QuinStreet Inc Reports Financial Results for Fiscal Fourth Quarter and Fiscal Year Ended June 30 20
Intellectia.AI Updated: 1970-01-01
QuinStreet, Inc. Reports Financial Results for Fiscal Fourth Quarter and Fiscal Year Ended June 30, 2024
QuinStreet, Inc. (NASDAQ: QNST) has reported its financial results for the fiscal fourth quarter and fiscal year ended June 30, 2024.
Key Financial Metrics
| Metric | Fiscal Q4 2024 | Fiscal Q4 2023 | % Change YoY | Consensus Estimate | Fiscal Year 2024 | Fiscal Year 2023 | % Change YoY | Consensus Estimate |
|---|---|---|---|---|---|---|---|---|
| Revenue | $198.3M | $130.5M | +52% | $186.38M | $613.5M | $578.77M | +6% | $601.58M |
| GAAP Net Loss | $(2.2)M | $(5.6)M | -60.71% | N/A | $(31.3)M | $(29.7)M | +5.39% | N/A |
| Adjusted Net Income | $6.5M | $1.08M | +501.86% | N/A | $6.3M | $5.1M | +23.53% | N/A |
| GAAP EPS | $(0.04) | $(0.13) | -69.23% | $0.1 | $(0.57) | $(0.55) | +3.64% | $0.1 |
| Adjusted EPS | $0.11 | $0.01 | +1000% | $0.1 | $0.11 | $0.09 | 22.22% | $0.1 |
Professional Interpretation: QuinStreet demonstrated robust financial performance in the fiscal fourth quarter, highlighted by a 52% year-over-year increase in revenue, surpassing the Wall Street consensus estimate. The adjusted net income and EPS also substantially exceeded expectations, reflecting significantly improved profitability and operating leverage.
Revenue Performance by Segment
| Segment | Fiscal Q4 2024 | Fiscal Q4 2023 | % Change YoY |
|---|---|---|---|
| Auto Insurance | $107.5M | $35.8M | +200% |
| Non-Insurance Financial Services | $44.8M | $39.6M | +13% |
| Home Services | $38.1M | $34.0M | +12% |
Professional Interpretation: QuinStreet's Auto Insurance segment experienced an exceptional 200% year-over-year revenue increase, which significantly contributed to the company's overall revenue growth. Both Non-Insurance Financial Services and Home Services segments also witnessed double-digit growth, reaffirming strong performance across all major business areas.
Comments from Executives
CEO Doug Valenti commented, "The strong re-ramp of Auto Insurance revenue continued in fiscal Q4, and our outlook going forward for that important client vertical remains strongly and confidently positive. The demand from carrier clients is steeply up and to the right, and is broad-based. Our focus in Auto Insurance has shifted to optimizing media supply to best meet the extraordinary demand."
Forward Guidance
The company forecasted strong momentum for FY2025, expecting revenue in the range of $800 to $850 million, representing a year-over-year growth of 34% at the midpoint. Adjusted EBITDA for fiscal 2025 is projected to be between $50 to $60 million, reflecting a significant year-over-year increase of 170% at the midpoint.
Stock Price Movement
Following the earnings release, QuinStreet's stock price increased by approximately 1.14%.
Summary
QuinStreet's fiscal fourth quarter and fiscal year results depict a strong growth trajectory, underpinned by substantial improvements in the Auto Insurance segment and overall profitability enhancements. The positive forward guidance further underlines management's confidence in the company's business prospects.
The report has been organized into a clear and concise format suitable for investors.
