🟢 New in Current Filing The business and industry in which we participate are highly competitive, and we may be unable to compete successfully with our current or future competitors. 🔒

🟢 New in Current Filing We are subject to risks associated with the physical impacts of climate change as well as various efforts to transition to a low-carbon society. 🔒

🔴 No Match in Current Filing If we fail to retain existing Hosts or add new Hosts, or if Hosts fail to provide high-quality stays and experiences, our business, results of operations, and financial condition would be materially adversely affected. 🔒

🔴 No Match in Current Filing If we fail to retain existing guests or add new guests, our business, results of operations, and financial condition would be materially adversely affected. 🔒

🔴 No Match in Current Filing Maintaining and enhancing our brand and reputation is critical to our growth, and negative publicity could damage our brand and thereby harm our ability to compete effectively, and could materially adversely affect our business, results of operations, and financial condition. 🔒

🔴 No Match in Current Filing Our community support function is critical to the success of our platform, and any failure to provide high-quality service could affect our ability to retain our existing Hosts and guests and attract new ones. 🔒

🔴 No Match in Current Filing Our IT Systems are highly complex, and any undetected errors could materially adversely affect our business, results of operations, and financial condition. 🔒

🔴 No Match in Current Filing We may not have the liquidity necessary to repurchase the 2026 Notes for cash following a fundamental change, or to pay any cash amounts due upon conversion, and our future indebtedness may limit our ability to repurchase the 2026 Notes or pay cash upon their conversion. 🔒

🔴 No Match in Current Filing The accounting method for the 2026 Notes could adversely affect our reported financial condition and results. 🔒

🔴 No Match in Current Filing The capped call transactions entered into in connection with the pricing of the 2026 Notes may affect the value of our Class A common stock. 🔒

🔴 No Match in Current Filing Provisions in the indenture governing the 2026 Notes could delay or prevent an otherwise beneficial takeover of us. 🔒

🔴 No Match in Current Filing If we are unable to adapt to changes in technology and the evolving demands of Hosts and guests, our business, results of operations, and financial condition could be materially adversely affected. 🔒

🔴 No Match in Current Filing The value of our equity investments in private companies could decline, which could materially adversely affect our results of operations and financial condition. 🔒

🔴 No Match in Current Filing Future sales and issuances of our Class A common stock or rights to purchase our Class A common stock, including pursuant to our equity incentive plans, or other equity securities or securities convertible into our Class A common stock, could result in additional dilution of the percentage ownership of our stockholders and could cause the stock price of our Class A common stock to decline. 🔒

🔴 No Match in Current Filing If securities or industry analysts do not publish research or publish unfavorable research about our business, our stock price and trading volume could decline. 🔒

🔴 No Match in Current Filing We do not intend to pay dividends for the foreseeable future. Consequently, any gains from an investment in our Class A common stock will likely depend on whether the price of our Class A common stock increases. 🔒

🔴 No Match in Current Filing The value of our marketable securities could decline, which could adversely affect our results of operations and financial condition. 🔒

🔴 No Match in Current Filing We are subject to rules and regulations established by the SEC and Nasdaq regarding our internal control over financial reporting. We may not complete needed improvements to our internal control over financial reporting in a timely manner, or these internal controls may not be determined to be effective, which may adversely affect investor confidence in our Company and, as a result, the value of our Class A common stock and your investment. 🔒

🔴 No Match in Current Filing We face possible risks associated with natural disasters and extreme weather events (the frequency and severity of which may be impacted by climate change), which may include more frequent or severe storms, extreme temperatures and ambient temperature increases, hurricanes, flooding, rising sea levels, shortages of water, droughts, and wildfires, any of which could have a material adverse effect on our business, results of operations, and financial condition. 🔒

🔴 No Match in Current Filing The failure to successfully implement and maintain accounting systems could materially adversely impact our business, results of operations, and financial condition. 🔒

🟡 Modified Our indebtedness could materially adversely affect our financial condition. Our indebtedness and liabilities could limit the cash flow available for our operations, expose us to risks that could materially adversely affect our business, results of operations, and financial condition, and impair our ability to satisfy our obligations under our indebtedness. 🔒

🟡 Modified Avoiding regulation under the Investment Company Act may adversely affect our operations. 🔒

🟡 Modified Our business depends on attracting and retaining capable management and employees, and the loss of any key personnel could materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified Our focus on the long-term best interests of our Company and our consideration of all of our stakeholders, including our hosts, guests, the communities in which we operate, employees, and shareholders, may conflict with short- or medium-term financial interests and business performance, which may negatively impact the value of our Class A common stock. 🔒

🟡 Modified Our multi-series structure may have a material adverse effect on the market price of our Class A common stock. 🔒

🟡 Modified We rely on third-party payment service providers to process payments made by guests and payments made to hosts on our platform. If these third-party payment service providers become unavailable or if we are subject to increased fees, our business, results of operations, and financial condition could be materially adversely affected. 🔒

🟡 Modified Compliance with federal, state, and foreign laws relating to data privacy, data security, artificial intelligence, marketing and consumer protection involves significant expenditure and resources, and any actual or perceived failure by us or our vendors to comply may result in significant liability, litigation or other legal action against us, negative publicity, an erosion of trust, and/or result in regulatory scrutiny, fines and penalties and could materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified If we do not adequately protect our intellectual property and our data, then our business, results of operations, and financial condition could be materially adversely affected. 🔒

🟡 Modified We are subject to governmental economic and trade sanctions laws and regulations that limit the scope of our offerings. Additionally, failure to comply with applicable economic and trade sanctions laws and regulations could subject us to liability and negatively affect our business, results of operations, and financial condition. 🔒

🟡 Modified We have been, and may in the future be, subject to claims that we or others violated certain third-party intellectual property rights, which, even where meritless, can be costly to defend and could materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified We may have exposure to greater than anticipated income tax liabilities. 🔒

🟡 Modified We may experience significant fluctuations in our results of operations, which make it difficult to forecast our future results. 🔒

🟡 Modified Measures that we are taking to improve the trust and safety of our platform may cause us to incur significant expenditures and may not be successful. 🔒

🟡 Modified We are subject to payment network rules, and any material modification of our payment card acceptance privileges could have a material adverse effect on our business, results of operations, and financial condition. 🔒

🟡 Modified We track certain operational metrics, which are subject to inherent challenges in measurement, and real or perceived inaccuracies in such metrics may harm our reputation and materially adversely affect our stock price, business, results of operations, and financial condition. 🔒

🟡 Modified A significant portion of our bookings and revenue are denominated in foreign currencies, and our financial results are exposed to changes in foreign exchange rates. 🔒

🟡 Modified The insurance coverage afforded by or available from our insurers may be inadequate for the needs of our business, and losses under our damage protection program could materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified Host, guest, or third-party actions that are criminal, violent, inappropriate, dangerous, or fraudulent, may undermine the safety or the perception of safety on our platform and our ability to attract and retain hosts and guests and materially adversely affect our reputation, business, results of operations, and financial condition. 🔒

🟡 Modified Compliance with Laws and Regulations, Litigation and Disputes 🔒

🟡 Modified We are subject to payment-related fraud, and an increase in or failure to deal effectively with fraud, fraudulent activities, fictitious transactions, or illegal transactions would materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified Our payments operations are subject to extensive, complex, overlapping and frequently changing government regulation and oversight and any failure or perceived failure to comply with such laws, rules, regulations, policies, legal interpretations, and regulatory guidance could materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified Uncertainty in the application of taxes to our hosts, guests, or platform could increase our tax liabilities and may discourage hosts and guests from conducting business on our platform. 🔒

🟡 Modified Changes in tax laws or tax rulings could materially adversely affect our business, results of operations and financial condition. 🔒

🟡 Modified If we or our third-party providers fail to protect confidential information and/or experience security incidents, there may be damage to our brand and reputation, material financial penalties, and legal liability, along with a decline in use of our platform, which would materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified If we fail to retain or add hosts and guests, if hosts fail to provide high-quality stays and experiences, if our new offerings and initiatives are unsuccessful, or if our community support offerings are inadequate, our business, results of operations, and financial condition would be materially adversely affected. 🔒

🟡 Modified We could face liability for information or content on or accessible through our platform. 🔒

🟡 Modified We rely on the value of our brand and traffic to our platform to grow revenue, and if we are unable to market our brand and drive traffic cost-effectively, it would materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified Our use of artificial intelligence and machine learning gives rise to legal, business, and operational risks, which may result in diminished performance, regulatory scrutiny, social impacts, reputational harm, and liability arising from the use of this technology. 🔒

🟡 Modified Any decline or disruption in the travel and hospitality industries or economic downturn could materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified IT System capacity constraints, system or other operational failures could materially adversely affect our business, results of operations, and financial condition. 🔒

🟡 Modified Evolving focus on environmental, social, and governance issues by shareholders, customers, regulators, politicians, employees, and other stakeholders may impose additional risks and costs on our business. 🔒

🟡 Modified If we are unable to successfully expand our global network or manage the risks presented by our business model internationally, our business, results of operations, and financial condition would be materially adversely affected. 🔒

🟡 Modified We may not be able to sustain our revenue growth rate or effectively manage growth or new opportunities. 🔒