QuinStreet Closes Acquisition of HomeBuddy

About this update from Quinstreet, Inc.

[{"type":"text","content":" FOSTER CITY, Calif.--(BUSINESS WIRE)--\nQuinStreet, Inc. (NASDAQ: QNST), a leader in performance marketplaces and technologies for the financial and home services industries, announced today that it has closed the acquisition of SIREN GROUP AG d/b/a HomeBuddy (“HomeBuddy”). Terms of the acquisition include $115 million in cash at closing and $75 million in post-closing payments payable equally over four years, subject to certain closing adjustments.\n\n\nQuinStreet further announced that it has entered into a new $150 million revolving credit facility with a syndicate of commercial banks.\n\n\nQuinStreet expects to integrate HomeBuddy into its Modernize Home Services business, significantly extending Modernize’s already impressive platform, market footprint, and growth opportunity with complementary new products, media, and clients.\n\n\nQuinStreet expects the acquisition of HomeBuddy to be accretive to its adjusted EBITDA and EPS, adding an expected $30 million or more to adjusted EBITDA in the first twelve months following closing of the transaction, with significantly more margin dollars expected to be added as the Company implements identified synergies from the combination. More details about the transaction will be shared in QuinStreet's FY2026 Q2 earnings call in February 2026, and in subsequent reports filed with the Securities and Exchange Commission.\n\n\nNon-GAAP Financial Measures\n\n\nThis release includes a discussion of adjusted EBITDA, which is a non-GAAP financial measure that is provided as a complement to results provided in accordance with accounting principles generally accepted in the United States of America (\"GAAP\"). The term \"adjusted EBITDA\" refers to a financial measure that we define as net income (loss) less provision for income taxes, depreciation expense, amortization expense, stock-based compensation expense, interest and other expense, net, acquisition costs, contingent consideration adjustment, litigation settlement expense, tax settlement expense, and restructuring costs. This non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, our definition of adjusted EBITDA may not be comparable to the definition as reported by other companies.\n\n\nWe believe adjusted E...

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