QuinStreet reported Q4 revenue of $130.3 million, an 11% decrease year-over-year. The company experienced a GAAP net loss of $(55.9) million, or ($1.03) per diluted share, and an adjusted net loss of $(0.5) million, or $(0.01) per diluted share. However, non-insurance client verticals demonstrated strong double-digit growth, and the company maintained a solid cash flow and balance sheet.
Quarterly revenue reached $130 million, exceeding the outlook.
Non-insurance client verticals continued to perform strongly, growing at a double-digit rate.
Disciplined margin and expense management was maintained.
The company remained solidly cash flow positive with a strong balance sheet and no bank debt.
For fiscal year 2024, QuinStreet expects double-digit growth in revenue and adjusted EBITDA, driven by non-insurance client verticals. A significant positive inflection in auto insurance client spending is expected to begin in January. For fiscal Q1, revenue is expected to be between $120 and $125 million and adjusted EBITDA to be approximately break-even.
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