NYSE$NXDR
Nextdoor Holdings Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Showed solid improvements in business results and advanced the future of Nextdoor with NEXT.
Nextdoor's Q3 2024 saw revenue growth of 17% year-over-year to $66 million, driven by improvements in the Nextdoor Ads Platform and a return to growth for enterprise advertisers. Weekly Active Users (WAU) grew by 13% year-over-year to 45.9 million. The company's adjusted EBITDA improved significantly, reaching ($1 million), and they are raising their full-year guidance for revenue and adjusted EBITDA.
- Revenue grew +17% year-over-year, driven by self-serve revenue momentum and enterprise advertisers.
- Weekly Active Users (WAU) grew +13% year-over-year, reflecting sustained organic user acquisition.
- Adjusted EBITDA improved significantly, representing 33 percentage points of year-over-year margin improvement.
- The company is focused on expanding its advertising capabilities and improving user engagement through the NEXT initiative.
Headline financials
Revenue & EPS history
Nextdoor · Revenue · Quarterly
$65.6M
Forward guidance
Nextdoor provided financial outlook for Q4 2024 and full year 2024.
Tailwinds
- Expects FY 2024 revenue of $245 million, implying 12% year-over-year growth.
- Expects FY 2024 adjusted EBITDA margin improvement approaching 25 percentage points year-over-year.
- Expects Q4 2024 revenue of $63 million, implying 13% year-over-year growth.
- Expects to generate positive free cash flow in Q4 2024.
- Consistently generated approximately $5M of quarterly interest income, and expect changes in net working capital will be favorable.
Headwinds
- Expects Q4 2024 adjusted EBITDA loss of $2 million.
- Natural seasonality related to home services spending may impact Q4 results.
- Forward-looking statements are subject to risks and uncertainties.
- The implementation and potential impact of NEXT initiative is uncertain.
- Migration of customers to Nextdoor Ads Platform is subject to risks.
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 Q3 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro