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Jun 30, 2025
NerdWallet Q2 2025 Earnings Report
NerdWallet reported its second quarter 2025 financial results, with revenue increasing by 24% year-over-year and significant improvements in GAAP and non-GAAP operating income.
Key Takeaways
NerdWallet delivered a strong second quarter in 2025, achieving $186.9 million in revenue, a 24% increase year-over-year, driven by robust growth in Insurance and Emerging Verticals. The company also significantly improved its profitability, reporting GAAP income from operations of $10.7 million and non-GAAP operating income of $20.7 million, demonstrating effective operational efficiency.
Total revenue reached $186.9 million, marking a 24% increase compared to the same quarter last year.
GAAP income from operations was $10.7 million, a significant improvement from a loss in the prior year.
Non-GAAP operating income surged to $20.7 million, up from a loss of $2.7 million in Q2 2024.
Insurance revenue grew by 86% year-over-year to $54.7 million, primarily due to strong growth in auto insurance products.
Revenue by Segment
Forward Guidance
NerdWallet provided guidance for the third quarter of 2025, expecting revenue between $189 million and $197 million, and increased its full-year 2025 forecasts for GAAP operating income, non-GAAP operating income, and Adjusted EBITDA.
Positive Outlook
- Third quarter 2025 revenue is expected to be up 1% year-over-year at the midpoint, ranging from $189 million to $197 million.
- Forecasted 2025 annual GAAP operating income increased to a range of $38 million to $48 million.
- Forecasted 2025 annual non-GAAP operating income increased to a range of $71 million to $79 million.
- Forecasted 2025 annual Adjusted EBITDA increased to a range of $120 million to $128 million.
- Third quarter 2025 GAAP operating income is expected in the range of $17 million to $21 million.
Challenges Ahead
- The company did not provide a quantitative reconciliation of forecasted GAAP net income (loss) to forecasted adjusted EBITDA due to unpredictable fluctuations in market price of capital stock.
- Certain reconciling items for forward-looking GAAP net income (loss) are inherently uncertain and depend on various factors outside of NerdWallet’s control.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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