NerdWallet Inc · Q3 2022 earnings

Briefing

NerdWallet's revenue increased by 45% year-over-year, reaching $142.6 million, and the company reported a GAAP net income of $0.7 million.

NerdWallet reported strong Q3 2022 results, with revenue of $142.6 million, up 45% year-over-year. The company's growth was driven by its credit cards, banking, personal loans, and SMB verticals. GAAP net income was $0.7 million, or $0.01 per diluted share, and Adjusted EBITDA was $14.5 million.

• Revenue reached $142.6 million, a 45% increase year-over-year.
• GAAP net income was $0.7 million, resulting in $0.01 net income per diluted share.
• Adjusted EBITDA amounted to $14.5 million.
• The company had 19 million average Monthly Unique Users (MUUs), up 11% year-over-year.

Headline financials

Revenue & EPS history

NerdWallet provided guidance for the fourth quarter of 2022, expecting revenue in the range of $138 - $141 million, representing a 40% year-over-year growth rate at the midpoint. Adjusted EBITDA is expected in the range of $26 - $28 million. The company anticipates a 2022 annual Adjusted EBITDA margin of approximately 12%, a year-over-year increase of approximately five percentage points.