NerdWallet, Inc. (NASDAQ:NRDS) Q4 2022 Earnings Conference Call February 14, 2023 4:30 PM ET Company Participants Caitlin MacNamee - Head, IR Tim Chen - CEO Lauren StClair - CFO Conference Call Participants Ross Sandler - Barclays Justin Patterson - KeyBanc Youssef Squali - Truist Michael Infante - Morgan Stanley Jed Kelly - Oppenheimer Ralph Schackart - William Blair Nicolette Radomski - Citi Operator Good day and thank you for standing by. Welcome to the NerdWallet, Inc. Q4 2022 Earnings Call. At this tim ...

NerdWallet, Inc. (NASDAQ:NRDS) Q3 2022 Earnings Conference Call November 2, 2022 4:30 PM ET Company Participants Caitlin MacNamee - Head of Investor Relations Tim Chen - Chief Executive Officer Lauren StClair - Chief Financial Officer Conference Call Participants Justin Patterson - KeyBanc Capital Markets Ralph Schackart - William Blair Youssef Squali - Truist Securities Jed Kelly - Oppenheimer Ross Sandler - Barclays James Faucette - Morgan Stanley Operator Good day, and thank you for standing by. Welc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from to Commission file number 001-40994 NerdWallet, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incor ...

NerdWallet, Inc. (NASDAQ:NRDS) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Caitlin MacNamee - Head of Investor Relations Tim Chen - Chief Executive Officer Lauren StClair - Chief Financial Officer Conference Call Participants Ralph Schackart - William Blair Ross Sandler - Barclays Justin Patterson - KeyBanc Michael Infante - Morgan Stanley Operator Thank you for standing by. My name is Christie, and I will be your conference operator today. At this time, I would like to ...

Revenue Performance - Revenue for the three months ended June 30, 2022, was $125.2 million, a 37% increase from $91.6 million in the same period of 2021[71]. - Credit card revenue increased by $24.7 million, or 82%, for the three months ended June 30, 2022, driven by improved user experiences[72]. - Loans revenue decreased by $8.3 million, or 26%, for the three months ended June 30, 2022, primarily due to a 55% drop in mortgages revenue[73]. - Other verticals revenue increased by $17.2 million, or 58%, for the three months ended June 30, 2022, with significant growth in SMB products revenue[74]. User Metrics - Monthly Unique Users (MUUs) averaged 20 million for the three months ended June 30, 2022, a 2% increase compared to the same period in 2021[60]. - The company expects MUUs to grow over time, although fluctuations may occur due to macroeconomic conditions and consumer behavior trends[60]. Expenses and Costs - Total costs and expenses for the three months ended June 30, 2022, were $134.2 million, up from $114.3 million in the same period of 2021[69]. - Cost of revenue increased by $0.9 million, or 12%, for the three months ended June 30, 2022, and by $2.1 million, or 15%, for the six months ended June 30, 2022, compared to the same periods in 2021[76]. - Research and development expenses rose by $5.3 million, or 36%, for the three months ended June 30, 2022, and by $10.5 million, or 39%, for the six months ended June 30, 2022, primarily due to increased personnel-related costs[77]. - Sales and marketing expenses increased by $6.2 million, or 8%, for the three months ended June 30, 2022, and by $33.7 million, or 22%, for the six months ended June 30, 2022, mainly driven by higher performance marketing expenses[79]. - General and administrative expenses surged by $6.4 million, or 72%, for the three months ended June 30, 2022, and by $10.6 million, or 59%, for the six months ended June 30, 2022, largely due to increased personnel-related costs and acquisition-related expenses[80]. - Total costs and expenses increased by $19.9 million, or 17%, for the three months ended June 30, 2022, and by $54.9 million, or 25%, for the six months ended June 30, 2022, compared to the same periods in 2021[75]. Profitability and Loss - Net loss for the three months ended June 30, 2022, was $9.3 million, a decrease of $4.6 million or 33% compared to the same period in 2021[70]. - Adjusted EBITDA is used alongside GAAP measures to assess performance and was impacted by increased revenue and expenses[64]. - Adjusted EBITDA increased by $12.7 million for the three months ended June 30, 2022, and by $21.6 million for the six months ended June 30, 2022, compared to the same periods in 2021[85]. Cash Flow and Liquidity - Cash and cash equivalents were $125.8 million as of June 30, 2022, down from $167.8 million as of December 31, 2021[89]. - Net cash used in operating activities decreased by $3.7 million to $14.4 million for the six months ended June 30, 2022, compared to $18.1 million for the same period in 2021[97]. - Net cash used in investing activities increased by $5.1 million to $15.9 million for the six months ended June 30, 2022, primarily due to a $2.5 million increase in property and equipment purchases and a $2.6 million increase in capitalized software development costs[98]. - Net cash used in financing activities decreased by $2.0 million to $11.5 million for the six months ended June 30, 2022, compared to $13.5 million for the same period in 2021[99]. - The company experienced a net decrease in cash and cash equivalents of $42.0 million for the six months ended June 30, 2022, compared to a decrease of $42.3 million for the same period in 2021[96]. - The company anticipates significant investments in personnel and related expenses to support growth, which may impact liquidity and cash flows[93]. - The company may seek additional capital resources through equity sales or debt financing to support future growth and acquisitions[95]. Acquisition and Investments - The company completed the acquisition of On the Barrelhead, Inc. for approximately $70 million in cash and 4.9 million shares of Class A common stock[58]. - As of June 30, 2022, the company had no outstanding balance on its credit facility and had borrowed $70 million to finance the acquisition of OTB[94]. Tax and Compliance - The effective tax rate for the three and six months ended June 30, 2022, was (1.8%) and (7.7%), respectively, compared to 36.4% and 24.2% for the same periods in 2021[83]. - The company was in compliance with all covenants of its credit facility as of June 30, 2022[94]. - There were no material changes in critical accounting policies during the six months ended June 30, 2022[101]. Market Risks - The company is exposed to market risks primarily due to fluctuations in interest rates and foreign currency exchange rates[103]. - The company maintains effective disclosure controls and procedures as of June 30, 2022[105].

NerdWallet, Inc. (NASDAQ:NRDS) Q1 2022 Earnings Conference Call May 3, 2022 5:00 PM ET Company Participants Caitlin MacNamee - Head of Investor Relations Tim Chen - Co-founder, Chairman & Chief Executive Officer Lauren St.Clair - Chief Financial Officer Conference Call Participants Robert Zeller - Truist Securities Nat Schindler - Bank of America Justin Patterson - KeyBanc Capital Markets Ross Sandler - Barclays Ralph Schackart - William Blair Jed Kelly - Oppenheimer James Faucette - Morgan Stanley Pete Chr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40994 NerdWallet, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporati ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40994 NerdWallet, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or ...

Q4 2021 Shareholder Letter nerdwallet | --- | --- | --- | --- | |-------|---------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | Turn to | D ...

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $100 million, representing a 75% year-over-year increase, with a full-year revenue of $380 million, growing 55% year-over-year [20][22] - Adjusted EBITDA for Q4 was $13 million, with a margin of 14%, while the full-year adjusted EBITDA was $27 million at a 7% margin [27][28] - The two-year revenue CAGR is approximately 30%, consistent with historical growth [21][61] Business Line Data and Key Metrics Changes - Credit Cards generated Q4 revenue of $35 million, growing 109% year-over-year, and full-year revenue of $124 million, growing 58% year-over-year [23] - Loans produced Q4 revenue of $30 million, growing 46% year-over-year, with full-year revenue of $126 million, also growing 55% year-over-year [24][25] - Other Verticals achieved Q4 revenue of $35 million, growing 76% year-over-year, and full-year revenue of $129 million, growing 51% year-over-year [26] Market Data and Key Metrics Changes - The average Monthly Unique Users (MUUs) reached 19 million in Q4, a 22% increase year-over-year, with over 10 million registered users by year-end [11][28] - The company experienced a significant increase in user engagement, particularly in the SMB loans segment, with a net dollar repeat rate exceeding 65% for the Q1 2021 cohort [12] Company Strategy and Development Direction - The company aims to expand into new verticals and geographies, deepen integration within existing verticals, and enhance consumer engagement [10] - The launch of the "Unlock Your Dreams" brand campaign is intended to increase brand awareness and establish the company as a trusted source for financial guidance [15][75] - The company is focusing on creating equitable financial products and services through its Corporate Social Responsibility program [19] Management's Comments on Operating Environment and Future Outlook - Management noted that the financial complexities facing consumers are unprecedented, including stock market volatility and rising inflation [16] - The company is optimistic about future growth opportunities, particularly in the SMB vertical, which is expected to be one of the fastest-growing areas [48][61] - The first quarter of 2022 is expected to generate revenue between $122 million and $125 million, representing a 37% year-over-year growth at the midpoint [29][30] Other Important Information - The company made a key leadership hire, appointing John Caine as Chief Product Officer to enhance product development [17] - The company is investing heavily in marketing to capitalize on the shift from offline to online consumer behavior [27][31] Q&A Session Summary Question: Key product initiatives for the year - Management highlighted several initiatives aimed at driving member engagement, with John Caine helping to align and execute these initiatives [36] Question: Puts and takes around EBITDA margins - Management discussed the recovery of pricing and the continued investment in marketing initiatives, which may put downward pressure on margins in the short term but are expected to lead to long-term margin accretion [39] Question: MUUs versus pricing dynamics - Management acknowledged the tough year-over-year comparison for MUUs due to the previous year's meme stock phenomenon but noted normal seasonal traffic increases [44] Question: Response to rising interest rates in the mortgage market - Management indicated that while refinancing may become less attractive, they expect to grow their overall Loans category, particularly in purchases [52] Question: Long-term growth outlook - Management expressed confidence in consistent growth, with a two-year CAGR of approximately 30% and significant opportunities across all verticals [61] Question: Sales and marketing strategy - Management explained their approach to sales and marketing, emphasizing the importance of organic, brand, and performance marketing, with over 70% of traffic coming from organic sources [70] Question: International strategy and market entry - Management stated that while the US market remains a priority, they are excited about international expansion in the UK and Canada, executing their familiar playbook [72] Question: Performance of the "Unlock Your Dreams" campaign - Management reported positive results from the campaign, focusing on increasing brand awareness and affinity [75]