NerdWallet Reports Fourth Quarter and Full Year 2022 Results
NerdWallet, Inc. (Nasdaq: NRDS) reported strong financial results for Q4 and full year 2022. Q4 revenue reached $142.0 million, a 43% increase year-over-year, with a net income of $8.9 million, or $0.12 per diluted share. Full year revenue totaled $538.9 million, but the company posted a net loss of $10.2 million for the full year. Adjusted EBITDA for Q4 was $31.0 million, reflecting a 130% increase from the previous year. The company also reported a surge in registered users by over 80%, reaching 14.0 million. Despite challenges in loan revenues, particularly mortgages, growth was driven by strong performance in credit cards and other verticals.
- Revenue of $142.0 million for Q4, up 43% YoY.
- Net income of $8.9 million for Q4, contrasting with a net loss of $10.2 million for the full year.
- Adjusted EBITDA of $31.0 million for Q4, up 130% YoY.
- Registered users increased by over 80%, reaching 14.0 million.
- Loans revenue down 24% YoY, primarily due to mortgage declines.
Fourth Quarter Revenue of
FINANCIAL HIGHLIGHTS
-
Revenue of
for Q4’22 and$142.0 million for full year 2022$538.9 million -
GAAP net income of
or$8.9 million per diluted share for Q4’22 and GAAP net loss of$0.12 or$10.2 million per diluted share for full year 2022$0.14 -
Adjusted EBITDA of
for Q4’22 and$31.0 million for full year 2022$67.1 million
“2022 was a year of great progress for
“I am proud to share our strong finish to 2022 as we exceeded our revenue and adjusted EBITDA guidance in Q4,” said
FOURTH QUARTER 2022 HIGHLIGHTS
-
Credit cards revenue of
grew$53.1 million 52% year-over-year, reflecting growing brand awareness and increased consumer intent combined with our deep alignment with partners to deliver quality matches. -
Loans revenue of
was down$22.4 million 24% year-over-year, primarily due to decreases in mortgages driven by increasing interest rates and continuing macroeconomic headwinds, partially offset by growth in personal loans as a result of our acquisition of On the Barrelhead (OTB) inJuly 2022 . -
Other verticals revenue of
was up$66.5 million 90% year-over-year, driven by strong growth in banking and SMB products. -
We had 20 million average Monthly Unique Users (MUUs), which was up
9% year-over-year, inclusive of our acquisition of OTB. We saw strong engagement in areas such as banking and travel, though this was partially offset by declines from a continued challenging macroeconomic environment in both mortgages and investing. -
We repaid the
draw on our credit facility, ending the year with no outstanding debt.$70 million
SUMMARY FINANCIAL RESULTS
|
|
Quarter Ended |
|
% Change |
|
Quarter Ended |
|
% Change |
|||||||||
|
|
|
|
|
|
|
|
|
|||||||||
(in millions, except per share amounts) |
|
2022 |
|
|
2021 |
|
|
YoY |
|
|
2022 |
|
|
QoQ |
|||
Revenue |
|
$ |
142.0 |
|
$ |
99.5 |
|
|
43 |
% |
|
$ |
142.6 |
|
|
0 |
% |
Credit cards(1) |
|
|
53.1 |
|
|
34.9 |
|
|
52 |
% |
|
|
57.4 |
|
|
(7 |
%) |
Loans(2) |
|
|
22.4 |
|
|
29.6 |
|
|
(24 |
%) |
|
|
28.4 |
|
|
(21 |
%) |
Other verticals(3) |
|
|
66.5 |
|
|
35.0 |
|
|
90 |
% |
|
|
56.8 |
|
|
17 |
% |
|
|
|
|
|
|
|
|
|
|
|
|||||||
Income (loss) from operations |
|
$ |
7.9 |
|
$ |
(9.4 |
) |
|
NM |
|
|
$ |
(8.8 |
) |
|
NM |
|
Net income (loss) |
|
$ |
8.9 |
|
$ |
(7.9 |
) |
|
NM |
|
|
$ |
0.7 |
|
|
NM |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Net income (loss) per share |
|
|
|
|
|
|
|
|
|
|
|||||||
Basic |
|
$ |
0.12 |
|
$ |
(0.13 |
) |
|
NM |
|
|
$ |
0.01 |
|
|
NM |
|
Diluted |
|
$ |
0.12 |
|
$ |
(0.13 |
) |
|
NM |
|
|
$ |
0.01 |
|
|
NM |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Non-GAAP financial measure(4) |
|
|
|
|
|
|
|
|
|
|
|||||||
Adjusted EBITDA |
|
$ |
31.0 |
|
$ |
13.5 |
|
|
130 |
% |
|
$ |
14.5 |
|
|
113 |
% |
|
|
|
|
|
|
|
|
|
|
|
|||||||
Cash and cash equivalents |
|
$ |
83.9 |
|
$ |
167.8 |
|
|
(50 |
%) |
|
$ |
138.4 |
|
|
(39 |
%) |
Average monthly unique users(5) |
|
|
20 |
|
|
18 |
|
|
9 |
% |
|
|
19 |
|
|
1 |
% |
______________ |
||
(1) |
Credit cards revenue consists of revenue from consumer credit cards. |
|
(2) |
Loans revenue includes revenue from personal loans, mortgages, student loans and auto loans. |
|
(3) |
Other verticals revenue includes revenue from other product sources, including SMB products, banking, insurance, investing and NerdWallet |
|
(4) |
Adjusted EBITDA is a non-GAAP measure. See “Non-GAAP Financial Measure” for more information. |
|
(5) |
We define a Monthly Unique User as a unique user with at least one session in a given month as determined by unique device identifiers. |
QUARTERLY CONFERENCE CALL
A conference call to discuss NerdWallet’s fourth quarter 2022 financial results will be webcast live today,
SHAREHOLDER LETTER
A shareholder letter providing additional information and analysis can be found at NerdWallet’s investor relations website at https://investors.nerdwallet.com.
ABOUT
“NerdWallet” is a trademark of
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||||||||||
Unaudited |
||||||||||||||||||||||
|
|
Three Months Ended
|
|
% Change |
|
Year Ended
|
|
% Change |
||||||||||||||
(in millions, except per share amounts) |
|
|
2022 |
|
|
|
2021 |
|
|
|
|
2022 |
|
|
|
2021 |
|
|
||||
Revenue |
|
$ |
142.0 |
|
|
$ |
99.5 |
|
|
43 |
% |
|
$ |
538.9 |
|
|
$ |
379.6 |
|
|
42 |
% |
Costs and Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Cost of revenue |
|
|
12.2 |
|
|
|
7.2 |
|
|
68 |
% |
|
|
39.8 |
|
|
|
28.5 |
|
|
39 |
% |
Research and development |
|
|
19.4 |
|
|
|
18.6 |
|
|
5 |
% |
|
|
77.6 |
|
|
|
62.2 |
|
|
25 |
% |
Sales and marketing |
|
|
87.5 |
|
|
|
63.5 |
|
|
38 |
% |
|
|
375.6 |
|
|
|
271.3 |
|
|
38 |
% |
General and administrative |
|
|
14.4 |
|
|
|
11.6 |
|
|
24 |
% |
|
|
58.2 |
|
|
|
38.5 |
|
|
51 |
% |
Change in fair value of contingent consideration related to earnouts |
|
|
0.6 |
|
|
|
8.0 |
|
|
(92 |
%) |
|
|
6.7 |
|
|
|
18.1 |
|
|
(63 |
%) |
Total costs and expenses |
|
|
134.1 |
|
|
|
108.9 |
|
|
23 |
% |
|
|
557.9 |
|
|
|
418.6 |
|
|
33 |
% |
Income (Loss) From Operations |
|
|
7.9 |
|
|
|
(9.4 |
) |
|
NM |
|
|
|
(19.0 |
) |
|
|
(39.0 |
) |
|
(51 |
%) |
Other income (expense), net: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest income |
|
|
0.9 |
|
|
|
— |
|
|
NM |
|
|
|
1.5 |
|
|
|
— |
|
|
NM |
|
Interest expense |
|
|
(1.2 |
) |
|
|
(0.2 |
) |
|
384 |
% |
|
|
(2.5 |
) |
|
|
(1.3 |
) |
|
91 |
% |
Other gains, net |
|
|
— |
|
|
|
1.5 |
|
|
NM |
|
|
|
— |
|
|
|
2.6 |
|
|
NM |
|
Total other income (expense), net |
|
|
(0.3 |
) |
|
|
1.3 |
|
|
NM |
|
|
|
(1.0 |
) |
|
|
1.3 |
|
|
NM |
|
Income (loss) before income taxes |
|
|
7.6 |
|
|
|
(8.1 |
) |
|
NM |
|
|
|
(20.0 |
) |
|
|
(37.7 |
) |
|
(47 |
%) |
Income tax provision (benefit) |
|
|
(1.3 |
) |
|
|
(0.2 |
) |
|
585 |
% |
|
|
(9.8 |
) |
|
|
4.8 |
|
|
NM |
|
Net Income (Loss) |
|
$ |
8.9 |
|
|
$ |
(7.9 |
) |
|
NM |
|
|
$ |
(10.2 |
) |
|
$ |
(42.5 |
) |
|
(76 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net Income (Loss) Per Share Attributable to Common Stockholders |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic |
|
$ |
0.12 |
|
|
$ |
(0.13 |
) |
|
NM |
|
|
$ |
(0.14 |
) |
|
$ |
(0.82 |
) |
|
(83 |
%) |
Diluted |
|
$ |
0.12 |
|
|
$ |
(0.13 |
) |
|
NM |
|
|
$ |
(0.14 |
) |
|
$ |
(0.82 |
) |
|
(83 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Weighted-Average Shares Used in Computing Net Income (Loss) Per Share Attributable to Common Stockholders |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic |
|
|
74.6 |
|
|
|
60.1 |
|
|
|
|
|
70.6 |
|
|
|
51.9 |
|
|
|
||
Diluted |
|
|
76.9 |
|
|
|
60.1 |
|
|
|
|
|
70.6 |
|
|
|
51.9 |
|
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||
Unaudited |
||||||
(in millions) |
|
|
|
|
||
Assets |
|
|
|
|
||
Current assets: |
|
|
|
|
||
Cash and cash equivalents |
|
$ |
83.9 |
|
$ |
167.8 |
Accounts receivable—net |
|
|
87.0 |
|
|
57.6 |
Prepaid expenses and other current assets |
|
|
18.3 |
|
|
17.4 |
Total current assets |
|
|
189.2 |
|
|
242.8 |
Property, equipment and software—net |
|
|
49.1 |
|
|
34.9 |
|
|
|
111.2 |
|
|
43.8 |
Intangible assets—net |
|
|
64.1 |
|
|
27.6 |
Right-of-use assets |
|
|
11.3 |
|
|
13.9 |
Other assets |
|
|
0.8 |
|
|
1.1 |
Total Assets |
|
$ |
425.7 |
|
$ |
364.1 |
Liabilities and Stockholders’ Equity |
|
|
|
|
||
Current liabilities: |
|
|
|
|
||
Accounts payable |
|
$ |
3.6 |
|
$ |
3.2 |
Accrued expenses and other current liabilities |
|
|
37.9 |
|
|
32.1 |
Contingent consideration—current |
|
|
30.9 |
|
|
30.5 |
Total current liabilities |
|
|
72.4 |
|
|
65.8 |
Contingent consideration—noncurrent |
|
|
— |
|
|
24.2 |
Other liabilities—noncurrent |
|
|
11.6 |
|
|
16.5 |
Total liabilities |
|
|
84.0 |
|
|
106.5 |
Commitments and contingencies |
|
|
|
|
||
Stockholders’ equity |
|
|
341.7 |
|
|
257.6 |
Total Liabilities and Stockholders’ Equity |
|
$ |
425.7 |
|
$ |
364.1 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||
Unaudited |
||||||||
|
|
Year Ended
|
||||||
(in millions) |
|
2022 |
|
2021 |
||||
Operating Activities: |
|
|
|
|
||||
Net loss |
|
$ |
(10.2 |
) |
|
$ |
(42.5 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
||||
Depreciation and amortization |
|
|
37.0 |
|
|
|
27.1 |
|
Stock-based compensation |
|
|
34.4 |
|
|
|
17.9 |
|
Change in fair value of contingent consideration related to earnouts |
|
|
6.7 |
|
|
|
18.1 |
|
Deferred taxes |
|
|
(12.6 |
) |
|
|
4.4 |
|
Non-cash lease costs |
|
|
2.6 |
|
|
|
7.9 |
|
Other, net |
|
|
1.3 |
|
|
|
(2.1 |
) |
Changes in operating assets and liabilities, net of business combination: |
|
|
|
|
||||
Accounts receivable |
|
|
(18.7 |
) |
|
|
(20.2 |
) |
Prepaid expenses and other assets |
|
|
(0.7 |
) |
|
|
(9.6 |
) |
Accounts payable |
|
|
(5.6 |
) |
|
|
(2.2 |
) |
Accrued expenses and other current liabilities |
|
|
5.8 |
|
|
|
16.6 |
|
Payment of contingent consideration |
|
|
(11.5 |
) |
|
|
— |
|
Operating lease liabilities |
|
|
(2.4 |
) |
|
|
(7.3 |
) |
Other liabilities |
|
|
(1.1 |
) |
|
|
(0.9 |
) |
Net cash provided by operating activities |
|
|
25.0 |
|
|
|
7.2 |
|
Investing Activities: |
|
|
|
|
||||
Capitalized software development costs |
|
|
(27.6 |
) |
|
|
(20.7 |
) |
Purchase of property and equipment |
|
|
(4.6 |
) |
|
|
(2.3 |
) |
Business combination, net of cash acquired |
|
|
(68.1 |
) |
|
|
— |
|
Net cash used in investing activities |
|
|
(100.3 |
) |
|
|
(23.0 |
) |
Financing Activities: |
|
|
|
|
||||
Payment of contingent consideration |
|
|
(19.0 |
) |
|
|
— |
|
Proceeds from line of credit |
|
|
70.0 |
|
|
|
— |
|
Payments on line of credit |
|
|
(70.0 |
) |
|
|
— |
|
Principal repayment of subordinated promissory notes |
|
|
— |
|
|
|
(28.5 |
) |
Repurchase of Series A redeemable convertible preferred stock |
|
|
— |
|
|
|
(2.1 |
) |
Proceeds from exercise of stock options |
|
|
7.7 |
|
|
|
11.0 |
|
Issuance of Class A common stock under Employee Stock Purchase Plan |
|
|
4.5 |
|
|
|
— |
|
Tax payments related to net-share settlements on restricted stock units |
|
|
(0.6 |
) |
|
|
(1.9 |
) |
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions |
|
|
— |
|
|
|
140.0 |
|
Payment of offering costs related to initial public offering |
|
|
(1.0 |
) |
|
|
(4.0 |
) |
Repurchase of Class A common stock |
|
|
— |
|
|
|
(0.5 |
) |
Repurchase of Class F common stock |
|
|
— |
|
|
|
(12.4 |
) |
Repurchase of stock options |
|
|
— |
|
|
|
(1.4 |
) |
Net cash provided by (used in) financing activities |
|
|
(8.4 |
) |
|
|
100.2 |
|
Effect of exchange rate changes on cash and cash equivalents |
|
|
(0.2 |
) |
|
|
— |
|
Net increase (decrease) in cash and cash equivalents |
|
|
(83.9 |
) |
|
|
84.4 |
|
Cash and Cash Equivalents: |
|
|
|
|
||||
Beginning of year |
|
|
167.8 |
|
|
|
83.4 |
|
End of year |
|
$ |
83.9 |
|
|
$ |
167.8 |
|
NON-GAAP FINANCIAL MEASURE
Adjusted EBITDA
We use Adjusted EBITDA in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our Board of Directors concerning our financial performance.
We define Adjusted EBITDA as net income (loss) from continuing operations adjusted to exclude depreciation and amortization, interest expense, net, provision (benefit) for income taxes, and further exclude (1) losses (gains) on disposals of assets, (2) remeasurement of the embedded derivative in our previously outstanding long-term debt, (3) change in fair value of contingent consideration related to earnouts, (4) deferred compensation related to earnouts, (5) stock-based compensation, and (6) acquisition-related costs.
The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, or because the amount is not driven by core operating results and renders comparisons with prior periods less meaningful.
We believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results and in comparing operating results across periods. Moreover, Adjusted EBITDA is a key measurement used by our management internally to make operating decisions, including those related to analyzing operating expenses, evaluating performance, and performing strategic planning and annual budgeting. However, the use of this non-GAAP measure has certain limitations because it does not reflect all items of income and expense that affect our operations. Adjusted EBITDA has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP. These limitations include the following:
- Adjusted EBITDA does not reflect interest income (expense) and other gains (losses), net, which include unrealized and realized gains and losses on foreign currency exchange and the embedded derivative in our previously outstanding long-term debt, as well as certain nonrecurring gains (losses);
- Adjusted EBITDA excludes certain recurring, non-cash charges, such as depreciation of property and equipment, amortization of intangible assets, and losses/gains on disposals of assets. Although these are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect all cash requirements for such replacements or for new capital expenditure requirements;
- Adjusted EBITDA excludes stock-based compensation, including for acquisition-related inducement awards, which has been, and will continue to be for the foreseeable future, a significant recurring expense in our business and an important part of our compensation strategy; and
- Adjusted EBITDA excludes acquisition-related costs, including acquisition-related retention compensation under compensatory retention agreements with certain key employees, acquisition-related transaction expenses, contingent consideration fair value adjustments related to earnouts, and deferred compensation related to earnouts.
In addition, Adjusted EBITDA as we define it may not be comparable to similarly titled measures used by other companies. Because of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including net income (loss) and our other GAAP results.
We compensate for these limitations by reconciling Adjusted EBITDA to net income (loss), the most comparable GAAP financial measure, as follows:
|
|
Three Months Ended
|
|
% Change |
|
Year Ended
|
|
% Change |
||||||||||||||
(in millions) |
|
2022 |
|
2021 |
|
|
2022 |
|
2021 |
|
||||||||||||
Net income (loss) |
|
$ |
8.9 |
|
|
$ |
(7.9 |
) |
|
NM |
|
|
$ |
(10.2 |
) |
|
$ |
(42.5 |
) |
|
(76 |
%) |
Depreciation and amortization |
|
|
11.4 |
|
|
|
7.2 |
|
|
56 |
% |
|
|
37.0 |
|
|
|
27.1 |
|
|
36 |
% |
Stock-based compensation |
|
|
9.1 |
|
|
|
7.1 |
|
|
30 |
% |
|
|
34.4 |
|
|
|
17.9 |
|
|
93 |
% |
Acquisition-related retention |
|
|
1.4 |
|
|
|
— |
|
|
NM |
|
|
|
2.8 |
|
|
|
— |
|
|
NM |
|
Deferred compensation related to earnouts |
|
|
0.5 |
|
|
|
0.6 |
|
|
(18 |
%) |
|
|
1.7 |
|
|
|
2.1 |
|
|
(17 |
%) |
Loss on disposal of assets |
|
|
— |
|
|
|
— |
|
|
0 |
% |
|
|
— |
|
|
|
0.8 |
|
|
(98 |
%) |
Change in fair value of contingent consideration related to earnouts |
|
|
0.6 |
|
|
|
8.0 |
|
|
(92 |
%) |
|
|
6.7 |
|
|
|
18.1 |
|
|
(63 |
%) |
Acquisition-related expenses |
|
|
0.1 |
|
|
|
— |
|
|
NM |
|
|
|
3.5 |
|
|
|
0.1 |
|
|
NM |
|
Interest expense, net |
|
|
0.3 |
|
|
|
0.2 |
|
|
(3 |
%) |
|
|
1.0 |
|
|
|
1.3 |
|
|
(26 |
%) |
Other gains, net |
|
|
— |
|
|
|
(1.5 |
) |
|
NM |
|
|
|
— |
|
|
|
(2.6 |
) |
|
NM |
|
Income tax provision (benefit) |
|
|
(1.3 |
) |
|
|
(0.2 |
) |
|
585 |
% |
|
|
(9.8 |
) |
|
|
4.8 |
|
|
NM |
|
Adjusted EBITDA |
|
$ |
31.0 |
|
|
$ |
13.5 |
|
|
130 |
% |
|
$ |
67.1 |
|
|
$ |
27.1 |
|
|
148 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income (loss) margin |
|
|
6 |
% |
|
|
(8 |
%) |
|
|
|
|
(2 |
%) |
|
|
(11 |
%) |
|
|
||
Adjusted EBITDA margin1 |
|
|
22 |
% |
|
|
14 |
% |
|
|
|
|
12 |
% |
|
|
7 |
% |
|
|
______________ |
||
(1) |
Represents Adjusted EBITDA as a percentage of revenue. |
FINANCIAL OUTLOOK
We are providing guidance for the first quarter of 2023:
-
Revenue is expected in the range of
-$165 ,$170 million 30% year-over-year growth rate at midpoint -
Adjusted EBITDA is expected in the range of
-$17 $19 million
There will be variability in our quarterly margins, but we expect year-over-year increase in our 2023 annual Adjusted EBITDA margin.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements, including, but not limited to, the statements in the section titled “Financial Outlook.” In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following:
- the effect of macroeconomic developments, including but not limited to, inflation, rising interest rates, tightening credit markets and general macroeconomic uncertainty on our business results of operations, financial condition and stock price;
- our expectations regarding our future financial and operating performance, including total revenue, cost of revenue, Adjusted EBITDA and MUUs;
- our ability to grow traffic and engagement on our platform;
- our expected returns on marketing investments and brand campaigns;
- our expectations about consumer demand for the products on our platform;
- our ability to convert users into Registered Users and improve repeat user rates;
- our ability to convert consumers into matches with financial services partners;
- our ability to grow within existing and new verticals;
- our ability to expand geographically;
- our ability to maintain and expand our relationship with our existing financial services partners and to identify new financial services partners;
- our ability to build efficient and scalable technical capabilities to deliver personalized guidance and nudge users;
- our ability to maintain and enhance our brand awareness and consumer trust;
- our ability to generate high quality, engaging consumer resources;
- our ability to adapt to the evolving financial interests of consumers;
- our ability to compete with existing and new competitors in existing and new market verticals;
- our ability to maintain the security and availability of our platform;
- our ability to maintain, protect and enhance our intellectual property;
- our ability to identify, attract and retain highly skilled, diverse personnel;
- our ability to stay in compliance with laws and regulations that currently apply or become applicable to our business;
- the sufficiency of our cash, cash equivalents, and investments to meet our liquidity needs;
- our ability to effectively manage our growth and expand our infrastructure and maintain our corporate culture;
- our ability to successfully identify, manage, and integrate any existing and potential acquisitions; and
- our ability to achieve expected synergies, accretive value and other benefits from completed acquisitions.
You should not rely on forward-looking statements as predictions or guarantees of future events. We have based the forward-looking statements contained in this press release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition and operating results. These forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results or outcomes to be materially different from any future results expressed or implied by these forward-looking statements, including those factors described in filings we make with the
The forward-looking statements made in this press release speak only as of the date hereof. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005810/en/
Investor Relations:
ir@nerdwallet.com
Media Relations:
press@nerdwallet.com
Source:
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