Business
QuinStreet Reports Fiscal Fourth Quarter and FY2024 Results
Record quarterly revenue of $198 million, up 52% YoY Seeing significantly improved profitability with operating leverage Steep re-ramp of auto insurance
About this update from Quinstreet, Inc.
[{"type":"text","content":"\n\nRecord quarterly revenue of $198 million, up 52% YoY\n\n\n\nSeeing significantly improved profitability with operating leverage\n\n\n\nSteep re-ramp of auto insurance revenue continues and is broad-based\n\n\n\nExpect strong FY2025 revenue growth and further margin expansion\n\n\n\nStrong cash flow and balance sheet, no bank debt\n\n\n\n FOSTER CITY, Calif.--(BUSINESS WIRE)--\nQuinStreet, 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 fiscal year ended June 30, 2024.\n\n\nFor the fiscal fourth quarter, the Company reported revenue of $198.3 million, up 52% year-over-year.\n\n\nGAAP net loss for the fiscal fourth quarter was $(2.2) million, or $(0.04) per diluted share. Adjusted net income for the fiscal fourth quarter was $6.5 million, or $0.11 per diluted share.\n\n\nAdjusted EBITDA for the fiscal fourth quarter was $11.0 million.\n\n\nFor full fiscal year 2024, the Company reported revenue of $613.5 million, up 6% year-over-year.\n\n\nGAAP net loss for fiscal year 2024 was $(31.3) million, or $(0.57) per share. Adjusted net income for fiscal year 2024 was $6.3 million or $0.11 per diluted share.\n\n\nAdjusted EBITDA for fiscal year 2024 was $20.4 million.\n\n\nFor the fiscal fourth quarter, the Company closed the year with $50.5 million in cash and cash equivalents and no bank debt.\n\n\n“The strong re-ramp of Auto Insurance revenue continued in fiscal Q4, and our outlook going forward for that important client vertical remains strongly and confidently positive,” commented Doug Valenti, CEO of QuinStreet. “The demand from carrier clients is steeply up and to the right, and is broad-based. Our focus in Auto Insurance has shifted to optimizing media supply to best meet the extraordinary demand.\n\n\n“Total Company revenue in fiscal Q4 grew 52% year-over-year to a record $198 million. Auto Insurance revenue grew over 200% year-over-year. Performance in our other client verticals was also strong. Non-Insurance Financial Services revenue grew 13% year-over-year and Home Services revenue grew 12% year-over-year.\n\n\n“Adjusted EBITDA grew about 500% year-over-year in fiscal Q4.\n\n\n“Turning to our outlook for the September quarter, or Q1 of our fiscal 2025, we expect continued ...