QuinStreet Files Q1 Fiscal 2025 10-Q

TL;DR

QuinStreet's Q1 FY25 10-Q is in - financials and operations updated.

AI Summary

QuinStreet, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the first quarter of fiscal year 2025. Key financial data and business segment information are presented, reflecting the company's ongoing activities in the digital marketing and media sector.

Why It Matters

This filing provides investors with the latest financial snapshot of QuinStreet, Inc., crucial for understanding the company's performance and making informed investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the specific financial performance and forward-looking statements within the full report could indicate higher risk.

Key Numbers

• Q1 — Fiscal Quarter (Reporting period is the first quarter of fiscal year 2025.)
• FY25 — Fiscal Year (The reporting period falls within the fiscal year 2025.)

Key Players & Entities

• QUINSTREET, INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241108 (date) — Filing Date
• 950 TOWER LANE, 6TH FLOOR (address) — Business and Mail Address
• FOSTER CITY, CA (location) — Business and Mail City/State
• 650-578-7700 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• qnst-20240930.htm (10-Q) — 1782KB
• qnst-ex31_1.htm (EX-31.1) — 10KB
• qnst-ex31_2.htm (EX-31.2) — 10KB
• qnst-ex32_1.htm (EX-32.1) — 10KB
• 0000950170-24-123979.txt ( ) — 7374KB
• qnst-20240930.xsd (EX-101.SCH) — 936KB
• qnst-20240930_htm.xml (XML) — 1375KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets at September 30, 2024 and June 30, 2024 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7

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 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 52

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 52

Other Information

Item 5. Other Information 52

Exhibits

Item 6. Exhibits 53

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) September 30, June 30, 2024 2024 Assets Current assets: Cash and cash equivalents $ 24,982 $ 50,488 Accounts receivable, net of allowances and reserves of $ 2,569 and $ 2,106 as of September 30, 2024 and June 30, 2024 173,904 111,786 Prepaid expenses and other assets 7,570 6,813 Total current assets 206,456 169,087 Property and equipment, net 18,913 19,858 Operating lease right-of-use assets 9,338 10,440 Goodwill 125,056 125,056 Intangible assets, net 35,526 38,008 Other assets, noncurrent 5,883 6,097 Total assets $ 401,172 $ 368,546 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 60,404 $ 48,204 Accrued liabilities 86,619 68,822 Other liabilities 10,865 9,372 Total current liabilities 157,888 126,398 Operating lease liabilities, noncurrent 7,026 7,879 Other liabilities, noncurrent 16,440 17,444 Total liabilities 181,354 151,721 Commitments and contingencies (See Note 10) Stockholders' equity: Common stock: $ 0.001 par value; 100,000,000 shares authorized; 56,127,603 and 55,473,439 shares issued and outstanding as of September 30, 2024 and June 30, 2024 56 55 Additional paid-in capital 351,807 347,449 Accumulated other comprehensive loss ( 268 ) ( 268 ) Accumulated deficit ( 131,777 ) ( 130,411 ) Total stockholders' equity 219,818 216,825 Total liabilities and stockholders' equity $ 401,172 $ 368,546 See notes to condensed consolidated financial statements 3 QUINSTREET, INC. CONDENSED CONSOL IDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except per share data) (Unaudited) Three Months Ended September 30, 2024 2023 Net revenue $ 279,219 $ 123,923 Cost of

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