Meta Platforms, Inc.META

Meta Platforms, Inc. Revenue Disclosure

10-KFiled Jan 29, 20261 min read
Revenue
Revenue disaggregated by revenue source and by segment consists of the following (in millions):
Year Ended December 31, 
202520242023
Advertising$196,175 $160,633 $131,948 
Other revenue2,584 1,722 1,058 
Family of Apps198,759 162,355 133,006 
Reality Labs2,207 2,146 1,896 
Total revenue$200,966 $164,501 $134,902 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Year Ended December 31, 
 202520242023
United States and Canada (1)
$78,866 $63,207 $52,888 
Europe (2)
46,569 38,361 31,210 
Asia-Pacific53,817 45,009 36,154 
Rest of World (2)
21,714 17,924 14,650 
Total revenue$200,966 $164,501 $134,902 
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(1)United States revenue was $74.78 billion, $59.73 billion, and $49.78 billion for the years ended December 31, 2025, 2024, and 2023, respectively.
(2)Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.

Deferred revenue was $1.08 billion and $772 million as of December 31, 2025 and 2024, respectively. Our deferred revenue primarily relates to advertising prepayments and credits, as well as software updates and upgrades associated with RL hardware sales, most of which are expected to be realized in less than a year.

Historical Timeline

Fiscal YearFiled
2025Jan 29, 2026Showing above
2024Jan 30, 2025
2023Feb 2, 2024
2022Feb 2, 2023
2021Feb 3, 2022
2020Jan 28, 2021
2019Jan 30, 2020

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Other Available Disclosures

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