NYSE$NXDR
Nextdoor Holdings Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Revenue and user growth improved, margins also improved.
Nextdoor's Q2 2024 showed improvements in revenue and weekly active users. The company is focused on revitalizing its platform and improving business execution. Revenue grew by 11% year-over-year, and weekly active users increased by 8%. Adjusted EBITDA also improved significantly.
- Q2 revenue grew +11% year-over-year to $63 million, driven by improved self-serve revenue retention and strong agency spend momentum.
- Q2 Weekly Active Users (WAU) reached 45.1 million, growing +8% year-over-year.
- Adjusted EBITDA improved by 23 percentage points year-over-year.
- The company repurchased 18 million shares for $44 million during the quarter.
Headline financials
Revenue & EPS history
Nextdoor · Revenue · Quarterly
$63.3M
Forward guidance
Nextdoor provided financial outlook for FY 2024 and Q3 2024.
Tailwinds
- FY 2024 revenue growth is expected to be approximately 10% year-over-year.
- FY 2024 adjusted EBITDA margin improvement is expected to approach 20 percentage points year-over-year.
- The company expects to generate positive quarterly free cash flow in Q4 2024.
- AI has the potential to increase user engagement, improve advertiser performance, and unlock operational efficiencies.
- The NEXT initiative is underway and is expected to help unlock the product’s full potential.
Headwinds
- Q3 2024 revenue is expected to be approximately $62 million.
- Q3 2024 adjusted EBITDA loss is expected to be approximately $(8) million.
- Transformation of the platform is a complex and time-consuming process.
- Meaningful signs of product-related progress are not expected until mid-2025.
- The company faces challenges in reinventing its product while maintaining a disciplined approach.
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 Q2 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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