The following is a summary of the NerdWallet Inc. (NRDS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• NerdWallet reported a Q1 revenue of $162 million, marking a 5% YoY decline.

• Credit card and loan revenues declined YoY by 19% and 3% respectively, contributing $50 million and $21 million to the total revenue.

• A 21% YoY growth was reported for the SMB products segment contributing $30 million to revenue.

• Emerging verticals observed a 2% YoY decline and contributed $60 million.

• Gross non-GAAP operating income for Q1 was roughly $11 million, marking a 7% margin, a four-point increase YoY.

• GAAP operating income was reported at $3.7 million, and net income at $1.1 million.

Business Progress:

• NerdWallet's brand campaign drove record highs in brand awareness while spending decreased 30% YoY.

• Monthly Unique Users (MUUs) grew by 25% YoY with 29 million average monthly unique users in Q1.

• International business grew by 31% YoY, outpacing US growth.

• A significant increase in registered users was reported for Q1.

• Launched and monetized new home services categories within a few weeks while also investing in nascent categories like Medicare, Social Security, and estate planning.

• Plans for returning to double-digit growth by the second half of the year, led by SMB products and insurance, but it depends on potential interest rate fluctuations.

• The company is investing in improving its market share in card originations and plans to deliver second-quarter revenue in the range of $147 million to $152 million, marking a 4% increase YoY.

• Investments will continue in non-monetizing MUU content and in new markets to drive future growth.

More details: NerdWallet IR

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