QuinStreet Inc (NASDAQ:QNST), a leader in performance marketing online, today announced financial results for the first quarter ended September 30, 2015.
For the first quarter, the Company reported total revenue of $72.4 million, an increase of 5% compared to the same quarter last year. Adjusted EBITDA for the quarter was $1.1 million, or 2% of revenue. Adjusted net loss for the first quarter was $0.9 million, or ($0.02) per share, and GAAP net loss was $6.1 million, or ($0.14) per share.
The Company generated $3.2 million in operating cash flow and closed the first quarter with $61 million in cash and $46 million in net cash.
“We extended our year-over-year revenue growth trend in fiscal Q1,” commented Doug Valenti, QuinStreet CEO. “We continued to see strong growth from the new product, market and media initiatives that are revitalizing our business and that are representing an ever-larger share of our mix. Auto Insurance revenue continued to grow at a double-digit pace, despite well-publicized industry headwinds in the quarter. Education revenue benefited from not-for-profit client growth and new media partnerships. Adjusted EBITDA margin came in on plan, reflecting important investments in growth initiatives and new media partnerships.”
“We are reiterating our outlook for approximately 10% revenue growth in fiscal year 2016, with acceleration in the second half of the year as initiatives and partnerships, particularly in the Financial Services client vertical, continue to ramp,” concluded Valenti.
Reconciliations of adjusted net loss and adjusted EBITDA to GAAP net loss are included in the accompanying tables.(Original Source)
Shares of Quinstreet opened today at $5.69 and are currently trading down at $5.40. QNST has a 1-year high of $6.83 and a 1-year low of $4.02. The stock’s 50-day moving average is $5.82 and its 200-day moving average is $5.87.
QuinStreet Inc is engaged in marketing and online media that provides vertically oriented customer acquisition programs for its clients. The Company offers its services to education and financial services industries.