NERDWALLET, INC.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net income (loss) $24.2m $5.3m ($42.5m) ($10.2m) ($11.8m) $30.4m $48.7m
Depreciation and amortization $9.4m $15.1m $27.1m $37.0m $48.2m $48.4m $46.4m
Deferred taxes $1.4m ($4.6m) $4.4m ($12.6m) ($500k) ($46.1m) $16.0m
Operating lease liabilities ($6.2m) ($7.1m) ($7.3m) ($2.4m) ($3.1m) ($3.4m) ($2.5m)
Stock-based compensation $5.0m $6.4m $17.9m $34.4m $38.8m $37.7m $28.6m
Non-cash lease costs $6.3m $6.8m $7.9m $2.6m $2.8m $2.2m $2.2m
Other losses, net $500k $100k ($2.6m) $1.3m $2.9m $8.6m $1.8m
Accounts receivable ($12.9m) $1.0m ($20.2m) ($18.7m) $10.7m ($27.0m) ($9.4m)
Prepaid expenses and other assets ($700k) ($4.8m) ($9.6m) ($700k) ($4.4m) ($1.8m) ($2.5m)
Mortgage loans held for sale $0 $0 $2.1m ($4.5m)
Accounts payable ($300k) $3.6m ($2.2m) ($5.6m) ($1.8m) $6.6m ($3.6m)
Accrued expenses and other current liabilities $5.1m ($5.3m) $16.6m $5.8m ($2.4m) $12.5m $9.8m
Payment of contingent consideration $0 $0 ($19.0m) ($16.9m) $0 $0
Other liabilities ($1.3m) ($100k) ($900k) ($1.1m) $6.7m $1.6m $600k
Capitalized software development costs ($14.1m) ($17.4m) ($20.7m) ($27.6m) ($28.8m) ($20.7m) ($16.9m)
Purchases of property and equipment ($700k) ($1.3m) ($2.3m) ($4.6m) ($700k) ($600k) ($1.3m)
Business combinations $0 ($36.7m) $0 ($68.1m) $0 ($300k) ($13.1m)
Net borrowing (repayment) on warehouse line of credit $0 $0 ($2.0m) $4.4m
Proceeds from line of credit $0 $5.0m $0 $70.0m $7.5m $0 $0
Payments on line of credit $0 ($10.0m) $0 ($70.0m) ($7.5m) $0 $0
Proceeds from exercises of stock options $1.7m $8.4m $11.0m $7.7m $10.2m $6.3m $1.1m
Tax payments related to net-share settlements on restricted stock units $0 ($400k) ($1.9m) ($600k) ($1.1m) ($2.1m) ($3.5m)
Beginning of year $67.6m $83.4m $167.8m $83.9m $100.4m $66.3m $98.3m
Capitalized software development costs recorded in accounts payable and accrued expenses and other current liabilities $100k $500k $900k $500k $400k $600k
Repurchases of Class A common stock recorded in accrued expenses and other current liabilities $0 $0 $300k $400k
Income tax payments $1.5m $1.2m $300k $4.0m $13.5m $16.0m $15.1m
Cash paid for amounts included in the measurement of lease liabilities $7.2m $7.9m $8.2m $3.1m $3.7m $3.9m $3.0m
Lease liabilities arising from obtaining right-of-use assets $13.7m $0 $7.8m $0 $0 $0 $4.1m
Net cash provided by operating activities $31.4m $15.4m $7.2m $25.0m $72.1m $71.8m $131.6m
Purchases of investments $0 $0 ($8.1m) ($2.0m)
Net cash used in investing activities ($14.8m) ($55.4m) ($23.0m) ($100.3m) ($29.5m) ($29.7m) ($33.3m)
Payment of debt issuance costs $0 $0 ($1.4m) $0 $0
Issuances of Class A common stock under Employee Stock Purchase Plan $0 $0 $4.5m $3.0m $1.4m $2.1m
Repurchases of Class A common stock ($3.1m) ($1.6m) ($14.3m) $0 ($20.0m) ($80.1m) ($70.2m)
Net cash used in financing activities ($1.4m) $55.7m $100.2m ($8.4m) ($26.2m) ($76.5m) ($66.1m)
Effect of exchange rate changes on cash and cash equivalents $0 $100k $0 ($200k) $100k $300k ($200k)
Net increase (decrease) in cash and cash equivalents $15.2m $15.8m $84.4m ($83.9m) $16.5m ($34.1m) $32.0m
Cash paid for interest $1.5m $1.4m $2.5m $1.9m $300k $300k $300k