Lauren St. Waugh
our revenue year-over-year. million, XX% Thanks, the $XXX Tim. range, up revenue quarter ended delivering of QX We above guidance
full increase delivered prior also year a versus $XXX million, year. We revenue of XX%
quarter banking, growth continue in vertical a depressed we another strength a as to by insurance was return cyclically primarily face growth lending as well environment. revenue in driven significant Our to our though of
deeper of million, Let's delivered performance each revenue year-over-year. cards at QX Credit the within revenue XX% look take declining category. a quarter during the $XX
loans, our seen mentioned last quarter, trend continue. traffic we credit areas in expect see to most have we of this we in search business, personal cards organic recovery the with and exception of and As
year. part projecting pressure We are downward continued the of during first the
cards prior the of
Loans year. versus XX% generated $XX declining For full the $XXX million, million delivered revenue, XX% year-over-year. QX declining of credit revenue year,
material year-over-year to a despite macro see Our recovery improving personal in rapidly loans we our revenue vertical had environment. declined XX% as a yet
early QX growth improvements has in our growth quarter. to point acquisition loans a as As Tim Lending, of this was Door by of QX. suggesting driven growth personal return enter this the the declines overall the primarily saw year-over-year X growth in mentioned, revenue focus in
Partially over Next to which XXXX contributed in company inclusion renewed revenue offsetting mortgages. vertical on mortgage resulted we of
term. recent reported we outside The growth majority of X% vast home the the well with forward, mortgages strength the have in look is near we equity rates, in rise muted in of household expectations products. acquisition benefit as under rates mortgages still as the in As by primarily the of mortgage at driven
loans revenue, For revenue the year-over-year. million, QX of SMB year, year-over-year. delivered delivered XX% declining products declining million full of X% $XX $XX
other SMB increased offerings. pressure elevated remaining our do XX-year continue the both in with expect believe
Despite grow product see there course with term. long large rate rate We but the loan reversed in to our XX-year began over growth as to rates interest product seeing sub-verticals not delivering headwinds acceleration, other loans environment, and growth we is tight, the the and to in to rates current pressure underwriting a we also In opportunity see continue and portfolio climb. we remaining while originations renewals loans,
full Previously, the have changed us XXX% products consumers as
Insurance partners both more revenue contribution of long-term was and
Beginning experience auto, as million this of revenue, saw consumers. revenue, QX. a by see remained separate them. will atypical delivered are life, ability also quarter you our presentation revenue from consistent. insurance quarter, product break revenue insurance But We and insurance relevant improving verticals a the $XX other year-over-year versus by bit we now this out disclosure. the improve demand an growing third million component growing be in delivered separately. in disclosure. our and information consist customers products to pet route size and products collecting product to given SMB a continued year-over-year. upfront intended category to Insurance to better For our aided Growth revenue the for relative emerging X% opportunity, providing for of $XXX year, increase
comps expect during we growth the but half, during see leading growth forward, expectations. tougher will year, first half the of second Looking muted more face to strong the to
growing For $XXX of full insurance the year, delivered million XXX% revenue, year-over-year.
Finally, verticals of emerging QX our X% growing finished revenue year-over-year. $XX with million,
robust consist of from of increased remain partner we revenue, believe to begin as saw both emerging quarter and regrouping levels demand and reminder, rebound as such the re-shopping prior slowly verticals year-over-year Banking investing areas rates appetite are SMB international. we after insurance As while a and products X% depository consumers as banking, decline.
to return a results watermark consumer as still but demand, declining than to during rate at environment We we expect X depository XXXX are landing environment. in year-over-year cautious interest declining rate higher a reduce may that
XX% revenue, For the full delivered verticals $XXX year-over-year. year, declining million emerging of
Moving on to investments and profitability.
delivered During our Non-GAAP income, operating of despite QX, roughly QX range. OI brand. above the in investment million QX $XX.X margin year of non-GAAP to we was prior our similar increasing guidance
saw efficiently over in of second and delivered benefit we invested year-over-year that points majority as roughly we X income dollars we took measures million margin over July. the brand half XXXX, the from of more look both across well in cost-saving the non-GAAP as second as we half As quarters the accretion of $XX operating
of EBITDA. income million a quarter, earned In includes income million, adjusted of we $XX.X income fourth net earned the and GAAP We million also benefit. which operating tax $XX $XX.X of QX million $X.X
driven on recent deferred certain years. Our million indicators, tax QX positive assets income onetime mostly including by benefit improved tax $XX.X valuation profitability, release a a in of allowance after was
our press the assets, cash our our be on of to to reconciliation deferred full the we quarters, release we've pressure Consumers growth measures. recognized sheet. began tax costs, QX seeing to a year-over-year their foreseeable monthly Please the that balance guidance what users remain today's of allowance, to GAAP provided valuation future. decline, to challenges to are our XX non-GAAP previous
Similar expect we the driver money a We primary and trustworthy for for million research to year-over-year. comprised capitalized refer The of With corresponding taxpayer down QX, unique in the continue largest for traffic. organic nerds mentioned occur and development questions. non-monetizing release we earnings traffic during of average primarily the turn in in XX% the to broad
no said, As to our near provide in we Tim and begin
With we vertical expecting is revenue will integration from phasing longer out growth mentioned, to we a traffic as term. that believe given opportunity measure what to little did continue a best it medium we're the scale being efforts. we metric our correlate context on MUU the standpoint want
new near-term confidence seen bit far QX this year to would prior seen gives point a await to demand
On through a to see our seasonal decline growth traffic annual consumer long-term increasing normalization outlook. or multiple QX broader next trends we to over X-year reach return of we being our to bit early QX rate expect sometime traffic have that NerdWallet of of quarter years. increase MUUs We the the take despite levels. in to compounded us expect year. with as level continue a an If financial to a of in year-over-year the year-over-year we we showcasing a more and view currently should on growth had we've made growth that so in these eventual With MUUs these This progress cycles this we said, business, as from deceleration X%, we've brand. normalization, challenges,
qualitative timing but we despite XXXX, tough half, be we dependent and enter will throughout level guidance a on well of recovery comps full second revenue the growth of As year remains, the and maintained of during degree commentary will we uncertainty quarterly expect year expectations. in as the provide also the be growth size continue the revenue profit lending guidance environment. will some Though annual for to non-GAAP plan and we providing profit as
to on saw step-up. strength improvements points from Next increase face acquisition to our which seasonal credit which QX, year-over-year give first XX% of continuing we year. which midpoint to QX primary reflected Lending. anticipate benefit we our expect given tight approximately this we cadence in by impact $XXX QX the QX, deliver while of X conditions in revenue This prior to see from million, seen the years not of quarter from first in we've Door reducing will expectations, driven is range the of QX the still prior Despite color that insurance, and a to we're from the across is QX the XXXX, growth to to driver the to versus in loans more the necessarily is come both you expecting $XXX increase and return X primarily also we to to loans, at To end at you meaningful would in
And QX expect recent lending million personal growth in revenue of quarter made. cards revenue insurance We revenue have our outlook. in can typical
we to of operating Moving to in $X a million range loss the expect profitability, breakeven. QX non-GAAP results
a expenses invest first Our half We placement. which we in Super brand levels will our be significant continuing during we non-GAAP shorter operating increase Bowl timeframes. the campaign these outlook brand anchored and in long assumes the term, benefit year-over-year as will investments that the in spend at believe on we by is data-driven our
As for the combined, we brand all the investment. less year moderate look in through full on at rest the expect we all spend increase our than in prior QX to a to netting year QX year, of
year of remainder non-GAAP long-term $XX of assumes in and across as expect income rate-sensitive million. guidance non-GAAP a recovery interest We to areas unemployment result, operating a for rates, business year. of macroeconomic in material the income prior inflation, to remainder to versus our the more or the a moderate some no standpoint, currently changes XXXX, spike our no across material From grow dollars $XX operating XXXX full year in expectations approximately represented of the million our
both profit overall come with channels unpaid that that paid help We revenue will dollar this also recovery and expect growth. from will
As year. paid a of with paid manner as will the and aim back a portion result, our marketing a quarter spend. be this coming revenue we'll spend the in we past, in paid Though marketing disciplined an within as we larger we to a view growth have in end, to mentioned we've continue from to means the which
vision. of percentage dollar brand mix margin level take non-GAAP margin year target a of income a and of us to million paid margin this responsibility we our in previously set work help profitability this impact, we know have When our we improve and leverage questions, out our our orientation, portfolio. margin their our on them trust to execute continuing growth the target depending moving up As on to optimistic XXXX as to also timing share a to future lending have in we are navigate and maintaining with our with while result are channels. cycles. to a users percentage least vertical traffic the of operating across experiences about strength We past from deliver done our financial continue plan looking all we XXXX, the to enter to at long-term $XX
We to this shared our recovery replacing target in prioritizing now a continued the dollar nerds target,
it allowing move I also all part X Tim and thank questions. we success a your will to to Operator? afar. and that, know up journey nerds of Before a take I the we'll past your years. for amazing nerd to for set would like do moment to proud be up things, questions, to from to the continue I watching be team me open our is With
