QuinStreet, Inc.

Q4 revenue was $373.9 million, up 43% year over year. Adjusted net income was $29 million, or $0.50 per share. Adjusted EBITDA was $41.4 million, up 87% year over year, with an 11.1% margin, up 270 basis points. Financial Services revenue was $232.3 million, up 24%, and Home Services revenue was $141.6 million, up 88%. For full fiscal 2026, revenue rose 18% to $1.3 billion and adjusted EBITDA rose 38% to $112.5 million, an 8.7% margin. The balance sheet ended the quarter with $128 million in cash and equivalents and net debt of $22 million, and the company repurchased $14.6 million of stock in Q4 and $31.4 million for the year. For FY2027, management guided Q1 revenue to $370 million to $380 million and adjusted EBITDA to $38 million to $40 million. Full-year FY2027 guidance is revenue of $1.45 billion to $1.55 billion and adjusted EBITDA of $150 million to $160 million.

Doug Valenti framed the quarter as another record performance, emphasizing that the company is still early in a very large addressable market that he estimated at well over $100 billion per year and growing at double digits. He pointed to strong demand in auto insurance and Home Services, rapid scaling of new products like QRP and 360 Quote, and the role of AI in improving productivity and performance across the business. His tone was upbeat and confident, but he also noted that the fiscal year is early and that more upside could emerge as initiatives mature.

Greg Wong highlighted the financial strength of the quarter: $373.9 million of revenue, $29 million of adjusted net income, $0.50 adjusted EPS, and $41.4 million of adjusted EBITDA at an 11.1% margin. He also pointed to a strong balance sheet, with $128 million in cash and equivalents and net debt of $22 million, plus continued share repurchases of $14.6 million in the quarter. On capital allocation, he said the company will keep prioritizing new product investment, accretive acquisitions, and repurchases at attractive levels. He reiterated guidance for Q1 FY2027 and full-year FY2027, with margin expansion expected to continue.

Analysts pressed management on the mix of growth between Home Services and Financial Services, the durability of auto insurance demand, the progress of HomeBuddy integration, and how much of carrier spending has shifted to performance marketing. Management said both major verticals can grow at strong double digits, but Home Services should grow faster in the first half due to HomeBuddy. On auto, Valenti said growth is being driven mainly by carrier demand and consumer shopping, with carriers still under-indexed in digital and performance; he estimated the industry may be only about 20% of the way through that transition. They also said HomeBuddy integration has delivered client, media, product, and cost synergies, with more to come, and that the company has an active M&A pipeline with at least one or two more deals possible before year-end.