Yelp Statistics (2026): 330.2 Million Reviews, AI Citations and 67 Key Stats

A data roundup of Yelp as a local-search business and an AI data source, taken only from its SEC filings: the 2025 annual report, the Q2 2026 quarterly report, the Q2 2026 earnings release and the Q2 2026 shareholder letter.

Yelp’s net revenue rose 1% to $376 million in Q2 2026, while advertising revenue fell 3% and “other” revenue (data licensing, Hatch, food ordering) nearly doubled, up 98% to a record $33 million (earnings release, shareholder letter). The mix shift is the story. Yelp’s ad clicks have fallen year over year for six straight quarters, its Restaurants, Retail & Other (RR&O) ad base keeps shrinking, and its annual report names Google’s AI Overviews and AI Mode as a risk to traffic. At the same time, Yelp says its reviews now power ChatGPT’s local experience and that it was cited 3.4x as often as the next home services platform in AI answers, in a study it commissioned. For local businesses that is a useful, if self-reported, signal that review platforms feed AI answers. Every figure below has a verbatim quote in our ledger. Yelp reports dollars in thousands, so we show raw figures in tables.

Key takeaways

• $376 million of net revenue in Q2 2026, up 1% year over year (earnings release)
• 98% growth in other revenue to a record $33 million in Q2 2026 (shareholder letter)
• 5% fewer ad clicks in Q2 2026, with average CPC up 1% (shareholder letter)
• 330.2 million cumulative reviews submitted to Yelp by the end of 2025 (10-K)
• 3.4x more AI citations than the next home services platform in Yelp’s Q4 2025 study (shareholder letter)
• 2.4 million Yelp Host calls a year at the July 2026 run rate, more than triple January (shareholder letter)
• $250 million annual run rate target for other revenue by the end of 2028 (shareholder letter)

How big is Yelp, and is it growing?

Yelp is a profitable, mid-sized company with slow growth. It made $1.46 billion in 2025 and expects $1.460 to $1.470 billion in 2026, so full-year growth is roughly flat.

1. Yelp net revenue rose 1% to $376 million in Q2 2026 (earnings release).
2. Q2 2026 net income was $32 million, an 8% margin (earnings release).
3. Adjusted EBITDA fell 9% to $91 million in Q2 2026, a 24% margin (earnings release).
4. Yelp narrowed its 2026 net revenue outlook to $1.460 billion to $1.470 billion (earnings release).
5. 2025 net revenue was $1.46B, up from $1.41B in 2024 and $1.34B in 2023 (10-K). Filing figures are in thousands of dollars.
6. Net income was $145.6M in 2025, up from $132.9M in 2024 (10-K). Filing figures are in thousands of dollars.
7. Adjusted EBITDA was $369.2M in 2025, a 25% margin (10-K). Filing figures are in thousands of dollars.
8. Operating cash flow was $372.0M and free cash flow $323.7M in 2025 (10-K). Filing figures are in thousands of dollars.
9. First-half 2026 net revenue was $737.0M against $728.9M a year earlier (earnings release). Filing figures are in thousands of dollars.
10. Almost all Q2 2026 revenue was from the United States: $373.5M, against $2.0M from other countries (10-Q). Filing figures are in thousands of dollars.
11. No customer accounted for 10% or more of net revenue in Q2 2026 (10-Q).
12. Yelp had 5,168 employees at the end of 2025 (10-K).
13. Q2 2026 operating cash flow was $76 million with $94 million in cash at quarter end (shareholder letter).

Source: Yelp 10-K for 2025, results of operations table. Figures are as printed, in thousands. Checked October 28, 2026.

What it means. Yelp’s growth now comes from Services (home, local, auto, professional, pets and similar categories), while restaurants and retail shrink. That split drives most of what follows.

What is happening to Yelp’s advertising?

Yelp sells pay-per-click ads, so ad clicks, price per click and the number of paying locations explain nearly everything. The Services side is stable. The RR&O side is not.

14. Q2 2026 advertising revenue was $342 million, down 3%, mainly from Restaurants, Retail & Other (shareholder letter).
15. Advertising revenue was $1.39B in 2025, up 3% (10-K). Filing figures are in thousands of dollars.
16. Services advertising revenue rose 8% to $947.6M in 2025 (10-K). Filing figures are in thousands of dollars.
17. In 2025, RR&O advertising revenue fell 6% and RR&O paying locations fell 3% (10-K).
18. Services advertising revenue was flat at $241 million in Q2 2026 (shareholder letter).
19. RR&O advertising revenue fell 10% in Q2 2026 (shareholder letter).
20. Ad clicks fell 5% in Q2 2026 while average CPC rose 1% (shareholder letter).
21. Ad clicks have fallen year over year for six straight quarters, with a trough of 11% in Q3 2025 (shareholder letter).
22. Average CPC has risen year over year for six straight quarters, peaking at 14% in Q3 2025 (shareholder letter).
23. Average CPC rose 10% in 2025 (10-K).
24. Yelp said 2025 advertising growth came from higher CPC, offset by fewer ad clicks (10-K).
25. Total paying advertising locations fell 1% in Q2 2026 (shareholder letter).
26. Paying advertising locations were 563 thousand in Q2 2023 and 510 thousand in Q2 2026 (shareholder letter). Locations are in thousands, on a monthly average basis.
27. RR&O paying advertising locations fell from 325 thousand in Q2 2023 to 251 thousand in Q2 2026 (shareholder letter). Locations are in thousands, on a monthly average basis.
28. Services paying advertising locations were 238 thousand in Q2 2023 and 259 thousand in Q2 2026 (shareholder letter). Locations are in thousands, on a monthly average basis.
29. Services advertising revenue grew from $200.3M in Q2 2023 to $241.0M in Q2 2026 (shareholder letter). Filing figures are in thousands of dollars.
30. RR&O advertising revenue fell from $121.7M in Q2 2023 to a low of $98.7M in Q1 2026 (shareholder letter). Filing figures are in thousands of dollars.
31. Yelp points to economic strain and food ordering and delivery competition for RR&O weakness (shareholder letter).

Source: Yelp Q2 2026 shareholder letter, key financial and operational metrics. Year-over-year changes. Checked October 28, 2026.

Source: same letter. Monthly average. Checked October 28, 2026.

What it means. The ad story is price over volume. Clicks have fallen for six quarters, and revenue held up because each click cost more. That lever is running out: CPC growth slowed from 14% in Q3 2025 to 1% in Q2 2026. Paying RR&O locations fell from 325 thousand to 251 thousand since Q2 2023, which points to fewer restaurant, retail and beauty locations paying for Yelp ads. Yelp’s own explanation is the economy and, to a lesser extent, food ordering and delivery competition.

What is Yelp’s AI strategy, in numbers?

Yelp has three AI bets: a conversational Yelp Assistant, AI tools for businesses (Yelp Host and the Hatch lead platform), and licensing its content to AI platforms. The third matters most for anyone who works on visibility.

32. Other revenue rose 98% to a record $33 million in Q2 2026, led by Hatch, data licensing and food ordering (shareholder letter).
33. First-half 2026 other revenue was $62.0M, against $33.2M a year earlier (shareholder letter). Filing figures are in thousands of dollars.
34. Other revenue was $73.7M in 2025, up 17% (10-K). Filing figures are in thousands of dollars.
35. Yelp targets a $250 million annual run rate in other revenue by the end of 2028 (shareholder letter).
36. Yelp says it was the most organically cited home services platform in AI answers, with 3.4x the citations of the next platform (shareholder letter). A study Yelp commissioned. It covers home services only.
37. Citations in the study: Yelp 512.7k, BBB 149.7k, Angi 145.6k, Thumbtack 56.0k, HomeAdvisor 33.6k, Nextdoor 10.3k (shareholder letter).
38. The study counted US citations in ChatGPT, Gemini, Perplexity and Google AI Mode (shareholder letter).
39. Citations were counted as links shown in answers, whether or not clicked, and excluded ads (shareholder letter).
40. Yelp ratings and reviews have begun powering ChatGPT local results (shareholder letter).
41. Yelp reports robust demand for data licensing, including from OpenAI (shareholder letter).
42. Yelp Assistant generated about 10% of Request-a-Quote projects in Q2 2026 (shareholder letter).
43. Yelp Host calls reached a 2.4 million annual run rate in July 2026, more than triple January (shareholder letter).
44. Yelp Host added OpenTable reservations and 16 new languages (shareholder letter).
45. Hatch annual run rate revenue grew 59% to $35 million in June 2026 (shareholder letter). Yelp notes Hatch growth rates use unaudited pre-acquisition records and are approximate.
46. Hatch manages tens of millions of distinct leads a year for its customers (shareholder letter).
47. Yelp acquired Hatch on February 2, 2026 for about $271.2 million in cash (10-Q).
48. Yelp attributes other revenue growth to Hatch, the Places API and food ordering with DoorDash (shareholder letter).
49. Yelp plans more data licensing deals and a stronger AI API (10-K).
50. Yelp cited AI infrastructure in Q2 cost of revenue, up 18% to $42 million (shareholder letter).

What it means. Two caveats apply to the citation numbers. Yelp commissioned the study, and it covers home services in the US for one quarter. Even so, it shows what we see across AI answer engines: review and directory sites are heavily cited sources for local questions. The licensing deals also mean Yelp’s data now flows into ChatGPT’s local experience, so your Yelp profile can influence an answer even when nobody visits Yelp. To see which sources AI engines cite for your category, use an AI visibility tool. Our Reddit statistics page covers the other large review-like source AI engines lean on.

How much traffic and content does Yelp have?

Yelp’s content base is large and growing. Its audience is not growing.

51. Yelp had 330.2 million cumulative reviews at the end of 2025, with 300.3 million on business pages (10-K). Includes 48.1 million not recommended and 29.9 million removed.
52. Cumulative reviews grew 7% in 2025 (10-K). Filing figures are in thousands of reviews.
53. App unique devices were 28,009 thousand in 2025, down from 28,595 thousand (10-K). Figures are in thousands.
54. Yelp blamed less frequent restaurant visits for the app device decline (10-K).
55. Desktop unique devices were 37,399 thousand and mobile web 59,729 thousand in 2025 (10-K). Figures are in thousands. 2024 values were 39,627 and 63,987.
56. Active claimed local business locations reached 8,392 thousand, up 8% (10-K). Figures are in thousands.
57. App users generate a substantial majority of Yelp activity (10-K).
58. Yelp says 2025 RR&O traffic fell while Services traffic grew modestly (10-K).
59. A substantial majority of each Yelp traffic stream goes to RR&O categories (10-K).
60. Yelp saw year-over-year gains in app installs and page views in Q2 2026 (shareholder letter).

What it means. Reviews grew 7% in 2025, to 330.2 million, but app, desktop and mobile web unique devices all fell. Those metrics are Yelp’s own and are not audited by a third party, as the company itself notes. Yelp says RR&O traffic declined, partly offset by modest Services growth. The 10-K adds that a substantial majority of Yelp’s traffic goes to RR&O categories.

What risks and priorities does Yelp report?

61. Yelp expects traffic to remain challenged in 2026 (10-K).
62. Yelp lists Google AI Overviews, AI Mode and chatbots as a traffic risk (10-K).
63. Yelp names Google as its primary competitor and says it relies on search engines (10-K).
64. Yelp expects a year-over-year drop in Q3 2026 adjusted EBITDA from AI, Hatch and marketing investment (10-Q).
65. Yelp repurchased $50 million of shares at $24.92 in Q2, cutting diluted shares 15% (shareholder letter).
66. Yelp paused buybacks with $339 million of authorization left to pay down its revolving credit facility (shareholder letter).
67. Yelp aims to cut stock-based compensation below 6% of revenue by the end of 2027 (shareholder letter).

What it means. The risk language is the most direct statement in our sources on how AI search may affect a content site: AI features of search engines “often present their results in a format that de-emphasizes links” to the platform. Yelp expects traffic to stay challenged in 2026. Its answer is to sell content and tools to AI platforms and to local businesses directly, which is why other revenue is the line to watch.

What to do with this data

• Treat review platforms as AI inputs. Yelp says ChatGPT now uses its ratings and reviews in local results. Keep your profile complete, current and consistently named. See our local SEO statistics for the wider picture.
• Track which sources AI engines cite for your category. Mentionova tracks ChatGPT, Perplexity, Claude, Gemini, Google AI and Reddit, and shows which sources they cite. It is #1 in our best AI visibility tools and LLM brand monitoring tools roundups. See also our best AI SEO agents.
• Do not assume Yelp traffic is stable. Yelp’s own unique-device metrics fell in 2025. Use your own analytics to see what Yelp actually sends you.
• Watch the AI search side. See our Google AI Overviews statistics, Google AI Mode statistics and ChatGPT statistics.
• Understand Google’s side. Our Google Search statistics page covers the Alphabet filings.

Frequently asked questions

How much revenue does Yelp make?

Yelp’s net revenue was $1.46 billion in 2025, up from $1.41 billion in 2024. In Q2 2026 it was $376 million, up 1% year over year. Yelp expects 2026 net revenue of $1.460 billion to $1.470 billion.

Is Yelp profitable?

Yes. Net income was $145.6 million in 2025 and $32 million in Q2 2026, an 8% margin. Adjusted EBITDA was $369.2 million in 2025, a 25% margin. Yelp expects Q3 2026 adjusted EBITDA to fall year over year because of AI, Hatch and marketing investment.

How many reviews does Yelp have?

At the end of 2025, 330.2 million reviews had been submitted to Yelp. Of those, 300.3 million were available on business pages, including 48.1 million not recommended, and 29.9 million had been removed.

How does Yelp make money?

Mostly from advertising. Advertising was $1.39 billion of $1.46 billion in 2025, and Services categories were the larger share. Yelp’s other revenue comes from subscriptions, data licensing, transactions and other non-advertising deals, and it is the fastest-growing line.

Is Yelp ad traffic falling?

Ad clicks fell 5% in Q2 2026 and have fallen year over year for six straight quarters. Average cost per click has risen in each of those quarters, which is why advertising revenue declined only 3% in Q2 2026.

Does ChatGPT use Yelp reviews?

Yelp says its ratings and reviews recently began powering ChatGPT’s local experience in relevant categories, and that it has a data licensing partnership with OpenAI. A Request-a-Quote integration with ChatGPT is described as coming soon.

How often is Yelp cited by AI search?

In a study Yelp commissioned, Yelp received 512.7 thousand US citations across ChatGPT, Gemini, Perplexity and Google AI Mode in Q4 2025 for home services. That is 3.4x the next platform (BBB). The study covers only home services and one quarter.

What is Yelp Host?

Yelp Host is Yelp’s AI voice assistant for restaurants. Yelp says total calls handled reached a 2.4 million annual run rate in July 2026, more than tripling from January, and that it added OpenTable reservations, food ordering and 16 languages.

What is Hatch?

Hatch is an AI lead management platform that Yelp acquired on February 2, 2026 for about $271.2 million in cash. Yelp says Hatch’s annual run rate revenue grew 59% to $35 million in June 2026.

Does Yelp see AI search as a threat?

Yes. Its 10-K lists consumers using AI features of search engines, such as Google’s AI Overviews and AI Mode, or AI chatbots instead of traditional search as a risk to traffic. It also names Google as its primary competitor.

Why use SEC filings for these statistics?

Third-party traffic estimates for Yelp are second-hand and often out of date. Filings are Yelp’s own statements, with defined metrics and a date. Yelp notes that its traffic metrics are tracked with internal tools that are not independently verified.

How we compiled these statistics

We fetched 4 primary source pages on October 28, 2026 and recorded 67 data points in docs/content/stats-ledgers/yelp-statistics.json. Every numbered figure above maps to a ledger row with a verbatim quote from the page we fetched. All sources are documents Yelp filed with the U.S. Securities and Exchange Commission: the 2025 Form 10-K, the Q2 2026 Form 10-Q, and the Q2 2026 earnings release and shareholder letter (Form 8-K exhibits 99.1 and 99.2). We did not use traffic estimators. Filings report dollars in thousands, so we show raw figures in tables and round only in headlines. The AI citation study was commissioned by Yelp, and we label it as such. We computed no growth rates ourselves, and Yelp’s Q3 2026 results were not available when we fetched. Related reading: AI search statistics, OpenAI statistics and Perplexity statistics.

Sources

• Yelp Inc.: Q2 2026 results press release (SEC Form 8-K Exhibit 99.1, August 6, 2026)
• Yelp Inc.: Annual Report on Form 10-K for 2025 (SEC, filed February 27, 2026)
• Yelp Inc.: Quarterly Report on Form 10-Q for Q2 2026 (SEC, filed August 7, 2026)
• Yelp Inc.: Q2 2026 Letter to Shareholders (SEC Form 8-K Exhibit 99.2, August 6, 2026)