QuinStreet, Inc. (NASDAQ:QNST) Q4 2024 Earnings Conference Call August 9, 2024 5:00 PM ET
Company Participants
Robert Amparo – Senior Director-Investor Relations and Finance
Doug Valenti – Chief Executive Officer
Greg Wong – Chief Financial Officer
Conference Call Participants
John Campbell – Stephens
Zach Cummins – B. Riley Securities
Jason Kreyer – Craig-Hallum
James Goss – Barrington Research
Chris Sakai – Singular Research
Operator
Good day, and welcome to QuinStreet’s Fiscal Fourth Quarter and Full Year 2024 Financial Results Conference Call. Today’s conference is being recorded. [Operator Instructions]
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 fourth quarter and full year 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-Q 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. Welcome, everyone. The broad-based re-ramp of Auto Insurance revenue accelerated in fiscal Q4, with revenue growing over 200% year-over-year. We also grew revenue 13% in non-insurance Financial Services client verticals and 12% in Home Services. Overall, total company revenue grew 52% year-over-year to a record $198 million.
Adjusted EBITDA jumped about 500% year-over-year in the quarter to over $11 million. Our balance sheet also strengthened. We now have over $50 million in cash and no bank debt.
Looking ahead, our expectations for Auto Insurance remain strongly and confidently positive. Carriers continue to report attractive financial results and are still ramping their spend. They have not yet reached previous peak product or geo footprints. Also, re-expanding and reoptimizing media supply to best meet the extraordinary demand in Auto Insurance should be a tailwind going forward, especially with consumer shopping continuing at or near peak levels. Perhaps most importantly, Auto Insurance trends should continue up and to the right as the relentless shift to digital performance marketing has returned as the dominant theme driving long-term channel and market growth. We are also confident in continued progress and performance in our other client verticals. Overall, we expect strong revenue growth and margin expansion in fiscal Q1 and in full fiscal year 2025, which began on July 1.