$NRDS
NerdWallet Inc

2023 Q3 Form 10-Q Financial Statement

#000162527823000118 Filed on October 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q3
Revenue $152.8M
YoY Change 7.15%
Cost Of Revenue $13.30M
YoY Change 13.68%
Gross Profit $139.5M
YoY Change 6.57%
Gross Profit Margin 91.3%
Selling, General & Admin $114.8M
YoY Change -3.2%
% of Gross Profit 82.29%
Research & Development $20.70M
YoY Change 0.0%
% of Gross Profit 14.84%
Depreciation & Amortization $12.10M
YoY Change 12.04%
% of Gross Profit 8.67%
Operating Expenses $135.5M
YoY Change -2.73%
Operating Profit $4.000M
YoY Change -145.45%
Interest Expense $200.0K
YoY Change -77.78%
% of Operating Profit 5.0%
Other Income/Expense, Net $700.0K
YoY Change -275.0%
Pretax Income $4.700M
YoY Change -151.09%
Income Tax $5.200M
% Of Pretax Income 110.64%
Net Earnings -$500.0K
YoY Change -171.43%
Net Earnings / Revenue -0.33%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01
COMMON SHARES
Basic Shares Outstanding 77.50M shares
Diluted Shares Outstanding 77.50M shares

Balance Sheet

Concept 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $86.60M
YoY Change -37.43%
Cash & Equivalents $86.60M
Short-Term Investments
Other Short-Term Assets $23.80M
YoY Change 13.33%
Inventory
Prepaid Expenses
Receivables $84.40M
Other Receivables $0.00
Total Short-Term Assets $194.8M
YoY Change -21.01%
LONG-TERM ASSETS
Property, Plant & Equipment $52.80M
YoY Change 12.1%
Goodwill $111.3M
YoY Change 0.54%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.200M
YoY Change 214.29%
Total Long-Term Assets $226.0M
YoY Change -5.32%
TOTAL ASSETS
Total Short-Term Assets $194.8M
Total Long-Term Assets $226.0M
Total Assets $420.8M
YoY Change -13.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.10M
YoY Change 125.86%
Accrued Expenses $31.90M
YoY Change -34.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.00M
YoY Change -46.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $11.60M
YoY Change 7.41%
Total Long-Term Liabilities $11.60M
YoY Change -85.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.00M
Total Long-Term Liabilities $11.60M
Total Liabilities $56.60M
YoY Change -66.05%
SHAREHOLDERS EQUITY
Retained Earnings -$106.3M
YoY Change 13.57%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $364.2M
YoY Change
Total Liabilities & Shareholders Equity $420.8M
YoY Change -13.29%

Cashflow Statement

Concept 2023 Q3
OPERATING ACTIVITIES
Net Income -$500.0K
YoY Change -171.43%
Depreciation, Depletion And Amortization $12.10M
YoY Change 12.04%
Cash From Operating Activities $36.10M
YoY Change 87.05%
INVESTING ACTIVITIES
Capital Expenditures $4.800M
YoY Change -153.93%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$4.800M
YoY Change -93.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.80M
YoY Change -116.43%
NET CHANGE
Cash From Operating Activities 36.10M
Cash From Investing Activities -4.800M
Cash From Financing Activities -11.80M
Net Change In Cash 19.50M
YoY Change 53.54%
FREE CASH FLOW
Cash From Operating Activities $36.10M
Capital Expenditures $4.800M
Free Cash Flow $31.30M
YoY Change 10.99%

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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
138400000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Concentrations of Credit Risk—Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. While the Company deposits cash and cash equivalents with high credit quality financial institutions, including First Citizens Bank & Trust Company (through its Silicon Valley Bank division), HSBC and JPMorgan Chase Bank, N.A., to lessen the Company’s exposure, such cash deposits may exceed federally insured limits at these financial institutions.
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
152800000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
142600000 usd
CY2023Q3 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
6900000 usd
CY2022Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
5800000 usd
CY2023Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
48700000 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
43900000 usd
CY2023Q3 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
7900000 usd
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
25700000 usd
CY2022Q3 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
8900000 usd
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
25800000 usd
CY2023Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
7300000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
20900000 usd
CY2022Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
5700000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
16000000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3300000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3100000 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7100000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9600000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9400000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25300000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1200000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1400000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4300000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4700000 usd
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-500000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-500000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
700000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
700000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9500000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9500000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19100000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-19100000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77500000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69200000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77500000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75000000.0 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69200000 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

Files In Submission

Name View Source Status
nrds-20230930_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
nrds-20230930_def.xml Edgar Link unprocessable
0001625278-23-000118-index-headers.html Edgar Link pending
0001625278-23-000118-index.html Edgar Link pending
0001625278-23-000118.txt Edgar Link pending
0001625278-23-000118-xbrl.zip Edgar Link pending
exhibit311-302certificatio.htm Edgar Link pending
exhibit312-302certificatio.htm Edgar Link pending
exhibit321-404certificatio.htm Edgar Link pending
exhibit322-404certificatio.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
nrds-20230930.htm Edgar Link pending
nrds-20230930.xsd Edgar Link pending
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nrds-20230930_lab.xml Edgar Link unprocessable
nrds-20230930_pre.xml Edgar Link unprocessable
nrds-20230930_htm.xml Edgar Link completed
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