QuinStreet reported revenue of $168.6 million for Q3 2024. The company experienced a GAAP net loss of $(7.0) million, or $(0.13) per diluted share, but achieved an adjusted net income of $3.4 million, or $0.06 per diluted share. Adjusted EBITDA was $7.9 million, and the company closed the quarter with $39.6 million in cash and cash equivalents and no bank debt.
Auto Insurance carrier spending has begun a steep re-ramp.
Auto Insurance revenue is expected to continue to ramp in coming quarters.
Continued total company revenue growth and further margin expansion are expected in FYQ4.
Strong growth and margin expansion are expected in fiscal year 2025, which begins July 1.
For fiscal Q4, QuinStreet expects revenue to be between $180 and $190 million, implying year-over-year growth of over 40% at the midpoint. Adjusted EBITDA is expected to be between $10 and $11 million, implying year-over-year growth of over 400%.
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