In This Story
QuinStreet Inc. (QNST-4.16%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net revenue to $282,596,000 from $122,683,000 in the same quarter the previous year. The increase is attributed to higher demand in the financial services client vertical, particularly in the insurance business.
Cost of revenue for the quarter was $255,842,000, representing 90.5% of net revenue, compared to 94.4% in the same quarter of the previous year. This decrease in cost ratio is due to a decrease in personnel cost and depreciation as a percentage of net revenue.
The company reported a gross profit of $26,754,000 for the quarter, compared to $6,853,000 in the previous year, with the increase attributed to higher revenue volumes.
Operating expenses increased to $28,142,000 from $18,248,000, primarily due to increased personnel costs and an adjustment to the fair value of contingent consideration.
Net loss for the quarter was $1,549,000, compared to a net loss of $11,554,000 in the previous year. The improvement is attributed to increased revenue and gross profit.
Cash provided by operating activities was $24,972,000, while cash used in investing and financing activities was $5,374,000 and $12,275,000, respectively.
QuinStreet had a working capital of $57,835,000 as of December 31, 2024. The company continues to focus on expanding its media strategies and client initiatives.
The filing also details various acquisitions, including the acquisition of AquaVida, which is expected to broaden the company's access to media channels.
QuinStreet does not anticipate cash dividend payments to common stockholders in the near future.
The company identified no material weaknesses in its internal controls over financial reporting during the quarter.
QuinStreet continues to focus on enhancing its product offerings and expanding into new markets, with a significant portion of revenue derived from the financial services client vertical.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the QuinStreet Inc. quarterly 10-Q report dated February 7, 2025. To report an error, please email earnings@qz.com.