Nextdoor Holdings, Inc. reported its financial results for the first quarter of 2026, revealing a revenue of $61.7 million, which marks a 14% increase from $54.2 million in the same period last year. The growth in revenue was attributed to increased advertiser spending and a slight rise in active users, with the platform's weekly active users (WAU) reaching 22.3 million, up 1% year-over-year. The average revenue per platform WAU also improved, rising 12% to $2.77.
Despite the revenue growth, Nextdoor's total costs and expenses decreased by 5% to $77.0 million, down from $81.2 million in the prior year. This reduction was primarily driven by lower sales and marketing expenses, which fell 11% to $19.6 million, and a 4% decrease in research and development costs. The company reported a net loss of $11.4 million, a significant improvement of 48% compared to a net loss of $22.0 million in Q1 2025. The adjusted EBITDA loss narrowed to $0.2 million from $9.2 million in the previous year.
Nextdoor's operational metrics indicate a stable user engagement, with the platform maintaining a consistent user base across its 350,000 neighborhoods in 11 countries. The company continues to focus on enhancing its advertising services, which remain the primary source of revenue. As of March 31, 2026, Nextdoor held $373.2 million in cash, cash equivalents, and marketable securities, providing a solid liquidity position to support ongoing operations and strategic initiatives.
In terms of strategic developments, Nextdoor has been actively managing its share repurchase program, having repurchased approximately 17 million shares for $28.7 million during the quarter. The company also announced a new share repurchase program in April 2026, authorizing up to $100 million in aggregate for Class A common stock, set to expire in June 2028. Looking ahead, Nextdoor anticipates continued investment in product development and marketing to drive user engagement and revenue growth, while navigating potential economic challenges and competition in the digital advertising space.
About Nextdoor Holdings, Inc.
Nextdoor is a neighborhood social networking platform connecting residents, local businesses, and public agencies across multiple countries. It facilitates local discussions, community updates, and discovery of services, while offering targeted advertising solutions based on local data. The platform emphasizes trust, authenticity, and community engagement, leveraging AI and proprietary technology to enhance user experience and enable local commerce and information sharing.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.