QuinStreet, Inc. (NASDAQ:QNST) Q1 2024 Results Conference Call November 1, 2023 5:00 PM ET
Company Participants
Robert Amparo - Senior Director, IR and Finance
Doug Valenti - CEO
Greg Wong - CFO
Conference Call Participants
Jonathan Bass - Stephens Inc.
Jim Goss - Barrington Research
Cal Bartyzal - Craig-Hallum Capital Group
Dan Day - B. Riley Securities
Bruce Goldfarb - Lake Street Capital
Chris Sakai - Singular Research
Operator
Good day, and welcome to QuinStreet’s Fiscal First Quarter 2024 Financial Results Conference Call. Today’s conference is being recorded. Following prepared remarks there will be a question-and-answer session.
At this time, I would like to turn the conference over to Senior Director of Investor Relations and Finance, Robert Amparo. Mr. Amparo, you may begin.
Robert Amparo
Thank you, operator, and thank you everyone for joining us as we report QuinStreet’s fiscal first quarter 2024 financial results. Joining me on the call today are Chief Executive Officer, Doug Valenti; and Chief Financial Officer, Greg Wong.
Before we begin, I would like to remind you that the following discussion will contain forward-looking statements. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to differ materially from those projected by such statements and are not guarantees of future performance. Factors that may cause results to differ from our forward-looking statements are discussed in our recent SEC filings, including our most recent 8-K filing made today and our most recent 10-K filing. Forward-looking statements are based on assumptions as of today, and the Company undertakes no obligation to update these statements.
Today, we will be discussing both GAAP and non-GAAP measures. A reconciliation of GAAP to non-GAAP financial measures is included in today’s earnings press release, which is available on our Investor Relations website at investor.quinstreet.com.
With that, I will turn the call over to Doug Valenti. Please go ahead, sir.
Doug Valenti
Thank you, Rob. And thank you all for joining us.
FY Q1 was another successful quarter. Non-insurance revenue grew 18% year-over-year and represented 79% of total revenue. We continued to invest in important product and growth initiatives across the business, including in staying positioned to take full advantage of the revamp of auto insurance client spending. We did all that while continuing to deliver on our commitment to maintain our strong financial position, once again demonstrating operational and financial excellence and the resilience of our business model.