Quinstreet, Inc. (NASDAQ:QNST) Q3 2021 Earnings Conference Call May 5, 2021 5:00 PM ET Company Participants Hayden Blair - Senior Manager, Finance & IR Douglas Valenti - Chairman, President & CEO Gregory Wong - CFO Conference Call Participants Jason Kreyer - Craig-Hallum Adam Klauber - William Blair & Company James Goss - Barrington Research Associates Jacob Stephan - Lake Street Capital Markets Joichi Sakai - Singular Research Operator Ladies and gentlemen, good day and welcome to the QuinStreet Third Quar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 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 No. 001-34628 QuinStreet, Inc. (Exact Name of Registrant as Specified in Its Charter) Registrant's telephone number, including area code Securities re ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2020 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 No. 001-34628 QuinStreet, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 77-0512121 (State or Other Jurisdiction of (I.R.S. E ...

Financial Data and Key Metrics Changes - Revenue for Q2 2021 was $135 million, representing a 36% year-over-year growth, excluding divested businesses [17] - Adjusted EBITDA was $10 million, with adjusted net income of $7 million or $0.13 per share [17] - Revenue growth excluding divested businesses was 6% sequentially in the quarter, significantly better than typical seasonal declines [7] Business Line Data and Key Metrics Changes - Financial Services client vertical accounted for 77% of Q2 revenue, growing 18% year-over-year to $104.2 million [17] - Auto Insurance revenue grew 57% year-over-year, while Home Services revenue surged 165% year-over-year to $29.2 million [18] - Credit-driven personal loans and credit card businesses grew 25% sequentially and were up 80% from the June quarter [18] Market Data and Key Metrics Changes - The company noted strong momentum in the Insurance and Home Services sectors, with expectations for continued growth in personal loans and credit cards as the economy improves [13][21] - The trailing 12-month revenue, excluding divested businesses, was $475.7 million, reflecting a three-year compound annual growth rate of 30% [21] Company Strategy and Development Direction - The company is focused on integrating and capturing synergies from the Modernize acquisition, which is ahead of schedule [10][32] - QuinStreet aims to strengthen its products, technologies, and operations for future growth and competitive advantage [9] - The company is optimistic about its position in credit-driven markets, which are seen as future growth engines [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing shift to digital marketing, which is expected to remain a permanent change rather than a temporary trend [58] - The company anticipates continued strong momentum and revenue growth in the Insurance and Home Services verticals for Q3 2021, with revenue expected between $145 million and $150 million [14][22] - Management highlighted that economic activity and employment are key indicators for the performance of personal loans and credit cards [54] Other Important Information - The company closed the quarter with $102.6 million in cash and equivalents, generating $5.6 million in operating cash flow [20] - Normalized free cash flow for the quarter was $7.5 million, or 6% of revenue [20] Q&A Session Summary Question: Growth in personal loans and credit cards - Management noted that both personal loans and credit cards are showing improvement, with personal loans progressing slightly faster [26][28] Question: Home Services organic growth - Management indicated strong double-digit organic growth in Home Services, but could not confirm if it was around 30% [30][32] Question: Specific categories in Home Services - Management confirmed strong growth across core trades in Home Services, with better performance in exterior projects compared to interior ones due to COVID-19 [36][38] Question: Margins and operating structure - Management explained that the quarter's gross margin was affected by seasonality and a similar fixed cost structure [42] Question: Competitive situation in Home Services - Management stated that Home Services has less competitive intensity compared to Insurance, with a fragmented client base [50][51] Question: Impact of interest rates on Home Services - Management does not expect interest rates to significantly impact demand for Home Services, as the market is still in early penetration stages [65]

QuinStreet, Inc. (NASDAQ:QNST) Q1 2021 Results Conference Call October 28, 2020 5:00 PM ET Company Participants Erica Abrams - Investor Relations Doug Valenti - Chief Executive Officer Greg Wong - Chief Financial Officer Conference Call Participants John Campbell - Stephens Inc Jason Kreyer - Craig-Hallum Jim Goss - Barrington Research Ryan Meyers - Lake Street Capital Markets Chris Sakai - Singular Research Operator Good day, and welcome to the QuinStreet First Quarter Fiscal 2021 Financial Results Confere ...

QuinStreet, Inc. (NASDAQ:QNST) Q4 2020 Earnings Conference Call August 5, 2020 5:00 PM ET Company Participants Erica Abrams - Investor Relations Doug Valenti - Chief Executive Officer Greg Wong - Chief Financial Officer Conference Call Participants John Campbell - Stephens Inc. Jason Kreyer - Craig-Hallum Chris Sakai - Singular Research Operator Good day and welcome to the QuinStreet Fourth Quarter and Fiscal Year 2020 Financial Results Conference Call. Today's conference is being recorded. And at this time ...

QuinStreet, Inc. (NASDAQ:QNST) Q3 2020 Earnings Conference Call May 6, 2020 5:00 PM ET Company Participants Erica Abrams – Investor Relations Doug Valenti – Chief Executive Officer Greg Wong – Chief Financial Officer Conference Call Participants Carter Trent – Stephens Jason Kreyer – Craig-Hallum Jim Goss – Barrington Research Adam Klauber – William Blair Operator Good day, ladies and gentlemen, and welcome to the QuinStreet Third Quarter Fiscal 2020 Financial Results Conference Call. Today's conference is ...

Financial Data and Key Metrics Changes - Total revenue increased 13% year-over-year to $118.1 million, marking a record fiscal second quarter for the company [19] - Adjusted EBITDA was $9.1 million, representing 8% of revenue, with adjusted net income at $6.3 million or $0.12 per share on a fully diluted basis [19] - Cash balance grew by $5.6 million to close the quarter at $76.1 million [19][25] Business Line Data and Key Metrics Changes - Financial Services client vertical accounted for 76% of Q2 revenue, growing 20% year-over-year to $89.1 million, with all segments except mortgage showing strong double-digit growth [20][21] - Excluding mortgage, Financial Services grew 27% year-over-year, particularly strong in auto insurance, which saw a 25% increase [21] - Education client vertical represented 12% of Q2 revenue, declining 10% year-over-year to $14.5 million [22] - Other client verticals, including Home Services and B2B, also represented 12% of Q2 revenue, growing 7% year-over-year to $14.5 million [23] Market Data and Key Metrics Changes - The company noted a trend of clients increasing their budgets in digital marketplaces, indicating a shift towards performance-based spending [22] - The company expects continued growth in client spending as they transition more budget to digital platforms [22] Company Strategy and Development Direction - The company is reviewing strategic alternatives with Goldman Sachs, exploring a range of options including potential acquisition offers [12][39] - A divestiture strategy is underway to focus on high-performing businesses, with the sale of the Brazil Education business already completed and Brazil Financial Services in the process of being spun out [14][15] - The company aims to simplify strategic discussions and improve execution by narrowing its focus [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving record revenue in the upcoming fiscal third quarter, aligning with full-year revenue and EBITDA guidance [10][28] - The company anticipates that the transition to a new business model will take several quarters, with expectations for margin expansion as the business scales [16][24] - Management highlighted strong interest and engagement from clients regarding new product offerings, particularly the QRP initiative [46] Other Important Information - The company reported a normalized free cash flow of $8.1 million or 7% of revenue, indicating low capital requirements for its business model [26] - The company expects adjusted EBITDA to expand in the second half of the fiscal year as it enters seasonally stronger quarters [24] Q&A Session Summary Question: Is QRP included in guidance? - Management confirmed that QRP contributions are not included in the current guidance [34] Question: How long to recognize QRP revenue after signing clients? - Management indicated that revenue recognition from QRP is expected to be quick, likely within months, but exact timing is uncertain [35][36] Question: Have live offers been received in the strategic review? - Management confirmed that live offers have been received [39] Question: What is the margin profile expected for QRP? - Management expects QRP to have a gross margin in the 80% range as it scales [45] Question: What components are being considered for divestiture? - Management stated that the Brazil businesses are relatively immaterial but are part of a broader strategy to divest underperforming assets [50][55] Question: How is the Education segment expected to perform? - Management anticipates better performance in the Education segment moving forward, particularly after the exit from DCEH [114][115] Question: What is the outlook for operating expenses? - Management expects operating expenses to grow at a lower rate than revenue growth, targeting mid-single digits annually [121] Question: Is there any impact from CECL accounting changes? - Management confirmed that there has been no impact from CECL on the credit card or personal loans business [126]

Financial Data and Key Metrics Changes - Revenue for Q1 2020 increased 12% year-over-year to $126.6 million, marking a record revenue quarter [16] - Adjusted EBITDA was $9.4 million, representing 7.5% of revenue, while adjusted net income was $6.2 million or $0.12 per share on a fully diluted basis [17] - Cash balance grew by $8 million to $70.5 million by the end of the quarter [17] Business Line Data and Key Metrics Changes - Financial services client vertical accounted for 73% of Q1 revenue, growing 20% year-over-year to $92.9 million; excluding mortgage, this segment grew 32% year-over-year [17][18] - Education client vertical represented 14% of revenue but declined 22% year-over-year to $17.4 million due to the collapse of a major client [19] - Other client verticals, including home services and B2B, grew 25% year-over-year to $16.3 million, representing 13% of total revenue [20] Market Data and Key Metrics Changes - The largest client represented 18% of total revenue, with a reduction in concentration due to increased spending from other clients in the insurance sector [18] - A record number of insurance clients spent $1 million or more per month, indicating a trend of clients increasing their budgets for digital and performance marketplaces [18] Company Strategy and Development Direction - The company is maintaining its full fiscal year outlook for both revenue and EBITDA, expecting higher margins due to a mix shift towards higher margin businesses [7][10] - A strategic review process has been initiated to explore alternatives for enhancing shareholder value, with Goldman Sachs leading the review [12][14] - The company is optimistic about long-term market opportunities and is focused on expanding profitability through media optimization and ramping new businesses with SaaS-like margins [21][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong results in Q2, citing positive impacts from operational changes and a favorable economic environment [13][14] - The mortgage business remains a challenge, with expectations of a long recovery cycle, but management is optimistic about rebuilding this segment [34][36] - The company is seeing good momentum in other areas and expects to continue delivering double-digit revenue growth and expanding margins [24][41] Other Important Information - The company has a strong pipeline for its new QRP product, with expectations of significant revenue opportunities from contracts expected to be signed by the end of December [63][68] - Management emphasized the importance of media investments and optimization as part of their business model, which is expected to contribute to future growth [21][50] Q&A Session Summary Question: What does the strategic review imply? - Management stated that the review will consider a broad range of options, not limited to a sale or breakup, and aims to enhance shareholder value [27] Question: How will operational improvements affect margins? - Management indicated that operational changes have already positively impacted margins and are expected to continue doing so [72] Question: What is the outlook for the mortgage business? - Management acknowledged ongoing challenges in the mortgage sector but expressed optimism about rebuilding efforts [36][88] Question: What are the plans for the cash balance? - Management plans to be opportunistic with acquisitions and maintain a conservative financial profile, with no immediate plans for buybacks or dividends [78][82] Question: How much did CloudControlMedia and MyBankTracker contribute to revenue? - Management noted that it is difficult to quantify their contributions as they are integrated into the overall business [84] Question: What is the expected impact of the mortgage headwind next quarter? - Management expects the mortgage headwind to remain similar to the current quarter's impact [90]

QuinStreet, Inc. (NASDAQ:QNST) Q4 2019 Earnings Conference Call August 8, 2019 5:00 PM ET Company Participants Erica Abrams – Investor Relations Doug Valenti – Chief Executive Officer Greg Wong – Chief Financial Officer Conference Call Participants John Campbell – Stephens Jason Kreyer – Craig-Hallum Patrick Sholl – Barrington Research Adam Klauber – William Blair Eric Martinuzzi – Lake Street Chris Sakai – Singular Research Operator Good day, and welcome to the QuinStreet Fourth Quarter and Fiscal Year 201 ...