Nextdoor Q3 revenue beats analyst expectations on active user growth
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
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(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.)