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Sep 30, 2023
QuinStreet Q1 2024 Earnings Report
QuinStreet's Q1 2024 financial results were released, revealing a revenue of $123.9 million and a GAAP net loss of $(10.6) million.
Key Takeaways
QuinStreet reported a revenue of $123.9 million for Q1 2024, a 14% decrease year-over-year. The company experienced a GAAP net loss of $(10.6) million, or $(0.19) per diluted share, and an adjusted net loss of $(1.4) million, or $(0.03) per diluted share. Non-insurance client vertical revenue grew 18% year-over-year and represented 79% of total revenue.
Quarterly revenue reached $124 million, exceeding consensus.
Non-insurance client verticals demonstrated strong performance and outlook.
A significant positive shift in insurance is anticipated to start in January.
The company showcased a resilient financial model with a robust balance sheet and no bank debt.
Revenue by Segment
Forward Guidance
The company anticipates full fiscal year revenue growth of 5% to 15% year-over-year, with adjusted EBITDA growing significantly faster than revenue. For fiscal Q2, revenue is expected to be between $113 and $118 million, and adjusted EBITDA is expected to be between $(0.5) and $0.5 million.
Positive Outlook
- Expect a significant positive inflection in insurance to begin in January.
- Full fiscal year revenue will grow 5% to 15% year-over-year.
- Adjusted EBITDA will grow significantly faster than revenue.
Challenges Ahead
- Expect revenue to be between $113 and $118 million for fiscal Q2.
- Expect adjusted EBITDA in fiscal Q2 to be between $(0.5) and $0.5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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