Business
NerdWallet Reports First Quarter 2025 Results
Revenue of $209.2 million, Up 29% Year-Over-Year FINANCIAL HIGHLIGHTS Revenue of $209.2 million GAAP income from operations of $0.7 million GAAP net income
About this update from Nerdwallet, Inc.
[{"type":"text","content":"\nRevenue of $209.2 million, Up 29% Year-Over-Year\n\nFINANCIAL HIGHLIGHTS\n\n\nRevenue of $209.2 million\n\n\nGAAP income from operations of $0.7 million\n\n\nGAAP net income of $0.2 million or $0.00 income per diluted share\n\n\nNon-GAAP operating income of $9.3 million\n\n\nAdjusted EBITDA of $21.1 million\n\n\n SAN FRANCISCO--(BUSINESS WIRE)--\n\nNerdWallet, Inc. (Nasdaq: NRDS), which provides trustworthy financial guidance to consumers and small and mid-sized businesses (SMBs), today reported financial results for its first quarter ended March 31, 2025.\n\n“In Q1, we grew revenue 29% year-over-year to $209 million, led by the strength in our Insurance and banking businesses,” said Tim Chen, Co-Founder and Chief Executive Officer of NerdWallet. “We also saw encouraging signs in mortgages, supported by our acquisition of Next Door Lending, and personal loans. We remain focused on our long-term growth by improving our operational efficiency and investing in vertical integration and user engagement.”\n\nFIRST QUARTER 2025 HIGHLIGHTS\n\nAs previously announced, effective with the fourth quarter of 2024, we present Insurance (previously included in Emerging verticals) as a separate revenue product category. Comparative amounts have been reclassified to conform to the presentation for the three months ended March 31, 2025.\n\n\nInsurance revenue of $74.0 million increased 246% year-over-year, driven by strong growth in auto insurance products as carriers expanded budgets.\n\n\nCredit cards revenue of $38.0 million decreased 24% year-over-year, primarily due to continued headwinds in organic search traffic that have persisted for multiple quarters.\n\n\nSMB products revenue of $28.9 million was down 5% year-over-year, primarily due to a decrease in business loan originations.\n\n\nLoans revenue of $24.0 million was up 12% year-over-year, primarily due to increases both in mortgage loans as we incorporated our recent acquisition of Next Door Lending and in personal loans.\n\n\nEmerging verticals revenue of $44.3 million was up 15% year-over-year, primarily driven by growth in banking products.\n\n\n\n\nSUMMARY FINANCIAL RESULTS \n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\nQuarter Ended\n\n\n\n \n\n\n\n%\n\n\nChange\n\n\n\n \n\n\n\nQuarter Ended\n\n\n\n \n\n\n\n%\n\n\nChange\n\n\n\n\n\n \n\n\n\n \n\n\n\nMar 31,\n\n\n\n \n\n\n\nMar 31,\n\n\n\n...