[fbonetti]

They’re losing revenue due to the massive amount of recently cancellations.

[whymauri]

They're honoring a massive amount of refunds. There's also a lot of logistical work to be done for hosts which will probably be expensive.

[atwebb]

I think the OP was asking, why is income negative on any revenue (they lost in Q3/Q4 of FY19), what are the expenses that can't be covered?

[CydeWeys]

They employ a lot of people and have office space. Any big company has a large amount of fixed costs that will drag you under when income dries up.

[yesplorer]

Airbnb has over 5 million listings and 150 million customers around 190 countries and they don't make enough in commissions to pay rent, salaries and server costs?

[CydeWeys]

They don't. Period. That's a simple fact. No questions need asking here; they do NOT make enough money from their listings to cover all of their costs, full stop.

[yesplorer]

Then they're indeed not fit to run their business, period.

[CydeWeys]

OK, so what are you going to do about it?

[rchaud]

you forgot marketing costs. Airbnb is a household name for a reason.

[yesplorer]

At what point does Management not realise that they need to balance their books and so at least, expenditure = revenue for them to break even?

Airbnb is 12 years old. If they haven't figured out that they shouldn't spend more than they earn by now, I don't think the current management will be able to figure it out in another 12 years.