Business
QuinStreet Reports Fiscal Fourth Quarter and 2021 Results
- Record FYQ4 revenue of $151 million, growth accelerates to 29% - FYQ4 revenue growth excluding divested businesses accelerates to 47% - Grows net income
About this update from Quinstreet, Inc.
[{"type":"text","content":"- Record FYQ4 revenue of $151 million, growth accelerates to 29%\n - FYQ4 revenue growth excluding divested businesses accelerates to 47%\n - Grows net income 151%, adjusted EBITDA 71% in FYQ4\n - Momentum and strong performance expected to continue in FY22\n\n\nFOSTER CITY, Calif., Aug. 4, 2021 /PRNewswire/ -- QuinStreet, Inc. (Nasdaq: QNST), a leader in performance marketplaces and technologies for the financial services and home services industries, today announced financial results for the fiscal fourth quarter and full year ended June 30, 2021.\nFor the fourth quarter, the Company reported revenue of $151.2 million. Revenue excluding divested businesses grew 47% year-over-year. \nGAAP net income for the fourth quarter was $3.8 million, or $0.07 per diluted share. Adjusted net income was $9.6 million, or $0.17 per diluted share. \nAdjusted EBITDA for the fourth quarter grew 71% year-over-year to $14.3 million.\nFor fiscal year 2021, the Company reported revenue of $578.5 million. Revenue excluding divested businesses grew 36% year-over-year. \nGAAP net income for fiscal year 2021 was $24.0 million, or $0.43 per diluted share. Adjusted net income was $36.4 million, or $0.66 per diluted share. \nAdjusted EBITDA for fiscal year 2021 grew 44% year-over-year to $52.3 million.\nFor the fiscal year, the Company generated $50.6 million in operating cash flow and closed the year with $110.3 million in cash and equivalents. \n\"Revenue growth again accelerated in fiscal Q4 due to continued strong results in Insurance and Home Services, and a return to growth in credit-driven client verticals. We also continued to make excellent progress with growth initiatives,\" commented Doug Valenti, QuinStreet CEO. \n\"We expect the strong business momentum and performance to continue in fiscal Q1 and fiscal year 2022, with continued double-digit organic revenue growth. As a reminder, we lapped the Modernize acquisition on July 1. Revenue in the September quarter, our fiscal Q1, is expected to be between $150 and $155 million, seasonally consistent with last quarter's outperformance and representing 20% year-over-year growth excluding divested businesses at the midpoint of the range. We expect fiscal Q1 adjusted EBITDA to be between $13.0 and $13.5 million. Revenue for fiscal year 2022 is expected to be between $635 and $665 million, representing ...