Nextdoor Announces Leadership Transition and Reports Preliminary Q4 2023 Financial Results
23 Fevereiro 2024 - 8:00AM
Business Wire
- Nirav Tolia to be appointed Chief Executive Officer, President
and Chairperson of the Board
- Sarah Friar to step down as Chief Executive Officer, President
and Chairperson of the Board
- Announces Q4 WAU of 41.8M and Preliminary Unaudited Q4 Revenue
of $56M
- Board approves a $150M increase to existing share repurchase
authorization
- Company will report full Q4 2023 results as planned on Tuesday,
February 27, 2024
Today, Nextdoor (NYSE: KIND) announced that Nirav Tolia,
co-founder of Nextdoor, will return to the company as Chief
Executive Officer, President and Chairperson of the Board. Sarah
Friar will step down as Chief Executive Officer, President and
Chairperson of the Board, with an orderly transition in Q2
2024.
“Our Q4 results demonstrate renewed strength across all our key
metrics. While there is never a perfect time for a transition, I
feel the time is now right to put the company back in Nirav’s
hands,” said Sarah Friar. “Since I joined in 2018, Nextdoor has
nearly tripled to more than 88M Verified Neighbors, now reaching
over 330,000 neighborhoods around the world. The people at Nextdoor
have made the past five years such a special time in my life, and
it is because of them that I am more optimistic than ever about our
mission and momentum.”
“I’m delighted to return to Nextdoor, the company I founded to
bring neighbors all over the world closer together,” said Nirav
Tolia. “I’m immensely grateful to Sarah for her incredible
leadership over the past five years, during which time Nextdoor
became a public company, built a strong balance sheet, and scaled
the business globally. I have loved working with Sarah and look
forward to working together in the coming weeks as we transition
seamlessly to this next phase for Nextdoor.”
The Company also provided the following preliminary unaudited
fourth quarter 2023 financial results and supplemental details:
- WAU of 41.8M, an increase of 5% year-over-year and 3%
quarter-over-quarter;
- Revenue of $56 million, exceeding its previously provided
guidance range of $50 million to $52 million; and
- Cash, cash equivalents, and marketable securities of $531
million as of December 31, 2023.
Additionally, Nextdoor’s Board of Directors has authorized a
$150M increase to the Company’s existing share repurchase
authorization (for a total authorization of $250M; approximately
$77M of which has been executed to date) and extension of the
program until March 31, 2026.
About Nextdoor
Nextdoor (NYSE: KIND) is the neighborhood network. Neighbors,
businesses of all sizes, and public agencies in more than 330,000
neighborhoods across 11 countries turn to Nextdoor to connect to
the neighborhoods that matter to them so that they can thrive. As a
purpose-driven company, Nextdoor leverages innovative technology to
cultivate a kinder world where everyone has a neighborhood they can
rely on — both online and in the real world. Download the app or
join the neighborhood at nextdoor.com. For more information and
assets, visit nextdoor.com/newsroom.
Safe Harbor Statement
This press release includes forward-looking statements, which
are statements other than statements of historical facts and
statements in the future tense. These statements include, but are
not limited to, statements regarding the management transition plan
and our preliminary financial and operating results for the fourth
quarter of 2023.
Forward-looking statements are based upon various estimates and
assumptions, as well as information known to us as of the date of
this press release, and are subject to risks and uncertainties.
Accordingly, actual results could differ materially due to a
variety of factors, including: our ability to scale our business
and monetization efforts; our ability to expand business operations
abroad; our limited operating history; risks associated with
managing our growth; our ability to achieve and maintain
profitability in the future; the effects of the highly competitive
market in which we operate; the impact of macroeconomic conditions
on our business; our ability to attract new and retain existing
customers and users, or renew and expand our relationships with
them; our ability to anticipate and satisfy customer preferences;
market acceptance of our platform; our ability to successfully
develop and timely introduce new products and services; our ability
to achieve our objectives of strategic and operational initiatives;
cybersecurity risks to our various systems and software; the impact
of privacy and data security laws; and other general market,
political, economic, and business conditions.
Additional risks and uncertainties that could affect our
financial results and business are more fully described in our
Quarterly Report on Form 10-Q for the nine months ended September
30, 2023, filed with the Securities and Exchange Commission (“SEC”)
on November 7, 2023, and our Annual Report on Form 10-K for the
year ended December 31, 2023, expected to be filed on or about
February 27, 2024, and our other SEC filings, which are available
on the Investor Relations page of our website at
investors.nextdoor.com and on the SEC’s website at www.sec.gov.
All forward-looking statements contained herein are based on
information available to us as of the date hereof and you should
not rely upon forward-looking statements as predictions of future
events. The events and circumstances reflected in the
forward-looking statements may not be achieved or occur. Although
we believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
performance, or achievements. We undertake no obligation to update
any of these forward-looking statements for any reason after the
date of this press release or to conform these statements to actual
results or revised expectations, except as required by law. Undue
reliance should not be placed on the forward-looking statements in
this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240223945431/en/
Nextdoor Media Relations: Antonia Gray press@nextdoor.com
Nextdoor Investor Relations: John T. Williams
ir@nextdoor.com
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