Quinstreet (QNST) FY2022 results: revenue $582 million, up 0.6% on the year

Quinstreet, Inc. (QNST) reported revenue of $582 million for fiscal 2022, the year ended 30 June 2022, up 0.6% on the year before. Net income was -$5 million, and diluted earnings per share $-0.10. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2022.

Revenue

$582 million

+0.6% on the year

FY2015FY2022

Operating margin

-0.8%

2.4% a year earlier

FY2015FY2022

Net income

-$5 million

FY2015FY2022

Diluted EPS

-$0.10

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	582	578	490	+0.6%
Cost of revenue	528	508	438	+4.0%
Gross profit	53.7	70.5	52.5	-23.8%
Gross margin	9.2%	12.2%	10.7%
Research and development	21.9	19.3	14.2	+13.2%
Operating income	-4.7	13.9	6.2
Operating margin	-0.8%	2.4%	1.3%
Interest expense	1.1	1.3	0.7	-17.1%
Pre-tax income	-5.8	29.3	18.7
Income tax	-0.5	5.8	0.6
Effective tax rate	n/a	19.7%	3.1%
Net income	-5.2	23.6	18.1
Net margin	-0.9%	4.1%	3.7%
Diluted EPS	-$0.10	$0.43	$0.34

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	28.7	50.6	47.6	-43.4%
Capital expenditure	2.8	2.0	2.0	+44.3%
Free cash flow	25.8	48.6	45.6	-46.9%
Free cash flow margin	4.4%	8.4%	9.3%
Cash from investing	-9.2	-36.5	8.9
Cash from financing	-33.3	-11.3	-11.6
Depreciation and amortisation	17.0	16.2	11.5	+4.7%
Share-based compensation	18.5	19.6	16.7	-5.7%
Buybacks	15.3	0.0	0.0
Diluted shares, weighted	54m	55m	53m	-1.4%
Shares outstanding at period end	53m	54m	52m	-0.8%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	286	295	256	-3.1%
Debt	0.0	0.0	0.0
Operating lease liabilities	3.9	8.5	8.7	-54.9%
Other liabilities	130	146	93.8	-10.8%
Total liabilities and equity	420	450	358	-6.6%
Fixed assets	9.3	6.8	5.7	+35.9%
Goodwill	121	118	80.7	+2.8%
Intangible assets	49.7	59.2	28.2	-16.0%
Cash and equivalents	96.4	110	108	-12.6%
Receivables	81.4	87.9	64.5	-7.4%
Other assets	61.9	67.4	71.9	-8.2%
Total assets	420	450	358	-6.6%

10-K for the year ended 30 June 2022, filed 22 August 2022: the filing.