NXDR · Nextdoor Holdings, Inc.

Nextdoor Holdings, Inc. delivered a standout Q1 2026 with revenue of $62 million, the strongest first quarter in company history, up 14% year-over-year. This acceleration from Q4 2025 was fueled by robust self-serve advertiser demand, which grew 28% year-over-year and comprised 68% of total revenue, alongside a 12% improvement in ARPU from better yields. Platform WAU reached 22.3 million, a 1% year-over-year increase and all-time high, though management noted potential near-term fluctuations. Profitability advanced significantly: GAAP net loss narrowed to $11 million (19% margin) from $22 million (41% margin) prior year, driven by revenue strength and lower operating expenses. Adjusted EBITDA improved to a near-breakeven loss of $0.2 million (0.3% margin) from $9 million loss, gaining 17 percentage points year-over-year through operating leverage and execution discipline. Productivity metrics shone with annualized revenue per FTE up 31% year-over-year, and the company repurchased 17 million shares at $1.69 average in Q1. Balance sheet remains robust with $373 million in cash, cash equivalents, and marketable securities. Guidance signals continued momentum: Q2 revenue $71-73 million (11% y/y midpoint), full-year revenue ~10% growth, and full-year Adjusted EBITDA margin in high single-digits. Concurrently, the board authorized a $100 million open-market repurchase program for Class A common stock through June 2028, underscoring confidence in long-term value amid a trusted neighborhood network moat. CEO Nirav Tolia emphasized the unique verified local graph as irreplaceable in an AI-driven landscape, while CFO Indrajit Ponnambalam highlighted the business model's validation through accelerating growth and profitability path.