Every material Form 8-K Yelp filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Yelp entered into an amendment to its revolving credit agreement on December 18, 2025, raising total borrowing capacity to $325.0 million and naming Wells Fargo as the new administrative and collateral agent in place of JPMorgan Chase. No loans were outstanding as of the filing date, and letters of credit totaled $4.2 million. The filing states no material changes to interest, fees, covenants or events of default.
Total borrowing capacity increased to $325.0 million under the amended credit agreement
Letter of credit sub-limit increased to $35.0 million; $4.2 million of letters of credit were outstanding
No loans were outstanding as of the filing date
Wells Fargo Bank replaces JPMorgan Chase Bank as administrative and collateral agent
Yelp reported third-quarter 2025 net revenue of $376 million, up 4% from a year earlier and $6 million above the high end of its outlook range, while net income rose 2% to $39 million. Adjusted EBITDA fell 3% to $98 million, and the company updated its full-year 2025 outlook to net revenue of $1.460 billion to $1.465 billion and adjusted EBITDA of $360 million to $365 million.
Q3 net revenue $376 million, up 4% year over year; diluted EPS $0.61 versus $0.56 in Q3 2024
Adjusted EBITDA $98 million, down 3%; adjusted EBITDA margin 26% versus 28% a year earlier
2025 outlook: net revenue $1.460 billion to $1.465 billion; adjusted EBITDA $360 million to $365 million
Repurchased approximately 2.3 million shares for $75 million in the third quarter
Yelp increased its board from eight to nine directors and appointed Logan Green to the new seat, effective immediately, on August 19, 2025. Green will serve as an independent director until the 2026 Annual Meeting, and the board expects to assign him to committees later.
Board size increased from eight to nine directors; Logan Green appointed to the new seat, effective immediately
Green receives standard non-employee director compensation, including restricted stock units valued at $325,000
Company intends to enter a standard indemnification agreement with Green
Yelp reported record second-quarter 2025 net revenue of $370 million, up 4% from a year earlier, and net income of $44 million, up 16%. The company narrowed its full-year 2025 outlook to $1.465 billion to $1.475 billion in net revenue and $350 million to $360 million in adjusted EBITDA. Ad clicks fell 7%, and advertising revenue from restaurant, retail and other categories declined 5%, which shows that growth is concentrated in Services.
Q2 2025 net revenue was $370.4 million, up from $357.0 million in Q2 2024; adjusted EBITDA was $100.5 million, up 10%
Diluted earnings per share were $0.67, compared with $0.54 in the second quarter of 2024
Full-year 2025 net revenue outlook narrowed to $1.465 billion to $1.475 billion; adjusted EBITDA outlook narrowed to $350 million to $360 million
In Q2 the company repurchased about 1.9 million shares for $65.9 million; Services ad revenue rose 8% while RR&O ad revenue fell 5%
Yelp reported first-quarter 2025 net revenue of $359 million, up 8% from a year earlier, with net income of $24 million, or $0.36 per diluted share, versus $0.20 a year earlier. The company also updated its 2025 outlook to net revenue of $1.465 billion to $1.485 billion and adjusted EBITDA of $345 million to $365 million, which matters to shareholders because it sets the company's full-year targets.
Q1 2025 net revenue was $359 million, up 8% year over year and $4 million above the high end of the company's first-quarter outlook range.
Net income was $24 million, up 72% from $14 million, with diluted earnings of $0.36 per share versus $0.20 a year earlier.
Adjusted EBITDA was $85 million, up 32%, and $15 million above the high end of the company's outlook range.
2025 outlook: net revenue of $1.465 billion to $1.485 billion and adjusted EBITDA of $345 million to $365 million.
On March 25, 2025, Yelp director Chris Terrill told the board he will not stand for reelection at the company's 2025 annual meeting of stockholders. He will remain on the board and the Nominating and Corporate Governance Committee until that meeting, and he said the decision was not due to any disagreement with the company over its operations, policies or practices.
Chris Terrill notified the board of his decision on March 25, 2025
He will stay on the board and the Nominating and Corporate Governance Committee until the 2025 annual meeting
His resignation from those positions takes effect when directors are elected at the annual meeting
He stated the decision was not related to any disagreement with the company
Yelp reported fourth-quarter and full-year 2024 results on February 13, 2025. Full-year net revenue rose 6% to a record $1.41 billion and net income rose 34% to $133 million, while adjusted EBITDA grew 8% to $358 million. The company also gave a 2025 outlook of $1.470 billion to $1.485 billion in net revenue and $345 million to $360 million in adjusted EBITDA, with Services advertising growth offsetting weaker Restaurants, Retail & Other advertising.
Q4 2024 net revenue was $362 million, up 6% year over year and $10 million above the high end of the company's outlook range.
Full-year 2024 diluted earnings per share were $1.88, compared with $1.35 in 2023.
Services advertising revenue rose 11% to $879 million, while Restaurants, Retail & Other advertising fell 3% to $470 million.
For 2025, Yelp expects net revenue of $1.470 billion to $1.485 billion and adjusted EBITDA of $345 million to $360 million.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Yelp filing is on SEC EDGAR ↗. 8-K briefs of other companies →