QuinStreet, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>QuinStreet, Inc. has filed its Q3 2024 10-Q report, detailing financial performance and operations for the period ending March 31, 2024.</b>

AI Summary

QUINSTREET, INC (QNST) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. QuinStreet, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of fiscal year 2024. Key dates mentioned include July 1, 2023, to March 31, 2024, for financial reporting periods. The company's fiscal year ends on June 30. The filing includes references to various financial statement line items and accounting standards.

Why It Matters

For investors and stakeholders tracking QUINSTREET, INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, enabling them to assess the company's performance and make informed investment decisions. The detailed financial information, including revenue, expenses, and balance sheet items, is crucial for understanding QuinStreet's current financial health and operational trends.

Risk Assessment

Risk Level: medium — QUINSTREET, INC shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a snapshot of financial health but lacks forward-looking guidance or significant event disclosures that would indicate immediate high risk or opportunity.

Analyst Insight

Monitor future 10-Q filings and earnings calls for specific financial performance trends and management commentary on strategic initiatives.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-09 — Filing Date (Filed As Of Date)
• Q3 — Fiscal Quarter (Filing Values)
• 0630 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• QUINSTREET, INC (company) — Filer name
• 0000950170-24-056704 (other) — Accession Number
• 20240331 (date) — Conformed Period of Report
• 20240509 (date) — Filed As Of Date
• QNST (ticker) — Ticker Symbol
• 950 TOWER LANE, 6TH FLOOR (address) — Business Address
• FOSTER CITY (location) — Business Address City
• CA (location) — Business Address State

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: The company faces risk due to customer concentration, where a significant portion of sales revenue may depend on a limited number of clients.
• Website Trade Domain Names [low — operational]: Risks associated with the ownership and management of website trade domain names could impact the company's online presence and operations.
• Post-Closing Payments Related to Acquisitions [low — financial]: Potential financial implications and risks arising from post-closing payments associated with past acquisitions.
• Fair Value Measurements [low — financial]: The company's financial statements rely on fair value measurements, which involve estimates and assumptions that could be subject to change.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.
• 2023-06-30: Fiscal Year End — Indicates the end of QuinStreet's fiscal year.

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share QNST The Nasdaq Stock Mar

Filing Documents

• qnst-20240331.htm (10-Q) — 2389KB
• qnst-ex31_1.htm (EX-31.1) — 10KB
• qnst-ex31_2.htm (EX-31.2) — 10KB
• qnst-ex32_1.htm (EX-32.1) — 10KB
• 0000950170-24-056704.txt (&nbsp;) — 8773KB
• qnst-20240331.xsd (EX-101.SCH) — 966KB
• qnst-20240331_htm.xml (XML) — 1721KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets at March 31, 2024 and June 30, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the Three and Nine Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 30

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 56

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 56

Other Information

Item 5. Other Information 56

Exhibits

Item 6. Exhibits 57

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

FINANC IAL STATEMENTS

ITEM 1. FINANC IAL STATEMENTS QUINSTREET, INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (In thousands, except share and per share data) (Unaudited) March 31, June 30, 2024 2023 Assets Current assets: Cash and cash equivalents $ 39,602 $ 73,677 Accounts receivable, net of allowances and reserves of $ 3,289 and $ 3,722 as of March 31, 2024 and June 30, 2023, respectively 99,639 67,748 Prepaid expenses and other assets 7,525 9,779 Total current assets 146,766 151,204 Property and equipment, net 20,633 16,749 Operating lease right-of-use assets 10,923 3,536 Goodwill 125,056 121,141 Other intangible assets, net 40,881 38,700 Other assets, noncurrent 4,992 5,825 Total assets $ 349,251 $ 337,155 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 40,621 $ 37,926 Accrued liabilities 58,425 44,010 Deferred revenue 185 9 Other liabilities 9,883 7,875 Total current liabilities 109,114 89,820 Operating lease liabilities, noncurrent 8,260 1,261 Other liabilities, noncurrent 16,913 16,273 Total liabilities 134,287 107,354 Commitments and contingencies (See Note 10) Stockholders' equity: Common stock: $ 0.001 par value; 100,000,000 shares authorized; 55,274,801 and 54,192,928 shares issued and outstanding as of March 31, 2024 and June 30, 2023 55 54 Additional paid-in capital 343,424 329,093 Accumulated other comprehensive loss ( 268 ) ( 266 ) Accumulated deficit ( 128,247 ) ( 99,080 ) Total stockholders' equity 214,964 229,801 Total liabilities and stockholders' equity $ 349,251 $ 337,155 See notes to condensed consolidated financial statements 3 QUINSTREET, INC. CONDENSED CONSOL IDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023

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View this 10-Q filing on SEC EDGAR