Nextdoor Q1 revenue $50M down 2% YoY; WAU grows 16% to 42.4M

Nextdoor Holdings, Inc.

2023-Q1 EPS reported -$0.09 revenue$49,771,000

Q1 revenue $50M, down 2% YoY; net loss $34M (68% margin) vs $33M loss a year ago.
Adjusted EBITDA loss $22M (44% margin); Q2 revenue guidance $53-54M, adj. EBITDA loss $23-24M.
Weekly Active Users 42.4M, up 16% YoY and 6% QoQ; ARPU $1.17 declined 16% YoY.
Cash and investments $575M; operating cash used $14M in Q1 vs $6M a year ago.
Management sees improving growth trends; expects to return to full-year revenue growth.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nextdoor Holdings, Inc. reported financial results for first quarter ended March 31, 2023.

Period: first quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 9, 2023, Nextdoor Holdings, Inc. (the “Company”) issued a letter to shareholders and press release (together, the “Letter and Press Release”) announcing its financial results for the first quarter ended March 31, 2023.

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Nextdoor Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001846069-23-000027

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