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Sep 30, 2022
Nextdoor Q3 2022 Earnings Report
Revenue grew modestly, WAU grew significantly, and engagement increased, reflecting the company's focus on building an active and valuable community.
Key Takeaways
Nextdoor's Q3 2022 results showed a mixed performance. Revenue grew slightly, but the company saw strong growth in weekly active users (WAU) and increased engagement. The company is focused on building an active and valuable community, which is driving engagement and growth.
Q3 revenue grew 2% year-over-year to $54 million, driven by resilience from mid-market customers but offset by softness in advertising spend.
Weekly Active Users (WAU) increased 17% year-over-year to 38.3 million, with quarter-over-quarter growth of 4% and accelerated session growth.
ARPU declined 12% year-over-year to $1.41 due to WAU growth in less-monetized international markets and lower SMB monetization, despite growth in eCPMs and ads for larger customers.
The company is focused on initiatives to grow neighbors and organizations, increase platform engagement, and drive sustained revenue growth.
Forward Guidance
Nextdoor provided guidance for Q4 2022, expecting revenue between $50 million and $52 million and an adjusted EBITDA loss between $19 million and $17 million. The Q4 guidance implies FY 2022 revenue of between $209.5 million and $211.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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