ABNB · 10-Q · 2026Q2 · Full report

Liquidity and Debt Position

Airbnb, Inc. · 2026-08-06 · Importance 64 · Surprise 42 · Contradicted

As of June 30, 2026, cash, cash equivalents, and short-term investments totaled $12.1 billion, including $6.8 billion of cash and $5.2 billion of short-term investments. Airbnb also held $12.2 billion for bookings before guest check-in, recorded separately as customer funds rather than company liquidity. In March 2026, Airbnb issued $2.5 billion of senior notes bearing fixed rates of 4.40%, 4.65%, and 5.25%, due in 2029, 2031, and 2036, respectively. The company used $2.0 billion of proceeds to repay its 2026 Notes and retained approximately $500 million for general corporate purposes; its $1.0 billion credit facility was undrawn at quarter-end, with $20 million of letters of credit outstanding.

Key facts

• In March 2026, issued $2.5 billion aggregate principal amount of Senior Notes: $850 million 4.40% due March 2029, $850 million 4.65% due March 2031, $800 million 5.25% due March 2036 source
• Used $2.0 billion of the net proceeds from the March 2026 Senior Notes to fully repay outstanding 2026 Notes upon their maturity; remaining net proceeds approximately $500 million (less underwriting discounts and offering expenses) retained for general corporate purposes source
• As of June 30, 2026, Airbnb has access to $1.0 billion of commitments and a $200 million sub-limit for letters of credit under the 2022 Credit Facility; no amounts drawn and outstanding letters of credit totaled $20 million source
• As of June 30, 2026, cash, cash equivalents and short-term investments totaled $12.1 billion; cash and cash equivalents totaled $6.8 billion including $3.3 billion held by foreign subsidiaries; short-term investments totaled $5.2 billion source
• As of June 30, 2026, funds held for bookings in advance totaled $12.2 billion and are recorded separately in funds receivable and amounts held on behalf of customers source
• Net cash provided by financing activities for the six months ended June 30, 2026: $3.5 billion, primarily driven by a $5.4 billion increase in funds payable and amounts payable to customers and $2.5 billion in net proceeds from Senior Notes issuance, partially offset by $2.1 billion share repurchases, $2.0 billion repayment of 2026 Notes, and $305 million taxes paid related to equity awards source
• Funds of $12.2 billion held for bookings in advance are recorded with corresponding liability in funds payable and amounts payable to customers and do not count as short-term investments source
• Net increase in cash, cash equivalents, and restricted cash for the six months ended June 30, 2026: $5,684 million source

Impact estimates