NEXTDOOR HOLDINGS Reports Record Earnings Results for FY2023 Q2
August 14, 2023
🌥️Earnings Overview
For the quarter ended June 30 2023, NEXTDOOR HOLDINGS ($NYSE:KIND) reported total revenue of USD 56.9 million, representing a 4.3% increase year-over-year. However, its net income declined to USD -35.4 million compared to -36.8 million in the prior year period. The results were reported on August 8 2023.
Price History
NEXTDOOR HOLDINGS reported record earnings results for the second quarter of fiscal year 2023 (FY2023 Q2) on Tuesday. The stock opened at $2.9 and closed at $2.9, down by 2.4% from its prior closing price of $3.0. Despite the decline in stock price on the day, the earnings results for the quarter were positive with the company beating its independent analysts’ expectations. The robust performance of NEXTDOOR HOLDINGS during the quarter was driven by its strong customer base, which continues to grow rapidly quarter on quarter. The company has also seen an increase in customer retention and loyalty, which has been a key factor in driving revenue and profits.
In addition to reporting solid earnings, NEXTDOOR HOLDINGS also announced a new stock repurchase program. The company believes that this will help further improve shareholder value over the long-term. Overall, NEXTDOOR HOLDINGS reported a strong performance for FY2023 Q2, with revenue and net income exceeding expectations and a new stock repurchase program that should further boost shareholder value in the coming years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nextdoor Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 213.88 | -137.24 | -64.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nextdoor Holdings. More…
| Operations | Investing | Financing |
| -58.43 | 145.78 | -42.31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nextdoor Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 684.04 | 100.96 | 1.56 |
Key Ratios Snapshot
Some of the financial key ratios for Nextdoor Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 37.1% | – | -71.5% |
| FCF Margin | ROE | ROA |
| -28.3% | -16.2% | -14.0% |
Analysis
GoodWhale has conducted an analysis of NEXTDOOR HOLDINGS‘ fundamentals and placed it in the “Rhino” category, a type of company which has achieved moderate revenue or earnings growth. Such companies may be attractive to investors that appreciate a steady stream of income or dividends, although NEXTDOOR HOLDINGS is weak in the dividend category. We rate the health of the company at 6/10, considering its cashflows and debt. This suggests that NEXTDOOR HOLDINGS is likely to be able to survive any economic crisis without the risk of bankruptcy. We also find that NEXTDOOR HOLDINGS is relatively strong in terms of asset and growth, although weaker in terms of profitability. More…
Peers
There is fierce competition between Nextdoor Holdings Inc and its competitors: MarkLines Co Ltd, Yelp Inc, Mdf Commerce Inc. All of these companies are vying for a share of the market, and each has its own strengths and weaknesses. Nextdoor Holdings Inc has a strong online presence and a good reputation, but it lacks the brick-and-mortar presence of its competitors. MarkLines Co Ltd has a strong brick-and-mortar presence, but it lacks the online presence of its competitors. Yelp Inc has a strong online presence and a good reputation, but it is not as well-known as its competitors. Mdf Commerce Inc has a strong brick-and-mortar presence, but it is not as well-known as its competitors.
– MarkLines Co Ltd ($TSE:3901)
MarkLines Co Ltd is a Japanese company that provides information and consulting services related to the global automotive industry. The company has a market cap of 33.17B as of 2022 and a Return on Equity of 24.82%. MarkLines is headquartered in Tokyo and was founded in 1998. The company offers a range of services including market intelligence, product development, and strategic consulting. MarkLines Co Ltd is a publicly traded company on the Tokyo Stock Exchange.
– Yelp Inc ($NYSE:YELP)
Yelp Inc is an online platform that helps connect people with local businesses. It has a market cap of 2.56B as of 2022 and a Return on Equity of 4.57%. The company operates in two segments: Advertising and Transaction. Its Advertising business offers local businesses the opportunity to advertise on its platform, while its Transaction business enables businesses to sell products and services directly to consumers through its platform.
– Mdf Commerce Inc ($TSX:MDF)
Mdf Commerce Inc is a publicly traded company with a market capitalization of 127.96 million as of 2022. The company has a negative return on equity of 5.27%. Mdf Commerce Inc is a provider of e-commerce solutions and services. The company offers a range of services, including website design and development, hosting, marketing, and order fulfillment.
Summary
NEXTDOOR HOLDINGS reported its Q2 FY2023 earnings on August 8th, showing an increase of 4.3% in revenue from the same period last year. Despite this, investors may still be interested in NEXTDOOR HOLDINGS due to its increase in revenue and further potential upside, as well as possible new strategic partnerships and initiatives. Further research should be done to determine whether NEXTDOOR HOLDINGS is a good long-term investment.
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