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Mar 31, 2023
NerdWallet Q1 2023 Earnings Report
Reported solid financial results in Q1 2023, with revenue up 31% year-over-year.
Key Takeaways
NerdWallet reported a strong start to 2023 with revenue of $169.6 million, up 31% year-over-year. The company focused on executing against its growth pillars, expanding financial guidance, and investing in consumer experiences. Despite anticipating macro pressures, NerdWallet continues to operate with efficiency and aims to deliver long-term value.
Revenue of $169.6 million, up 31% year-over-year.
GAAP net income of $1.7 million and $0.02 income per diluted share.
Adjusted EBITDA of $20.9 million.
Board of Directors approved a share repurchase plan with $20 million authorization.
Revenue by Segment
Forward Guidance
NerdWallet provided guidance for the second quarter of 2023 with revenue expected in the range of $134 - $141 million and Adjusted EBITDA expected in the range of $17 - $19 million.
Positive Outlook
- Focused on delivering profitability to ensure investment flexibility.
- Driving sustainable growth across credit cycles.
- Expect year-over-year increase in 2023 annual Adjusted EBITDA margin.
- Revenue is expected in the range of $134 - $141 million, 10% year-over-year growth rate at midpoint
- Adjusted EBITDA is expected in the range of $17 - $19 million
Challenges Ahead
- Near-term macro headwinds in areas such as credit cards and insurance may pressure revenue growth compared to Q1 2023 levels.
- Variability in quarterly margins is expected.
- Unable to calculate certain reconciling items with confidence.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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