NerdWallet, Inc.
- Open
- 10.14
- Day high
- 10.33
- Day low
- 9.89
- Prev close
- 9.98
- Volume
- 536K
- Mkt cap
- $642M
- P/E (TTM)
- 11.0
- EPS (TTM)
- $0.90
- P/B
- 2.0
- P/S
- 0.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$35.7M over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions accumulating (13F)
NerdWallet, Inc. (NRDS) is a Financial Services company listed on NASDAQ. The stock is down 0% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
NerdWallet, Inc. (NRDS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NRDS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $0.09 | $0.07 | -25.1% | $197M | +1.0% |
| May 6, 2026 | $0.25 | $0.29 | +16.0% | $222M | -2.4% |
| Feb 25, 2026 | $0.17 | $0.19 | +11.1% | $225M | -0.7% |
| Nov 6, 2025 | $0.20 | $0.34 | +70.0% | $215M | +1.8% |
| Aug 7, 2025 | $0.11 | $0.11 | +0.0% | $187M | -6.1% |
| Feb 19, 2025 | $0.01 | $0.01 | +0.0% | $184M | +9.2% |
| Jul 31, 2024 | $-0.06 | $-0.12 | -100.0% | $151M | +0.5% |
| Apr 25, 2024 | $0.01 | $0.01 | +13.3% | $162M | +7.5% |
| Feb 14, 2024 | $0.11 | $-0.03 | -127.3% | $134M | -4.6% |
| Oct 26, 2023 | $-0.07 | $-0.01 | +85.7% | $153M | +4.2% |
| Aug 2, 2023 | $-0.03 | $-0.14 | -320.0% | $143M | +3.0% |
| May 2, 2023 | $-0.05 | $0.02 | +140.0% | $170M | +1.1% |
NRDS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 30, 2026 | Topline Capital Management, LLCother: See Explanation in Footnotes | Sell | 587,835 | $9.22 |
| Jun 30, 2026 | Topline Capital Management, LLCother: See Explanation in Footnotes | Sell | 919,153 | $8.95 |
| Jun 30, 2026 | Topline Capital Partners, LP10 percent owner | Sell | 454,872 | $9.27 |
| Jun 30, 2026 | Topline Capital Partners, LP10 percent owner | Sell | 587,835 | $9.22 |
| Jun 30, 2026 | Topline Capital Partners, LP10 percent owner | Sell | 919,153 | $8.95 |
| Jun 30, 2026 | Topline Capital Management, LLCother: See Explanation in Footnotes | Sell | 454,872 | $9.27 |
| Jun 3, 2026 | Mischner Sam Brianofficer: Chief Revenue Officer | Tax | 1,572 | $8.75 |
| May 26, 2026 | Laube Lynne Mariedirector | Grant | 19,494 | — |
| May 26, 2026 | Chia Teresadirector | Grant | 19,764 | — |
| May 26, 2026 | Chia Teresadirector | Grant | 19,710 | — |
| May 26, 2026 | MCBRIDE KENNETH THOMASdirector | Grant | 19,494 | — |
| May 26, 2026 | Ling Anthonydirector | Grant | 19,494 | — |
| May 21, 2026 | Ling Anthonydirector | Grant | 17,946 | — |
| Mar 20, 2026 | Tatum Nicholasofficer: Chief Accounting Officer | Grant | 28,517 | — |
| Mar 20, 2026 | Lee Jun Hyungofficer: Chief Financial Officer | Grant | 128,326 | — |
Source: NRDS SEC Form 4 filings, latest Jun 30, 2026. For informational purposes only — not investment advice.
See the full NRDS insider & 13F page →NerdWallet, Inc. company profile
Overview
NerdWallet, Inc. (NASDAQ:NRDS) is a San Francisco-based financial technology company founded in 2009 that operates a digital platform providing consumer-driven personal finance advice. The company went public in November 2021 and has evolved from a simple financial comparison website into a comprehensive financial guidance platform serving consumers in the United States, United Kingdom, and Canada. NerdWallet connects individuals and small-to-medium businesses with financial product providers through educational content, comparison tools, and marketplace services.
Business
NerdWallet operates in the financial technology sector, specifically within the financial comparison and lead generation industry. The company's core business revolves around helping consumers make informed financial decisions by providing educational content, comparison tools, and connecting them with appropriate financial products and services. The platform's primary offerings span multiple financial verticals. Credit Cards represents one of the foundational segments, generating approximately 17-25% of total revenue, where users can compare credit card offers and apply through NerdWallet's platform. The Loans vertical, accounting for roughly 10-15% of revenue, helps consumers find personal loans, mortgages, and other lending products. Small and Medium Business (SMB) Products comprises about 12-18% of revenue, offering business credit cards, loans, and financial services tailored for entrepreneurs and small business owners. The fastest-growing segment is Insurance, which has experienced explosive growth and now represents approximately 35-40% of total revenue, primarily driven by auto insurance comparisons and recommendations. Emerging Verticals, including banking products like savings accounts, checking accounts, and investment services, contribute roughly 15-20% of revenue. The company has also expanded into adjacent areas such as tax preparation services and subscription-based premium content through NerdWallet+. NerdWallet's platform functions as a financial marketplace where consumers can access educational articles, use calculators and comparison tools, and ultimately connect with financial service providers. The company has been investing heavily in vertical integration, acquiring companies like Next Door Lending (mortgage brokerage) and developing proprietary financial products to capture more value from the customer relationship beyond simple lead generation.
Revenue model
NerdWallet operates primarily on a lead generation and affiliate marketing business model. The company earns revenue when consumers who visit their platform ultimately sign up for or purchase financial products from partner institutions. When a user applies for a credit card, takes out a loan, purchases insurance, or opens a bank account through NerdWallet's platform, the company receives a commission or referral fee from the financial service provider. The revenue structure varies by vertical. In credit cards and loans, NerdWallet typically earns a one-time commission when a consumer is approved and activates a product. For insurance, the company often receives ongoing commissions as long as the customer maintains their policy. Banking products usually generate revenue through account opening bonuses and ongoing relationship fees. The SMB segment operates similarly, with commissions from business financial product sign-ups. Several factors significantly impact NerdWallet's margins and revenue potential. Interest rate environments heavily influence demand across verticals - rising rates boost banking product interest but can dampen loan demand, while credit card activity may fluctuate with economic conditions. Search engine algorithm changes pose ongoing risks, as the company relies heavily on organic search traffic from Google and other platforms. Recent AI-powered search features have created uncertainty around traffic patterns. Regulatory changes in financial services can affect partner relationships and commission structures. Competition intensity from other comparison sites, direct-to-consumer marketing by financial institutions, and emerging fintech platforms continuously pressures margins. Consumer credit health and economic conditions directly impact approval rates and partner willingness to pay for leads. When economic uncertainty rises, financial institutions typically reduce marketing spend and tighten credit standards, reducing both lead volume and commission rates. Conversely, improving economic conditions and increased competition among financial providers can drive up commission rates and lead demand.
Competitive moat
NerdWallet's competitive moat is moderate but faces significant challenges in an increasingly competitive landscape. The company's primary advantages stem from its brand recognition and trust in personal finance guidance, built over more than a decade of providing educational content and comparison tools. This brand equity translates into strong organic search rankings and direct traffic, creating a self-reinforcing cycle where higher traffic volumes attract more financial partners and better commission rates. The company's scale and data advantages provide some defensive characteristics. With over 26 million registered users and extensive transaction history, NerdWallet can offer increasingly personalized recommendations and maintain higher conversion rates than smaller competitors. The registered user base creates opportunities for repeat engagement and cross-selling across multiple financial verticals, reducing customer acquisition costs over time. However, NerdWallet's moat faces several vulnerabilities. The company operates in a highly competitive lead generation market with low barriers to entry, where competitors like Credit Karma (owned by Intuit), Bankrate, and numerous specialized comparison sites compete for the same audience. The rise of AI-powered search and direct-to-consumer marketing by financial institutions threatens to disintermediate traditional comparison platforms. Search engine dependency represents a critical weakness, as algorithm changes can dramatically impact traffic and revenue. The company's heavy reliance on Google's organic search results makes it vulnerable to shifts in search behavior and platform policies. Additionally, the commoditized nature of financial product comparison limits pricing power, as consumers can easily switch between platforms. The company's vertical integration strategy through acquisitions like Next Door Lending and proprietary products like NerdUp credit card represents an attempt to strengthen the moat by capturing more value per customer relationship. However, these efforts are still nascent and face competition from established financial institutions with deeper resources and regulatory expertise.
Risks & safety
NerdWallet maintains a relatively strong financial position with moderate margin of safety considerations. • Liquidity and Solvency: Strong cash position with $92.2 million in cash and short-term investments as of Q1 2025. Current ratio of 2.68 indicates solid short-term liquidity. Minimal debt with debt-to-equity ratio near zero, providing financial flexibility. • Cash Generation: Positive free cash flow of $22.1 million in Q1 2025 and $71.2 million for full year 2024, demonstrating the business model's cash-generative nature. Operating cash flow remains consistently positive. • Valuation Metrics: Trading at reasonable multiples with EV/EBITDA of 10.3x and price-to-book ratio of 1.81. However, profitability remains modest with minimal net income margins. • Revenue Concentration Risk: Heavy dependence on organic search traffic and Google's algorithm changes creates operational risk. Insurance vertical's rapid growth (246% YoY) may not be sustainable long-term. • Market Position: Operating in a competitive, low-barrier-to-entry market with potential for margin compression. Economic sensitivity affects partner commission rates and consumer demand for financial products.
Recent development
Over the past few years, NerdWallet has undergone significant strategic transformation focused on three key growth pillars: Land & Expand, Vertical Integration, and Registration & Data-Driven Engagement. The company has shifted away from purely focusing on Monthly Unique Users (MUUs) toward building deeper, more valuable customer relationships. Vertical Integration has become a central strategy, with the company acquiring Next Door Lending, a mortgage brokerage, to provide end-to-end mortgage services rather than just lead generation. NerdWallet also launched proprietary financial products including the NerdUp secured credit card and partnered with Column Tax to offer tax preparation services. These moves represent a shift from pure marketplace model toward capturing more value from customer relationships. Product Innovation and Expansion includes the launch of NerdWallet+, a paid subscription membership offering premium financial guidance and tools. The company introduced AI-enhanced features like NerdWallet Coach for financial planning and an insurance assistant tool. International expansion accelerated with marketplace launches in Australia and Canada, diversifying geographic revenue sources. Content and Engagement Strategy has evolved significantly, with major investments in brand marketing including a Super Bowl advertisement campaign. The company scaled its Smart Money Podcast to 250,000 monthly downloads and launched specialized content like TravelNerd newsletter and Smart Travel podcast. The registered user base has grown to over 26 million, enabling more personalized experiences and direct marketing capabilities. Operational Efficiency Initiatives included workforce reductions generating $30 million in annualized cost savings while maintaining investment in high-growth areas like insurance. The company has become more disciplined about performance marketing spend, aiming for in-quarter profitability on paid acquisition channels.
NRDS company profile · for informational purposes only — not investment advice.
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