\nNextdoor Holdings, Inc. (NYSE: KIND) today announced results for the first quarter ended March 31, 2023.<\/p>\n
\n“We started 2023 with a strong quarter, seeing meaningful progress across our business. Weekly Active Users grew 16% year-over-year and 6% sequentially to 42 million, highlighting momentum from our ongoing investments in AI to drive engagement. Revenue of $50 million came in 7% above the midpoint of our guidance range and demonstrated improvement through the quarter,” said Nextdoor CEO Sarah Friar. “Utility is at the core of Nextdoor, and our focus for the year is growing our base of neighbors and organizations, deepening engagement, and advancing the capabilities of our ad platform for businesses of all sizes. We believe these efforts will enable us to return to revenue growth and adjusted EBITDA margin improvement in 2023.”<\/p>\n
\nNextdoor’s highlighted metrics for the quarter ended March 31, 2023, include:<\/p>\n
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- \nTotal Weekly Active Users (WAU) of 42.4 million increased 16% year-over-year.<\/p>\n<\/li>\n
- \nRevenue of $49.8 million decreased 2% year-over-year.<\/p>\n<\/li>\n
- \nNet loss was $33.7 million, compared to $32.9 million in the year-ago period.<\/p>\n<\/li>\n
- \nAdjusted EBITDA loss was $21.7 million, compared to $19.9 million in the year-ago period.<\/p>\n<\/li>\n
- \nCash, cash equivalents, and marketable securities were $574.8 million as of March 31, 2023.<\/p>\n<\/li>\n<\/ul>\n
\nFor more detailed information on our operating and financial results for the first quarter ended March 31, 2023, as well as our outlook for Q2 and fiscal year 2023, please reference our Shareholder Letter posted to our Investor Relations website located at investors.nextdoor.com<\/a>.<\/p>\n
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