NerdWallet (NRDS) investor relations material

Executive summary

• Q1 2026 revenue reached $222.2 million, up 6% year-over-year, driven by banking and personal loans, with Consumer revenue up 10% and SMB revenue down 15% due to organic search headwinds.

• Net income surged to $20.4 million from $0.2 million in Q1 2025, with diluted EPS at $0.29, reflecting improved operating leverage and lower expenses.

• Non-GAAP operating income hit $33.7 million and adjusted EBITDA reached $45.2 million, both setting new Q1 records due to strong operating leverage and reduced marketing spend.

• The company reaffirmed the high end of full-year NGOI guidance but lowered the low end due to auto insurance monetization headwinds and increased investment in vertical integration.

• Acquired College Finance Company, LLC for $17.2 million to expand student loan marketplace offerings; contributions not material to Q1 results.

Financial highlights

• Consumer revenue was $197.6 million, up 10% year-over-year, led by deposit accounts and personal loans.

• SMB revenue declined 15% year-over-year to $24.6 million, mainly due to organic search headwinds.

• Q1 GAAP operating income was $27.2 million, up from $0.7 million in the prior-year quarter.

• Adjusted EBITDA was $45.2 million, up 114% year-over-year, with a margin of 20%.

• Adjusted free cash flow for the trailing twelve months was $131 million, up 125% year-over-year.

Outlook and guidance

• Q2 2026 revenue expected between $186 million and $202 million, up 4% year-over-year at the midpoint.

• Q2 Non-GAAP Operating Income guidance is $6 million-$14 million; Q2 GAAP operating income projected at $1–$9 million.

• Full-year NGOI guidance is $85 million-$110 million, with the upper end reaffirmed and the lower end reduced.

• Full-year revenue growth expected in the mid to high single digits year-over-year.

• Management expects continued investment in personnel and development to drive growth, funded primarily by operating cash flows.