NRDS earnings analysis
What we found in NRDS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
NerdWallet reported a Q1 2026 revenue of $222.2 million, a 6% increase from $209.2 million year-over-year, while diluted EPS came in at $0.29, falling short of estimates by 9 cents. Management reduced full-year guidance for operating income to a range of $65-$90 million, indicating challenges ahead, particularly in their SMB segment which saw a 15% decline in revenue.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Total revenue increased by $13 million or 6% YoY to $222.2 million, driven primarily by a 10% increase in consumer revenue.
- Increased Income from Operations
- Income from operations rose to $27.2 million from $0.7 million in the prior year, marking a $26.5 million increase.
- Improved Cash Flow from Operations
- Cash provided by operating activities rose to $35.7 million, compared to $26.7 million in Q1 2025, driven by a $20.2 million increase in net income.
- Cost of Revenue Decreased
- Cost of revenue fell to $13.6 million from $18.2 million, a decrease of 26%, primarily due to reduced amortization expenses.
- Significant Growth in Non-GAAP Income
- Non-GAAP operating income soared to $33.7 million, up 262% from $9.3 million YoY.
- Improvement in Adjusted EBITDA
- Adjusted EBITDA increased to $45.2 million, a 114% rise compared to $21.1 million the previous year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Reduced Annual Guidance
- Full-year 2026 operating income guidance was lowered from $80-$100 million to a new range of $65-$90 million.
- Declining SMB Revenue
- SMB revenue decreased by $4.3 million or 15% year-over-year, attributed to pressures in organic search traffic.
- Substantial Cash Outflow in Financing Activities
- Net cash used in financing activities was $57.9 million, driven by $66 million in share repurchases.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.29
- Gross margin
- 88%
- Operating margin
- 12%
- Segment
- Consumer
- Segment
- SMB
What they said about what is next.
2026 Q2 revenue guidance adjusted to $186-$202 million.
The filing reads worse than the one before it.
What came before.
- 10-K · February 25, 2026
- NerdWallet reported full-year 2025 revenue of $836.6 million, up 22% from $687.6 million in 2024, and net income of $48.7 million (up 60% from $30.4 million in 2024). The company emphasizes a marketplace + content +…
- 10-Q · November 6, 2025
- NerdWallet reported a strong Q3 (three months ended September 30, 2025) with revenue of $215.1M (up from $191.3M a year ago) and diluted EPS of $0.34. Operating income improved to $34.4M (16.0% operating margin) versus…
- 10-Q · August 7, 2025
- NerdWallet reported Q2 revenue of $186.9M (up from $150.6M a year ago) and returned to operating profitability with income from operations of $10.7M versus a $(9.6)M loss in Q2 2024. Net income was $8.2M (diluted EPS…
- 10-K · February 19, 2025
- NerdWallet's 10-K report for 2024 showcases solid performance with a revenue of $687.6 million, representing a year-over-year growth of 15%. The company achieved a significant recovery, generating a net income of $30.4…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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