“As the vaccine is rolled out and restrictions lift, we expect there will be a significant travel rebound,” the company wrote in the letter.
But there’s some cause for concern ahead. While the company said it hopes “markets will begin to open up soon,” it also hinted at a resulting negative impact on its business. DoorDash said that this return to normal could result in “declines in consumer engagement and average order values, though the precise amount remains unclear.”
While shares of Airbnb were essentially flat in after-hours trading Thursday following the earnings report, DoorDash stock fell more than 11%. Both companies remain well above their IPO prices.
For now, both companies continue to face challenges.
Airbnb, meanwhile, posted a staggering loss of $3.9 billion in the fourth quarter, with $2.8 billion of that related to stock-based compensation. The company said it lost $4.6 billion in 2020.
In its earnings report, Airbnb focused on the fact that its revenue for the fourth quarter was down “only 22% year-over-year, demonstrating Airbnb’s resilience.” It brought in revenue of $859 million in the fourth quarter, despite surges in coronavirus cases.