Business Outlook

Yelp is making the following adjustments to its previous outlook for the first quarter and full year of 2015:

For the first quarter 2015, Yelp is increasing its revenue outlook and expects net revenue to be in the range of $118.5 million to $120.5 million. Adjusted EBITDA is still expected to be in the range of $19 million to $21 million.

For the full year 2015, Yelp is increasing its revenue outlook and expects net revenue to be in the range of $574 million to $579 million. Yelp is also increasing its Adjusted EBITDA outlook, which is now expected to be in the range of $102 million to $105 million for the full year 2015.

For the first quarter 2015, Yelp expects its weighted average fully diluted share count to be approximately 79 million shares. For the full year 2015, Yelp expects its weighted average fully diluted share count to be approximately 80 million shares.

For the first quarter 2015, Yelp expects to record an increase in amortization of intangibles and an increase in stock based compensation. Yelp will update full year 2015 stock-based compensation and amortization outlook when it reports first quarter 2015 financial results.