QuinStreet, Inc. reported significant financial growth in its latest 10-Q filing for the quarter ending December 31, 2024, with net revenue reaching $282.6 million, a 130% increase from $122.7 million in the same period last year. For the six months ended December 31, 2024, revenue totaled $561.8 million, up 128% from $246.6 million in the prior year. The company's gross profit also saw substantial improvement, rising to $26.8 million for the quarter, compared to $6.9 million a year earlier, reflecting a gross profit margin of 9.5%, up from 5.6%. Despite these gains, QuinStreet reported a net loss of $1.5 million for the quarter, a significant reduction from a loss of $11.6 million in the prior year.
The company attributed its revenue growth primarily to its financial services vertical, which generated $219.9 million in revenue, a 208% increase year-over-year, largely driven by a surge in demand from auto insurance clients. The home services vertical also contributed positively, with revenue increasing by 21% to $59.6 million. QuinStreet's operational metrics showed a rise in customer engagement, with a notable increase in accounts receivable, which grew to $150.4 million from $111.8 million, indicating higher sales volumes.
Strategically, QuinStreet has been active in expanding its market presence through acquisitions. In January 2024, the company acquired assets from BestCompany for $2.5 million, with additional post-closing payments of $4 million. This acquisition aims to enhance QuinStreet's customer and media relationships in the home services sector. Additionally, the company acquired AquaVida in March 2024, further broadening its media generation capabilities. These acquisitions are part of QuinStreet's strategy to diversify its media sources and improve its competitive positioning in the online marketing landscape.
Operationally, QuinStreet's employee headcount has increased, reflecting its growth initiatives and the need for additional resources to support its expanding operations. The company reported a total of 56.5 million shares outstanding as of January 31, 2025. The filing also highlighted a focus on improving its technology infrastructure and product offerings, particularly in response to evolving market demands and competitive pressures.
Looking ahead, QuinStreet expressed optimism about its growth trajectory, citing the ongoing demand for digital marketing services and the potential for further revenue increases as it continues to enhance its product offerings and expand its market reach. However, the company acknowledged the challenges posed by macroeconomic conditions and regulatory changes that could impact its operations and financial performance.
About QUINSTREET, INC
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