Nextdoor Holdings, Inc.

Q2 revenue was $75 million, up 15% year over year. Platform WAU was 22.9 million, up 5% year over year and at an all-time high. GAAP net loss was $2 million, or negative 3% margin, a 21-point year-over-year margin improvement. Adjusted EBITDA was $10 million, or 13% margin, about $12 million better than last year and above prior guidance of $4 million to $6 million. For Q3 2026, management guided to revenue of $76 million to $78 million and adjusted EBITDA of $6.5 million to $8 million. For full-year 2026, the company raised its outlook to low-teens revenue growth and approximately 10% adjusted EBITDA margin.

Nirav Tolia said the quarter validated Nextdoor’s multiyear effort to rebuild the product around healthier community participation rather than one big launch. He emphasized that small product improvements are compounding into better engagement, higher contributor activity, and stronger monetization, especially through content created by neighbors for neighbors. His tone was confident and constructive, with a strong focus on long-term platform quality, AI-assisted discovery, and local trust as the company’s core advantage.

Indrajit Ponnambalam highlighted that Q2 performance was broad-based, with self-serve revenue up 32% year over year and now about 67% of total revenue. He said profitability improved materially, with adjusted EBITDA at $10 million, GAAP net loss at $2 million, and cash flow from operations of $9.6 million in the first six months of 2026 versus $3.3 million in the same period of 2025. He also noted $378 million in cash, cash equivalents and marketable securities, no debt, and continued cost discipline and productivity gains, including annualized revenue per employee up 29% year over year.

Analysts pressed on why WAU improved despite lower brand and performance marketing, and management said the improvement appears organic and durable rather than driven by a meaningful marketing step-up. On AI, management said it is being used both to improve the product experience, such as Ask, and to improve ad targeting and efficiency, but they did not tie it to a single KPI. On monetization, they said there is still runway in display, video, self-serve and lead generation, and reiterated that Nextdoor does not rely on search traffic because its content sits inside a private network.