In Q1'26, ABNB's Gross Margin stood at 78.3%, reflecting a slight decline from the previous quarter's 82.5%. Operating Margin was 3.2%, indicating subdued profitability amid operational pressures, while Net Profit Margin registered 6.0%, down from 12.3% in Q4'25 and signaling moderated bottom-line performance. Over the period from Q2'23 to Q1'26, Gross Margin exhibited stability around 80-87%, with consistent quarterly fluctuations but no pronounced long-term trend, peaking at 87.5% in Q3'24. Operating Margin showed high volatility, surging to 44.0% in Q3'23 before dipping into negative territory at -22.4% in Q4'23, then recovering to highs near 41% in Q3'24 and Q3'25, though recent quarters trended lower amid seasonal weakness in Q1 periods. Net Profit Margin followed a similar volatile pattern, with outliers like 128.8% in Q3'23 contrasting losses in Q4'23, generally stabilizing in the 10-37% range during profitable quarters but contracting to low single digits in Q1'25 and Q1'26, underscoring sensitivity to seasonal and operational factors.