Quinstreet (QNST) FY2025 results: revenue $1.1 billion, up 78.3% on the year

Quinstreet, Inc. (QNST) reported revenue of $1.1 billion for fiscal 2025, the year ended 30 June 2025, up 78.3% on the year before. Net income was $5 million, and diluted earnings per share $0.08. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2026.

Revenue

$1.1 billion

+78.3% on the year

FY2018FY2025

Operating margin

0.6%

-4.6% a year earlier

FY2018FY2025

Net income

$5 million

FY2018FY2025

Diluted EPS

$0.08

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	1,094	614	581	+78.3%
Cost of revenue	983	567	532	+73.3%
Gross profit	111	46.2	48.5	+139.7%
Gross margin	10.1%	7.5%	8.4%
Research and development	33.9	30.0	28.9	+12.7%
Operating income	6.2	-28.1	-20.8
Operating margin	0.6%	-4.6%	-3.6%
Interest expense	0.4	0.7	0.8	-41.2%
Pre-tax income	5.6	-30.4	-21.4
Income tax	0.9	0.9	47.5	-1.0%
Effective tax rate	16.4%	n/a	n/a
Net income	4.7	-31.3	-68.9
Net margin	0.4%	-5.1%	-11.9%
Diluted EPS	$0.08	-$0.57	-$1.28

$ 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	FY2025	FY2024	FY2023	On the year
Operating cash flow	85.0	12.0	11.8	+605.9%
Capital expenditure	2.1	5.3	3.1	-61.3%
Free cash flow	82.9	6.7	8.8	+1,139.1%
Free cash flow margin	7.6%	1.1%	1.5%
Cash from investing	-11.4	-22.7	-15.1
Cash from financing	-23.0	-12.5	-19.5
Depreciation and amortisation	24.5	24.0	19.2	+2.3%
Share-based compensation	31.8	23.7	18.8	+34.0%
Buybacks	0.0	2.3	5.6
Diluted shares, weighted	58m	55m	54m	+6.2%
Shares outstanding at period end	57m	55m	54m	+3.0%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	244	217	230	+12.6%
Debt	0.0	0.0	0.0
Operating lease liabilities	7.4	7.9	1.3	-6.3%
Other liabilities	180	144	106	+24.9%
Total liabilities and equity	431	369	337	+17.0%
Fixed assets	16.8	19.9	16.7	-15.3%
Goodwill	125	125	121	0.0%
Intangible assets	28.5	38.0	38.7	-25.1%
Cash and equivalents	101	50.5	73.7	+100.2%
Receivables	136	112	67.7	+21.5%
Other assets	23.9	23.4	19.1	+2.3%
Total assets	431	369	337	+17.0%

10-K for the year ended 30 June 2025, filed 26 August 2026: the filing.