NerdWallet (NRDS) investor relations material

Executive summary

• Q2 2026 revenue reached $197.3 million, up 6% year-over-year, driven by 8% growth in Consumer revenue and an 11% decline in SMB revenue.

• Net income for Q2 2026 was $4.3 million, down 48% from the prior year, primarily due to higher sales and marketing expenses.

• Adjusted EBITDA for Q2 2026 was $23.1 million, with a margin of 12%.

• The company is undergoing an AI-driven transition, focusing on building owned audiences, vertical integration, and direct customer relationships to enhance engagement and long-term growth.

• Completed the $17.2 million acquisition of College Finance Company, expanding student loan marketplace capabilities.

Financial highlights

• Q2 2026 revenue: $197.3 million, up 6% year-over-year; Consumer revenue: $175.2 million (up 8%), SMB revenue: $22.1 million (down 11%).

• Q2 GAAP operating income: $7 million; non-GAAP operating income: $12.2 million (6% margin), above guidance midpoint.

• Q2 adjusted EBITDA: $23.1 million, margin 12%.

• Trailing 12-month adjusted free cash flow doubled year-over-year to $141.2 million.

• Cash and cash equivalents at quarter-end: $62 million, down from $98.3 million at year-end 2025.

Outlook and guidance

• Q3 2026 revenue expected between $244 million and $260 million, up 17% year-over-year at midpoint.

• Q3 non-GAAP operating income guidance: $29 million to $37 million; Q3 GAAP operating income forecast: $22–$30 million.

• Full-year 2026 GAAP operating income guidance: $65–$80 million; adjusted EBITDA $131–$147 million.

• Guidance includes $15–$20 million non-GAAP operating income impact from customer acquisition spend with payback periods beyond the current year.

• Management expects to fund operations and investments primarily with cash flows from operations.