NRDS · Nerdwallet, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $222.20M | - | $215.10M | $186.90M | $209.20M | - | $191.30M | $150.60M | $161.90M | - |
| Cost of Revenue | $13.60M | - | $15.30M | $16.60M | $18.20M | - | $17.70M | $14.90M | $14.20M | - |
| Gross Profit | $208.60M | - | $199.80M | $170.30M | $191.00M | - | $173.60M | $135.70M | $147.70M | - |
| R&D | $16.80M | - | $15.70M | $17.90M | $16.80M | - | $23.00M | $22.70M | $20.70M | - |
| SG&A | $15.50M | - | $14.40M | $13.70M | $13.80M | - | $15.90M | $16.50M | $15.40M | - |
| Total Operating Expenses | $195.00M | - | $180.70M | $176.20M | $208.50M | - | $184.70M | $160.20M | $158.20M | - |
| D&A | $9.70M | - | - | $12.20M | $12.60M | - | - | - | $11.90M | - |
| Operating Income | $27.20M | - | $34.40M | $10.70M | $700.0K | - | $6.60M | ($9.60M) | $3.70M | - |
| Interest Expense | $200.0K | - | $200.0K | $200.0K | $200.0K | - | $200.0K | $200.0K | $200.0K | - |
| Income Tax | $7.60M | - | $9.20M | $3.30M | $1.10M | - | $7.70M | $1.10M | $3.70M | - |
| Net Income | $20.40M | - | $26.30M | $8.20M | $200.0K | - | $100.0K | ($9.40M) | $1.10M | - |
| EPS - Basic | $0.30 | - | $0.35 | $0.11 | $0.00 | - | $0.00 | ($0.12) | $0.01 | - |
| EPS - Diluted | $0.29 | - | $0.34 | $0.11 | $0.00 | - | $0.00 | ($0.12) | $0.01 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $56.30M | $98.30M | $120.60M | $105.30M | $92.20M | $66.30M | $71.70M | $113.80M | $110.90M | $100.40M |
| Accounts Receivable | $113.10M | $111.00M | $121.90M | $97.80M | $120.30M | $102.20M | $102.80M | $93.70M | $93.90M | $75.50M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $6.60M | $5.40M | $13.60M | $11.80M | $24.30M | $8.90M | $12.40M | $10.10M | $15.30M | $1.70M |
| Current Assets | $206.40M | $244.70M | $275.10M | $238.70M | $241.90M | $196.70M | $193.70M | $230.00M | $224.20M | $198.40M |
| Total Assets | $432.00M | $461.10M | $492.80M | $476.00M | $475.00M | $437.60M | $402.40M | $446.20M | $446.10M | $418.60M |
| Current Liabilities | $80.30M | $70.90M | $74.40M | $69.30M | $90.40M | $60.10M | $66.50M | $53.90M | $53.80M | $37.30M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $95.80M | $86.60M | $90.40M | $86.00M | $103.40M | $73.40M | $80.00M | $66.80M | $67.40M | $51.70M |
| Stockholders' Equity | $336.20M | $374.50M | $402.40M | $390.00M | $371.60M | $364.20M | $322.40M | $379.40M | $378.70M | $366.90M |
| Retained Earnings | ($233.90M) | ($188.10M) | ($151.00M) | ($158.10M) | ($166.30M) | ($166.50M) | ($196.90M) | ($125.90M) | ($115.40M) | ($116.50M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $35.70M | - | - | - | $26.70M | - | - | - | $22.70M | - |
| Investing Cash Flow | ($19.70M) | - | - | - | ($4.60M) | - | - | - | ($13.50M) | - |
| Financing Cash Flow | ($57.90M) | - | - | - | $3.80M | - | - | - | $1.30M | - |
| CapEx | $400.0K | - | - | - | $200.0K | - | - | - | $0 | - |
| Free Cash Flow | $35.30M | - | - | - | $26.50M | - | - | - | $22.70M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 93.9% | - | 92.9% | 91.1% | 91.3% | - | 90.7% | 90.1% | 91.2% | - |
| Operating margin | 12.2% | - | 16.0% | 5.7% | 0.3% | - | 3.5% | -6.4% | 2.3% | - |
| EBITDA margin | 16.6% | - | - | 12.3% | 6.4% | - | - | - | 9.6% | - |
| Net margin | 9.2% | - | 12.2% | 4.4% | 0.1% | - | 0.1% | -6.2% | 0.7% | - |
| Free cash flow margin | 15.9% | - | - | - | 12.7% | - | - | - | 14.0% | - |
| FCF / Net income | 1.73 | - | - | - | 132.50 | - | - | - | 20.64 | - |
| R&D / Revenue | 7.6% | - | 7.3% | 9.6% | 8.0% | - | 12.0% | 15.1% | 12.8% | - |
| SG&A / Revenue | 7.0% | - | 6.7% | 7.3% | 6.6% | - | 8.3% | 11.0% | 9.5% | - |
| Effective tax rate | 27.1% | - | 25.9% | 28.7% | 84.6% | - | 98.7% | - | 77.1% | - |
| Return on assets | 4.7% | - | 5.3% | 1.7% | 0.0% | - | 0.0% | -2.1% | 0.2% | - |
| Return on equity | 6.1% | - | 6.5% | 2.1% | 0.1% | - | 0.0% | -2.5% | 0.3% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.57 | 3.45 | 3.70 | 3.44 | 2.68 | 3.27 | 2.91 | 4.27 | 4.17 | 5.32 |
| Quick ratio | 2.57 | 3.45 | 3.70 | 3.44 | 2.68 | 3.27 | 2.91 | 4.27 | 4.17 | 5.32 |
| Cash ratio | 0.70 | 1.39 | 1.62 | 1.52 | 1.02 | 1.10 | 1.08 | 2.11 | 2.06 | 2.69 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 136.0x | - | 172.0x | 53.5x | 3.5x | - | 33.0x | -48.0x | 18.5x | - |
| Equity multiplier | 1.28 | 1.23 | 1.22 | 1.22 | 1.28 | 1.20 | 1.25 | 1.18 | 1.18 | 1.14 |
| Liabilities / Assets | 0.22 | 0.19 | 0.18 | 0.18 | 0.22 | 0.17 | 0.20 | 0.15 | 0.15 | 0.12 |
| Efficiency | ||||||||||
| Asset turnover | 0.51 | - | 0.44 | 0.39 | 0.44 | - | 0.48 | 0.34 | 0.36 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 186d | - | 207d | 191d | 210d | - | 196d | 227d | 212d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 177d | - | 324d | 259d | 487d | - | 256d | 247d | 393d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 35.8x | - | 31.6x | 99.7x | - | - | - | - | 1470.0x | - |
| P / B | 2.1x | - | 2.1x | 2.2x | 1.9x | - | 3.1x | 3.0x | 3.1x | - |
| P / S | 3.2x | - | 3.8x | 4.5x | 3.3x | - | 5.3x | 7.6x | 7.3x | - |
| EV / EBITDA | 18.0x | - | - | 32.1x | 44.9x | - | - | - | 68.7x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 6.2% | - | 12.4% | 24.1% | 29.2% | - | 25.2% | 5.1% | -4.5% | - |
| Revenue CAGR (3y) | 9.4% | - | 14.7% | 26.8% | 32.5% | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 9.2% | - | 15.1% | 25.5% | 29.3% | - | 24.4% | 4.2% | -5.2% | - |
| Operating income growth (YoY) | 3785.7% | - | 421.2% | - | -81.1% | - | 65.0% | -128.6% | - | - |
| Net income growth (YoY) | 10100.0% | - | 26200.0% | - | -81.8% | - | - | 12.1% | -35.3% | - |
| EPS growth (YoY) | - | - | - | - | - | - | - | 14.3% | -50.0% | - |
| EPS CAGR (3y) | 143.8% | - | 224.0% | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 33.2% | - | - | - | 16.7% | - | - | - | 41.0% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -9.5% | 2.8% | 24.8% | 2.8% | -1.9% | -0.7% | -11.5% | 3.9% | 4.7% | 7.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$836.60M totalReportable Segment$836.60M · 100.0%
Product / service
$836.60M totalInsurance$280.80M · 33.6%
Emerging Verticals$189.00M · 22.6%
Credit Card$133.40M · 15.9%
Loans$133.40M · 15.9%
SMBProducts$100.00M · 12.0%
Peer comparison
Same SIC group: Services-Computer Processing & Data Preparation
Comparing NERDWALLET against the 5 most active filers in the same SIC group.