensation plans under the fair value recognition and measurement provisions, which require all stock-based payments to employees, including grants of stock options, restricted stock awards, restricted stock units (“RSUs”), PRSUs and issuances under its 2012 Employee Stock Purchase Plan, as amended (“ESPP”), to be measured based on the grant-date fair value of the awards. The Company accounts for forfeitures as they occur.
The Company estimates the fair value of options granted to employees on the grant date using the Black-Scholes-Merton option valuation model. This valuation model for stock-based compensation expense requires the Company to make assumptions and judgments about the variables used in the calculation, including the expected term (weighted-average period of time that the options granted are expected to be outstanding), the expected volatility in the fair market value of the Company’s common stock, a risk-free interest rate and expected dividends. No compensation cost is recorded for options that do not vest. The Company uses the simplified calculation of expected life as it does not have sufficient appropriate historical exercise data on which to base its own estimate. Expected volatility is based on an average of the historical volatilities of the common stock of several entities with characteristics similar to those of the Company. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company recognizes compensation cost related to options using the straight-line method.
The fair value of RSUs is measured using the closing price of the Company’s common stock on the New York Stock Exchange on the grant date. The Company recognizes compensation cost related to RSUs using the straight-line method. No compensation cost is recorded for RSUs that do not vest. The Company settles the employee tax liabilities associated with the vesting of RSUs by withholding a portion of the vested shares and covering such taxes with cash from its balance sheet, which the Company refers to as net share settlement.
The Company has two types of PRSUs outstanding — awards for which the vesting is subject to both a time-based vesting schedule and either (a) a market condition or (b) the achievement of performance goals.
For the awards subject to a market condition, the Company uses a Monte Carlo model to determine the fair value of the PRSUs. The Company recognizes compensation cost related to PRSUs subject to a market condition on a graded basis over the requisite service period if the service condition is met regardless of whether the market condition is satisfied. No compensation cost is recorded if the service condition is not met.
For the awards subject to the achievement of performance goals, compensation costs are recorded when the Company concludes that it is probable that the performance conditions will be achieved. The Company performs an analysis in each reporting period to determine the probability that the performance goals will be met, and recognizes a cumulative catch-up adjustment to compensation cost for changes in its probability assessment in subsequent reporting periods, if required, until the performance period has expired. The fair value of the PRSUs is measured using the closing price of the Company’s common stock on the New York Stock Exchange on the grant date. The Company recognizes compensation cost related to PRSUs subject to the achievement of performance goals on a graded basis over the requisite service period. No compensation cost is recorded if the service condition is not met.
Advertising Expenses Advertising Expenses—Advertising costs are expensed in the period in which the advertising takes place. Costs of producing advertising are expensed in the period in which production takes place.
Comprehensive Income (Loss)
Comprehensive Income (Loss)—Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss), which consists of foreign currency adjustments and unrealized loss on available-for-sale debt securities, net of tax.
Income Taxes
Income Taxes—The Company records income taxes using the asset and liability method, which requires the recognition of deferred tax assets (“DTAs”) and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than enactments or changes in the tax law or rates. In assessing the realization of deferred tax assets, the Company considers whether it is more likely than not that all or some portion of deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Valuation allowances are provided to reduce deferred tax assets to the amount that is more likely than not to be realized. In determining the need for a valuation allowance, the weight given to positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. The Company evaluates the ability to realize net deferred tax assets and the related valuation allowance on a quarterly basis.
The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. The Company provides for tax contingencies whenever it is deemed probable that a tax asset has been impaired or a tax liability has been incurred for events such as tax claims or changes in tax laws. Tax contingencies are based upon their technical merits, relative tax law, and the specific facts and circumstances as of each reporting period. Changes in facts and circumstances could result in material changes to the amounts recorded for such tax contingencies.
The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.
Employee Benefit Plan Employee Benefit Plan—The Company sponsors a qualified 401(k) defined contribution plan covering eligible employees. Participants may contribute a portion of their annual compensation up to a maximum annual amount set by the Internal Revenue Service (“IRS”).
Insurance
Insurance—The Company is self-insured for certain employee benefits including medical, dental and vision; however, the Company obtains third-party excess insurance coverage to limit its exposure to certain claims. Liabilities associated with these benefits include estimates of both claims filed and losses incurred but not yet reported. The Company utilizes valuations provided by reputable, independent third-party actuaries. The Company’s self-insured liabilities are included on the consolidated balance sheets within accounts payable and accrued liabilities.
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Effective
Recently Adopted Accounting Pronouncements
In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The Company adopted ASU 2023-07 retrospectively in the year ended December 31, 2024. See Note 19, “Information about Segment, Revenue and Geographic Areas,” for further details.
Recent Accounting Pronouncements Not Yet Effective

In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires the disclosure of specific categories in the rate reconciliation and greater disaggregation for income taxes paid. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024 and should be adopted prospectively with the option to be adopted retrospectively. The Company is currently evaluating the impact of ASU 2023-09 on its related disclosures.
In November 2024, the FASB issued Accounting Standards Update No. 2024-03, “Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency regarding the expense captions presented on the consolidated statements of operations. ASU 2024-03 will be effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027 and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact of ASU 2024-03 on its related disclosures.
v3.25.0.1
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)
 12 Months Ended
Dec. 31, 2024
Cash and Cash Equivalents [Abstract]  
Schedule of Cash and Cash Equivalents
Cash, cash equivalents and restricted cash as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Cash
$87,056 $105,959 
Cash equivalents
130,269 207,952 
Total cash and cash equivalents
217,325 313,911 
Restricted cash
357 91 
Total cash, cash equivalents and restricted cash
$217,682 $314,002 
Schedule of Restricted Cash and Cash Equivalents
Cash, cash equivalents and restricted cash as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Cash
$87,056 $105,959 
Cash equivalents
130,269 207,952 
Total cash and cash equivalents
217,325 313,911 
Restricted cash
357 91 
Total cash, cash equivalents and restricted cash
$217,682 $314,002 
v3.25.0.1
MARKETABLE SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale The amortized cost, gross unrealized gains and losses and fair value of investments as of December 31, 2024 and 2023 were as follows (in thousands):
December 31, 2024
Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Short-term marketable securities:
Certificates of deposit$1,282 $— $— $1,282 
Commercial paper8,867 — — 8,867 
Corporate bonds38,505 42 (64)38,483 
Agency bonds1,237 1 — 1,238 
U.S. government securities50,554 177 (20)50,711 
Total short-term marketable securities$100,445 $220 $(84)$100,581 
December 31, 2023
Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Cash equivalents:
U.S. government securities$1,612 $— $— $1,612 
Total cash equivalents1,612 — — 1,612 
Short-term marketable securities:
Certificates of deposit1,537 — — 1,537 
Commercial paper1,058 — — 1,058 
Corporate bonds19,833 16 (92)19,757 
Agency bonds17,660 4 (17)17,647 
U.S. government securities87,414 241 (169)87,486 
Total short-term marketable securities127,502 261 (278)127,485 
Total$129,114 $261 $(278)$129,097 
The contractual maturities for marketable securities classified as available-for-sale as of December 31, 2024 were as follows (in thousands):
Amortized CostFair Value
Due in one year or less$62,392 $62,532 
Due in one to five years38,053 38,049 
Total$100,445 $100,581 
Schedule of Securities in an Unrealized Loss Position
The following tables present gross unrealized losses and fair values for those securities that were in an unrealized loss position as of December 31, 2024 and 2023, aggregated by investment category and the length of time that the individual securities had been in a continuous loss position (in thousands):
December 31, 2024
Less Than 12 months12 Months or GreaterTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Corporate bonds$18,285 $(64)$— $— $18,285 $(64)
U.S. government securities2,038 (20)— — 2,038 (20)
Total$20,323 $(84)$— $— $20,323 $(84)
December 31, 2023
Less Than 12 months12 Months or GreaterTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Corporate bonds$2,130 $(9)$12,104 $(83)$14,234 $(92)
Agency bonds14,409 (17)— — 14,409 (17)
U.S. government securities27,763 (135)6,231 (34)33,994 (169)
Total$44,302 $(161)$18,335 $(117)$62,637 $(278)
v3.25.0.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
The following table represents the fair value of the Company’s financial instruments, including those measured at fair value on a recurring basis, as of December 31, 2024 and 2023 (in thousands):
December 31, 2024December 31, 2023
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents:
Money market funds$102,793 $— $— $102,793 $180,270 $— $— $180,270 
U.S. government securities— — — — — 1,612 — 1,612 
Marketable securities:
Certificates of deposit— 1,282 — 1,282 — 1,537 — 1,537 
Commercial paper— 8,867 — 8,867 — 1,058 — 1,058 
Corporate bonds— 38,483 — 38,483 — 19,757 — 19,757 
Agency bonds— 1,238 — 1,238 — 17,647 — 17,647 
U.S. government securities— 50,711 — 50,711 — 87,486 — 87,486 
Other investments:
Certificates of deposit— 10,000 — 10,000 — 7,500 — 7,500 
Total cash equivalents, marketable securities and other investments$102,793 $110,581 $— $213,374 $180,270 $136,597 $— $316,867 
v3.25.0.1
PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Prepaid expenses$18,615 $14,922 
Certificates of deposit10,000 5,000 
Other current assets15,033 16,751 
Total prepaid expenses and other current assets$43,648 $36,673 
v3.25.0.1
PROPERTY, EQUIPMENT, AND SOFTWARE, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property, Equipment and Software
Property, equipment and software, net as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Capitalized website and internal-use software development costs$299,177 $258,059 
Leasehold improvements(1)
55,875 57,403 
Computer equipment27,272 50,014 
Furniture and fixtures8,911 10,336 
Telecommunication262 4,175 
Software1,104 1,113 
Total392,601 381,100 
Less accumulated depreciation and amortization(1)
(316,932)(312,416)
Property, equipment and software, net$75,669 $68,684 
(1) Leasehold improvements, net was reduced to reflect an impairment of $1.3 million recorded during the year ended December 31, 2024 as a result of the Company’s subleases of certain office space. See Note 10, “Leases,” for further details.
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The changes in the carrying amounts of goodwill during the years ended December 31, 2024 and 2023 were as follows (in thousands):
Year Ended December 31,
20242023
Balance, beginning of period$103,886 $102,328 
Goodwill acquired29,769 — 
Effect of currency translation(2,675)1,558 
Balance, end of period$130,980 $103,886 
Schedule of Intangible Assets
Intangible assets that were not fully amortized as of December 31, 2024 and 2023 consisted of the following (dollars in thousands):
December 31, 2024
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Weighted
Average
Remaining
Life
Business relationships$45,918 $(7,759)$38,159 8.3 years
Developed technology22,309 (8,250)14,059 4.3 years
Licensing agreements6,141 (2,808)3,333 5.2 years
Domain and data licenses3,194 (2,912)282 4.4 years
Trademarks3,877 (923)2,954 10.8 years
Total $81,439 $(22,652)$58,787 
December 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Weighted
Average
Remaining
Life
Business relationships$9,918 $(6,258)$3,660 5.2 years
Developed technology7,709 (7,709)— 0.0 years
Licensing agreements6,129 (2,151)3,978 6.2 years
Domain and data licenses2,869 (2,869)— 0.0 years
Trademarks877 (877)— 0.0 years
Total$27,502 $(19,864)$7,638 
Schedule of Future Amortization Expense
As of December 31, 2024, estimated future amortization expense was as follows (in thousands):
2025$9,857 
20269,833 
20279,833 
20289,437 
20294,668 
Thereafter15,159 
   Total amortization $58,787 
v3.25.0.1
ACQUISITION (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Schedule of Purchase Price, Assets Acquired and Liabilities Assumed
The preliminary purchase price allocation, subject to finalization during the measurement period, is as follows (in thousands):
November 26, 2024
Fair value of purchase consideration:
Cash:
Distributed to RepairPal stockholders$63,935 
Paid on behalf of RepairPal stockholders3,812 
Holdbacks13,500 
Total purchase consideration$81,247 
Fair value of net assets acquired:
Cash and cash equivalents$1,548 
Accounts receivable3,759 
Intangibles53,600 
Goodwill29,769 
Other assets570 
Total assets acquired89,246 
Accounts payable and accrued liabilities(3,300)
Deferred tax liability(4,648)
Other liabilities(51)
Total liabilities assumed(7,999)
Net assets acquired$81,247 
Schedule of Acquired Intangible Assets
The amounts assigned to each class of intangible assets acquired and their estimated useful lives are as follows:
Intangible Asset TypeAmount AssignedUseful Life
Business relationships$36,000 8.8 years
Developed technology14,600 4.5 years
Trademarks3,000 11.0 years
Weighted average7.7 years
v3.25.0.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease Cost and Supplemental Cash Flow Information
The components of lease cost, net for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):
Year Ended December 31,
202420232022
Operating lease cost$18,617 $33,694 $40,819 
Short-term lease cost (12 months or less)392 396 1,065 
Sublease income(13,873)(13,551)(12,152)
   Total lease cost, net$5,136 $20,539 $29,732 
Supplemental cash flow information related to leases for the years ended December 31, 2024, 2023 and 2022 was as follows (in thousands):
Year Ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$42,725 $45,410 $49,900 
Lessee, Operating Lease, Liability, Maturity
As of December 31, 2024, maturities of lease liabilities were as follows (in thousands):
2025$22,189 
20267,254 
20277,140 
20285,836 
20292,661 
Thereafter1,533 
Total minimum lease payments46,613 
Less imputed interest(3,464)
Present value of lease liabilities$43,149 
Assets And Liabilities, Lessee Information
As of December 31, 2024 and 2023, the weighted-average remaining lease term and weighted-average discount rate were as follows:
December 31, 2024December 31, 2023
Weighted-average remaining lease term (years) — operating leases3.33.7
Weighted-average discount rate — operating leases5.1 %5.1 %
v3.25.0.1
OTHER NON-CURRENT ASSETS (Tables)
 12 Months Ended
Dec. 31, 2024
Other Assets, Noncurrent Disclosure [Abstract]  
Schedule of Other Non-current Assets
Other non-current assets as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Deferred tax assets$139,588 $119,449 
Deferred contract costs24,156 28,203 
Other non-current assets13,396 14,074 
Total other non-current assets$177,140 $161,726 
v3.25.0.1
CONTRACT BALANCES (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Allowance for Doubtful Accounts
The changes in the allowance for doubtful accounts during the years ended December 31, 2024, 2023 and 2022, were as follows (in thousands):
Year Ended December 31,
202420232022
Balance, beginning of period$13,768 $9,277 $7,153 
Add: provision for doubtful accounts45,614 40,702 25,006 
Less: write-offs, net of recoveries(44,081)(36,211)(22,882)
Balance, end of period$15,301 $13,768 $9,277 
Schedule of Contract with Customer, Liability
The changes in short-term deferred revenue during the years ended December 31, 2024 and 2023 were as follows (in thousands):
Year Ended December 31,
20242023
Balance, beginning of period$3,821 $5,200 
Less: recognition of deferred revenue from beginning balance(3,527)(4,936)
Add: net increase in current period contract liabilities2,679 3,557 
Balance, end of period$2,973 $3,821 
v3.25.0.1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Schedule of Accounts Payable and Accrued Liabilities
Accounts payable and accrued liabilities as of December 31, 2024 and 2023 consisted of the following (in thousands):
December 31,
2024		December 31,
2023
Accounts payable$11,904 $11,868 
Employee-related liabilities85,396 79,081 
Taxes payable9,528 1,920 
Accrued cost of revenue8,559 8,133 
Accrued legal settlements98 15,085 
Other accrued liabilities15,837 16,722 
Total accounts payable and accrued liabilities$131,322 $132,809 
v3.25.0.1
STOCKHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Stock by Class
The following table presents the number of shares authorized and issued as of December 31, 2024 and 2023 (in thousands):
December 31, 2024December 31, 2023
Shares
Authorized		Shares
Issued		Shares
Authorized		Shares
Issued
Common stock, $0.000001 par value
200,000 65,792 200,000 68,864 
Undesignated preferred stock10,000 — 10,000 — 
Schedule of Common Stock Reserved for Future Issuance
As of December 31, 2024, the Company had reserved shares of common stock for future issuances in connection with the following (in thousands):
Number of Shares
Stock options outstanding2,464 
RSUs and PRSUs outstanding6,715 
Available for future equity award grants11,946 
Available for future ESPP offerings1,468 
Total reserved for future issuance22,593 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions For the year ended December 31, 2022, the weighted-average assumptions used for the Black-Scholes-Merton option valuation model were as follows:
Dividend yield— 
Annual risk-free rate3.0 %
Expected volatility50.4 %
Expected term (years)6.0
Schedule of Stock Option Activity
A summary of stock option activity for the year ended December 31, 2024 is as follows:
Number of
Shares (in thousands)		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term (in
years)		Aggregate
Intrinsic
Value (in
thousands)
Outstanding at December 31, 20232,543 $34.94 3.6$33,100 
Exercised(37)33.44 
Canceled(42)65.40 
Outstanding at December 31, 20242,464 $34.44 2.6$14,407 
Options vested and exercisable at December 31, 20242,453 $34.43 2.6$14,379 
Summary of RSU Activity A summary of RSU and PRSU activity for the year ended December 31, 2024 is as follows (in thousands, except per share amounts):
Number of
Shares
Weighted-
Average Grant
Date Fair Value
Nonvested at December 31, 20239,961 $32.61 
Granted2,290 43.79 
Vested(1)
(4,902)32.87 
Canceled(634)34.03 
Nonvested at December 31, 2024(2)
6,715 $36.10 
(1)    Includes 2,039,720 shares that vested but were not issued due to the Company’s use of net share settlement for payment of employee taxes.
(2)    Includes 822,408 PRSUs.
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
The following table summarizes the effects of stock-based compensation expense related to stock-based awards on the consolidated statements of operations during the periods presented (in thousands):
Year Ended December 31,
202420232022
Cost of revenue$5,209 $5,274 $4,761 
Sales and marketing33,436 35,187 33,621 
Product development85,510 97,515 86,871 
General and administrative34,038 35,475 30,837 
Total stock-based compensation recorded to income before incomes taxes158,193 173,451 156,090 
Benefit from income taxes(29,409)(34,474)(33,792)
Total stock-based compensation recorded to net income$128,784 $138,977 $122,298 
v3.25.0.1
OTHER INCOME, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Schedule of Other Income, Net
Other income, net for the years ended December 31, 2024, 2023 and 2022 consisted of the following (in thousands):
Year Ended December 31,
202420232022
Interest income, net$20,921 $19,571 $5,762 
Transaction (loss) gain on foreign exchange, net(550)49 (130)
Release of nonrecurring tax reserve(1)
3,102 — — 
Other non-operating income, net8,442 6,419 2,793 
Other income, net$31,915 $26,039 $8,425 
(1)    Represents the release of a reserve related to a one-time payroll tax credit.
v3.25.0.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) before Income Taxes
The following table presents domestic and foreign components of income before income taxes for the periods presented (in thousands):
Year Ended December 31,
202420232022
United States$203,177 $131,459 $89,215 
Foreign(20,217)(26,377)(22,437)
Total income before income taxes$182,960 $105,082 $66,778 
Income Tax Provision (Benefit)
The income tax provision is composed of the following (in thousands):
Year Ended December 31,
202420232022
Current:
Federal$61,873 $20,466 $74,464 
State8,020 3,934 11,070 
Foreign5,137 3,659 1,518 
Total current tax75,030 28,059 87,052 
Deferred:
Federal(24,747)(19,934)(51,217)
State680 (2,085)(5,281)
Foreign(853)(131)(123)
Total deferred tax(24,920)(22,150)(56,621)
Total provision for income taxes
$50,110 $5,909 $30,431 
Reconciliation of Effective Income Tax Rate
The following table presents a reconciliation of the statutory federal rate and the Company’s effective tax rate for the periods presented:
Year Ended December 31,
202420232022
Income tax at federal statutory rate21.00 %21.00 %21.00 %
State tax, net of federal tax effect4.01 (0.02)5.16 
Foreign income tax rate differential(0.68)(1.35)(1.27)
Stock-based compensation2.79 3.26 8.55 
Provision to return true-ups0.33 (12.03)0.46 
Income tax credits(5.78)(11.14)(12.73)
Change in valuation allowance(0.10)0.60 2.24 
Change in uncertain tax positions1.61 0.26 (0.36)
Global intangible low-taxed income (“GILTI”)— — 16.09 
Employee fringe benefits0.54 0.73 0.43 
Other non-deductible expenses2.70 4.19 5.19 
Deferred adjustments1.27 0.57 1.46 
Other (0.30)(0.45)(0.65)
Effective tax rate27.39 %5.62 %45.57 %
Schedule of Deferred Tax Assets and Liabilities The following table presents the significant components of the Company’s deferred tax assets and liabilities for the periods presented (in thousands):
As of December 31,
20242023
Deferred tax assets:
Reserves and others$8,612 $11,026 
Stock-based compensation15,050 17,564 
Net operating loss carryforward6,228 1,365 
Tax credit carryforward29,810 35,087 
Capitalized research and development140,813 100,168 
Operating lease liabilities9,140 20,402 
Gross deferred tax assets209,653 185,612 
Valuation allowance(34,743)(34,927)
Total deferred tax assets174,910 150,685 
Deferred tax liabilities: 
Depreciation and amortization(24,329)(12,979)
Deferred contract costs(6,250)(7,372)
Operating lease right-of-use assets(4,747)(10,943)
Total deferred tax liabilities(35,326)(31,294)
Net deferred tax assets$139,584 $119,391 
Schedule of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
Year Ended December 31,
202420232022
Balance at the beginning of the year$64,459 $59,764 $52,605 
Increase (decrease) based on tax positions related to the prior year
91 (2,146)61 
Increase based on tax positions related to the current year11,641 6,841 7,455 
Decrease from tax authorities’ settlements
(508)— — 
Lapse of statute of limitations— — (357)
Balance at the end of the year$75,683 $64,459 $59,764 
v3.25.0.1
NET INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share
The following tables present the calculation of basic and diluted net income per share attributable to common stockholders for the periods presented (in thousands, except per share data):
Year Ended December 31,
202420232022
Basic net income per share:
Net income attributable to common stockholders$132,850 $99,173 $36,347 
Shares used in computation:
Weighted-average common shares outstanding67,415 69,221 70,867 
Basic net income per share attributable to common stockholders:$1.97 $1.43 $0.51 
Year Ended December 31,
202420232022
Diluted net income per share:
Net income attributable to common stockholders$132,850 $99,173 $36,347 
Shares used in computation:
Weighted-average common shares outstanding67,415 69,221 70,867 
Stock options334 331 474 
RSUs2,861 4,042 2,058 
ESPP1 2 3 
Number of shares used in diluted calculation70,611 73,596 73,402 
Diluted net income per share attributable to common stockholders:$1.88 $1.35 $0.50 
Schedule of Anti-dilutive Securities
The following stock-based instruments were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented (in thousands):
Year Ended December 31,
202420232022
Stock options674 791 2,030 
RSUs1,559 424 853 
v3.25.0.1
INFORMATION ABOUT SEGMENT, REVENUE AND GEOGRAPHIC AREAS (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The following table presents a reconciliation of segment net income to net income attributable to common stockholders for the periods presented (in thousands):
Year Ended December 31,
202420232022
Net revenue
$1,412,064 $1,337,062 $1,193,506 
Less:
Employee expense (exclusive of stock-based compensation)(1)
689,161 672,833 600,975 
Cost of revenue (exclusive of depreciation and amortization and stock-based compensation)
118,475 108,955 100,944 
Stock-based compensation
158,193 173,451 156,090 
Other segment items(2)
222,868 234,557 223,867 
Depreciation and amortization
40,407 42,184 44,852 
Provision for income taxes
50,110 5,909 30,431 
Segment net income
132,850 99,173 36,347 
Reconciliation of segment net income to net income attributable to common stockholders
Adjustments and reconciling items
— — — 
Net income attributable to common stockholders
$132,850 $99,173 $36,347 
(1)    Includes expense related to employees working in the sales and marketing, product development and general and administrative departments and excludes expense related to employees working in the infrastructure department whose costs are included in the cost of revenue (exclusive of depreciation and amortization and stock-based compensation) line.
(2)    Includes marketing, facilities, travel and entertainment, consulting and professional services, hardware and software, bad debt, litigation settlement, asset impairment, other operating expenses and other income (expense).
Schedule of Revenue by Product Line
The following table presents the Company’s net revenue by major product line (and by category for advertising revenue) for the periods presented (in thousands):
Year Ended December 31,
202420232022
Net revenue by product:
Advertising revenue by category:
Services$879,092 $793,112 $693,810 
Restaurants, Retail & Other469,928 483,406 440,593 
Advertising1,349,020 1,276,518 1,134,403 
Other(1)
63,044 60,544 59,103 
Total net revenue$1,412,064 $1,337,062 $1,193,506 
(1)    For the year ended December 31, 2024, other revenue includes revenue generated from transactions with consumers, which the Company reported separately as transactions revenue in prior periods. Prior-period amounts in the table above have been reclassified to conform to the current-period presentation.
Schedule of Net Revenue by Geographic Region
The following table presents the Company’s net revenue by major geographic region for the periods presented (in thousands):
Year Ended December 31,
202420232022
United States$1,401,531 $1,327,263 $1,185,202 
All other countries10,533 9,799 8,304 
Total net revenue$1,412,064 $1,337,062 $1,193,506 
Schedule of Long-Lived Assets by Geographic Region
The following table presents the Company’s long-lived assets by major geographic region as of December 31, 2024 and 2023 (in thousands):
As of December 31,
20242023
United States$71,641 $62,464 
All other countries4,028 6,220 
Total long-lived assets$75,669 $68,684 
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Accounts Receivable, Net and Payment Terms) (Details)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Line Items]  
Contracts invoiced in arrears, duration 1 month
Advertising  
Accounting Policies [Line Items]  
Contracts invoiced in arrears, duration 1 month
Payment collection after billing period, duration 30 days
Transactions  
Accounting Policies [Line Items]  
Payment collection after billing period, duration 30 days
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Deferred Contract Costs) (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Line Items]    
Capitalized contract cost, amortization period 12 months  
Impairment $ 0 $ 0
Maximum    
Accounting Policies [Line Items]    
Capitalized contract cost, amortization period 32 months  
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Property, Equipment and Software) (Details)
Dec. 31, 2024
Leasehold improvements  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 10 years
Capitalized website and internal-use software development costs  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 3 years
Minimum  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 3 years
Maximum  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 5 years
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Leases) (Details)
 12 Months Ended
Dec. 31, 2024
lease
Accounting Policies [Abstract]  
Renewal term 5 years
Number of agreements with option to terminate 1
Period of termination notice 12 months
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Goodwill and Intangible Assets) (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
Finite-Lived Intangible Assets [Line Items]  
Goodwill impairment loss $ 0
Impairment of intangible assets $ 0
Minimum  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets, useful life 2 years
Maximum  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets, useful life 12 years
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Revenue Recognition) (Details)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Contracts invoiced in arrears, duration 1 month
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Research and Development) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]      
Product development $ 310.5 $ 320.6 $ 294.5
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Stock-Based Compensation) (Details)
Dec. 31, 2024
award_type
Accounting Policies [Abstract]  
Types of performing restricted stock units 2
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Advertising Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]      
Advertising expense $ 87.8 $ 65.7 $ 71.1
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Employee Benefit Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]      
Employer contributions $ 14.9 $ 9.7 $ 8.7
v3.25.0.1
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash and Cash Equivalents [Abstract]        
Cash $ 87,056 $ 105,959    
Cash equivalents 130,269 207,952    
Total cash and cash equivalents 217,325 313,911    
Restricted cash 357 91    
Total cash, cash equivalents and restricted cash $ 217,682 $ 314,002 $ 307,138 $ 480,641
v3.25.0.1
MARKETABLE SECURITIES (Schedule of Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investments) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost   $ 129,114
Gross Unrealized Gains   261
Gross Unrealized Losses   (278)
Total $ 100,581 129,097
Cash equivalents:    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost   1,612
Gross Unrealized Gains   0
Gross Unrealized Losses   0
Total   1,612
Cash equivalents: | U.S. government securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost   1,612
Gross Unrealized Gains   0
Gross Unrealized Losses   0
Total   1,612
Short-term marketable securities:    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 100,445 127,502
Gross Unrealized Gains 220 261
Gross Unrealized Losses (84) (278)
Total 100,581 127,485
Short-term marketable securities: | U.S. government securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 50,554 87,414
Gross Unrealized Gains 177 241
Gross Unrealized Losses (20) (169)
Total 50,711 87,486
Short-term marketable securities: | Certificates of deposit    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 1,282 1,537
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Total 1,282 1,537
Short-term marketable securities: | Commercial paper    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 8,867 1,058
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Total 8,867 1,058
Short-term marketable securities: | Corporate bonds    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 38,505 19,833
Gross Unrealized Gains 42 16
Gross Unrealized Losses (64) (92)
Total 38,483 19,757
Short-term marketable securities: | Agency bonds    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 1,237 17,660
Gross Unrealized Gains 1 4
Gross Unrealized Losses 0 (17)
Total $ 1,238 $ 17,647
v3.25.0.1
MARKETABLE SECURITIES (Schedule of Securities in an Unrealized Loss Position) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Fair Value    
Less Than 12 months $ 20,323 $ 44,302
12 Months or Greater 0 18,335
Total 20,323 62,637
Unrealized Loss    
Less Than 12 months (84) (161)
12 Months or Greater 0 (117)
Total (84) (278)
Corporate bonds    
Fair Value    
Less Than 12 months 18,285 2,130
12 Months or Greater 0 12,104
Total 18,285 14,234
Unrealized Loss    
Less Than 12 months (64) (9)
12 Months or Greater 0 (83)
Total (64) (92)
Agency bonds    
Fair Value    
Less Than 12 months   14,409
12 Months or Greater   0
Total   14,409
Unrealized Loss    
Less Than 12 months   (17)
12 Months or Greater   0
Total   (17)
U.S. government securities    
Fair Value    
Less Than 12 months 2,038 27,763
12 Months or Greater 0 6,231
Total 2,038 33,994
Unrealized Loss    
Less Than 12 months (20) (135)
12 Months or Greater 0 (34)
Total $ (20) $ (169)
v3.25.0.1
MARKETABLE SECURITIES (Marketable Securities) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Amortized Cost    
Due in one year or less $ 62,392  
Due in one to five years 38,053  
Total 100,445  
Fair Value    
Due in one year or less 62,532  
Due in one to five years 38,049  
Total $ 100,581 $ 129,097
v3.25.0.1
MARKETABLE SECURITIES (Narrative) (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]      
Available-for-sale, allowance for credit loss $ 0 $ 0 $ 0
v3.25.0.1
FAIR VALUE MEASUREMENTS (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: $ 100,581 $ 129,097
Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total cash equivalents, marketable securities and other investments 213,374 316,867
Recurring | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 1,282 1,537
Other investments: 10,000 7,500
Recurring | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 8,867 1,058
Recurring | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 38,483 19,757
Recurring | Agency bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 1,238 17,647
Recurring | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 50,711 87,486
Recurring | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 102,793 180,270
Recurring | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 1,612
Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total cash equivalents, marketable securities and other investments 102,793 180,270
Recurring | Level 1 | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Other investments: 0 0
Recurring | Level 1 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Recurring | Level 1 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Recurring | Level 1 | Agency bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Recurring | Level 1 | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Recurring | Level 1 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 102,793 180,270
Recurring | Level 1 | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 0
Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total cash equivalents, marketable securities and other investments 110,581 136,597
Recurring | Level 2 | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 1,282 1,537
Other investments: 10,000 7,500
Recurring | Level 2 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 8,867 1,058
Recurring | Level 2 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 38,483 19,757
Recurring | Level 2 | Agency bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 1,238 17,647
Recurring | Level 2 | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 50,711 87,486
Recurring | Level 2 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 0
Recurring | Level 2 | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 1,612
Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total cash equivalents, marketable securities and other investments 0 0
Recurring | Level 3 | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Other investments: 0 0
Recurring | Level 3 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Recurring | Level 3 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Recurring | Level 3 | Agency bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Recurring | Level 3 | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities: 0 0
Recurring | Level 3 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: 0 0
Recurring | Level 3 | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents: $ 0 $ 0
v3.25.0.1
PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Prepaid expenses $ 18,615 $ 14,922
Certificates of deposit 10,000 5,000
Other current assets 15,033 16,751
Total prepaid expenses and other current assets $ 43,648 $ 36,673
v3.25.0.1
PROPERTY, EQUIPMENT AND SOFTWARE, NET (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Abstract]      
Capitalized website and internal-use software costs $ 43,700 $ 30,000 $ 28,400
Amortization expense related to website and internal-use software 28,600 28,700 29,600
Wrote off of capitalized website and internal-use software costs 2,600 1,300 1,000
Property, Plant and Equipment [Line Items]      
Depreciation and amortization 40,407 42,184 44,852
Property, Equipment and Software      
Property, Plant and Equipment [Line Items]      
Depreciation and amortization $ 37,600 $ 40,800 $ 43,200
v3.25.0.1
PROPERTY, EQUIPMENT AND SOFTWARE, NET (Summary) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Property, equipment and software $ 392,601 $ 381,100
Less accumulated depreciation and amortization (316,932) (312,416)
Property, equipment and software, net 75,669 68,684
Impairment of leasehold 1,300  
Capitalized website and internal-use software development costs    
Property, Plant and Equipment [Line Items]    
Property, equipment and software 299,177 258,059
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, equipment and software 55,875 57,403
Computer equipment    
Property, Plant and Equipment [Line Items]    
Property, equipment and software 27,272 50,014
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Property, equipment and software 8,911 10,336
Telecommunication    
Property, Plant and Equipment [Line Items]    
Property, equipment and software 262 4,175
Software    
Property, Plant and Equipment [Line Items]    
Property, equipment and software $ 1,104 $ 1,113
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS (Schedule of Goodwill) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Balance, beginning of period $ 103,886 $ 102,328
Goodwill acquired 29,769 0
Effect of currency translation (2,675) 1,558
Balance, end of period $ 130,980 $ 103,886
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS (Schedule of Intangible Assets) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 81,439 $ 27,502
Accumulated Amortization (22,652) (19,864)
Net Carrying Amount 58,787 7,638
Business relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 45,918 9,918
Accumulated Amortization (7,759) (6,258)
Net Carrying Amount $ 38,159 $ 3,660
Weighted Average Remaining Life (in years) 8 years 3 months 18 days 5 years 2 months 12 days
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 22,309 $ 7,709
Accumulated Amortization (8,250) (7,709)
Net Carrying Amount $ 14,059 $ 0
Weighted Average Remaining Life (in years) 4 years 3 months 18 days 0 years
Licensing agreements    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 6,141 $ 6,129
Accumulated Amortization (2,808) (2,151)
Net Carrying Amount $ 3,333 $ 3,978
Weighted Average Remaining Life (in years) 5 years 2 months 12 days 6 years 2 months 12 days
Domain and data licenses    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 3,194 $ 2,869
Accumulated Amortization (2,912) (2,869)
Net Carrying Amount $ 282 $ 0
Weighted Average Remaining Life (in years) 4 years 4 months 24 days 0 years
Trademarks    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 3,877 $ 877
Accumulated Amortization (923) (877)
Net Carrying Amount $ 2,954 $ 0
Weighted Average Remaining Life (in years) 10 years 9 months 18 days 0 years
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS (Schedule of Intangible Assets) (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense $ 2.8 $ 1.4 $ 1.7
v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS (Schedule of Future Amortization Expense) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]    
2025 $ 9,857  
2026 9,833  
2027 9,833  
2028 9,437  
2029 4,668  
Thereafter 15,159  
Net Carrying Amount $ 58,787 $ 7,638
v3.25.0.1
ACQUISITION (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Nov. 26, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition [Line Items]        
Net revenue   $ 1,412,064 $ 1,337,062 $ 1,193,506
Net income   132,850 $ 99,173 $ 36,347
RepairPal, Inc.        
Business Acquisition [Line Items]        
Cash consideration $ 80,000      
Net assets acquired 81,247      
Adjustment, consideration transferred 1,200      
Holdback amount 13,500      
Acquisition-related transaction costs   $ 1,300    
RepairPal, Inc. | 15-Month Period After Closing        
Business Acquisition [Line Items]        
Holdback amount 8,000      
RepairPal, Inc. | 24-Month Period After Closing        
Business Acquisition [Line Items]        
Holdback amount 2,000      
RepairPal, Inc. | 30 Days Following Final, Non-Appealable Resolution Of Certain Legal Matters        
Business Acquisition [Line Items]        
Holdback amount $ 3,500      
v3.25.0.1
ACQUISITION (Summary of Purchase Price and Net Assets Acquired) (Details) - USD ($)
$ in Thousands
Nov. 26, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair value of net assets acquired:        
Goodwill   $ 130,980 $ 103,886 $ 102,328
RepairPal, Inc.        
Cash:        
Distributed to RepairPal stockholders $ 63,935      
Paid on behalf of RepairPal stockholders 3,812      
Holdbacks 13,500      
Total purchase consideration 81,247      
Fair value of net assets acquired:        
Cash and cash equivalents 1,548      
Accounts receivable 3,759      
Intangibles 53,600      
Goodwill 29,769      
Other assets 570      
Total assets acquired 89,246      
Accounts payable and accrued liabilities (3,300)      
Deferred tax liability (4,648)      
Other liabilities (51)      
Total liabilities assumed (7,999)      
Net assets acquired $ 81,247      
v3.25.0.1
ACQUISITION (Summary of Estimated Useful lives of Intangible Assets Acquired ) (Details) - RepairPal, Inc.
$ in Thousands
Nov. 26, 2024
USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]  
Amount Assigned $ 53,600
Useful Life 7 years 8 months 12 days
Business relationships  
Acquired Finite-Lived Intangible Assets [Line Items]  
Amount Assigned $ 36,000
Useful Life 8 years 9 months 18 days
Developed technology  
Acquired Finite-Lived Intangible Assets [Line Items]  
Amount Assigned $ 14,600
Useful Life 4 years 6 months
Trademarks  
Acquired Finite-Lived Intangible Assets [Line Items]  
Amount Assigned $ 3,000
Useful Life 11 years
v3.25.0.1
LEASES (Lease Cost) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease cost $ 18,617 $ 33,694 $ 40,819
Short-term lease cost (12 months or less) 392 396 1,065
Sublease income (13,873) (13,551) (12,152)
Total lease cost, net 5,136 20,539 29,732
Leasehold improvements $ 1,300 $ 2,300 $ 1,500
v3.25.0.1
LEASES (Supplemental Cash Flow Information) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases $ 42,725 $ 45,410 $ 49,900
v3.25.0.1
LEASES (Operating Lease Maturities) (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Leases [Abstract]  
2025 $ 22,189
2026 7,254
2027 7,140
2028 5,836
2029 2,661
Thereafter 1,533
Total minimum lease payments 46,613
Less imputed interest (3,464)
Present value of lease liabilities $ 43,149
v3.25.0.1
LEASES (Weighted-Average Remaining Lease Terms) (Details)
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Weighted-average remaining lease term (years) — operating leases 3 years 3 months 18 days 3 years 8 months 12 days
Weighted-average discount rate — operating leases 5.10% 5.10%
v3.25.0.1
LEASES (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Asset impairment charges $ 5,914 $ 23,563 $ 10,464
Reduction to right of use assets 4,600 21,300 9,000
Lessee, Lease, Description [Line Items]      
Operating lease liabilities 39,230 $ 39,734 $ 40,057
Early Termination Option      
Lessee, Lease, Description [Line Items]      
Operating lease, right-of-use asset 4,600    
Operating lease liabilities $ 4,600    
v3.25.0.1
OTHER NON-CURRENT ASSETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Other Assets, Noncurrent Disclosure [Abstract]    
Deferred tax assets $ 139,588 $ 119,449
Deferred contract costs 24,156 28,203
Other non-current assets 13,396 14,074
Total other non-current assets $ 177,140 $ 161,726
v3.25.0.1
CONTRACT BALANCES (Schedule of Changes in Allowance for Doubtful Accounts) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts:      
Balance, beginning of period $ 13,768 $ 9,277 $ 7,153
Add: provision for doubtful accounts 45,614 40,702 25,006
Less: write-offs, net of recoveries (44,081) (36,211) (22,882)
Balance, end of period $ 15,301 $ 13,768 $ 9,277
v3.25.0.1
CONTRACT BALANCES (Changes in Deferred Revenue) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Change in Contract with Customer, Liability [Roll Forward]    
Balance, beginning of period $ 3,821 $ 5,200
Less: recognition of deferred revenue from beginning balance (3,527) (4,936)
Add: net increase in current period contract liabilities 2,679 3,557
Balance, end of period $ 2,973 $ 3,821
v3.25.0.1
CONTRACT BALANCES (Narrative) (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Contract asset $ 0 $ 0
Contract liability $ 0 $ 0
v3.25.0.1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Payables and Accruals [Abstract]    
Accounts payable $ 11,904 $ 11,868
Employee-related liabilities 85,396 79,081
Taxes payable 9,528 1,920
Accrued cost of revenue 8,559 8,133
Accrued legal settlements 98 15,085
Other accrued liabilities 15,837 16,722
Total accounts payable and accrued liabilities $ 131,322 $ 132,809
v3.25.0.1
COMMITMENTS AND CONTINGENCIES (Legal Proceedings) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jan. 18, 2024
Jul. 17, 2023
Jun. 30, 2024
Dec. 31, 2023
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2022
Loss Contingencies [Line Items]              
Accrued legal settlements       $ 15,085 $ 98    
CIPA Action              
Loss Contingencies [Line Items]              
Payments for legal settlements     $ 15,000        
CIPA Action | Pending Litigation              
Loss Contingencies [Line Items]              
Estimate of loss contingencies           $ 15,000  
Proceeds from insurance settlement $ 3,900            
Amount awarded to other party   $ 15,000          
Loss contingency accrual           $ 15,000 $ 4,000
Loss contingency accrual, increase       $ 11,000      
v3.25.0.1
COMMITMENTS AND CONTINGENCIES (Revolving Credit Facility) (Details)
Apr. 28, 2023
USD ($)
Dec. 31, 2024
USD ($)
Minimum    
Line of Credit Facility [Line Items]    
Commitment fee percentage (in percent) 0.20%  
Maximum    
Line of Credit Facility [Line Items]    
Commitment fee percentage (in percent) 0.25%  
Revolving Credit Facility    
Line of Credit Facility [Line Items]    
Line of credit facility term 5 years  
Line of credit facility, maximum borrowing capacity $ 125,000,000  
Letters of credit outstanding   $ 14,000,000
Line of credit   0
Short-erm debt   $ 0
Revolving Credit Facility | Minimum    
Line of Credit Facility [Line Items]    
Debt instrument, covenant, interest coverage ratio   3.00
Revolving Credit Facility | Maximum    
Line of Credit Facility [Line Items]    
Debt instrument, covenant, leverage ratio   3.75
Revolving Credit Facility | Subject to Certain Conditions    
Line of Credit Facility [Line Items]    
Line of credit facility, additional increase in maximum borrowing capacity $ 250,000,000  
Revolving Credit Facility | For a Certain Period Following Significant Acquisitions | Maximum    
Line of Credit Facility [Line Items]    
Debt instrument, covenant, leverage ratio   4.25
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)    
Line of Credit Facility [Line Items]    
Basis spread 0.10%  
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum    
Line of Credit Facility [Line Items]    
Margin 1.25%  
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum    
Line of Credit Facility [Line Items]    
Margin 1.50%  
Revolving Credit Facility | Base Rate | Minimum    
Line of Credit Facility [Line Items]    
Basis spread 0.25%  
Revolving Credit Facility | Base Rate | Maximum    
Line of Credit Facility [Line Items]    
Basis spread 0.50%  
Letter of Credit    
Line of Credit Facility [Line Items]    
Line of credit facility, maximum borrowing capacity $ 25,000,000  
Letter of Credit | Minimum    
Line of Credit Facility [Line Items]    
Outstanding fee percentage (in percent) 1.25%  
Letter of Credit | Maximum    
Line of Credit Facility [Line Items]    
Outstanding fee percentage (in percent) 1.50%  
Bilateral Letter of Credit    
Line of Credit Facility [Line Items]    
Line of credit facility, maximum borrowing capacity $ 25,000,000  
v3.25.0.1
STOCKHOLDERS' EQUITY (Schedule of Stock by Class) (Details) - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Stockholders' Equity Note [Abstract]    
Common Stock, Shares Authorized (in shares) 200,000,000 200,000,000
Common Stock, Shares Issued (in shares) 65,792,000 68,864,000
Undesignated Preferred Stock, Shares Authorized (in shares) 10,000,000 10,000,000
Undesignated Preferred Stock, Shares Issued (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.000001 $ 0.000001
v3.25.0.1
STOCKHOLDERS' EQUITY (Award Compensation Narrative) (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
numberOfSchedule
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 31, 2022
USD ($)
$ / shares
shares
Feb. 06, 2023
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Repurchases of common stock $ 251,181,000 $ 199,999,000 $ 200,006,000  
Treasury stock (in shares) | shares 100,860 0    
Share repurchase program, excise tax   $ 0    
Stock reserved for future issuance (in shares) | shares       1,400,000
Capitalized stock-based compensation $ 11,700,000 9,700,000 8,900,000  
Stock Options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of vesting schedules | numberOfSchedule 2      
Exercisable period 10 years      
Granted (in shares) | shares 0      
Intrinsic value of options exercised $ 300,000 6,500,000 $ 3,200,000  
Granted (in shares) | $ / shares     $ 16.07  
Unrecognized compensation costs $ 200,000      
Unrecognized compensation costs, period for recognition 9 months 18 days      
Stock Options | End of year one        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting rate 25.00%      
RSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 4 years      
Number of vesting schedules | numberOfSchedule 2      
Unrecognized compensation costs $ 207,500,000      
Unrecognized compensation costs, period for recognition 1 year 9 months 18 days      
Aggregate fair value of vested RSUs $ 177,300,000 $ 207,400,000 $ 155,000,000.0  
RSUs | End of year one        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting rate 25.00%      
Performance Shares        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 4 years      
Trading days 20 days      
Performance Shares | Total Shareholder Return        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 3 years      
Performance period 3 years      
ESPP        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Subscription rate of eligible compensation 15.00%      
Period of plan limitations 6 months      
Purchase price, percentage of fair market value 85.00%      
Number of shares purchased (in shares) | shares 614,339 604,111 627,485  
Weighted-average purchase price (in dollars per share) | $ / shares $ 31.82 $ 31.79 $ 25.55  
Stock-based compensation $ 3,300,000 $ 3,300,000 $ 2,800,000  
Minimum | Performance Shares        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Target vesting range 0.00%      
Maximum | Stock Options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 4 years      
Maximum | Performance Shares        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Target vesting range 200.00%      
July 2017 Share Repurchase Program        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock repurchase program, authorized amount $ 1,950,000,000      
Remaining authorized repurchase amount $ 330,800,000      
Stock repurchased (in shares) | shares 6,686,518      
Repurchases of common stock $ 250,900,000 $ 200,000,000.0    
Repurchase and retirement of common stock (in shares) | shares 6,585,658 5,626,851    
v3.25.0.1
STOCKHOLDERS' EQUITY (Schedule of Shares Reserved for Issuance) (Details)
Dec. 31, 2024
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares reserved for future issuance (in shares) 22,593,000
Stock options outstanding  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares reserved for future issuance (in shares) 2,464,000
RSUs and PRSUs outstanding  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares reserved for future issuance (in shares) 6,715,000
Available for future equity award grants  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares reserved for future issuance (in shares) 11,946,000
Available for future ESPP offerings  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares reserved for future issuance (in shares) 1,468,000
v3.25.0.1
STOCKHOLDERS' EQUITY (Schedule of Fair Value Assumptions) (Details) - Stock Options
 12 Months Ended
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Dividend yield 0.00%
Annual risk-free rate 3.00%
Expected volatility 50.40%
Expected term (years) 6 years
v3.25.0.1
STOCKHOLDERS' EQUITY (Schedule of Stock Option Activity) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Number of Shares (in thousands)    
Outstanding, beginning balance (in shares) 2,543  
Exercised (in shares) (37)  
Canceled (in shares) (42)  
Outstanding, ending balance (in shares) 2,464 2,543
Options vested and exercisable (in shares) 2,453  
Weighted- Average Exercise Price    
Outstanding, beginning balance (in dollars per share) $ 34.94  
Exercised (in dollars per share) 33.44  
Canceled (in dollars per share) 65.40  
Outstanding, ending balance (in dollars per share) 34.44 $ 34.94
Options vested and exercisable (in dollars per share) $ 34.43  
Weighted- Average Remaining Contractual Term (in years)    
Outstanding, Weighted-Average Remaining Contractual Term (in years) 2 years 7 months 6 days 3 years 7 months 6 days
Options vested and exercisable, Weighted-Average Remaining Contractual Term (in years) 2 years 7 months 6 days  
Aggregate Intrinsic Value (in thousands)    
Outstanding, Aggregate Intrinsic Value $ 14,407 $ 33,100
Options vested and exercisable, Aggregate Intrinsic Value $ 14,379  
v3.25.0.1
STOCKHOLDERS' EQUITY (Schedule of Restricted Stock Units Activity) (Details)
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
RSUs  
Number of Shares  
Nonvested, beginning balance (in shares) 9,961,000
Granted (in shares) 2,290,000
Vested (in shares) (4,902,000)
Canceled (in shares) (634,000)
Nonvested, ending balance (in shares) 6,715,000
Weighted- Average Grant Date Fair Value  
Nonvested, beginning balance (in dollars per share) | $ / shares $ 32.61
Granted (in dollars per share) | $ / shares 43.79
Vested (in dollars per share) | $ / shares 32.87
Canceled (in dollars per share) | $ / shares 34.03
Nonvested, ending balance (in dollars per share) | $ / shares $ 36.10
Shares vested but not issued due to net share settlement for payment of employee taxes (in shares) 2,039,720
Performance Shares  
Number of Shares  
Nonvested, ending balance (in shares) 822,408
v3.25.0.1
STOCKHOLDERS' EQUITY (Schedule of Stock-Based Compensation) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Benefit from income taxes $ (29,409) $ (34,474) $ (33,792)
Total stock-based compensation recorded to net income 128,784 138,977 122,298
Cost of revenue      
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Total stock-based compensation recorded to income before incomes taxes 5,209 5,274 4,761
Sales and marketing      
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Total stock-based compensation recorded to income before incomes taxes 33,436 35,187 33,621
Product development      
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Total stock-based compensation recorded to income before incomes taxes 85,510 97,515 86,871
General and administrative      
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]      
Total stock-based compensation recorded to income before incomes taxes $ 34,038 $ 35,475 $ 30,837
v3.25.0.1
OTHER INCOME, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Income and Expenses [Abstract]      
Interest income, net $ 20,921 $ 19,571 $ 5,762
Transaction (loss) gain on foreign exchange, net (550) 49 (130)
Release of nonrecurring tax reserve 3,102 0 0
Other non-operating income, net 8,442 6,419 2,793
Other income, net $ 31,915 $ 26,039 $ 8,425
v3.25.0.1
INCOME TAXES (Schedule of Income (Loss) before Income Taxes) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
United States $ 203,177 $ 131,459 $ 89,215
Foreign (20,217) (26,377) (22,437)
Income before income taxes $ 182,960 $ 105,082 $ 66,778
v3.25.0.1
INCOME TAXES (Schedule of Income Tax Provision) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current:      
Federal $ 61,873 $ 20,466 $ 74,464
State 8,020 3,934 11,070
Foreign 5,137 3,659 1,518
Total current tax 75,030 28,059 87,052
Deferred:      
Federal (24,747) (19,934) (51,217)
State 680 (2,085) (5,281)
Foreign (853) (131) (123)
Total deferred tax (24,920) (22,150) (56,621)
Total provision for income taxes $ 50,110 $ 5,909 $ 30,431
v3.25.0.1
INCOME TAXES (Reconciliation of the Effective Tax Rate) (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Income tax at federal statutory rate 21.00% 21.00% 21.00%
State tax, net of federal tax effect 4.01% (0.02%) 5.16%
Foreign income tax rate differential (0.68%) (1.35%) (1.27%)
Stock-based compensation 2.79% 3.26% 8.55%
Provision to return true-ups 0.33% (12.03%) 0.46%
Income tax credits (5.78%) (11.14%) (12.73%)
Change in valuation allowance (0.10%) 0.60% 2.24%
Change in uncertain tax positions 1.61% 0.26% (0.36%)
Global intangible low-taxed income (“GILTI”) 0.00% 0.00% 16.09%
Employee fringe benefits 0.54% 0.73% 0.43%
Other non-deductible expenses 2.70% 4.19% 5.19%
Deferred adjustments 1.27% 0.57% 1.46%
Other (0.30%) (0.45%) (0.65%)
Effective tax rate 27.39% 5.62% 45.57%
v3.25.0.1
INCOME TAXES (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Reserves and others $ 8,612 $ 11,026
Stock-based compensation 15,050 17,564
Net operating loss carryforward 6,228 1,365
Tax credit carryforward 29,810 35,087
Capitalized research and development 140,813 100,168
Operating lease liabilities 9,140 20,402
Gross deferred tax assets 209,653 185,612
Valuation allowance (34,743) (34,927)
Total deferred tax assets 174,910 150,685
Deferred tax liabilities:    
Depreciation and amortization (24,329) (12,979)
Deferred contract costs (6,250) (7,372)
Operating lease right-of-use assets (4,747) (10,943)
Total deferred tax liabilities (35,326) (31,294)
Net deferred tax assets $ 139,584 $ 119,391
v3.25.0.1
INCOME TAXES (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Taxes [Line Items]      
Undistributed earnings of foreign subsidiaries $ 39,900,000    
Valuation allowance 34,743,000 $ 34,927,000  
Unrecognized tax benefits that would impact effective tax rate 44,600,000    
Penalties and interest 3,900,000 $ 0 $ 0
Decrease in unrecognized tax benefits is reasonably possible 0    
Domestic      
Income Taxes [Line Items]      
Net operating loss carryforwards 17,100,000    
Domestic | Research      
Income Taxes [Line Items]      
Credit carryforwards 2,400,000    
State      
Income Taxes [Line Items]      
Net operating loss carryforwards 44,200,000    
State | Research      
Income Taxes [Line Items]      
Credit carryforwards $ 70,300,000    
v3.25.0.1
INCOME TAXES (Reconciliation of Unrecognized Benefits) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Balance at the beginning of the year $ 64,459 $ 59,764 $ 52,605
Increase based on tax positions related to the prior year 91   61
(Decrease) based on tax positions related to the prior year   (2,146)  
Increase based on tax positions related to the current year 11,641 6,841 7,455
Decrease from tax authorities’ settlements (508) 0 0
Lapse of statute of limitations 0 0 (357)
Balance at the end of the year $ 75,683 $ 64,459 $ 59,764
v3.25.0.1
NET INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Schedule of Basic and Diluted Net Loss Per Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Basic net income per share:      
Net income attributable to common stockholders $ 132,850 $ 99,173 $ 36,347
Shares used in computation:      
Weighted-average common shares outstanding (in shares) 67,415 69,221 70,867
Basic net income per share attributable to common stockholders (in dollars per share) $ 1.97 $ 1.43 $ 0.51
Diluted net income per share:      
Net income attributable to common stockholders $ 132,850 $ 99,173 $ 36,347
Shares used in computation:      
Weighted-average common shares outstanding (in shares) 67,415 69,221 70,867
Number of shares used in diluted calculation (in shares) 70,611 73,596 73,402
Diluted net income per share attributable to common stockholders (in dollars per share) $ 1.88 $ 1.35 $ 0.50
Stock options      
Shares used in computation:      
Incremental common shares (in shares) 334 331 474
RSUs      
Shares used in computation:      
Incremental common shares (in shares) 2,861 4,042 2,058
ESPP      
Shares used in computation:      
Incremental common shares (in shares) 1 2 3
v3.25.0.1
NET INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Schedule of Anti-Dilutive Employee Stock Awards) (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Stock options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Anti-dilutive awards (in shares) 674 791 2,030
RSUs      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Anti-dilutive awards (in shares) 1,559 424 853
v3.25.0.1
INFORMATION ABOUT SEGMENT, REVENUE AND GEOGRAPHIC AREAS (Narrative) (Details)
 12 Months Ended
Dec. 31, 2024
segment
Segment Reporting [Abstract]  
Number of Operating Segments 1
Number of Reportable Segments 1
v3.25.0.1
INFORMATION ABOUT SEGMENT, REVENUE AND GEOGRAPHIC AREAS (Reconciliation of Segment Income) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Net revenue $ 1,412,064 $ 1,337,062 $ 1,193,506
Cost of revenue (exclusive of depreciation and amortization and stock-based compensation) 123,684 114,229 105,705
Depreciation and amortization 40,407 42,184 44,852
Provision for income taxes 50,110 5,909 30,431
Net income attributable to common stockholders 132,850 99,173 36,347
Reportable Segment      
Segment Reporting Information [Line Items]      
Net revenue 1,412,064 1,337,062 1,193,506
Employee expense (exclusive of stock-based compensation) 689,161 672,833 600,975
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization And Stock-Based Compensation 118,475 108,955 100,944
Total stock-based compensation recorded to income before incomes taxes 158,193 173,451 156,090
Other segment items 222,868 234,557 223,867
Depreciation and amortization 40,407 42,184 44,852
Provision for income taxes 50,110 5,909 30,431
Net income attributable to common stockholders $ 132,850 $ 99,173 $ 36,347
v3.25.0.1
INFORMATION ABOUT SEGMENT, REVENUE AND GEOGRAPHIC AREAS (Net Revenue) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net revenue $ 1,412,064 $ 1,337,062 $ 1,193,506
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net revenue 1,401,531 1,327,263 1,185,202
All other countries      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net revenue 10,533 9,799 8,304
Advertising      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net revenue 1,349,020 1,276,518 1,134,403
Services      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net revenue 879,092 793,112 693,810
Restaurants, Retail & Other      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net revenue 469,928 483,406 440,593
Other      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net revenue $ 63,044 $ 60,544 $ 59,103
v3.25.0.1
INFORMATION ABOUT SEGMENT, REVENUE AND GEOGRAPHIC AREAS (Long-Lived Assets) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets $ 75,669 $ 68,684
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets 71,641 62,464
All other countries    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets $ 4,028 $ 6,220