QuinStreet, Inc. Files Annual 10-K Report

TL;DR

QNST 10-K filed: FY24 results out, check financials & risks.

AI Summary

QuinStreet, Inc. filed its 10-K for the fiscal year ending June 30, 2024. The filing details the company's financial performance and business operations. Key financial data points and disclosures related to its business segments, risks, and future outlook are presented within the report.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of QuinStreet's financial health and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard business risks and financial disclosures typical for a public company, requiring careful review by investors.

Key Numbers

• FY24 — Fiscal Year End (The period covered by the 10-K filing.)
• 0630 — Fiscal Year End Month/Day (Specific end date for the fiscal year.)

Key Players & Entities

• QUINSTREET, INC (company) — Filer of the 10-K
• 20240630 (date) — Fiscal year end date
• 20240821 (date) — Filing date
• Aquavida (company) — Mentioned in relation to noncompete agreements
• AprilTwoThousandTwentyTwoStockRepurchaseProgram (dollar_amount) — Related to stock repurchase program activity

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share QNST The Nasdaq Stock Mar
• $30.0 million — In fiscal years 2024 and 2023, we spent $30.0 million and $28.9 million on product developmen
• $28.9 million — 24 and 2023, we spent $30.0 million and $28.9 million on product development. Our data cent

Filing Documents

• qnst-20240630.htm (10-K) — 3156KB
• qnst-ex10_41.htm (EX-10.41) — 105KB
• qnst-ex19_1.htm (EX-19.1) — 31KB
• qnst-ex19_2.htm (EX-19.2) — 39KB
• qnst-ex19_3.htm (EX-19.3) — 37KB
• qnst-ex21_1.htm (EX-21.1) — 21KB
• qnst-ex23_1.htm (EX-23.1) — 3KB
• qnst-ex31_1.htm (EX-31.1) — 13KB
• qnst-ex31_2.htm (EX-31.2) — 13KB
• qnst-ex32_1.htm (EX-32.1) — 8KB
• qnst-ex97_1.htm (EX-97.1) — 62KB
• img128030610_0.jpg (GRAPHIC) — 28KB
• 0000950170-24-099495.txt ( ) — 13785KB
• qnst-20240630.xsd (EX-101.SCH) — 1615KB
• qnst-20240630_htm.xml (XML) — 2883KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 34 Item 1C. Cybersecurity 34 Item 2.

Properties

Properties 35 Item 3.

Legal Proceedings

Legal Proceedings 35 Item 4. Mine Safety Disclosures 35 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36 Item 6. [Reserved] 37 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 51 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 52 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 81 Item 9A.

Controls and Procedures

Controls and Procedures 81 Item 9B. Other Information 82 Item 9C. Disclosures Regarding Foreign Jurisdictions that Prevent Inspection 82 PART III. Item 10. Directors, Executive Officers and Corporate Governance 83 Item 11.

Executive Compensation

Executive Compensation 83 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 83 Item 13. Certain Relationships and Related Transactions, and Director Independence 83 Item 14. Principal Accounting Fees and Services 83 PART IV. Item 15. Exhibits, Financial Statement Schedules 84 Item 16. Form 10-K Summary 87

Signatures

Signatures 88 2 PART I CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This report contains forward-looking statements. All statements other than statements of historical facts, including statements regarding our future financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. Terminology such as "believe," "may," "might," "objective," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions is intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, among others, those listed in Part 1, Item 1A. "Risk Factors" of this Annual Report on Form 10-K and elsewhere in this report, such as but not limited to: our still developing industry and relatively new business model and products such as QuinStreet Rating Platform ("QRP") product for insurance agents; changes in the regulatory enforcement or legislative environment; our dependence on the availability and affordability of quality media from third-party publishers and strategic partners; our dependence on Internet search companies to attract Internet visitors; changes in the general economic conditions and market dynamics in the United States, or in the specific markets in which we currently do business; banking institution risks; the impact of broad-based pandemics or public health crises; our ability to accurately forec

B usiness

Item 1. B usiness Our Company We are a leader in performance marketplaces and technologies for the financial services and home services industries. Our approach to proprietary performance marketing technologies allows clients to engage high-intent digital media or traffic from a wide range of device types (e.g., mobile, desktop, tablet), in multiple formats or types of media (e.g., search engines, large and small media properties or websites, email), and in a wide range of cost-per-action, or CPA, forms. These forms of contact are the primary "products" we sell to our clients, and include qualified clicks, leads, calls, applications and customers. We specialize in customer acquisition for clients in high value, information-intensive markets, or "verticals," including financial services and home services. Our clients include some of the world's largest companies and brands in those markets. The majority of our operations and revenue are in North America. We generate revenue by delivering measurable online marketing results to our clients. The benefits to our clients include cost-effective and measurable customer acquisition costs, as well as management of highly targeted but also highly fragmented online media sources and access to our world-class proprietary technologies. We are predominantly paid on a negotiated or market-driven "per click," "per lead," or other "per action" basis that aligns with the customer acquisition cost targets of our clients. We bear the cost of paying Internet search companies, third-party media sources, strategic partners and other online media sources to generate qualified clicks, leads, calls, applications or customers for our clients. Our competitive advantages include our media buying power, proprietary technologies, extensive data and experience in performance marketing, and significant online media market share in the markets or verticals we serve. Our advantage in online media buying is key to our business model and comes f

View Full Filing

View this 10-K filing on SEC EDGAR