YELP — what changed in the latest 10-Q
A section-by-section comparison of YELP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-08 vs the prior 10-Q · 2025-11-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +67 | −65 | ~13 | 32 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~2 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-08
In the first quarter of 2026, we continued to make progress transforming Yelp with artificial intelligence (“AI”) through our strategic investments in product innovation:
•Reconceive Yelp Around Answers and Actions. In the first quarter, increased adoption of Yelp Assistant drove approximately 15% of all Request-a-Quote projects.1 Building on this momentum, we launched a new Yelp Assistant that supports local discovery across every business category on Yelp. To provi…
•Deliver AI Tools that Help Businesses Grow, Operate and Succeed. We continued to scale Yelp Host, our AI-powered call answering service for restaurants, in the first quarter, which surpassed an annual run rate2 of more than 1.5 million calls handled in April 2026, more than doubling from January 20…
•Extend Our Reach to Power Local Discovery Across the AI Ecosystem. Demand for our data licensing products was robust in the first quarter, contributing to strong growth in other revenue. We secured new licensing agreements, including with OpenAI, and continued to expand our integrations with existi…
In the first quarter, strength in other revenue and growth in advertising revenue from Services businesses drove modest year-over-year revenue growth as the economic environment facing consumers and local businesses continued to be challenging. We expect these adverse conditions to persist and conti…
Text removed vs the prior filing · source: 10-Q · 2025-11-07
In the third quarter of 2025, our strategic investments in product innovation continued to drive progress on our revenue growth initiatives:
•Lead in Services. Advertising revenue from Services businesses increased by 7% year over year in the third quarter, driven by growth in the home services category as well as the auto services category, which includes revenue generated from RepairPal. Request-a-Quote projects increased by approximat…
•Drive advertiser value. In the third quarter, we focused on further optimizing advertisers’ budgets by prioritizing the most relevant ad content for consumers searching for local businesses. Ad clicks declined by 11% year over year, primarily due to macroeconomic pressures and, to a lesser extent, …
•Transform the consumer experience. We continued to invest in the consumer experience in the third quarter with a portfolio of product initiatives aimed at making Yelp even more engaging and useful to consumers. These products, which launched in October, included expanding Yelp Assistant to business…
In the third quarter, the Services categories continued to drive our business performance amid an uncertain macroeconomic environment, while RR&O businesses faced ongoing operating challenges. We expect heightened macroeconomic uncertainties and advertiser caution to persist in the fourth quarter. T…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice