Fourth Quarter Revenue of $133.7 million,
Down 6% Year-Over-Year
FINANCIAL HIGHLIGHTS
- Revenue of $133.7 million for Q4’23 and $599.4 million for full
year 2023
- GAAP income from operations of $4.6 million for Q4’23 and $3.6
million for full year 2023
- GAAP net loss of $2.3 million or $0.03 loss per diluted share
for Q4’23 and GAAP net loss of $11.8 million or $0.15 loss per
diluted share for full year 2023
- Non-GAAP operating income of $12.6 million for Q4’23 and $26.4
million for full year 2023
- Adjusted EBITDA of $29.3 million for Q4’23 and $97.6 million
for full year 2023
NerdWallet, Inc. (Nasdaq: NRDS), which provides trustworthy
financial guidance to consumers and small and mid-sized businesses
(SMBs), today reported financial results for its fourth quarter and
full year ended December 31, 2023.
“Though headwinds outweighed tailwinds in our business in 2023,
we made critical structural improvements to increase our efficiency
and relentlessly improve our operations, setting us up for margin
leverage as growth returns,” said Tim Chen, Co-Founder and CEO of
NerdWallet. “With 2024 well underway, we will continue to
prioritize relentless self-improvement, our long-term orientation,
and our commitment to consumers to drive results as we make
progress towards our vision of building a trusted financial
ecosystem.”
“Although we did not meet our revenue or adjusted EBITDA outlook
for Q4, we finished 2023 with $599 million in revenue—an 11%
increase over the previous year,” said Lauren StClair, CFO of
NerdWallet. “While we are at a tough moment in this credit cycle,
particularly in interest rate-sensitive areas, we are cautiously
optimistic that the beginning of recovery is in sight, and are
excited to continue helping consumers navigate their financial
questions in the year ahead.”
FOURTH QUARTER 2023 HIGHLIGHTS
- Credit cards revenue of $43.2 million decreased 18%
year-over-year, primarily due to reduced marketing spending by our
financial services partners amidst a combination of increasingly
cautious underwriting and heightened balance sheet conservatism
following the regional banking crisis.
- Loans revenue of $23.6 million was up 5% year-over-year,
primarily due to growth in personal loans, partially offset by a
decrease in mortgages reflecting higher interest rates and
continuing macroeconomic headwinds.
- SMB products revenue, previously included in Other verticals,
of $27.6 million was up 6% year-over-year, which—despite
macroeconomic headwinds for the loans industry broadly—was more
than offset by our ability to drive revenue growth in the other
scaling areas of SMB products such as business credit cards.
- Emerging verticals revenue, previously named Other verticals,
of $39.3 million was down 3% year-over-year, as a decrease in
insurance products was partially offset by growth in banking
products.
- We had 24 million average Monthly Unique Users (MUUs), which
was up 24% year-over-year. We saw strong engagement in areas such
as travel products, personal loans and insurance.
SUMMARY FINANCIAL RESULTS
Quarter Ended
%
Change
Quarter Ended
%
Change
Dec 31,
Dec 31,
Sep 30,
(in millions, except per share
amounts)
2023
2022
YoY
2023
QoQ
Revenue
$
133.7
$
142.0
(6
%)
$
152.8
(12
%)
Credit cards(1)
43.2
53.1
(18
%)
54.0
(20
%)
Loans(2)
23.6
22.4
5
%
32.9
(28
%)
SMB products(3)
27.6
25.9
6
%
24.7
11
%
Emerging verticals(4)
39.3
40.6
(3
%)
41.2
(5
%)
Income from operations
$
4.6
$
7.9
(42
%)
$
4.0
14
%
Net income (loss)
$
(2.3
)
$
8.9
NM
$
(0.5
)
348
%
Net income (loss) per share
Basic
$
(0.03
)
$
0.12
NM
$
(0.01
)
200
%
Diluted
$
(0.03
)
$
0.12
NM
$
(0.01
)
200
%
Non-GAAP financial measures(5)
Non-GAAP operating income
$
12.6
$
13.7
(9
%)
$
9.5
30
%
Adjusted EBITDA
$
29.3
$
31.0
(6
%)
$
26.7
9
%
Cash and cash equivalents
$
100.4
$
83.9
20
%
$
86.6
16
%
Average Monthly Unique Users(6)
24
20
24
%
24
3
%
______________
(1)
Credit cards revenue consists of revenue
from consumer credit cards.
(2)
Loans revenue includes revenue from
personal loans, mortgages, student loans and auto loans.
(3)
SMB products revenue includes revenue from
loans, credit cards and other financial products and services
intended for small and mid-sized businesses.
(4)
Emerging verticals revenue includes
revenue from other product sources, including banking, insurance,
investing and NerdWallet UK.
(5)
Non-GAAP operating income and adjusted
EBITDA are non-GAAP measures. See “Non-GAAP Financial Measures” for
more information.
(6)
We define a Monthly Unique User as a
unique user with at least one session in a given month as
determined by unique device identifiers.
Effective with the fourth quarter of 2023, given the relative
size and long-term opportunity of SMB products, we present SMB
products (previously included in Other verticals) as a separate
revenue product category. Additionally, our historical Other
verticals product category, exclusive of SMB products, is renamed
Emerging verticals. The following table provides our historical
revenue by product category:
Quarter Ended
(in millions)
Dec 31, 2023
Sep 30, 2023
Jun 30, 2023
Mar 31, 2023
Dec 31, 2022
Sep 30, 2022
Jun 30, 2022
Mar 31, 2022
Credit cards
$
43.2
$
54.0
$
51.2
$
61.3
$
53.1
$
57.4
$
54.6
$
45.2
Loans
23.6
32.9
23.1
22.0
22.4
28.4
24.0
34.3
SMB products
27.6
24.7
23.7
25.2
25.9
23.3
21.0
21.2
Emerging verticals
39.3
41.2
45.3
61.1
40.6
33.5
25.6
28.4
Total revenue
$
133.7
$
152.8
$
143.3
$
169.6
$
142.0
$
142.6
$
125.2
$
129.1
QUARTERLY CONFERENCE CALL
A conference call to discuss NerdWallet’s fourth quarter 2023
financial results will be webcast live today, February 14, 2024 at
1:30 PM Pacific Time (PT). The live webcast is open to the public
and will be available on NerdWallet’s investor relations website at
https://investors.nerdwallet.com. Following completion of the call,
a recorded replay of the webcast will be available on NerdWallet’s
investor relations website.
SHAREHOLDER LETTER
A shareholder letter providing additional information and
analysis can be found at NerdWallet’s investor relations website at
https://investors.nerdwallet.com.
UPCOMING INVESTOR EVENT
On March 4, 2024 NerdWallet plans to release a video
presentation for investors sharing more detail on our business and
vision for the company as well as our long-term financial goals.
The video will be available to the public on NerdWallet’s investor
relations website at https://investors.nerdwallet.com.
ABOUT NERDWALLET
NerdWallet (Nasdaq: NRDS) is on a mission to provide clarity for
all of life’s financial decisions. As a personal finance website
and app, NerdWallet provides consumers with trustworthy and
knowledgeable financial information so they can make smart money
moves. From finding the best credit card to buying a house,
NerdWallet is there to help consumers make financial decisions with
confidence. Consumers have free access to our expert content and
comparison shopping marketplaces, plus a data-driven app, which
helps them stay on top of their finances and save time and money,
giving them the freedom to do more. NerdWallet is available for
consumers in the U.S., United Kingdom, Canada and Australia.
“NerdWallet” is a trademark of NerdWallet, Inc. All rights
reserved. Other names and trademarks used herein may be trademarks
of their respective owners.
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
Unaudited
Three Months Ended
December 31,
% Change
Year Ended December
31,
% Change
(in millions, except per share
amounts)
2023
2022
2023
2022
Revenue
$
133.7
$
142.0
(6
%)
$
599.4
$
538.9
11
%
Costs and Expenses:
Cost of revenue
13.8
12.2
14
%
54.0
39.8
36
%
Research and development
20.3
19.4
4
%
80.5
77.6
4
%
Sales and marketing
80.4
87.5
(8
%)
401.5
375.6
7
%
General and administrative
14.6
14.4
2
%
59.8
58.2
3
%
Change in fair value of contingent
consideration related to earnouts
—
0.6
(100
%)
—
6.7
(100
%)
Total costs and expenses
129.1
134.1
(4
%)
595.8
557.9
7
%
Income (Loss) From Operations
4.6
7.9
(42
%)
3.6
(19.0
)
NM
Other income (expense), net:
Interest income
0.9
0.9
0
%
3.6
1.5
135
%
Interest expense
(0.2
)
(1.2
)
(86
%)
(0.8
)
(2.5
)
(69
%)
Other losses, net
—
—
(27
%)
(0.1
)
—
85
%
Total other income (expense), net
0.7
(0.3
)
NM
2.7
(1.0
)
NM
Income (loss) before income taxes
5.3
7.6
(30
%)
6.3
(20.0
)
NM
Income tax provision (benefit)
7.6
(1.3
)
NM
18.1
(9.8
)
NM
Net Income (Loss)
$
(2.3
)
$
8.9
NM
$
(11.8
)
$
(10.2
)
16
%
Net Income (Loss) Per Share
Attributable to Common Stockholders
Basic
$
(0.03
)
$
0.12
NM
$
(0.15
)
$
(0.14
)
7
%
Diluted
$
(0.03
)
$
0.12
NM
$
(0.15
)
$
(0.14
)
7
%
Weighted-Average Shares Used in
Computing Net Income (Loss) Per Share Attributable to Common
Stockholders
Basic
76.5
74.6
76.7
70.6
Diluted
76.5
76.9
76.7
70.6
CONDENSED CONSOLIDATED BALANCE
SHEETS
Unaudited
(in millions)
December 31,
2023
December 31,
2022
Assets
Current assets:
Cash and cash equivalents
$
100.4
$
83.9
Accounts receivable—net
75.5
87.0
Prepaid expenses and other current
assets
22.5
18.3
Total current assets
198.4
189.2
Property, equipment and software—net
52.6
49.1
Goodwill
111.5
111.2
Intangible assets—net
46.9
64.1
Right-of-use assets
7.2
11.3
Other assets
2.0
0.8
Total Assets
$
418.6
$
425.7
Liabilities and Stockholders’
Equity
Current liabilities:
Accounts payable
$
1.7
$
3.6
Accrued expenses and other current
liabilities
35.6
37.9
Contingent consideration—current
—
30.9
Total current liabilities
37.3
72.4
Other liabilities—noncurrent
14.4
11.6
Total liabilities
51.7
84.0
Commitments and contingencies
Stockholders’ equity
366.9
341.7
Total Liabilities and Stockholders’
Equity
$
418.6
$
425.7
CONDENSED CONSOLIDATED STATEMENTS OF
CASH FLOWS
Unaudited
Year Ended December
31,
(in millions)
2023
2022
Operating Activities:
Net loss
$
(11.8
)
$
(10.2
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization
48.2
37.0
Stock-based compensation
38.8
34.4
Change in fair value of contingent
consideration related to earnouts
—
6.7
Deferred taxes
(0.5
)
(12.6
)
Non-cash lease costs
2.8
2.6
Other, net
2.9
1.3
Changes in operating assets and
liabilities, net of business combination:
Accounts receivable
10.7
(18.7
)
Prepaid expenses and other assets
(4.4
)
(0.7
)
Accounts payable
(1.8
)
(5.6
)
Accrued expenses and other current
liabilities
(2.4
)
5.8
Payment of contingent consideration
(14.0
)
(11.5
)
Operating lease liabilities
(3.1
)
(2.4
)
Other liabilities
6.7
(1.1
)
Net cash provided by operating
activities
72.1
25.0
Investing Activities:
Capitalized software development costs
(28.8
)
(27.6
)
Purchase of property and equipment
(0.7
)
(4.6
)
Business combination, net of cash
acquired
—
(68.1
)
Net cash used in investing activities
(29.5
)
(100.3
)
Financing Activities:
Payment of contingent consideration
(16.9
)
(19.0
)
Proceeds from line of credit
7.5
70.0
Payments on line of credit
(7.5
)
(70.0
)
Payment of debt issuance costs
(1.4
)
—
Proceeds from exercise of stock
options
10.2
7.7
Issuance of Class A common stock under
Employee Stock Purchase Plan
3.0
4.5
Tax payments related to net-share
settlements on restricted stock units
(1.1
)
(0.6
)
Payment of offering costs related to
initial public offering
—
(1.0
)
Repurchase of Class A common stock
(20.0
)
—
Net cash used in financing activities
(26.2
)
(8.4
)
Effect of exchange rate changes on cash
and cash equivalents
0.1
(0.2
)
Net increase (decrease) in cash and
cash equivalents
16.5
(83.9
)
Cash and Cash Equivalents:
Beginning of period
83.9
167.8
End of period
$
100.4
$
83.9
NON-GAAP FINANCIAL MEASURES
We use non-GAAP operating income (loss), adjusted EBITDA and
free cash flow in conjunction with GAAP measures as part of our
overall assessment of our performance, including the preparation of
our annual operating budget and quarterly forecasts, to evaluate
the effectiveness of our business strategies, and to communicate
with our Board of Directors concerning our financial
performance.
Non-GAAP operating income (loss): We define non-GAAP
operating income (loss) as income (loss) from operations adjusted
to exclude depreciation and amortization, and further exclude (1)
impairment of right-of-use asset, (2) losses (gains) on disposals
of assets, (3) change in fair value of contingent consideration
related to earnouts, (4) deferred compensation related to earnouts,
and (5) acquisition-related costs. We also reduce income from
operations, or increase loss from operations, for capitalized
internally developed software costs.
Adjusted EBITDA: We define adjusted EBITDA as net income
(loss) from continuing operations adjusted to exclude depreciation
and amortization, interest income (expense), net, provision
(benefit) for income taxes, and further exclude (1) impairment of
right-of-use asset, (2) losses (gains) on disposals of assets, (3)
change in fair value of contingent consideration related to
earnouts, (4) deferred compensation related to earnouts, (5)
stock-based compensation, and (6) acquisition-related costs.
The above items are excluded from our non-GAAP operating income
(loss) and adjusted EBITDA measures because these items are
non-cash in nature, or because the amounts are not driven by core
operating results and renders comparisons with prior periods less
meaningful. We deduct capitalized internally developed software
costs in our non-GAAP operating income (loss) measure to reflect
the cash impact of personnel costs incurred within the time
period.
We believe that non-GAAP operating income (loss) and adjusted
EBITDA provide useful information to investors and others in
understanding and evaluating our operating results and in comparing
operating results across periods. Moreover, non-GAAP operating
income (loss) and adjusted EBITDA are key measurements used by our
management internally to make operating decisions, including those
related to analyzing operating expenses, evaluating performance,
and performing strategic planning and annual budgeting. However,
the use of these non-GAAP measures have certain limitations because
they do not reflect all items of income and expense that affect our
operations. Non-GAAP operating income (loss) and adjusted EBITDA
have limitations as financial measures, should be considered as
supplemental in nature, and are not meant as substitutes for the
related financial information prepared in accordance with GAAP.
These limitations include the following:
- Non-GAAP operating income (loss) and adjusted EBITDA exclude
certain recurring, non-cash charges, such as amortization of
software, depreciation of property and equipment, amortization of
intangible assets, impairment of right-of-use asset, and (losses)
gains on disposals of assets. Although these are non-cash charges,
the assets being depreciated and amortized may have to be replaced
in the future, and non-GAAP operating income (loss) and adjusted
EBITDA do not reflect all cash requirements for such replacements
or for new capital expenditure requirements;
- Non-GAAP operating income (loss) and adjusted EBITDA exclude
acquisition-related costs, including acquisition-related retention
compensation under compensatory retention agreements with certain
key employees, acquisition-related transaction expenses, contingent
consideration fair value adjustments related to earnouts, and
deferred compensation related to earnouts;
- Adjusted EBITDA excludes stock-based compensation, including
for acquisition-related inducement awards, which has been, and will
continue to be for the foreseeable future, a significant recurring
expense in our business and an important part of our compensation
strategy; and
- Adjusted EBITDA does not reflect interest income (expense) and
other gains (losses), net, which include unrealized and realized
gains and losses on foreign currency exchange, as well as certain
nonrecurring gains (losses).
Free cash flow: We define free cash flow as net cash
provided by operating activities less capitalized software
development costs and purchases of property and equipment. Free
cash flow is a key measurement used by our management internally to
evaluate our business performance and overall liquidity. We believe
that free cash flow provides useful information for investors and
others for determining the amount of cash available for investment
in our business, strategic opportunities, repurchasing stock,
strengthening our financial position and other purposes, as well as
evaluating our historical and prospective liquidity. A limitation
of the utility of free cash flow as a measure of financial
performance and liquidity is that free cash flow does not represent
the total increase or decrease in our cash balance for the
period.
In addition, non-GAAP operating income (loss), adjusted EBITDA
and free cash flow as we define them may not be comparable to
similarly titled measures used by other companies. Because of these
limitations, you should consider non-GAAP operating income (loss),
adjusted EBITDA and free cash flow alongside other financial
performance measures, including income (loss) from operations, net
income (loss), cash flows from operating activities, and our other
GAAP results.
We compensate for these limitations by reconciling non-GAAP
operating income (loss) to income (loss) from operations, adjusted
EBITDA to net income (loss) and free cash flow to net cash provided
by operating activities, the most comparable respective GAAP
financial measures, as follows:
Three Months Ended
December 31,
% Change
Year Ended December
31,
% Change
(in millions)
2023
2022
2023
2022
Income (loss) from operations
$
4.6
$
7.9
(42
%)
$
3.6
$
(19.0
)
NM
Depreciation and amortization
12.2
11.4
8
%
48.2
37.0
30
%
Acquisition-related retention
1.3
1.4
(11
%)
5.3
2.8
89
%
Deferred compensation related to
earnouts
—
0.5
(100
%)
—
1.7
(100
%)
Impairment of right-of-use asset
1.4
—
NM
1.4
—
NM
Loss on disposal of assets
0.2
—
NM
0.2
—
NM
Change in fair value of contingent
consideration related to earnouts
—
0.6
(100
%)
—
6.7
(100
%)
Acquisition-related expenses
0.1
0.1
52
%
0.1
3.5
(96
%)
Capitalized internally developed software
costs
(7.2
)
(8.2
)
(11
%)
(32.4
)
(33.7
)
(4
%)
Non-GAAP operating income
(loss)
$
12.6
$
13.7
(9
%)
$
26.4
$
(1.0
)
NM
Operating income (loss) margin
3
%
6
%
1
%
(4
%)
Non-GAAP operating income (loss)
margin1
9
%
10
%
4
%
(0
%)
Net income (loss)
$
(2.3
)
$
8.9
NM
$
(11.8
)
$
(10.2
)
16
%
Depreciation and amortization
12.2
11.4
8
%
48.2
37.0
30
%
Stock-based compensation
9.5
9.1
4
%
38.8
34.4
13
%
Acquisition-related retention
1.3
1.4
(11
%)
5.3
2.8
89
%
Deferred compensation related to
earnouts
—
0.5
(100
%)
—
1.7
(100
%)
Impairment of right-of-use asset
1.4
—
NM
1.4
—
NM
Loss on disposal of assets
0.2
—
NM
0.2
—
NM
Change in fair value of contingent
consideration related to earnouts
—
0.6
(100
%)
—
6.7
(100
%)
Acquisition-related expenses
0.1
0.1
52
%
0.1
3.5
(96
%)
Interest (income) expense, net
(0.7
)
0.3
NM
(2.8
)
1.0
NM
Other losses, net
—
—
NM
0.1
—
85
%
Income tax provision (benefit)
7.6
(1.3
)
NM
18.1
(9.8
)
NM
Adjusted EBITDA
$
29.3
$
31.0
(6
%)
$
97.6
$
67.1
45
%
Stock-based compensation
(9.5
)
(9.1
)
4
%
(38.8
)
(34.4
)
13
%
Capitalized internally developed software
costs
(7.2
)
(8.2
)
(11
%)
(32.4
)
(33.7
)
(4
%)
Non-GAAP operating income
(loss)
$
12.6
$
13.7
(9
%)
$
26.4
$
(1.0
)
NM
Net income (loss) margin
(2
%)
6
%
(2
%)
(2
%)
Adjusted EBITDA margin2
22
%
22
%
16
%
12
%
______________
(1)
Represents non-GAAP operating income
(loss) as a percentage of revenue.
(2)
Represents adjusted EBITDA as a percentage
of revenue.
Year Ended December
31,
% Change
(in millions)
2023
2022
Net cash provided by operating
activities
$
72.1
$
25.0
188
%
Capitalized software development costs
(28.8
)
(27.6
)
5
%
Purchase of property and equipment
(0.7
)
(4.6
)
(85
%)
Free cash flow
$
42.6
$
(7.2
)
NM
FINANCIAL OUTLOOK
We are providing guidance for the first quarter of 2024:
- Revenue is expected in the range of $155-$160 million, (7%)
year-over-year at the midpoint
- GAAP operating income is expected in the range of $0-$3
million
- Non-GAAP operating income is expected in the range of $5-$8
million
- Adjusted EBITDA is expected in the range of $21-$24
million
We expect a 2024 annual GAAP operating income margin in the
range of 3-4.5% and non-GAAP operating income margin in the range
of 6.5-8%. We also expect a 2024 annual adjusted EBITDA margin in
the range of 18-19.5%.
NerdWallet has not provided a quantitative reconciliation of
forecasted GAAP net income (loss) to forecasted adjusted EBITDA
within this communication because the Company is unable, without
making unreasonable efforts, to calculate certain reconciling items
with confidence. These items include, but are not limited to,
income taxes which are directly impacted by unpredictable
fluctuations in the market price of the Company’s capital stock.
These items, which could materially affect the computation of
forward-looking GAAP net income (loss), are inherently uncertain
and depend on various factors, many of which are outside of
NerdWallet’s control.
A reconciliation of forecasted operating income margin to
forecasted non-GAAP operating income margin, and forecasted
operating income to forecasted non-GAAP operating income is as
follows:
Forecasted
Full Year
2024
Forecasted
First Quarter
2024
(in millions)
Operating
Income
Margin1
Operating
Income
GAAP
3-4.5%
$0-$3
Estimated adjustments for:
Depreciation and amortization
7-7.5%
11.5
Acquisition-related retention
1%
1
Capitalized internally developed software
costs
(4.5)-(5%)
(7.5)
Non-GAAP
6.5-8%
$5-$8
______________
(1)
Operating income margin represents
forecasted operating income as a percentage of forecasted revenue.
Non-GAAP operating income margin represents forecasted non-GAAP
operating income as a percentage of forecasted revenue.
For more information regarding the non-GAAP financial measures
discussed in this communication, please see “Non-GAAP Financial
Measures” above.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements about us
and our industry that involve substantial risks and uncertainties.
All statements other than statements of historical facts contained
in this press release are forward-looking statements, including,
but not limited to, the statements in the section titled “Financial
Outlook.” In some cases, you can identify forward-looking
statements because they contain words such as “anticipate,”
“believe,” “contemplate,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “potential,” “predict,”
“project,” “should,” “target,” “will” or “would” or the negative of
these words or other similar terms or expressions. These
forward-looking statements include, but are not limited to,
statements concerning the following:
- the effect of macroeconomic developments, including but not
limited to, inflation, rising interest rates, tightening credit
markets and general macroeconomic uncertainty on our business
results of operations, financial condition and stock price;
- our expectations regarding our future financial and operating
performance, including total revenue, cost of revenue, non-GAAP
operating income (loss), adjusted EBITDA, free cash flow, and
MUUs;
- our ability to grow traffic and engagement on our
platform;
- our expected returns on marketing investments and brand
campaigns;
- our expectations about consumer demand for the products on our
platform;
- our ability to convert users into registered users and improve
repeat user rates;
- our ability to convert consumers into matches with financial
services partners;
- our ability to grow within existing and new verticals;
- our ability to expand geographically;
- our ability to maintain and expand our relationships with our
existing financial services partners and to identify new financial
services partners;
- our ability to build efficient and scalable technical
capabilities to deliver personalized guidance and nudge users;
- our ability to maintain and enhance our brand awareness and
consumer trust;
- our ability to generate high quality, engaging consumer
resources;
- our ability to adapt to the evolving financial interests of
consumers;
- our ability to compete with existing and new competitors in
existing and new market verticals;
- our ability to maintain the security and availability of our
platform;
- our ability to maintain, protect and enhance our intellectual
property;
- our ability to identify, attract and retain highly skilled,
diverse personnel;
- our ability to stay in compliance with laws and regulations
that currently apply or become applicable to our business;
- the sufficiency of our cash, cash equivalents, and investments
to meet our liquidity needs;
- our ability to effectively manage our growth and expand our
infrastructure and maintain our corporate culture;
- our ability to successfully identify, manage, and integrate any
existing and potential acquisitions;
- our ability to achieve expected synergies, accretive value and
other benefits from completed acquisitions; and
- our share repurchase plan, including expectations regarding the
amount, timing and manner of repurchases made under the plan.
You should not rely on forward-looking statements as predictions
or guarantees of future events. We have based the forward-looking
statements contained in this press release primarily on our current
expectations and projections about future events and trends that we
believe may affect our business, financial condition and operating
results. These forward-looking statements are subject to risks,
uncertainties and other factors that may cause actual results or
outcomes to be materially different from any future results
expressed or implied by these forward-looking statements, including
those factors described in filings we make with the SEC from time
to time.
The forward-looking statements made in this press release speak
only as of the date hereof. We undertake no obligation to update
any forward-looking statements made in this press release to
reflect events or circumstances after the date of this press
release or to reflect new information or the occurrence of
unanticipated events, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240214095574/en/
Investor Relations: Caitlin MacNamee ir@nerdwallet.com
Media Relations: Kate Bondurant press@nerdwallet.com
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