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Sep 30, 2024
NerdWallet Q3 2024 Earnings Report
NerdWallet's Q3 2024 financial results were reported, demonstrating revenue growth and strategic investments.
Key Takeaways
NerdWallet reported a 25% year-over-year increase in revenue, reaching $191.3 million. The company exceeded expectations for revenue and non-GAAP operating income, driven by strength in insurance and SMB sectors, alongside improved operational efficiency. NerdWallet also invested in its ecosystem strategy with the acquisition of Next Door Lending.
Revenue reached $191.3 million, a 25% increase year-over-year.
GAAP income from operations was $6.6 million.
GAAP net income was $0.1 million, resulting in $0.00 income per diluted share.
Non-GAAP operating income was $22.9 million.
Revenue by Segment
Forward Guidance
NerdWallet provided guidance for the fourth quarter of 2024, projecting revenue between $164 and $172 million, GAAP operating income between $(1) and $3 million, non-GAAP operating income between $8 and $11 million, and adjusted EBITDA between $21.5 and $24.5 million.
Positive Outlook
- Revenue is expected to grow by 26% year-over-year at the midpoint.
- Estimated adjustments include depreciation and amortization of $12 million.
- Estimated adjustments include acquisition-related retention of $1 million.
- Estimated adjustments include acquisition-related expenses of $0 million.
- Non-GAAP operating income is expected to range from $8 to $11 million.
Challenges Ahead
- GAAP operating income (loss) is expected to be in the range of $(1) to $3 million.
- Estimated adjustments include restructuring between $0 and $1 million.
- Estimated adjustments include capitalized internally developed software costs of $(5) 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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