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Yelp Reports Third Quarter 2021 Financial Results 11/04/2021 Third quarter Net revenue grew 22 % year over year to $ 269 million , resulting in a positive Net income of $ 18 million Adjusted EBITDA increased by 34 % year over year to a record $ 71 million Full year Net revenue outlook narrowed to the high end of the range : $ 1.02 billion to $ 1.03 billion , and full year Adjusted EBITDA 1 outlook raised to $ 233 million to $ 243 million SAN FRANCISCO -- ( BUSINESS WIRE ) -- Yelp Inc. ( NYSE : YELP ) , the company that connects people with great local businesses , today posted its financial results for the third quarter ended September 30 , 2021 in the Q3 2021 Shareholder Letter available on its Investor Relations website at www.yelp-ir.com . " In the third quarter , our teams continued to make progress on our strategic initiatives through an elevated pace of product innovation , " said Jeremy Stoppelman , Yelp co - founder and CEO . “ Net revenue matched our best quarterly performance ever , and for the fourth consecutive quarter we drove record revenue in our Services categories and Self - serve channel . These strong results are a testament to the consistent execution of our distributed teams who have remained focused on delivering more value to our advertisers , while connecting people with great local businesses through Yelp's trusted content . " " Even as we continued to increase our strategic investments in the third quarter , we delivered a 26 % Adjusted EBITDA margin , reflecting our structurally more efficient business , " said David Schwarzbach , Yelp's CFO . " While we expect the macro environment to continue to fluctuate in the short term , our investments aim to drive long - term sustainable growth at attractive margins . " 1 Yelp has not reconciled its Adjusted EBITDA outlook to GAAP Net income ( loss ) because it does not provide an outlook for GAAP Net income ( loss ) due to the uncertainty and potential variability of Other income , net and Provision for ( benefit from ) income taxes , which are reconciling items between Adjusted EBITDA and GAAP Net income ( loss ) . Because Yelp cannot reasonably predict such items , a reconciliation of the non - GAAP financial measure outlook to the corresponding GAAP measure is not available without unreasonable effort . We caution , however , that such items could have a significant impact on the calculation of GAAP Net income ( loss ) . For more information regarding the non - GAAP financial measures discussed in this release , please see " Non - GAAP Financial Measures " below . Quarterly Conference Call Yelp will host a live Q & A session today at 2:00 p.m. Pacific Time to discuss the third quarter financial results and outlook for the fourth quarter and full year of 2021. The webcast of the Q & A can be accessed on the Yelp Investor Relations website at www.yelp-ir.com . A replay of the webcast will be available at the same website . About Yelp Yelp Inc. ( www.yelp.com ) connects people with great local businesses . With unmatched local business information , photos , and review content , Yelp provides a one - stop local platform for consumers to discover , connect , and transact with local businesses of all sizes by making it easy to request a quote , join a waitlist , and make a reservation , appointment , or purchase . Yelp was founded in San Francisco in July 2004 . Yelp intends to make future announcements of material financial and other information through its Investor Relations website . Yelp will also , from time to time , disclose this information through press releases , filings with the Securities and Exchange Commission , conference calls , or webcasts , as required by applicable law . Forward - Looking Statements This press release contains forward - looking statements relating to , among other things , Yelp's future performance , including Yelp's short - term expectations for the macro environment and the ability of its strategic investments to drive long - term sustainable growth , that are based on its current expectations , forecasts , and assumptions that involve risks and uncertainties .