Nextdoor Announces Leadership Transition and Reports Preliminary Q4 2023 Financial Results
-
Nirav Tolia to be appointed Chief Executive Officer, President and Chairperson of the Board -
Sarah Friar to step down as Chief Executive Officer, President and Chairperson of the Board -
Announces Q4 WAU of 41.8M and Preliminary Unaudited Q4 Revenue of
$56M -
Board approves a
$150M increase to existing share repurchase authorization -
Company will report full Q4 2023 results as planned on
Tuesday, February 27, 2024
“Our Q4 results demonstrate renewed strength across all our key metrics. While there is never a perfect time for a transition, I feel the time is now right to put the company back in Nirav’s hands,” said
“I’m delighted to return to
The Company also provided the following preliminary unaudited fourth quarter 2023 financial results and supplemental details:
- WAU of 41.8M, an increase of 5% year-over-year and 3% quarter-over-quarter;
-
Revenue of
$56 million , exceeding its previously provided guidance range of$50 million to$52 million ; and -
Cash, cash equivalents, and marketable securities of
$531 million as ofDecember 31, 2023 .
Additionally, Nextdoor’s Board of Directors has authorized a
About
Safe Harbor Statement
This press release includes forward-looking statements, which are statements other than statements of historical facts and statements in the future tense. These statements include, but are not limited to, statements regarding the management transition plan and our preliminary financial and operating results for the fourth quarter of 2023.
Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date of this press release, and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors, including: our ability to scale our business and monetization efforts; our ability to expand business operations abroad; our limited operating history; risks associated with managing our growth; our ability to achieve and maintain profitability in the future; the effects of the highly competitive market in which we operate; the impact of macroeconomic conditions on our business; our ability to attract new and retain existing customers and users, or renew and expand our relationships with them; our ability to anticipate and satisfy customer preferences; market acceptance of our platform; our ability to successfully develop and timely introduce new products and services; our ability to achieve our objectives of strategic and operational initiatives; cybersecurity risks to our various systems and software; the impact of privacy and data security laws; and other general market, political, economic, and business conditions.
Additional risks and uncertainties that could affect our financial results and business are more fully described in our Quarterly Report on Form 10-Q for the nine months ended
All forward-looking statements contained herein are based on information available to us as of the date hereof and you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law. Undue reliance should not be placed on the forward-looking statements in this press release.
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Nextdoor Media Relations:
press@nextdoor.com
Nextdoor Investor Relations:
ir@nextdoor.com
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