v3.26.1
The Company and Basis of Presentation
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
The Company and Basis of Presentation The Company and Basis of Presentation
The Company—NerdWallet, Inc., a Delaware corporation, was formed on December 29, 2011. NerdWallet, Inc. and its subsidiaries (collectively, the Company) provide trusted guidance about finance through its platform, which connects consumers and small and mid-sized businesses (SMBs) with providers of financial products, and access to regulated financial services offered through our subsidiaries.
Basis of Consolidation and Presentation—The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, the accompanying unaudited interim condensed consolidated financial statements do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements, and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company’s financial position and results of operations for the periods presented. The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain comparative amounts for the three and six months ended June 30, 2025 have been reclassified to conform to the presentation as of and for the three and six months ended June 30, 2026. The results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the results to be expected for the full year or any other future period.
Segments—The Company has one operating segment. The measure of segment assets is presented as total assets in the condensed consolidated balance sheets.
Components of segment costs and expenses, along with a reconciliation to income from operations, are as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in millions)2026202520262025
Revenue$197.3 $186.9 $419.5 $396.1 
Costs and Expenses:
Performance marketing116.1 89.5 237.8 187.1 
Personnel-related expenses1
46.1 42.3 90.4 83.8 
Stock-based compensation1
7.4 9.0 15.0 16.5 
Capitalized internally developed software costs(4.0)(4.7)(8.5)(9.8)
Depreciation and amortization9.3 12.7 19.0 25.3 
Other segment costs and expenses2
15.4 27.4 31.6 81.8 
Total costs and expenses190.3 176.2 385.3 384.7 
Income from Operations
$7.0 $10.7 $34.2 $11.4 
______________
(1)    Gross of capitalized internally developed software costs.
(2)    Primarily includes cost of revenue and non-personnel-related operating expenses (each excluding depreciation and amortization), acquisition-related expenses and retention, and brand marketing.
Other segment items included in consolidated net income (loss) are presented in the condensed consolidated statements of operations, and comprised of other income (expense), net, and income tax provision (benefit).
Sales and Marketing—Components of sales and marketing expenses are as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in millions)2026202520262025
Performance marketing$116.1 $89.5 $237.8 $187.1 
Other marketing
29.3 38.5 56.7 100.6
Total Sales and Marketing
$145.4 $128.0 $294.5 $287.7 
Related Party Transaction—The Company is party to a services agreement with a marketing platform, which was co-founded by a former executive officer of the Company. Total expense to this vendor under the services agreement was $0.9 million and $1.7 million for the three and six months ended June 30, 2026, respectively, which was included in sales and marketing expense in the condensed consolidated statements of income. The amount due to this vendor was $0.7 million as of June 30, 2026, of which $0.4 million was included in accounts payable and $0.3 million in accrued expenses and other current liabilities in the condensed consolidated balance sheet.
Significant Accounting Policies—During the six months ended June 30, 2026, there have been no material changes to the Company’s significant accounting policies as disclosed in Note 1–The Company and its Significant Accounting Policies in the notes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
Recently Adopted Accounting Pronouncement—In July 2025, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2025-05, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASU 2025-05), which provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Accounting Standards Codification 606, Revenue From Contracts with Customers. The practical expedient allows an entity to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. The Company adopted the provisions of ASU 2025-05 as of January 1, 2026, and such adoption did not have an impact on the Company’s financial condition and results of operations within its condensed consolidated financial statements.