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NerdWallet, Inc. operates a digital platform that provides financial guidance to consumers and small and mid-sized businesses (SMB) in the United States, the United Kingdom, Australia, and Canada. It offers editorial and content publishing, a consumer and SMB financial education, tools, calculators, guides, and research published under the NerdWallet brand; Marketplace And Referral Services, a tool that enable users to compare, pre-qualify for, or connect with third-party providers of credit cards, consumer loans, small business loans, insurance, mortgages, financial services, and related products, as well as services including fundera, nerdwallet insurance services, nerdwallet advisory, and nerdwallet compare; and Financial Services, a brokerage and advisory services provided by insurance agency, loan and mortgage brokerages, and investment advisory subsidiaries. Additionally, the company provides finance and refinance facilities to students for education. NerdWallet, Inc. was founded in 2009 and is based in San Mateo, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $837M | $115M | $49M | $113M | 13.0% | 21.7% | 60.2% |
| 2024 | $688M | $54M | $30M | $51M | 8.3% | 14.7% | -357.6% |
| 2023 | $599M | $55M | $-12M | $43M | -3.2% | 11.2% | 15.7% |
| 2022 | $539M | $20M | $-10M | $-7M | -3.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 538.90 | 599.40 | 687.60 | 836.60 |
| Operating Revenue | - | 538.90 | 599.40 | 687.60 | 836.60 |
| Cost Of Revenue | - | 39.80 | 54 | 63.50 | 63.70 |
| Gross Profit | - | 499.10 | 545.40 | 624.10 | 772.90 |
| Operating Expense | - | 511.40 | 541.80 | 614.70 | 707.70 |
| Research And Development | - | 77.60 | 80.50 | 82.50 | 66.70 |
| Selling General And Administration | - | 433.80 | 461.30 | 532.20 | 641 |
| Total Expenses | - | 551.20 | 595.80 | 678.20 | 771.40 |
| Operating Income | - | -12.30 | 3.60 | 9.40 | 65.20 |
| Total Operating Income As Reported | - | -19 | 3.60 | 9.40 | 65.20 |
| EBITDA | - | 19.50 | 55.30 | 54.10 | 115.20 |
| Normalized EBITDA | - | 26.20 | 55.30 | 54.10 | 115.20 |
| EBIT | - | -17.50 | 7.10 | 5.70 | 68.80 |
| Interest Income | - | 1.50 | 3.60 | 4.80 | 3.20 |
| Interest Expense | - | 2.50 | 0.80 | 0.70 | 0.60 |
| Net Interest Income | - | -1 | 2.80 | 4.10 | 2.60 |
| Other Non Operating Income Expenses | 2.60 | - | -0.10 | -8.50 | 0.40 |
| Other Income Expense | - | -6.70 | -0.10 | -8.50 | 0.40 |
| Interest Income Non Operating | - | 1.50 | 3.60 | 4.80 | 3.20 |
| Interest Expense Non Operating | - | 2.50 | 0.80 | 0.70 | 0.60 |
| Net Non Operating Interest Income Expense | - | -1 | 2.80 | 4.10 | 2.60 |
| Pretax Income | - | -20 | 6.30 | 5 | 68.20 |
| Tax Provision | - | -9.80 | 18.10 | -25.40 | 19.50 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.41 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -10.20 | -11.80 | 30.40 | 48.70 |
| Net Income From Continuing And Discontinued Operation | - | -10.20 | -11.80 | 30.40 | 48.70 |
| Net Income From Continuing Operation Net Minority Interest | - | -10.20 | -11.80 | 30.40 | 48.70 |
| Net Income | - | -10.20 | -11.80 | 30.40 | 48.70 |
| Net Income Common Stockholders | - | -10.20 | -11.80 | 30.40 | 48.70 |
| Net Income Including Noncontrolling Interests | - | -10.20 | -11.80 | 30.40 | 48.70 |
| Normalized Income | - | -4.91 | -11.80 | 30.40 | 48.70 |
| Diluted NI Availto Com Stockholders | - | -10.20 | -11.80 | 30.40 | 48.70 |
| Basic Average Shares | 51.83 | 70.60 | 76.70 | 76.50 | - |
| Diluted Average Shares | 51.83 | 70.60 | 76.70 | 78.90 | - |
| Reconciled Depreciation | - | 37 | 48.20 | 48.40 | 46.40 |
| Reconciled Cost Of Revenue | - | 39.80 | 54 | 63.50 | 63.70 |
| Total Unusual Items | -18.10 | -6.70 | 0 | 0 | - |
| Total Unusual Items Excluding Goodwill | -18.10 | -6.70 | 0 | 0 | - |
| Special Income Charges | -18.10 | -6.70 | 0 | 0 | - |
| Restructuring And Mergern Acquisition | 18.10 | 6.70 | 0 | 0 | - |
| General And Administrative Expense | - | 58.20 | 59.80 | 61.60 | 56.30 |
| Other Gand A | - | 58.20 | 59.80 | 61.60 | 56.30 |
| Other Operating Expenses | 18.10 | 6.70 | - | - | - |
| Selling And Marketing Expense | - | 375.60 | 401.50 | 470.60 | 584.70 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NerdWallet, Inc.this co. | NRDS | $536M | 11.00↓ discount | 1.43 | 13.0% | 3.93 |
| Gogo Inc. | GOGO | $557M | 43.12 | 5.51 | 12.8% | 8.31 |
| Cars.com Inc. | CARS | $522M | 26.04 | 1.10 | 4.2% | 5.86 |
| Advantage Solutions Inc. | ADV | $509M | - | 0.92 | -41.1% | 26.01 |
| Shutterstock, Inc. | SSTK | $485M | 10.65 |
| - |
| - |
| - |
| - |
| - |
| 0.83 |
| 7.8% |
| 3.27 |
| Nexxen International Ltd. | NEXN | $477M | 19.05 | 1.00 | 5.3% | 3.66 |
| Starz Entertainment Corp. | STRZ | $470M | -2.23 | 0.61 | -27.6% | 1.81 |
| MediaAlpha, Inc. | MAX | $468M | 18.25 | 112.41 | 615.9% | -5.95 |
| Bumble Inc. | BMBL | $454M | -0.65 | 0.80 | -121.6% | -1.11 |
| Peer Median | - | 18.25 | 0.96 | 4.8% | 3.46 | |