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Mar 31, 2020
QuinStreet Q3 2020 Earnings Report
Reported record quarterly revenue and net income.
Key Takeaways
QuinStreet reported record quarterly revenue of $128.7 million, an increase of 11% year-over-year. GAAP net income was $13.9 million, or $0.26 per diluted share. The company generated $15.2 million in operating cash flow and closed the period with $97.1 million in cash and equivalents.
Record quarterly revenue of $128.7 million, up 11% year-over-year.
Revenue, excluding divested businesses, was $126.3 million, up 15% year-over-year.
GAAP net income was $13.9 million, or $0.26 per diluted share.
Cash and equivalents totaled $97.1 million at the end of the quarter.
Forward Guidance
The Company expects revenue growth and EBITDA to continue to be impacted by coronavirus-related disruption and uncertainty. The Company's current estimate is for fiscal Q4 revenue excluding divested businesses to be down between 5% and 10% year-over-year. Adjusted EBITDA and cash flow margins are expected to be in the lower single-digits.
Positive Outlook
- Focus on serving clients and media partners.
- Progress on key new product, media and business expansion initiatives.
- Preserving cash and cash flow.
- Protecting employees from health risks and economic uncertainty.
- Confident and enthusiastic about strategy to narrow and focus efforts on a smaller number of biggest and best long-term business opportunities.
Challenges Ahead
- Continued volatility in client budgets and media, particularly in non-Insurance client verticals.
- Forecasting specifics in these uncertain and unprecedented times is challenging.
- Fiscal Q4 revenue excluding divested businesses expected to be down between 5% and 10% year-over-year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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