Revenue Growth
NerdWallet earned $187 million in revenue, which was up 24% year-over-year.
Non-GAAP Operating Income
The company delivered $21 million in non-GAAP operating income, above the guidance range of $14 million to $18 million, representing a significant year-over-year improvement.
Insurance Revenue Growth
Insurance delivered $55 million in revenue, growing at 86% year-over-year.
Efficiency Improvements
Operational efficiencies came from lower employee costs following a restructuring and decreased brand spend.
Strong Cash Flow
Generated $71 million of adjusted free cash flow over the last four quarters and ended Q2 with a cash balance of $105 million.
Potential for New Growth Channels
Early signs that LLMs (large language models) are becoming a new organic channel with higher intent to transact, suggesting potential future growth.