The following is a summary of the QuinStreet, Inc. (QNST) Q3 2024 Earnings Call Transcript:

Financial Performance:

• QuinStreet reported a Q3 revenue growth of about 40% sequentially, driven by a significant increase in auto insurance carrier spending.

• The company predicts a Q4 revenue between $180 million and $190 million, implying year-over-year growth of over 40% at the midpoint.

• Adjusted EBITDA rose to nearly $8 million in Q3 due to leverage from higher revenue, and it is expected to range between $10 million and $11 million in Q4, suggesting a year-over-year growth of over 400%.

• Adjusted net income came in at $3.4 million, or $0.06 cents per share, and total revenue sat at $168.6 million.

• QuinStreet finished the quarter with $40 million in cash and no bank debt.

Business Progress:

• A significant positive change in auto insurance client spending has been noted, with an expectation for this to drive continuous growth of product and market footprints.

• QuinStreet forecasts impressive Q4 growth, predicting a 20%+ annual growth rate over the full FY 2024, driven by strong total company revenue growth and EBITDA expansion across their diversified client portfolio.

• Home services and non-insurance sectors are predicted to have a record quarter in terms of revenue.

• Despite seeing a reduction in predicted Q4 year-over-year growth, the firm still anticipates a record total revenue quarter.

• The company plans to continue expanding its footprint, with increasing client demand and vertical expansion into more home service offerings. The current focus is on scaling existing trades by signing more clients and securing more efficient media to serve that client base.

More details: QuinStreet IR

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