Chief Financial Officer, Yelp
Search every verified David Schwarzbach interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Yelp CFO David Schwarzbach stated that the company achieved its 10th consecutive quarter of double-digit revenue growth, calling it "the best quarter in the company's history" and expressing confidence that Yelp is "set up to have the best year in the company's history." He attributed this performance to a shift from a sales headcount-driven growth model to a product-led growth model, which he said is "paying off." Schwarzbach noted that services revenue grew 14% in the third quarter, with home services up 20%, and said the company believes it is "taking market share" while achieving a record adjusted EBITDA margin of 28%. Schwarzbach said that despite a "challenging environment for digital advertising" and high inflation, consumers are "doing even more research than ever before" before making purchase decisions. He described Yelp's users as "high intent," "affluent," and often college-educated, and emphasized the company's focus on being a "trusted brand" for reviews, particularly in services. When asked about Yelp's market capitalization being half of its 2014 peak, Schwarzbach said the company has "transformed" over the past five years and that the product-led model will enable "profitable growth for the long term."
“It's good to be here is the 10th straight quarter of double digit growth for us. That's been against the backdrop of what has certainly been a challenging environment for digital advertising.”
“Around services in particular, we've really leaned in 14% growth in the third quarter for services, 20% in-home services. We think we're taking market share and we're doing that while driving adjusted EBITDA was a record quarter for us at 28% adjusted EBIT.”
“We think our product led strategy is really working very well for us. We think it's the best quarter in the company's history and we think that we're set up to have the best year in the company's history.”
“Against a backdrop of high inflation where things are more expensive, it means people can't go out as often. They can't do as many home projects. So they really want to make sure they're making a good decision. And what we found actually is that consumers are doing even more research than ever before making those purch...”
“The folks who are coming to help their high intent, they're actually ready to purchase. They're affluent. They are the majority of folks have gone to college. They have advanced degrees. And so they want to do that research before they make that purchase decision.”
“We really have transformed the company over the past five years, and we moved from what was a sales headcount driven growth model to a product led growth model. And that product led growth model is paying off.”
“We obviously saw very strong adjusted EBIT margin in the third quarter. But over the long term, we think that product led model enables us to continue to deliver profitable growth for the long term.”
“The U.S. economy certainly has held in there, and we've been very relevant to consumers that they've made those decisions, as I was saying, around inflation. But fundamentally, what we want to be able to do is to really leverage technology to continue to deliver value to consumers and to advertisers at the end of the d...”
“We obviously generate that content through these user reviews. We think it's really important for those to be trusted. We want to be that trusted brand for folks, but we also want to be the best possible place for consumers to go to make purchase decisions, particularly around services.”
“We grew home services about 20% in the third quarter. We think we're taking market share and we think that that sets us up very well for the future.”
Yelp CFO David Schwarzbach joins Caroline Hyde and Ed Ludlow to discuss their quarterly results and why he believes the ...
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