NerdWallet, Inc. (NASDAQ:NRDS) Q2 2023 Earnings Conference Call August 2, 2023 4:30 PM ET Company Participants Caitlin MacNamee - Head of Investor Relations Tim Chen - Co-Founder & Chief Executive Officer Lauren StClair - Chief Financial Officer Conference Call Participants Justin Patterson - KeyBanc Robert Zeller - Truist Michael Infante - Morgan Stanley Jed Kelly - Oppenheimer Ralph Schackart - William Blair Pete Christiansen - Citi Operator Good day, and thank you for standing by. Welcome to the NerdWall ...

Financial Performance - For the three months ended June 30, 2023, the company reported revenue of $143.3 million, a 14% increase from $125.2 million in the same period of 2022[67]. - The net loss for the three months ended June 30, 2023, was $10.7 million, a 16% increase from a net loss of $9.3 million in the same period of 2022[69]. - Adjusted EBITDA increased by $8.0 million for the three months ended June 30, 2023, and by $20.0 million for the six months ended June 30, 2023, compared to the same periods in 2022[87]. - The effective tax provision was $7.1 million for the three months ended June 30, 2023, compared to $0.2 million for the same period in 2022[83]. - The company reported net cash provided by operating activities of $6.4 million for the six months ended June 30, 2023, a significant increase of $20.8 million compared to a net cash used of $14.4 million in the same period of 2022[98][99]. User Metrics - The company had 22 million and 23 million average Monthly Unique Users (MUUs) for the three and six months ended June 30, 2023, representing a 9% and 8% increase compared to the same periods in 2022[58]. - The company expects Monthly Unique Users to grow over time, although fluctuations may occur based on economic conditions and consumer behavior trends[58]. Revenue Breakdown - Revenue from "Other verticals" increased by $22.4 million, or 48%, for the three months ended June 30, 2023, driven by significant growth in banking and insurance revenues[73]. - Credit card revenue decreased by $3.4 million, or 6%, for the three months ended June 30, 2023, primarily due to reduced marketing spending by financial services partners[71]. - Loans revenue decreased by $0.9 million, or 4%, for the three months ended June 30, 2023, with a notable decline in mortgages revenue by 33%[72]. Expenses - Total costs and expenses for the three months ended June 30, 2023, were $147.5 million, up from $134.2 million in the same period of 2022[67]. - Cost of revenue increased by $4.9 million, or 61%, for the three months ended June 30, 2023, and by $11.0 million, or 69%, for the six months ended June 30, 2023, compared to the same periods in 2022[75]. - Research and development expenses decreased by $0.1 million for the three months ended June 30, 2023, but increased by $2.0 million, or 5%, for the six months ended June 30, 2023, compared to the same periods in 2022[76]. - Sales and marketing expenses increased by $10.0 million, or 11%, for the three months ended June 30, 2023, and by $35.6 million, or 19%, for the six months ended June 30, 2023, compared to the same periods in 2022[78]. - General and administrative expenses increased by $0.3 million, or 1%, for the three months ended June 30, 2023, and by $2.6 million, or 10%, for the six months ended June 30, 2023, compared to the same periods in 2022[79]. Cash and Liquidity - As of June 30, 2023, the company had cash and cash equivalents of $67.1 million, down from $83.9 million as of December 31, 2022[89]. - The company expects its current cash and cash equivalents, along with future cash flow from operations, to meet liquidity requirements for at least twelve months from the date of the filing[95]. - The company had no outstanding balance on its $100 million credit facility as of June 30, 2023, with $98.5 million available to borrow[96]. - The company expects to increase personnel and related expenses and make significant investments to grow its business, which may impact liquidity and cash flows[93]. Acquisitions and Investments - The company completed the acquisition of On the Barrelhead, Inc. on July 11, 2022, enhancing its data-driven product recommendations[56]. - The company paid $32.6 million for the 2022 performance period related to contingent consideration, consisting of $30.9 million for Fundera and the remainder for deferred compensation related to earnouts[92]. - The net cash used in investing activities was $15.3 million for the six months ended June 30, 2023, a slight decrease from $15.9 million in the same period of 2022[98][100]. - Future capital requirements may vary and the company may seek additional financing through equity or debt if necessary[97]. Market Risks and Compliance - The company is exposed to market risks primarily due to fluctuations in interest rates and foreign currency exchange rates[104]. - The company remains compliant with all covenants of its credit facility as of June 30, 2023[96]. - There were no material changes in critical accounting policies during the six months ended June 30, 2023[103].

Start Time: 16:30 January 1, 0000 5:22 PM ET NerdWallet, Inc. (NASDAQ:NRDS) Q1 2023 Earnings Conference Call May 02, 2023, 16:30 PM ET Company Participants Tim Chen - CEO Lauren StClair - CFO Caitlin MacNamee - Head, IR Conference Call Participants James Faucette - Morgan Stanley Jed Kelly - Oppenheimer Justin Patterson - KeyBanc Capital Markets Youssef Squali - Truist Ross Sandler - Barclays Ralph Schackart - William Blair Pete Christiansen - Citi Operator Good day and thank you for standing by. Welcome to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from to Commission file number 001-40994 NerdWallet, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40994 NerdWallet, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or ...

NerdWallet, Inc. (NASDAQ:NRDS) Q4 2022 Earnings Conference Call February 14, 2023 4:30 PM ET Company Participants Caitlin MacNamee - Head, IR Tim Chen - CEO Lauren StClair - CFO Conference Call Participants Ross Sandler - Barclays Justin Patterson - KeyBanc Youssef Squali - Truist Michael Infante - Morgan Stanley Jed Kelly - Oppenheimer Ralph Schackart - William Blair Nicolette Radomski - Citi Operator Good day and thank you for standing by. Welcome to the NerdWallet, Inc. Q4 2022 Earnings Call. At this tim ...

NerdWallet, Inc. (NASDAQ:NRDS) Q3 2022 Earnings Conference Call November 2, 2022 4:30 PM ET Company Participants Caitlin MacNamee - Head of Investor Relations Tim Chen - Chief Executive Officer Lauren StClair - Chief Financial Officer Conference Call Participants Justin Patterson - KeyBanc Capital Markets Ralph Schackart - William Blair Youssef Squali - Truist Securities Jed Kelly - Oppenheimer Ross Sandler - Barclays James Faucette - Morgan Stanley Operator Good day, and thank you for standing by. Welc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from to Commission file number 001-40994 NerdWallet, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incor ...

NerdWallet, Inc. (NASDAQ:NRDS) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Caitlin MacNamee - Head of Investor Relations Tim Chen - Chief Executive Officer Lauren StClair - Chief Financial Officer Conference Call Participants Ralph Schackart - William Blair Ross Sandler - Barclays Justin Patterson - KeyBanc Michael Infante - Morgan Stanley Operator Thank you for standing by. My name is Christie, and I will be your conference operator today. At this time, I would like to ...

Revenue Performance - Revenue for the three months ended June 30, 2022, was $125.2 million, a 37% increase from $91.6 million in the same period of 2021[71]. - Credit card revenue increased by $24.7 million, or 82%, for the three months ended June 30, 2022, driven by improved user experiences[72]. - Loans revenue decreased by $8.3 million, or 26%, for the three months ended June 30, 2022, primarily due to a 55% drop in mortgages revenue[73]. - Other verticals revenue increased by $17.2 million, or 58%, for the three months ended June 30, 2022, with significant growth in SMB products revenue[74]. User Metrics - Monthly Unique Users (MUUs) averaged 20 million for the three months ended June 30, 2022, a 2% increase compared to the same period in 2021[60]. - The company expects MUUs to grow over time, although fluctuations may occur due to macroeconomic conditions and consumer behavior trends[60]. Expenses and Costs - Total costs and expenses for the three months ended June 30, 2022, were $134.2 million, up from $114.3 million in the same period of 2021[69]. - Cost of revenue increased by $0.9 million, or 12%, for the three months ended June 30, 2022, and by $2.1 million, or 15%, for the six months ended June 30, 2022, compared to the same periods in 2021[76]. - Research and development expenses rose by $5.3 million, or 36%, for the three months ended June 30, 2022, and by $10.5 million, or 39%, for the six months ended June 30, 2022, primarily due to increased personnel-related costs[77]. - Sales and marketing expenses increased by $6.2 million, or 8%, for the three months ended June 30, 2022, and by $33.7 million, or 22%, for the six months ended June 30, 2022, mainly driven by higher performance marketing expenses[79]. - General and administrative expenses surged by $6.4 million, or 72%, for the three months ended June 30, 2022, and by $10.6 million, or 59%, for the six months ended June 30, 2022, largely due to increased personnel-related costs and acquisition-related expenses[80]. - Total costs and expenses increased by $19.9 million, or 17%, for the three months ended June 30, 2022, and by $54.9 million, or 25%, for the six months ended June 30, 2022, compared to the same periods in 2021[75]. Profitability and Loss - Net loss for the three months ended June 30, 2022, was $9.3 million, a decrease of $4.6 million or 33% compared to the same period in 2021[70]. - Adjusted EBITDA is used alongside GAAP measures to assess performance and was impacted by increased revenue and expenses[64]. - Adjusted EBITDA increased by $12.7 million for the three months ended June 30, 2022, and by $21.6 million for the six months ended June 30, 2022, compared to the same periods in 2021[85]. Cash Flow and Liquidity - Cash and cash equivalents were $125.8 million as of June 30, 2022, down from $167.8 million as of December 31, 2021[89]. - Net cash used in operating activities decreased by $3.7 million to $14.4 million for the six months ended June 30, 2022, compared to $18.1 million for the same period in 2021[97]. - Net cash used in investing activities increased by $5.1 million to $15.9 million for the six months ended June 30, 2022, primarily due to a $2.5 million increase in property and equipment purchases and a $2.6 million increase in capitalized software development costs[98]. - Net cash used in financing activities decreased by $2.0 million to $11.5 million for the six months ended June 30, 2022, compared to $13.5 million for the same period in 2021[99]. - The company experienced a net decrease in cash and cash equivalents of $42.0 million for the six months ended June 30, 2022, compared to a decrease of $42.3 million for the same period in 2021[96]. - The company anticipates significant investments in personnel and related expenses to support growth, which may impact liquidity and cash flows[93]. - The company may seek additional capital resources through equity sales or debt financing to support future growth and acquisitions[95]. Acquisition and Investments - The company completed the acquisition of On the Barrelhead, Inc. for approximately $70 million in cash and 4.9 million shares of Class A common stock[58]. - As of June 30, 2022, the company had no outstanding balance on its credit facility and had borrowed $70 million to finance the acquisition of OTB[94]. Tax and Compliance - The effective tax rate for the three and six months ended June 30, 2022, was (1.8%) and (7.7%), respectively, compared to 36.4% and 24.2% for the same periods in 2021[83]. - The company was in compliance with all covenants of its credit facility as of June 30, 2022[94]. - There were no material changes in critical accounting policies during the six months ended June 30, 2022[101]. Market Risks - The company is exposed to market risks primarily due to fluctuations in interest rates and foreign currency exchange rates[103]. - The company maintains effective disclosure controls and procedures as of June 30, 2022[105].