Nextdoor Holdings, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, on February 27, 2025. For Q4 2024, revenue increased by 17% year-over-year to $65 million. The company achieved positive Adjusted EBITDA of $3 million, representing a 5% margin and a 30 percentage point improvement year-over-year, and generated $11 million in operating cash flow.
Weekly Active Users (WAU) grew 10% year-over-year to 45.9 million in Q4, with Average Revenue Per Weekly Active User (ARPU) increasing by 7% to $1.42. For the full year 2024, revenue grew 13% year-over-year, and Adjusted EBITDA margin improved by 27 percentage points. The company ended the year with a strong balance sheet, holding $427 million in cash and equivalents and no debt.
Nextdoor repurchased 31 million shares in 2024, reducing its fully diluted share count by 5%. Looking ahead, the company's Q1 2025 revenue outlook reflects initial reductions in ad impression supply due to the 'NEXT' initiative rollout and reduced spending from certain large advertisers shifting towards programmatic ad buying. This is an intentional trade-off to prioritize long-term success.
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