As of Q4'25, Airbnb's Return on Sales (ROS) stands at 14.15%, reflecting a moderate improvement from the previous quarter. The latest data point indicates a positive margin, continuing the trend of profitability seen throughout most of 2024 and 2025. Over the period from Q1'23 to Q4'25, Airbnb's ROS has shown significant volatility, with notable peaks in Q3 each year (reaching 49.60% in Q3'23 and 46.49% in Q3'24) and a sharp dip into negative territory in Q4'23 (-14.07%). The pattern suggests strong seasonal performance in the third quarter, likely driven by higher demand, followed by weaker margins in the fourth quarter. Overall, the trend demonstrates recovery from the Q4'23 low, with ROS stabilizing in the mid-teens to mid-40% range in subsequent quarters.