Quinstreet (QNST) FY2024 results: revenue $614 million, up 5.7% on the year

Quinstreet, Inc. (QNST) reported revenue of $614 million for fiscal 2024, the year ended 30 June 2024, up 5.7% on the year before. Net income was -$31 million, and diluted earnings per share $-0.57. The figures are the company's own, from the 10-K it filed with the SEC on 21 August 2024.

Revenue

$614 million

+5.7% on the year

FY2017FY2024

Operating margin

-4.6%

-3.6% a year earlier

FY2017FY2024

Net income

-$31 million

FY2017FY2024

Diluted EPS

-$0.57

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	614	581	582	+5.7%
Cost of revenue	567	532	528	+6.6%
Gross profit	46.2	48.5	53.7	-4.7%
Gross margin	7.5%	8.4%	9.2%
Research and development	30.0	28.9	21.9	+4.0%
Operating income	-28.1	-20.8	-4.7
Operating margin	-4.6%	-3.6%	-0.8%
Interest expense	0.7	0.8	1.1	-13.9%
Pre-tax income	-30.4	-21.4	-5.8
Income tax	0.9	47.5	-0.5	-98.0%
Net income	-31.3	-68.9	-5.2
Net margin	-5.1%	-11.9%	-0.9%
Diluted EPS	-$0.57	-$1.28	-$0.10

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	12.0	11.8	28.7	+1.7%
Capital expenditure	5.3	3.1	2.8	+74.7%
Free cash flow	6.7	8.8	25.8	-23.8%
Free cash flow margin	1.1%	1.5%	4.4%
Cash from investing	-22.7	-15.1	-9.2
Cash from financing	-12.5	-19.5	-33.3
Depreciation and amortisation	24.0	19.2	17.0	+25.1%
Share-based compensation	23.7	18.8	18.5	+26.2%
Buybacks	2.3	5.6	15.3	-59.5%
Diluted shares, weighted	55m	54m	54m	+2.1%
Shares outstanding at period end	55m	54m	53m	+2.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	217	230	286	-5.6%
Debt	0.0	0.0	0.0
Operating lease liabilities	7.9	1.3	3.9	+524.8%
Other liabilities	144	106	130	+35.6%
Total liabilities and equity	369	337	420	+9.3%
Fixed assets	19.9	16.7	9.3	+18.6%
Goodwill	125	121	121	+3.2%
Intangible assets	38.0	38.7	49.7	-1.8%
Cash and equivalents	50.5	73.7	96.4	-31.5%
Receivables	112	67.7	81.4	+65.0%
Other assets	23.4	19.1	61.9	+22.0%
Total assets	369	337	420	+9.3%

10-K for the year ended 30 June 2024, filed 21 August 2024: the filing.