$NRDS

NERDWALLET, INC.

CIK:0001625278|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 197.3	$ 186.9	$ 419.5	$ 396.1
Costs and Expenses:
Cost of revenue	13.4	16.6	27.0	34.8
Research and development	17.5	17.9	34.3	34.7
Sales and marketing	145.4	128.0	294.5	287.7
General and administrative	14.0	13.7	29.5	27.5
Total costs and expenses	190.3	176.2	385.3	384.7
Income from Operations	7.0	10.7	34.2	11.4
Other income, net:
Interest income	0.4	0.8	1.3	1.5
Interest expense	(0.1)	(0.2)	(0.3)	(0.3)
Other gains, net	0.0	0.2	0.1	0.2
Total other income, net	0.3	0.8	1.1	1.4
Income before income taxes	7.3	11.5	35.3	12.8
Income tax provision	3.0	3.3	10.6	4.4
Net Income	$ 4.3	$ 8.2	$ 24.7	$ 8.4
Net Income per Share Attributable to Common Stockholders
Basic (in dollars per share)	$ 0.07	$ 0.11	$ 0.37	$ 0.11
Diluted (in dollars per share)	$ 0.07	$ 0.11	$ 0.37	$ 0.11
Weighted-average Shares Used in Computing Net Income per Share Attributable to Common Stockholders
Basic (in shares)	65.1	74.8	66.6	74.5
Diluted (in shares)	65.8	76.6	67.6	76.3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net Income	$ 24.7	$ 8.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19.0	25.3
Stock-based compensation	13.9	14.9
Deferred taxes	8.4	(3.4)
Non-cash lease costs	0.8	1.3
Other losses, net	0.1	1.1
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable	(2.0)	3.8
Prepaid expenses and other assets	6.5	1.8
Mortgage loans held for sale	1.8	(9.0)
Accounts payable	4.2	2.9
Accrued expenses and other current liabilities	(0.2)	(1.6)
Operating lease liabilities	(0.9)	(1.7)
Other liabilities	0.6	0.4
Net cash provided by operating activities	76.9	44.2
Investing Activities:
Purchase of investment	(2.0)	0.0
Liquidation of certificate of deposit	2.3	0.0
Capitalized software development costs	(7.4)	(8.1)
Purchases of property and equipment	(0.5)	(0.9)
Business combinations, net of cash acquired	(16.1)	(5.0)
Net cash used in investing activities	(23.7)	(14.0)
Financing Activities:
Net borrowing (repayment) on warehouse line of credit	(1.7)	8.7
Proceeds from exercises of stock options	0.7	0.3
Tax payments related to net-share settlements on restricted stock units	(0.8)	(0.8)
Issuances of Class A common stock under Employee Stock Purchase Plan	1.2	1.0
Repurchases of Class A common stock	(88.8)	(0.3)
Net cash provided by (used in) financing activities	(89.4)	8.9
Effect of exchange rate changes on cash and cash equivalents	(0.1)	(0.1)
Net increase (decrease) in cash and cash equivalents	(36.3)	39.0
Cash and Cash Equivalents:
Beginning of period	98.3	66.3
End of period	62.0	105.3
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Capitalized software development costs recorded in accounts payable and accrued expenses and other current liabilities	0.6	0.6
Repurchases of Class A common stock recorded in accrued expenses and other current liabilities	0.8	0.0
Supplemental Disclosures of Cash Flow Information:
Income tax payments	1.8	14.4
Income tax refunds	9.5	0.0
Cash paid for interest	0.3	0.2
Supplemental Cash Flow Disclosure Related to Operating Leases:
Cash paid for amounts included in the measurement of lease liabilities	1.2	1.9
Lease liabilities arising from obtaining right-of-use assets	$ 0.0	$ 4.0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 62.0	$ 98.3
Accounts receivable—net	113.6	111.0
Prepaid expenses and other current assets	25.7	35.4
Total current assets	201.3	244.7
Property, equipment and software—net	29.1	31.8
Goodwill	136.3	123.5
Intangible assets—net	19.1	21.5
Deferred tax asset—noncurrent	20.9	29.4
Right-of-use assets	6.3	7.1
Other assets	5.0	3.1
Total Assets	418.0	461.1
Current liabilities:
Accounts payable	12.7	5.4
Accrued expenses and other current liabilities	64.2	65.5
Total current liabilities	76.9	70.9
Other liabilities—noncurrent	15.3	15.7
Total liabilities	92.2	86.6
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock—$0.0001 par value per share—5,000 shares authorized; zero shares issued and outstanding	0.0	0.0
Common stock—$0.0001 par value per share—296,686 shares authorized; 63,879 and 71,289 shares issued and outstanding as of June 30, 2026 and December 31, 2025	0.0	0.0
Additional paid-in capital	578.6	562.5
Accumulated other comprehensive income (loss)	(0.2)	0.1
Accumulated deficit	(252.6)	(188.1)
Total stockholders’ equity	325.8	374.5
Total Liabilities and Stockholders’ Equity	$ 418.0	$ 461.1