NYSE$NXDR
Nextdoor Holdings Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Nextdoor's Q1 2024 financial objectives were achieved, with accelerated revenue growth and improved adjusted EBITDA margin.
Nextdoor's Q1 2024 showed promising results with a 7% year-over-year revenue increase to $53 million, driven by strong self-serve advertiser retention and improvements in key verticals. The company also saw a 17 percentage point improvement in adjusted EBITDA margin and increased self-serve revenue to nearly 50% of total revenue.
- Revenue grew by 7% year-over-year, reaching $53 million, driven by self-serve advertisers.
- Weekly Active Users (WAU) increased to 43.4 million, a 2% year-over-year and 4% quarter-over-quarter growth.
- ARPU grew by 4% year-over-year to $1.22, driven by enhanced self-serve capabilities and increased session depth.
- Adjusted EBITDA margin improved by 17 percentage points year-over-year, driven by higher revenue and lower costs.
Headline financials
Revenue & EPS history
Nextdoor · Revenue · Quarterly
$53.1M
Forward guidance
Nextdoor provided financial outlook for Q2 2024 and updated its full year 2024 outlook.
Tailwinds
- FY 2024 revenue is expected to be in the range of $229 million to $235 million.
- FY 2024 adjusted EBITDA margin is expected to improve by 15 percentage points year-over-year.
- The company expects to generate positive free cash flow in Q4 2024.
- Q2 2024 revenue is expected to be approximately $58 million.
- Full year 2024 operating expenses are expected to be lower than full year 2023.
Headwinds
- Q2 2024 adjusted EBITDA loss is expected to be approximately ($13) million.
- Expected FY 2024 year-over-year adjusted EBITDA margin improvement will be driven by savings related to our Q4’23 cost reduction plan, savings related to reduced rent and corporate restructuring, and additional efficiencies and productivity improvements.
- We continue to repurchase shares, and expect limited FY 2024 share dilution.
- Certain items that impact these measures are uncertain or out of our control and cannot be reasonably predicted.
- Stock-based compensation expense is impacted by the future fair market value of our common stock and other factors, all of which are difficult to predict, subject to frequent change, or not within our control.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2024
-3.6%
Avg return
Earnings day
-2.2%
Avg return
5 days after
-2.1%
Avg return
30 days after
43%
9 / 21 earnings
Positive
+17.6%
Q1 2023
Best reaction
-30.2%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | +15.7% | +24.1% | |
| Q4 2025 | +4.9% | +1.8% | -13.3% | |
| Q3 2025 | -1.8% | +0.0% | +13.4% | |
| Q1 2025 | -7.4% | -7.9% | +7.3% | |
| Q4 2024 | -28.9% | -28.9% | -37.3% | |
| Q3 2024 | +13.6% | +2.4% | +7.2% | |
| Q2 2024 | +6.3% | -6.2% | -11.7% | |
| Q1 2024 | +11.8% | +2.3% | +7.3% | |
| Q4 2023 | +2.5% | +21.5% | +23.3% | |
| Q3 2023 | -13.7% | -18.9% | -6.9% | |
| Q2 2023 | -17.2% | -19.5% | -32.3% | |
| Q1 2023 | +17.6% | +11.2% | +42.4% | |
| Q4 2022 | -8.5% | -5.7% | -2.8% | |
| Q3 2022 | -13.1% | +11.4% | -14.8% | |
| Q2 2022 | -30.2% | -21.2% | -19.1% | |
| Q1 2022 | -12.0% | -1.5% | +1.8% | |
| Q4 2020 | +13.1% | +17.2% | +5.9% | |
| Q4 2021 | -2.9% | -14.0% | -4.5% | |
| Q3 2021 | -9.9% | -1.0% | -29.3% | |
| Q2 2021 | +1.6% | — | — | |
| Q1 2021 | +0.4% | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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