Nextdoor Reports Fourth Quarter and Full Year 2024 Results
Nextdoor (NYSE: KIND) reported strong Q4 2024 results with revenue reaching $65.2 million, up 17% year-over-year. The company achieved 45.9 million Weekly Active Users (WAU), a 10% increase from the previous year.
Key financial highlights include reaching positive quarterly Adjusted EBITDA of $3.0 million for the first time as a public company, compared to a $14.0 million loss in Q4 2023. The Q4 net loss narrowed to $12.1 million from $40.5 million year-over-year.
For full-year 2024, revenue grew 13% to $247.3 million, while net loss improved to $98.1 million from $147.8 million in 2023. The company maintained a strong financial position with $427.0 million in cash and equivalents. Nextdoor announced plans to complete its NEXT product transformation by mid-2025.
Nextdoor (NYSE: KIND) ha riportato risultati solidi per il quarto trimestre del 2024, con un fatturato che ha raggiunto 65,2 milioni di dollari, in aumento del 17% rispetto all'anno precedente. L'azienda ha raggiunto 45,9 milioni di utenti attivi settimanali (WAU), un incremento del 10% rispetto all'anno scorso.
I principali punti finanziari includono il raggiungimento di un EBITDA rettificato trimestrale positivo di 3,0 milioni di dollari per la prima volta come società pubblica, rispetto a una perdita di 14,0 milioni di dollari nel quarto trimestre del 2023. La perdita netta del quarto trimestre si è ridotta a 12,1 milioni di dollari, rispetto ai 40,5 milioni di dollari dell'anno precedente.
Per l'intero anno 2024, il fatturato è cresciuto del 13% raggiungendo 247,3 milioni di dollari, mentre la perdita netta è migliorata a 98,1 milioni di dollari, rispetto ai 147,8 milioni di dollari del 2023. L'azienda ha mantenuto una solida posizione finanziaria con 427,0 milioni di dollari in contante e equivalenti. Nextdoor ha annunciato piani per completare la trasformazione del suo prodotto NEXT entro metà del 2025.
Nextdoor (NYSE: KIND) informó resultados sólidos para el cuarto trimestre de 2024, con ingresos que alcanzaron 65.2 millones de dólares, un aumento del 17% en comparación con el año anterior. La compañía logró 45.9 millones de usuarios activos semanales (WAU), un incremento del 10% respecto al año pasado.
Los puntos financieros clave incluyen alcanzar un EBITDA ajustado trimestral positivo de 3.0 millones de dólares por primera vez como empresa pública, en comparación con una pérdida de 14.0 millones de dólares en el cuarto trimestre de 2023. La pérdida neta del cuarto trimestre se redujo a 12.1 millones de dólares desde 40.5 millones de dólares en comparación con el año anterior.
Para el año completo 2024, los ingresos crecieron un 13% hasta 247.3 millones de dólares, mientras que la pérdida neta mejoró a 98.1 millones de dólares desde 147.8 millones de dólares en 2023. La compañía mantuvo una sólida posición financiera con 427.0 millones de dólares en efectivo y equivalentes. Nextdoor anunció planes para completar la transformación de su producto NEXT para mediados de 2025.
넥스트도어 (NYSE: KIND)는 2024년 4분기 실적을 발표하며 매출이 6,520만 달러에 달해 전년 대비 17% 증가했다고 보고했습니다. 이 회사는 4,590만 주간 활성 사용자(WAU)를 달성했으며, 이는 전년 대비 10% 증가한 수치입니다.
주요 재무 하이라이트로는 3.0백만 달러의 긍정적인 조정 EBITDA를 처음으로 공기업으로서 달성했으며, 이는 2023년 4분기 1,400만 달러의 손실과 비교됩니다. 4분기 순손실은 전년 대비 4,050만 달러에서 1,210만 달러로 축소되었습니다.
2024년 전체 연도 동안 매출은 13% 증가하여 2억 4,730만 달러에 달했으며, 순손실은 2023년 1억 4,780만 달러에서 9,810만 달러로 개선되었습니다. 이 회사는 4억 2,700만 달러의 현금 및 현금성 자산을 보유하며 강력한 재무 상태를 유지했습니다. 넥스트도어는 2025년 중반까지 NEXT 제품 변환을 완료할 계획을 발표했습니다.
Nextdoor (NYSE: KIND) a annoncé de solides résultats pour le quatrième trimestre 2024, avec un chiffre d'affaires atteignant 65,2 millions de dollars, en hausse de 17 % par rapport à l'année précédente. L'entreprise a atteint 45,9 millions d'utilisateurs actifs hebdomadaires (WAU), soit une augmentation de 10 % par rapport à l'année dernière.
Les points financiers clés incluent l'atteinte d'un EBITDA ajusté trimestriel positif de 3,0 millions de dollars pour la première fois en tant qu'entreprise publique, contre une perte de 14,0 millions de dollars au quatrième trimestre 2023. La perte nette du quatrième trimestre a été réduite à 12,1 millions de dollars, contre 40,5 millions de dollars l'année précédente.
Pour l'année complète 2024, le chiffre d'affaires a augmenté de 13 % pour atteindre 247,3 millions de dollars, tandis que la perte nette s'est améliorée à 98,1 millions de dollars contre 147,8 millions de dollars en 2023. L'entreprise a maintenu une solide position financière avec 427,0 millions de dollars en liquidités et équivalents. Nextdoor a annoncé des plans pour achever la transformation de son produit NEXT d'ici la mi-2025.
Nextdoor (NYSE: KIND) berichtete über starke Ergebnisse für das vierte Quartal 2024, mit einem Umsatz von 65,2 Millionen Dollar, was einem Anstieg von 17% im Vergleich zum Vorjahr entspricht. Das Unternehmen erreichte 45,9 Millionen wöchentliche aktive Nutzer (WAU), ein Anstieg von 10% im Vergleich zum Vorjahr.
Wichtige finanzielle Highlights umfassen die erstmalige Erreichung eines positiven bereinigten EBITDA von 3,0 Millionen Dollar als öffentliches Unternehmen, im Vergleich zu einem Verlust von 14,0 Millionen Dollar im vierten Quartal 2023. Der Nettoverlust im vierten Quartal verringerte sich auf 12,1 Millionen Dollar von 40,5 Millionen Dollar im Vorjahr.
Für das Gesamtjahr 2024 wuchs der Umsatz um 13% auf 247,3 Millionen Dollar, während sich der Nettoverlust auf 98,1 Millionen Dollar von 147,8 Millionen Dollar im Jahr 2023 verbesserte. Das Unternehmen hielt eine starke Finanzlage mit 427,0 Millionen Dollar in Bargeld und Äquivalenten. Nextdoor kündigte Pläne an, die Transformation seines NEXT-Produkts bis Mitte 2025 abzuschließen.
- First-ever positive quarterly Adjusted EBITDA of $3M
- Revenue grew 17% YoY to $65.2M in Q4
- Weekly Active Users up 10% to 45.9M
- Net loss reduced by 70% YoY in Q4
- Strong cash position of $427M
- Still operating at a net loss of $12.1M in Q4
- Full-year net loss of $98.1M
- Revenue growth decelerated to 13% for full-year
Insights
Nextdoor's Q4 2024 results mark a significant milestone in the company's path toward profitability, with
The narrowing GAAP net loss (
The company's surpassing of 100 million verified neighbors represents a critical mass that could enhance network effects and improve advertiser appeal. However, the
CEO Tolia's emphasis on the NEXT product transformation indicates a strategic pivot from building the neighborhood network to more effectively monetizing it. The planned mid-2025 delivery timeline for these changes suggests potential revenue acceleration in the latter half of 2025 and into 2026.
For investors, the key question remains whether Nextdoor can maintain positive Adjusted EBITDA while continuing to grow both users and revenue at double-digit rates. The substantial gap between Adjusted EBITDA and GAAP net loss (
Nextdoor's Q4 results reveal a company successfully navigating the challenging transition from growth-at-all-costs to sustainable monetization. The
The platform's achievement of 100 million verified neighbors represents a significant milestone, though the
CEO Tolia's emphasis on the NEXT product transformation likely addresses this exact issue. The company appears to be pivoting from user acquisition to engagement optimization, recognizing that advertiser value derives from active, engaged communities rather than merely registered accounts.
Nextdoor's hyperlocal focus creates a unique advertising proposition for businesses requiring geographic precision – real estate, home services, local retail, and community services. These categories typically rely on expensive direct mail or inefficient broader digital platforms, giving Nextdoor a potentially defensible niche between national social platforms and purely local advertising channels.
The improved advertiser performance mentioned suggests enhancements to their targeting capabilities and ad formats. For a platform at Nextdoor's scale, the
The planned mid-2025 delivery of their product transformation creates a clear timeline for investors to evaluate whether Nextdoor can evolve from merely connecting neighbors to becoming an essential utility for local commerce and community engagement. Success will require maintaining their current efficiency gains while delivering product innovations that significantly boost both user engagement and advertiser ROI.
-
Q4 revenue of
$65 million 17% year-over-year; Q4 WAU of 45.9 million, +10% year-over-year -
Q4 GAAP net loss of
$12 million $3 million $11 million - Exceeded 100M Verified Neighbors at year-end 2024
Nextdoor's highlighted metrics for the fourth quarter ended December 31, 2024 include:
-
Total Weekly Active Users (WAU) of 45.9 million increased
10% year-over-year. -
Revenue of
$65.2 million 17% year-over-year. -
Net loss was
$12.1 million $40.5 million -
Adjusted EBITDA was
$3.0 million $14.0 million
Nextdoor's highlighted metrics for the year ended December 31, 2024 include:
-
Revenue of
$247.3 million 13% year-over-year. -
Net loss was
$98.1 million $147.8 million -
Adjusted EBITDA loss was
$18.2 million $74.1 million -
Cash, cash equivalents, and marketable securities were
$427.0 million
"Our Q4 results reflect our continued progress and disciplined approach," said Nextdoor CEO Nirav Tolia. "We delivered positive quarterly Adjusted EBITDA for the first time as a public company, supported by continued user growth and improved performance for advertisers using our Nextdoor Ads Platform."
"We are now making a decisive shift from vision to execution on NEXT, our complete product transformation. We are encouraged by the useful early signals we have seen, and excited to deliver these changes by mid-2025."
For more detailed information on our operating and financial results for the fourth quarter and full year ended December 31, 2024, as well as our outlook, please reference our Shareholder Letter posted to our Investor Relations website located at investors.nextdoor.com.
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
(in thousands) |
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Revenue |
$ |
65,228 |
|
|
$ |
55,557 |
|
|
$ |
247,276 |
|
|
$ |
218,309 |
|
Loss from operations |
$ |
(17,097 |
) |
|
$ |
(47,654 |
) |
|
$ |
(121,639 |
) |
|
$ |
(172,284 |
) |
Net loss |
$ |
(12,123 |
) |
|
$ |
(40,530 |
) |
|
$ |
(98,063 |
) |
|
$ |
(147,765 |
) |
Adjusted EBITDA(1) |
$ |
3,043 |
|
|
$ |
(14,042 |
) |
|
$ |
(18,207 |
) |
|
$ |
(74,107 |
) |
(1) The following is a reconciliation of net loss, the most comparable GAAP measure, to adjusted EBITDA for the periods presented above:
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
(in thousands) |
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net loss |
$ |
(12,123 |
) |
|
$ |
(40,530 |
) |
|
$ |
(98,063 |
) |
|
$ |
(147,765 |
) |
Depreciation and amortization |
|
591 |
|
|
|
1,413 |
|
|
|
3,898 |
|
|
|
5,769 |
|
Stock-based compensation |
|
19,874 |
|
|
|
22,290 |
|
|
|
74,055 |
|
|
|
83,025 |
|
Interest income |
|
(5,322 |
) |
|
|
(7,145 |
) |
|
|
(24,381 |
) |
|
|
(25,780 |
) |
Provision for income taxes |
|
23 |
|
|
|
42 |
|
|
|
706 |
|
|
|
756 |
|
Restructuring charges |
|
— |
|
|
|
9,888 |
|
|
|
25,578 |
|
|
|
9,888 |
|
Adjusted EBITDA |
$ |
3,043 |
|
|
$ |
(14,042 |
) |
|
$ |
(18,207 |
) |
|
$ |
(74,107 |
) |
Nextdoor will host a conference call at 2:00 p.m. PT/5:00 p.m. ET today to discuss these results and outlook. A live webcast of our fourth quarter and full year 2024 earnings release call will be available in the Events & Presentations section of Nextdoor’s Investor Relations website located at investors.nextdoor.com. After the live event, the audio recording for the webcast can be accessed on the same website for approximately one year.
Nextdoor uses its Investor Relations website (investors.nextdoor.com), its X handle (x.com/Nextdoor), its LinkedIn Home Page (linkedin.com/company/nextdoor-com), and Nirav Tolia’s LinkedIn posts (https://www.linkedin.com/in/niravtolia/) and X posts (https://x.com/niravtolia) as a means of disseminating or providing notification of, among other things, news or announcements regarding its business or financial performance, investor events, press releases, and earnings releases, and as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared in accordance with GAAP, we present certain non-GAAP financial measures, such as Adjusted EBITDA, in this press release. Our use of non-GAAP financial measures has limitations as an analytical tool, and these measures should not be considered in isolation or as a substitute for analysis of financial results as reported under GAAP.
We use non-GAAP financial measures in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including in the preparation of our annual operating budget, as a measure of our core operating results and the effectiveness of our business strategy, and in evaluating our financial performance. Non-GAAP financial measures provide consistency and comparability with past financial performance, facilitate period-to-period comparisons of core operating results, and also facilitate comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. In addition, Adjusted EBITDA is widely used by investors and securities analysts to measure a company's operating performance. We exclude the following items from one or more of our non-GAAP financial measures: stock-based compensation expense (non-cash expense calculated by companies using a variety of valuation methodologies and subjective assumptions), depreciation and amortization (non-cash expense), interest income, provision for income taxes, and, if applicable, acquisition-related costs.
Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, (1) stock-based compensation expense has recently been, and will continue to be for the foreseeable future, a significant recurring expense for our business and an important part of our compensation strategy, (2) although depreciation and amortization expense are non-cash charges, the assets subject to depreciation and amortization may have to be replaced in the future, and our non-GAAP measures do not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements, and (3) adjusted EBITDA does not reflect: (a) changes in, or cash requirements for, our working capital needs; (b) interest expense, or the cash requirements necessary to service interest or principal payments on our debt, which reduces cash available to us; or (c) tax payments that may represent a reduction in cash available to us. The non-GAAP measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures.
About Nextdoor
Nextdoor (NYSE: KIND) is the essential neighborhood network. Neighbors, public agencies and businesses use Nextdoor to connect around local information that matters in more than 340,000 neighborhoods across 11 countries. Nextdoor builds innovative technology to foster local community, and brands and businesses of all sizes use Nextdoor’s proprietary advertising platform to engage with neighborhoods at scale. Download the app and join the neighborhood at nextdoor.com. For more information and media assets, visit nextdoor.com/newsroom.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250227754427/en/
Investor Relations:
John T. Williams
jwilliams@nextdoor.com
ir@nextdoor.com
or visit investors.nextdoor.com
Media Relations:
Kelsey Grady
Antonia Gray
press@nextdoor.com
Source: Nextdoor Holdings, Inc.
FAQ
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