$NRDS
NerdWallet Inc

2022 Q1 Form 10-Q Financial Statement

#000162527822000054 Filed on May 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $129.1M $90.00M
YoY Change 43.44%
Cost Of Revenue $7.700M $6.500M
YoY Change 18.46%
Gross Profit $121.4M $83.50M
YoY Change 45.39%
Gross Profit Margin 94.04% 92.78%
Selling, General & Admin $109.2M $77.50M
YoY Change 40.9%
% of Gross Profit 89.95% 92.81%
Research & Development $17.40M $12.20M
YoY Change 42.62%
% of Gross Profit 14.33% 14.61%
Depreciation & Amortization $7.200M $6.200M
YoY Change 16.13%
% of Gross Profit 5.93% 7.43%
Operating Expenses $126.6M $89.70M
YoY Change 41.14%
Operating Profit -$9.100M -$13.20M
YoY Change -31.06%
Interest Expense $200.0K $300.0K
YoY Change -33.33%
% of Operating Profit
Other Income/Expense, Net -$200.0K -$400.0K
YoY Change -50.0%
Pretax Income -$9.300M -$13.60M
YoY Change -31.62%
Income Tax $1.200M -$700.0K
% Of Pretax Income
Net Earnings -$10.50M -$12.90M
YoY Change -18.6%
Net Earnings / Revenue -8.13% -14.33%
Basic Earnings Per Share -$0.16 -$0.27
Diluted Earnings Per Share -$0.16 -$0.27
COMMON SHARES
Basic Shares Outstanding 66.90M shares 48.50M shares
Diluted Shares Outstanding 66.90M shares 48.50M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $161.6M
YoY Change
Cash & Equivalents $161.6M $60.60M
Short-Term Investments
Other Short-Term Assets $19.20M
YoY Change
Inventory
Prepaid Expenses
Receivables $72.50M
Other Receivables $0.00
Total Short-Term Assets $253.3M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $39.60M
YoY Change
Goodwill $43.60M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $800.0K
YoY Change
Total Long-Term Assets $122.8M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $253.3M
Total Long-Term Assets $122.8M
Total Assets $376.1M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.200M
YoY Change
Accrued Expenses $41.50M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $77.20M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $14.30M
YoY Change
Total Long-Term Liabilities $14.30M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $77.20M
Total Long-Term Liabilities $14.30M
Total Liabilities $120.7M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$85.00M
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $255.4M $61.50M
YoY Change
Total Liabilities & Shareholders Equity $376.1M
YoY Change

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$10.50M -$12.90M
YoY Change -18.6%
Depreciation, Depletion And Amortization $7.200M $6.200M
YoY Change 16.13%
Cash From Operating Activities $1.600M -$3.600M
YoY Change -144.44%
INVESTING ACTIVITIES
Capital Expenditures $1.900M $200.0K
YoY Change 850.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$8.500M -$5.400M
YoY Change 57.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $700.0K -$13.80M
YoY Change -105.07%
NET CHANGE
Cash From Operating Activities $1.600M -$3.600M
Cash From Investing Activities -$8.500M -$5.400M
Cash From Financing Activities $700.0K -$13.80M
Net Change In Cash -$6.200M -$22.80M
YoY Change -72.81%
FREE CASH FLOW
Cash From Operating Activities $1.600M -$3.600M
Capital Expenditures $1.900M $200.0K
Free Cash Flow -$300.0K -$3.800M
YoY Change -92.11%

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2100000 USD
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
200000 USD
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
700000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3100000 USD
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2021Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
400000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
700000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-13800000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6200000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-22800000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
167800000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
83400000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
161600000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
60600000 USD
CY2022Q1 nrds Capitalized Software Development Costs Incurred But Not Yet Paid
CapitalizedSoftwareDevelopmentCostsIncurredButNotYetPaid
600000 USD
CY2021Q1 nrds Capitalized Software Development Costs Incurred But Not Yet Paid
CapitalizedSoftwareDevelopmentCostsIncurredButNotYetPaid
200000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
800000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
500000 USD
CY2022Q1 nrds Stock Issuance Costs Incurred But Not Yet Paid
StockIssuanceCostsIncurredButNotYetPaid
0 USD
CY2021Q1 nrds Stock Issuance Costs Incurred But Not Yet Paid
StockIssuanceCostsIncurredButNotYetPaid
200000 USD
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
200000 USD
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
100000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
1300000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
400000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2300000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
129100000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90000000.0 USD
CY2022Q1 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
4700000 USD
CY2021Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
3000000 USD
CY2022Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
35200000 USD
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
32100000 USD
CY2022Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
8000000 USD
CY2021Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
5800000 USD
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
4900000 USD
CY2021Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3800000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2900000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2400000 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11900000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12700000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6500000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2300000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1400000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
500000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-10500000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-12900000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12900000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10500000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66900000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66900000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48500000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48500000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.27

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