ABNB · 10-Q · 2026Q2 · Full report

Flexible Payment Expansion

Airbnb, Inc. · 2026-08-06 · Importance 28 · Surprise 42 · In source text

Airbnb expanded its Reserve Now, Pay Later (RNPL) offering internationally in 2026 after launching it in 2025. RNPL bookings require no payment at booking and have experienced higher cancellation rates than historical bookings involving an upfront payment. The model shifts cash collection closer to check-in, reducing the correlation between Gross Booking Value, revenue, and cash receipts; management said increasing adoption is changing typical seasonal cash-flow dynamics.

Key facts

• RNPL launched in 2025 and expanded internationally in 2026; RNPL bookings require no payment at booking and have experienced higher cancellation rates than historic bookings source
• Increased adoption of RNPL shifts timing among GBV, revenue, and cash receipts and can impact FCF because RNPL collects payment closer to date of stay source
• Unearned fees grew less than GBV during the six months ended June 30, 2026 compared to the prior year primarily due to increased guest adoption of flexible payment options like RNPL, shifting timing of cash collection source

Impact estimates