QuinStreet Reports 1st Quarter Fiscal 2023 Results.

FOSTER CITY, Calif: QuinStreet, Inc. (Nasdaq: QNST), a leader in performance marketplaces and technologies for the financial services and home services industries, today announced financial results for the fiscal first quarter ended September 30, 2022.

For the fiscal first quarter, the Company reported revenue of $143.6 million.

GAAP net loss for the fiscal first quarter was $4.5 million, or ($0.08) per diluted share. Adjusted net income was $2.5 million, or $0.05 per diluted share.

Adjusted EBITDA for the fiscal first quarter was $4.8 million.

In the fiscal first quarter of 2023, the Company generated $5.7 million in operating cash flow and closed the quarter with $88.4 million in cash and equivalents and no bank debt.

"The September quarter was a good start to our fiscal year 2023. We again delivered good results in a complex environment, and we expect to continue to do so," commented Doug Valenti, CEO of QuinStreet. "Strong performance in the Home Services and Credit-driven client verticals largely offset Auto Insurance. The good financial results in the quarter reflected the strength and resilience of our business model and footprint, and excellent execution across the Company. We also continued to make great progress against our enormous market opportunity. Our positioning and capabilities have never been better.

"Looking ahead, we expect the trends of the past couple of quarters to continue in the December quarter, our fiscal Q2. Strength in Home Services and Credit-driven...