recurring revenue

“We're driving continued growth by focusing on four key areas: making our service better, bringing Airbnb to more parts of the world, expanding what we offer, and integrating AI into our app.”

“Our AI assistant has already reduced people's need to contact a human agent by around 15%. It's also helped some people get significantly faster help, cutting the typical resolution time from hours to seconds.”

“In Q3 2025, almost half of experiences bookings were not attached to an Airbnb accommodations booking.”

“The average growth rate of nights booked on an origin basis in our expansion markets was twice that of our core markets over the last twelve months.”

“We're currently building out AI-powered search that will let people have a conversation with the app about what they're looking for so we can help them design the perfect trip.”

“First-time bookers increased over 20% in Japan and nearly 50% in India on a year-over-year basis.”

If you sell into financial services or depend on capital markets activity, the environment is highly favorable. Lending volumes are up across the board — commercial loans grew 13% YoY — meaning enterprise buyers at banks and their clients have expanding budgets. Plan your sales cycles accordingly.

If you're building anything that touches data center infrastructure — networking, orchestration, security — Broadcom's dominance in custom AI accelerators and Ethernet switching means their ecosystem is the one to build on or integrate with. Their hyperscaler customer concentration is a feature, not a bug: follow the capex.

If you're building or selling into the voluntary benefits or supplemental insurance space, Aflac's aggressive product launches and distribution expansion signal a more competitive market — but also validate growing employer demand for these products.

If you're building in travel or marketplace services, Airbnb's expansion into services and experiences signals they're becoming a local commerce platform—not just lodging. The $200M annual investment in this vertical means they'll subsidize supply acquisition, compressing margins for standalone experience startups.

If you're building insurtech or selling into risk management budgets, the spend environment is healthy — Aon's broad-based growth signals enterprise buyers are actively investing in risk and benefits advisory, not cutting.

If you're selling into insurance brokerages or risk management buyers, budgets are expanding — AJG alone added 10,900 employees in one quarter via acquisition. This is a sector consolidating fast; partner early or get squeezed out.

If you're building in the device protection, home warranty, or embedded insurance space, Assurant's expanding reach through OEM and carrier partnerships is raising the competitive bar. Their new financial services program signals they're moving beyond protection into adjacent verticals — expect them in more RFPs.

If you're building on or competing with Shopify's ecosystem, their merchant solutions flywheel is accelerating — they're monetizing the full commerce stack, not just storefronts. Build where they aren't yet or prepare to be bundled.

If you're selling into water or municipal infrastructure, budget cycles are expanding not contracting — Xylem's organic growth acceleration and raised guidance signal that utilities and industrial buyers are spending through macro uncertainty.

If you're building anything that touches enterprise networks or AI infrastructure, budget is flowing toward consolidated security platforms. Point solutions are getting squeezed — partner with or build on platforms like Fortinet's rather than competing head-on.

If you're building security tools, CrowdStrike's platform consolidation play is swallowing adjacent categories fast — cloud security, identity, SIEM. Either integrate with Falcon or find a niche they haven't reached yet. If you're a buyer, Falcon Flex pricing creates real consolidation leverage worth evaluating.

If you're building in the collaboration or contact center space, Zoom's AI Companion push signals they're bundling AI features into existing seats — not charging separately. That compresses standalone AI tool pricing in this category. Compete on workflow depth, not AI features.

If you sell into insurance or auto claims workflows, Copart's flat revenue signals stable but not growing volume — plan for steady-state demand, not a tailwind.

If you're building in the SMB/mid-market CRM or marketing automation space, HubSpot is pulling away. Their AI agent strategy is creating switching costs — the window to win customers before they consolidate onto HubSpot is narrowing.

If you're building for public safety or enterprise physical security, Axon is consolidating the stack fast — from body cams to 911 dispatch to drones. Either integrate into their ecosystem or prepare to compete against a $2.7B-revenue platform with $11.4B in contracted backlog.

If you sell into Cencora's non-core units (animal health, consulting, PharmaLex components), watch for divestitures — your buyer may change.

If you sell into enterprise IT, IBM's clients are spending — especially on AI transformation and infrastructure modernization. The z17 cycle and AI consulting demand signal real budget allocation, not just pilots. Position your product as part of the AI deployment stack, not a net-new budget line.

Intuit consolidating its consumer-facing businesses signals a platform play — expect bundled offerings across tax, credit, and personal finance that raise switching costs for end users and squeeze standalone competitors in each vertical.

If you're building in European BNPL or embedded lending, PayPal is scaling aggressively with institutional capital backing — expect them to be a more aggressive competitor in EU markets through 2028.