Nextdoor Q3 revenue beats analyst expectations on active user growth

By Reuters News


Overview

  • US neighborhood social network's Q3 revenue rose 14% yr/yr, beating analyst expectations

  • Adjusted EBITDA for Q3 beat analyst expectations, rising to $10 mln from $4 mln

  • Company narrowed net loss to less than $1 mln from $13 mln a year ago


Outlook

  • Nextdoor expects Q4 revenue between $78 mln and $80 mln

  • Company forecasts Q4 adjusted EBITDA of $10 mln to $11 mln

  • Nextdoor projects full-year revenue of $293 mln to $295 mln


Result Drivers

  • USER GROWTH - Co said third consecutive quarter of growth in weekly active users supported revenue increase

  • PRODUCT IMPROVEMENTS - Co attributed results to ongoing product and platform improvements


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$78.77 mln

$77.23 mln (5 Analysts)

Q3 Net Loss

$659,000

Q3 Adjusted EBITDA

Beat

$10.30 mln

$8.11 mln (5 Analysts)

Q3 Income from Operations

-$4.20 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the online services peer group is "buy."

  • Wall Street's median 12-month price target for Nextdoor Holdings, Inc. is $3.25, about 33.2% above its November 4 closing price of $2.44


Reuters Recommended Reads

  • Nov 4 - Snap Q3 revenue misses estimates; to replace DAU with MAU metric

  • Nov 3 - Sprout Social Q3 revenue rises 8% on larger customer cohort

  • Nov 4 - HubSpot Q3 revenue beats estimates driven by subscription growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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