NRDSMEDIUM SIGNALFINANCIAL10-K

NRDS demonstrated strong revenue growth of 21.7% to $836.6M while substantially improving operational efficiency and cash generation.

The company's ability to grow revenue while reducing R&D expenses by 19.2% and dramatically cutting interest expense suggests improved operational discipline and capital allocation. The meaningful improvement in operating cash flow generation indicates the business model is becoming more cash-efficient as it scales.

Comparing 2026-02-25 vs 2025-02-19View on EDGAR →
FINANCIAL ANALYSIS

NRDS delivered solid financial performance with revenue growing 21.7% to $836.6M and net income substantially higher at $48.7M. Operating cash flow generation improved dramatically to $131.6M while the company maintained steady share buyback activity of $70.2M and strengthened its balance sheet with cash increasing to $98.3M. The combination of revenue growth, expense discipline (particularly in R&D), and enhanced cash generation signals improving operational efficiency and financial health.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+83.3%
$71.8M→$131.6M

Operating cash flow surged 83.3% — exceptional cash generation, highest quality earnings signal.

Interest Expense
P&L
-68%
$2.5M→$800K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Net Income
P&L
+60.2%
$30.4M→$48.7M

Net income grew 60.2% — bottom-line growth signals improving overall business health.

Cash & Equivalents
Balance Sheet
+48.3%
$66.3M→$98.3M

Cash position surged 48.3% — strong cash generation or capital raise providing significant financial cushion.

Current Assets
Balance Sheet
+24.4%
$196.7M→$244.7M

Current assets grew 24.4% — improving short-term liquidity or inventory/receivables build.

Revenue
P&L
+21.7%
$687.6M→$836.6M

Revenue growing 21.7% — solid top-line momentum, watch margins for quality of growth.

R&D Expense
P&L
-19.2%
$82.5M→$66.7M

R&D spending cut 19.2% — could signal cost discipline or concerning reduction in innovation investment.

Total Liabilities
Balance Sheet
+18%
$73.4M→$86.6M

Liabilities increased 18% — monitor debt-to-equity ratio and interest coverage.

Current Liabilities
Balance Sheet
+18%
$60.1M→$70.9M

Current liabilities rose 18% — increased short-term obligations, watch current ratio.

Share Buybacks
Cash Flow
-12.4%
$80.1M→$70.2M

Buyback activity reduced 12.4% — capital being redeployed elsewhere or cash conservation underway.

LANGUAGE CHANGES
NEW — 2026-02-25
PRIOR — 2025-02-19
ADDED
The registrant had outstanding 35,100,146 shares of Class A common stock and 31,685,652 shares of Class B common stock as of February 23, 2026.
Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 7A.
These forward-looking statements are not guarantees of future performance and should not be relied upon as predictions of future events.
These statements also do not reflect potential impacts from future acquisitions, mergers, dispositions, joint ventures, or investments.
(NerdWallet, the Company, we, our, or us) provides consumers and small and mid-sized businesses (SMBs) with trusted guidance across a broad range of finance topics through a digital platform that integrates independent editorial content, comparison tools, data-driven product marketplaces, and access to regulated financial services offered through our subsidiaries.
Our platform enables users to compare financial products, access educational resources, receive personalized insights, and connect with third-party providers across credit cards, banking, insurance, lending, investing, wealth management, and other financial categories.
We generate revenue primarily through referral fees, lead generation, and partner-based monetization, as well as through revenue derived from brokering and advisory services.
Our business model is designed to be partner-neutral and to support transparent consumer and SMB choice by offering side-by-side comparisons and insightful information supported by editorial standards.
NerdWallet operates in the United States, Canada, and the United Kingdom.
We are a remote-first company with our primary corporate offices located in San Mateo, California and Scottsdale, Arizona, and we maintain hub offices in several major metropolitan areas across the United States.
REMOVED
The registrant had outstanding 42,422,181 shares of Class A common stock and 31,685,652 shares of Class B common stock as of February 14, 2025.
Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 7A.
These forward-looking statements should not be relied upon as predictions or guarantees of future events.
Our industry is highly competitive and rapidly evolving, and new risks and uncertainties may arise that we cannot predict.
These statements also do not account for potential impacts from future acquisitions, mergers, dispositions, joint ventures, or investments.
Overview NerdWallet provides trustworthy financial guidance to consumers and small and mid-sized businesses (SMBs).
At NerdWallet, we empower consumers both individuals and SMBs to make smarter financial decisions with confidence via our digital platform.
Technology has changed the way consumers manage their financial lives, making them more comfortable with comparing and shopping for financial products online.
This change has accelerated with the dramatic growth in companies offering innovative financial products.
At NerdWallet, we are leveraging this transformation to democratize access to trustworthy financial guidance ultimately helping to improve the financial well-being of consumers and the financial services industry as a whole.
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