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Dec 31, 2023
QuinStreet Q2 2024 Earnings Report
QuinStreet's financial performance for Q2 2024 reflected a decrease in revenue compared to the previous year, but showed positive trends in non-insurance businesses and progress in growth initiatives.
Key Takeaways
QuinStreet reported a decrease in revenue for the fiscal second quarter, with a GAAP net loss and an adjusted net loss. However, the company saw positive trends in non-Insurance businesses and anticipates a strong revenue ramp in the coming quarters, along with adjusted EBITDA margin expansion.
Revenue was $122.7 million, down 8% year-over-year.
GAAP net loss was $(11.6) million, or $(0.21) per diluted share.
Adjusted net loss was $(2.3) million, or $(0.04) per diluted share.
The Company closed the fiscal second quarter with $45.5 million in cash and cash equivalents and no bank debt.
Revenue by Segment
Forward Guidance
The Company expects revenue to be between $160 million and $170 million for fiscal Q3, representing sequential growth of 35% at the midpoint. Adjusted EBITDA is expected to be between $7 million and $9 million. Full fiscal year 2024 revenue is expected to grow between 5% and 15% over fiscal year 2023.
Positive Outlook
- Expect a strong sequential Company revenue ramp in fiscal Q3 and again in Q4
- Expect adjusted EBITDA margins to expand rapidly with revenue growth
- Auto Insurance revenue is expected to be up well over 100% this quarter over the December quarter.
- Client spending increases are broad based.
- Consumer shopping traffic is also up.
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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