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Jun 30, 2023
NerdWallet Q2 2023 Earnings Report
NerdWallet reported Q2 2023 results with revenue up 14% year-over-year.
Key Takeaways
NerdWallet's Q2 2023 revenue reached $143.3 million, a 14% increase year-over-year. The company reported a GAAP net loss of $10.7 million, or $0.14 loss per diluted share, and an adjusted EBITDA of $20.7 million.
Revenue was $143.3 million, up 14% year-over-year.
GAAP net loss was $10.7 million, resulting in a $0.14 loss per diluted share.
Adjusted EBITDA reached $20.7 million.
Average Monthly Unique Users (MUUs) totaled 22 million, a 9% increase year-over-year.
Revenue by Segment
Forward Guidance
NerdWallet provided revenue guidance for Q3 2023 in the range of $142 - $147 million and adjusted EBITDA between $18 - $20 million. The company expects a 2023 annual Adjusted EBITDA margin of over 15% and a non-GAAP operating income margin of approximately 2%.
Positive Outlook
- Revenue is expected in the range of $142 - $147 million for Q3 2023.
- Adjusted EBITDA is expected in the range of $18 - $20 million for Q3 2023.
- Expect a 2023 annual Adjusted EBITDA margin of over 15%.
- Expect a year-over-year increase of approximately three percentage points in annual Adjusted EBITDA margin.
- Non-GAAP operating income margin of approximately 2% for full year 2023.
Challenges Ahead
- Variability is expected in quarterly margins.
- GAAP operating loss margin of approximately (1%) for full year 2023.
- 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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