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Mar 31, 2024
NerdWallet Q1 2024 Earnings Report
NerdWallet's Q1 2024 results were reported, revealing a revenue of $161.9 million and exceeding guidance for adjusted EBITDA and non-GAAP operating income.
Key Takeaways
NerdWallet reported a Q1 2024 revenue of $161.9 million, a 5% decrease year-over-year. The company exceeded guidance for adjusted EBITDA and non-GAAP operating income, with a record quarter for monthly unique users and a growing registered user base of over 20 million.
Revenue was $161.9 million, down 5% year-over-year.
GAAP income from operations was $3.7 million.
GAAP net income was $1.1 million, or $0.01 income per diluted share.
Average Monthly Unique Users (MUUs) reached 29 million, up 25% year-over-year.
Revenue by Segment
Forward Guidance
NerdWallet is providing guidance for the second quarter of 2024 with revenue expected in the range of $147-$152 million, up 4% year-over-year at the midpoint.
Positive Outlook
- Revenue is expected to be in the range of $147-$152 million, up 4% year-over-year at the midpoint.
- Annual GAAP operating income margin is expected in the range of 3-4.5%.
- Annual non-GAAP operating income margin is expected in the range of 6.5-8%.
- Annual adjusted EBITDA margin is expected in the range of 18-19.5%.
- Depreciation and amortization estimated adjustments for Q2 is 11.5 million.
Challenges Ahead
- GAAP operating loss is expected in the range of $(7)-$(4) million for Q2.
- Non-GAAP operating income (loss) is expected in the range of $(1.5)-$1.5 million for Q2.
- Acquisition-related retention estimated adjustments for Q2 is 1 million.
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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