NerdWallet Stock Falls 31% After Q3 Results and Fourth-Quarter Revenue Guidance

NerdWallet (Nasdaq: NRDS) shares fell 31.0% on Friday, Nov. 6, 2026, closing at $7.89 from a previous close of $11.43, while the S&P 500 ETF (SPY) rose 0.31%. Trading volume was about 4.6 times its usual level. The drop followed the company's third-quarter results, which it released after the close on Thursday in an 8-K that attached its earnings press release.

Revenue grew, but profit fell

Third-quarter revenue rose 11% to $239.6 million, with consumer revenue up 12% and SMB revenue up 6% to $25.1 million. Net income fell 43% to $14.9 million, or $0.23 a diluted share, from $26.3 million, or $0.34, a year earlier. Sales and marketing expenses rose 28% to $173.2 million, and income from operations dropped 44% to $19.4 million. Non-GAAP operating income fell 27% to $30.4 million, and adjusted EBITDA fell 26% to $39.8 million.

Fourth-quarter guidance points lower

The company guided fourth-quarter revenue to $191 million to $203 million, which it said is down 13% year over year at the midpoint. It expects fourth-quarter adjusted EBITDA of $19 million to $25 million. For full-year 2026, it set GAAP operating income at $56 million to $62 million, non-GAAP operating income at $85 million to $91 million, and adjusted EBITDA at $127 million to $133 million.

Auto insurance decline offset by loans

Consumer revenue gained $25.0 million from student loans, $13.3 million from personal loans and $8.6 million from deposit accounts. Those gains were partly offset by a $17.4 million decline in auto insurance products, which the company attributed to lower lead volume. Cash and cash equivalents stood at $73.5 million on Sept. 30, down from $98.3 million at the end of 2025. The company also filed a 10-Q on Nov. 5.

No stated reason for the share decline

The press release and the 8-K do not address the share price move.