NerdWallet, Inc.
nerdwallet.comWhat Do They Do?
Provides consumers and small and mid-sized businesses with financial guidance and digital marketplaces to compare insurance, credit cards and loans.
10-K for FY2025, filed Feb 25, 2026NerdWallet, Inc. (NerdWallet, the Company, we, our, or us) provides consumers and small and mid-sized businesses (SMBs) with trusted…View ↗
Our platform enables users to compare financial products, access educational resources, receive personalized insights, and connect with…View ↗
Editorial and Content Publishing—Consumer and SMB financial education, tools, calculators, guides, and research published under the…View ↗
How Do They Make Money?
Financial services partners pay per click or lead, and for some products after an approved action such as a card being issued or a loan being funded.
10-K for FY2025, filed Feb 25, 2026Revenue Recognition—The Company generates substantially all its revenue through fees paid by its financial services partners in the form of…View ↗
For revenue generated from revenue per action or revenue per funded loan arrangements in which fees are earned from financial services…View ↗
For revenue generated from revenue per lead or revenue per click in which fees are earned from customers when a consumer or SMB clicks on a…View ↗
-
10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗
$836.6M
-
10-K for FY2025, filed Feb 25, 2026
$836.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Insurance
Usage-based
10-K for FY2025, filed Feb 25, 2026 |
34%
FY2022: 6.4%
|
Insurance, FY2025
$280.8M Sources
|
Usage-based |
|
Credit cards
Usage-based
10-K for FY2025, filed Feb 25, 2026 |
16%
FY2022: 39%
|
Credit cards, FY2025
$133.4M Sources
|
Usage-based |
|
SMB products
Usage-based
10-K for FY2025, filed Feb 25, 2026 |
12%
FY2022: 17%
|
SMB products, FY2025
$100M Sources
|
Usage-based |
|
Loans
Usage-based
10-K for FY2025, filed Feb 25, 2026 |
16%
FY2022: 20%
|
Loans, FY2025
$133.4M Sources
|
Usage-based |
|
Emerging verticals
Usage-based
10-K for FY2025, filed Feb 25, 2026 |
23%
FY2022: 17%
|
Emerging verticals, FY2025
$189M Sources
|
Usage-based |
Who Are Their Customers?
Financial services providers—including banks, lenders, card issuers and insurers—pay fees to reach consumers and SMBs through leads, matches and referrals. Consumers and SMBs use the platform for guidance and product comparisons.
10-K for FY2025, filed Feb 25, 2026The Company had two customers which accounted for 16% and 11% of total accounts receivable as of December 31, 2025, and two customers which…View ↗
Our platform enables users to compare financial products, access educational resources, receive personalized insights, and connect with…View ↗
Partner EcosystemView ↗
10-K for FY2025, filed Feb 25, 2026
The Company had two customers which accounted for 16% and 11% of total accounts receivable as of December 31, 2025, and two customers which…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 6 cents of every revenue dollar as net income in FY2025 and turned 16 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$65.2MView ↗
10-K for FY2025, filed Feb 25, 2026
$48.7MView ↗
10-K for FY2025, filed Feb 25, 2026
$130.3MView ↗
How Are They Changing?
Growing. Revenue grew 2.2x in 4 years, from $379.6M in FY2021 to $836.6M in FY2025, about 22% a year.
Services beyond marketplaces
The earlier report describes guidance, tools and product marketplaces; the latest adds mortgage brokering, insurance agency and wealth-management services through subsidiaries.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 25, 2026We deliver guidance to consumers through educational content, tools and calculators, product marketplaces and the NerdWallet app. Our…View ↗
Next Door Lending. In October 2024, we acquired Next Door Lending LLC (NDL), a mortgage broker that offers a selection of loan products for…View ↗
We conduct mortgage brokering activities through NDL, a wholly-owned subsidiary licensed under applicable state laws. NDL provides consumer…View ↗
Wealth Management (NerdWallet Wealth Partners, LLC)View ↗
We provide insurance agency services where producers assist consumers in obtaining and comparing quotes and connecting with licensed…View ↗
Who Do They Compete With?
Competes with The New York Times, U.S. News & World Report, Google, Bankrate, Credit Karma, LendingTree, and Zillow
10-K for FY2025, filed Feb 25, 2026Financial advisors, agents, and brokers who provide guidance and expertise as part of their offerings; Traditional media such as The New…View ↗
Loading...
