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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% | - |
| 2023 | $599M | $55M | $-12M | $43M | -3.2% | 11.2% | - |
| 2022 | $539M | $20M | $-10M | $-7M | -3.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 |
| Operating Income | -12.30 | 3.60 | 9.40 | 65.20 |
| EBITDA | 19.50 | 55.30 | 54.10 | 115.20 |
| EBIT | -17.50 | 7.10 | 5.70 | 68.80 |
| Pretax Income | -20 | 6.30 | 5 | 68.20 |
| Tax Provision | -9.80 | 18.10 | -25.40 | 19.50 |
| Net Income | -10.20 | -11.80 | 30.40 | 48.70 |
| Net Income Common Stockholders | -10.20 | -11.80 | 30.40 | 48.70 |
| Total Expenses | 551.20 | 595.80 | 678.20 | 771.40 |
| Interest Expense | 2.50 | 0.80 | 0.70 | 0.60 |
| Interest Income | 1.50 | 3.60 | 4.80 | 3.20 |
| Research And Development | 77.60 | 80.50 | 82.50 | 66.70 |
| Selling General And Administration | 433.80 | 461.30 | 532.20 | 641 |
| Normalized EBITDA | 26.20 | 55.30 | 54.10 | 115.20 |
| Normalized Income | -4.91 | -11.80 | 30.40 | 48.70 |
| Basic EPS | -0.14 | -0.15 | 0.40 | 0 |
| Diluted EPS | -0.14 | -0.15 | 0.38 | 0 |
| Tax Effect Of Unusual Items | -1.41 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.29 |
| Total Unusual Items | -6.70 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -6.70 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -10.20 | -11.80 | 30.40 | 48.70 |
| Reconciled Depreciation | 37 | 48.20 | 48.40 | 46.40 |
| Reconciled Cost Of Revenue | 39.80 | 54 | 63.50 | 63.70 |
| Net Interest Income | -1 | 2.80 | 4.10 | 2.60 |
| Net Income From Continuing And Discontinued Operation | -10.20 | -11.80 | 30.40 | 48.70 |
| Total Operating Income As Reported | -19 | 3.60 | 9.40 | 65.20 |
| Diluted Average Shares | 70.60 | 76.70 | 78.90 | 0 |
| Basic Average Shares | 70.60 | 76.70 | 76.50 | 0 |
| Diluted NI Availto Com Stockholders | -10.20 | -11.80 | 30.40 | 48.70 |
| Net Income Including Noncontrolling Interests | -10.20 | -11.80 | 30.40 | 48.70 |
| Net Income Continuous Operations | -10.20 | -11.80 | 30.40 | 48.70 |
| Other Income Expense | -6.70 | -0.10 | -8.50 | 0.40 |
| Other Non Operating Income Expenses | 0 | -0.10 | -8.50 | 0.40 |
| Special Income Charges | -6.70 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 6.70 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -1 | 2.80 | 4.10 | 2.60 |
| Interest Expense Non Operating | 2.50 | 0.80 | 0.70 | 0.60 |
| Interest Income Non Operating | 1.50 | 3.60 | 4.80 | 3.20 |
| Other Operating Expenses | 6.70 | 0 | 0 | 0 |
| Selling And Marketing Expense | 375.60 | 401.50 | 470.60 | 584.70 |
| General And Administrative Expense | 58.20 | 59.80 | 61.60 | 56.30 |
| Other Gand A | 58.20 | 59.80 | 61.60 | 56.30 |
| Operating Revenue | 538.90 | 599.40 | 687.60 | 836.60 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NerdWallet, Inc.this co. | NRDS | $711M | 16.89↓ discount | 2.06 | 13.0% | 7.91 |
| iHeartMedia, Inc. | IHRT | $771M | - | -0.43 | 25.9% | 11.41 |
| QuinStreet, Inc. | QNST | $767M | 157.77 | 3.04 | 1.9% | 21.34 |
| Reservoir Media, Inc. | RSVR | $644M | 98.10 | 1.72 | 2.1% | 16.35 |
| Bumble Inc. | BMBL | $639M | - |
| 0.96 |
| -101.8% |
| 3.98 |
| Cars.com Inc. | CARS | $626M | 34.28 | 1.36 | 4.2% | 6.92 |
| Shutterstock, Inc. | SSTK | $617M | 13.66 | 1.07 | 7.8% | 4.02 |
| NXDR | NXDR | $600M | - | 1.44 | -12.6% | -3.74 |
| The Marcus Corporation | MCS | $583M | 46.29 | 1.27 | 2.8% | 9.95 |
| Peer Median | - | 46.29 | 1.32 | 2.4% | 8.44 | |