Business
QuinStreet Reports Record Results in Fiscal Third Quarter
- Reports record quarterly revenue of over $153 million - Grows revenue excluding divested businesses 39% year-over-year - Delivers Adjusted EBITDA growth of
About this update from Quinstreet, Inc.
[{"type":"text","content":"- Reports record quarterly revenue of over $153 million\n - Grows revenue excluding divested businesses 39% year-over-year\n - Delivers Adjusted EBITDA growth of 65% year-over-year\n - Expects momentum and strong performance to continue\n\n\nFOSTER CITY, Calif., May 5, 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 third quarter ended March 31, 2021. \nFor the third quarter, the Company reported revenue of $153.1 million. \nRevenue excluding divested businesses grew 39% year-over-year. \nGAAP net income was $5.0 million representing 3% of revenue, or $0.09 per diluted share. Adjusted net income was $10.9 million representing 7% of revenue, or $0.20 per diluted share. \nAdjusted EBITDA grew 65% year-over-year to $15.4 million and represented 10% of revenue.\nThe Company generated $13.1 million in operating cash flow and $13.1 million in normalized free cash flow, and closed the quarter with $103 million in cash and equivalents. \n\"Revenue growth accelerated in our fiscal Q3 due to strong client and consumer demand in Insurance and Home Services, improving trends in credit-driven client verticals, and excellent progress with growth initiatives,\" commented Doug Valenti, QuinStreet CEO. \n\"We expect the strong business momentum and performance to continue. Revenue in the June quarter, our fiscal Q4, is expected to be between $140 and $145 million, seasonally consistent with last quarter's outperformance and again representing 39% year-over-year growth in revenue excluding divested businesses at the midpoint of the range. We expect adjusted EBITDA to be between $12 and $13 million, consistent with the top-line seasonality of the June quarter, and representing about 50% year-over-year growth at the midpoint of the range,\" concluded Valenti.\nConference Call Today at 2:00 p.m. PTThe Company will host a conference call and corresponding live webcast at 2:00 p.m. PT. To access the conference call dial +1 800-353-6461 (domestic) or +1 334-323-0501 (international callers) using passcode #7999619. A replay of the conference call will be available beginning approximately two hours after the completion of the call by dialing +1 888-203-1112 (domestic) or +1 719-457-0820 (int...