Quinstreet Financials
This page shows Quinstreet (QNST) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Top-line growth is not translating into contribution as gross margin compression leaves QuinStreet carrying a bigger operating cost base on less gross profit.
From FY2022 to FY2024, gross margin fell from9.2% to7.5% while revenue stayed in roughly the same band, so each dollar of sales carried less money to absorb overhead. That helps explain why operating losses deepened without a top-line break, especially as SG&A and R&D kept rising.
Cash generation still looks better than GAAP earnings: the latest year produced operating cash flow of
Short-term flexibility has tightened as cash fell to
Financial Health Signals
We are recalculating Quinstreet's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Quinstreet scores 4.46, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($860.5M) relative to total liabilities ($151.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Quinstreet passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Quinstreet generates $-0.38 in operating cash flow ($12.0M OCF vs -$31.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Quinstreet earns $-41.3 in operating income for every $1 of interest expense (-$28.1M vs $680K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Quinstreet generated $613.5M in revenue in fiscal year 2024. This represents an increase of 5.7% from the prior year.
Quinstreet's EBITDA was -$4.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 147.3% from the prior year.
Quinstreet reported -$31.3M in net income in fiscal year 2024. This represents an increase of 54.5% from the prior year.
Quinstreet earned $-0.57 per diluted share (EPS) in fiscal year 2024. This represents an increase of 55.5% from the prior year.
Cash & Balance Sheet
Quinstreet generated $6.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 23.8% from the prior year.
Quinstreet held $50.5M in cash against $0 in long-term debt as of fiscal year 2024.
Quinstreet had 56M shares outstanding in fiscal year 2024. This represents an increase of 2.5% from the prior year.
Margins & Returns
Quinstreet's gross margin was 7.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.
Quinstreet's operating margin was -4.6% in fiscal year 2024, reflecting core business profitability. This is down 1.0 percentage points from the prior year.
Quinstreet's net profit margin was -5.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 6.8 percentage points from the prior year.
Quinstreet's ROE was -14.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 15.5 percentage points from the prior year.
Capital Allocation
Quinstreet invested $30.0M in research and development in fiscal year 2024. This represents an increase of 4.0% from the prior year.
Quinstreet spent $2.3M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 59.5% from the prior year.
Quinstreet invested $5.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 74.7% from the prior year.
QNST Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $346.1M+20.3% | $287.8M+0.7% | $285.9M | N/A | $269.8M-4.5% | $282.6M+1.2% | $279.2M+40.8% | $198.3M |
| Cost of Revenue | $304.8M+17.2% | $260.1M+0.5% | $258.9M | N/A | $242.0M-5.4% | $255.8M+2.0% | $250.8M+38.7% | $180.9M |
| Gross Profit | $41.3M+49.1% | $27.7M+2.9% | $26.9M | N/A | $27.9M+4.1% | $26.8M-5.8% | $28.4M+62.9% | $17.4M |
| R&D Expenses | $10.2M+22.9% | $8.3M+1.9% | $8.2M | N/A | $8.8M+1.6% | $8.7M+1.0% | $8.6M+13.6% | $7.6M |
| SG&A Expenses | $12.9M-2.7% | $13.2M+42.7% | $9.3M | N/A | $9.0M-37.6% | $14.3M-14.8% | $16.8M+117.3% | $7.8M |
| Operating Income | $10.3M+723.3% | $1.2M-74.0% | $4.8M | N/A | $4.9M+453.9% | -$1.4M-15.0% | -$1.2M+16.1% | -$1.4M |
| Interest Expense | $2.1M+2902.9% | $70K+2.9% | $68K | N/A | $66K-47.6% | $126K+1.6% | $124K-24.8% | $165K |
| Income Tax | $822K+101.7% | -$48.9M-26685.3% | $184K | N/A | $477K+1160.0% | -$45K+8.2% | -$49K-110.0% | $489K |
| Net Income | $7.4M-85.3% | $50.2M+1007.5% | $4.5M | N/A | $4.4M+385.1% | -$1.5M-13.4% | -$1.4M+36.9% | -$2.2M |
| EPS (Diluted) | $0.13-85.1% | $0.87+987.5% | $0.08 | N/A | $0.08+366.7% | $-0.03-50.0% | $-0.02 | N/A |
QNST Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $704.3M+42.9% | $493.0M+11.4% | $442.6M+2.7% | $431.1M+3.3% | $417.2M+1.9% | $409.6M+2.1% | $401.2M+8.9% | $368.5M |
| Current Assets | $295.2M+10.2% | $268.0M+3.2% | $259.6M+5.8% | $245.5M+7.5% | $228.4M+4.2% | $219.3M+6.2% | $206.5M+22.1% | $169.1M |
| Cash & Equivalents | $102.0M-4.6% | $107.0M+5.6% | $101.3M+0.2% | $101.1M+23.5% | $81.8M+41.5% | $57.8M+131.5% | $25.0M-50.5% | $50.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $184.8M+21.3% | $152.4M+1.6% | $150.0M+10.4% | $135.8M-1.0% | $137.2M-8.7% | $150.4M-13.5% | $173.9M+55.6% | $111.8M |
| Goodwill | $261.8M+109.3% | $125.1M0.0% | $125.1M0.0% | $125.1M0.0% | $125.1M0.0% | $125.1M0.0% | $125.1M0.0% | $125.1M |
| Total Liabilities | $394.0M+98.4% | $198.6M+1.4% | $195.9M+4.7% | $187.1M+2.9% | $181.8M-2.0% | $185.4M+2.2% | $181.4M+19.5% | $151.7M |
| Current Liabilities | $249.2M+40.5% | $177.4M+3.0% | $172.2M+5.6% | $163.0M+4.1% | $156.7M-1.9% | $159.7M+1.1% | $157.9M+24.9% | $126.4M |
| Long-Term Debt | $70.0M | N/A | N/A | $0 | N/A | N/A | N/A | N/A |
| Total Equity | $310.4M+5.4% | $294.4M+19.4% | $246.7M+1.1% | $244.0M+3.6% | $235.5M+5.0% | $224.3M+2.0% | $219.8M+1.4% | $216.8M |
| Retained Earnings | -$63.6M+10.4% | -$70.9M+41.5% | -$121.2M+3.6% | -$125.7M+2.5% | -$128.9M+3.3% | -$133.3M-1.2% | -$131.8M-1.0% | -$130.4M |
QNST Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $36.9M+70.8% | $21.6M+10.3% | $19.6M | N/A | $30.1M-22.1% | $38.7M+382.2% | -$13.7M-182.8% | $16.6M |
| Capital Expenditures | $537K-39.6% | $889K-24.3% | $1.2M | N/A | $639K+43.0% | $447K+2.3% | $437K-62.8% | $1.2M |
| Free Cash Flow | $36.4M+75.5% | $20.7M+12.5% | $18.4M | N/A | $29.5M-22.9% | $38.2M+370.3% | -$14.1M-192.0% | $15.4M |
| Investing Cash Flow | -$107.4M-2995.8% | -$3.5M+15.2% | -$4.1M | N/A | -$3.0M-8.9% | -$2.8M-6.2% | -$2.6M+28.6% | -$3.6M |
| Financing Cash Flow | $65.6M+627.3% | -$12.4M+18.7% | -$15.3M | N/A | -$3.1M-1.3% | -$3.1M+66.7% | -$9.2M-354.4% | -$2.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | -$1K-100.0% | $10.1M+49.0% | $6.7M | N/A | $0 | $0 | $0 | $0 |
QNST Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.9%+2.3pp | 9.6%+0.2pp | 9.4% | N/A | 10.3%+0.9pp | 9.5%-0.7pp | 10.2%+1.4pp | 8.8% |
| Operating Margin | 3.0%+2.5pp | 0.4%-1.3pp | 1.7% | N/A | 1.8%+2.3pp | -0.5%-0.1pp | -0.4%+0.3pp | -0.7% |
| Net Margin | 2.1%-15.3pp | 17.4%+15.9pp | 1.6% | N/A | 1.6%+2.2pp | -0.5%-0.1pp | -0.5%+0.6pp | -1.1% |
| Return on Equity | 2.4%-14.7pp | 17.1%+15.2pp | 1.8% | N/A | 1.9%+2.6pp | -0.7%-0.1pp | -0.6%+0.4pp | -1.0% |
| Return on Assets | 1.1%-9.1pp | 10.2%+9.2pp | 1.0% | N/A | 1.1%+1.4pp | -0.4%-0.0pp | -0.3%+0.3pp | -0.6% |
| Current Ratio | 1.18-0.3 | 1.510.0 | 1.510.0 | 1.51+0.0 | 1.46+0.1 | 1.37+0.1 | 1.31-0.0 | 1.34 |
| Debt-to-Equity | 0.23-0.4 | 0.67-0.1 | 0.79+0.8 | 0.00-0.8 | 0.77-0.1 | 0.830.0 | 0.82+0.1 | 0.70 |
| FCF Margin | 10.5%+3.3pp | 7.2%+0.7pp | 6.5% | N/A | 10.9%-2.6pp | 13.5%+18.6pp | -5.1%-12.8pp | 7.8% |
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Frequently Asked Questions
What is Quinstreet's annual revenue?
Quinstreet (QNST) reported $613.5M in total revenue for fiscal year 2024. This represents a 5.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Quinstreet's revenue growing?
Quinstreet (QNST) revenue grew by 5.7% year-over-year, from $580.6M to $613.5M in fiscal year 2024.
Is Quinstreet profitable?
No, Quinstreet (QNST) reported a net income of -$31.3M in fiscal year 2024, with a net profit margin of -5.1%.
What is Quinstreet's EBITDA?
Quinstreet (QNST) had EBITDA of -$4.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Quinstreet's gross margin?
Quinstreet (QNST) had a gross margin of 7.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Quinstreet's operating margin?
Quinstreet (QNST) had an operating margin of -4.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Quinstreet's net profit margin?
Quinstreet (QNST) had a net profit margin of -5.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Quinstreet's return on equity (ROE)?
Quinstreet (QNST) has a return on equity of -14.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Quinstreet's free cash flow?
Quinstreet (QNST) generated $6.7M in free cash flow during fiscal year 2024. This represents a -23.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Quinstreet's operating cash flow?
Quinstreet (QNST) generated $12.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Quinstreet's total assets?
Quinstreet (QNST) had $368.5M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Quinstreet's capital expenditures?
Quinstreet (QNST) invested $5.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Quinstreet spend on research and development?
Quinstreet (QNST) invested $30.0M in research and development during fiscal year 2024.
What is Quinstreet's current ratio?
Quinstreet (QNST) had a current ratio of 1.34 as of fiscal year 2024, which is considered adequate.
What is Quinstreet's debt-to-equity ratio?
Quinstreet (QNST) had a debt-to-equity ratio of 0.70 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Quinstreet's return on assets (ROA)?
Quinstreet (QNST) had a return on assets of -8.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Quinstreet's Altman Z-Score?
Quinstreet (QNST) has an Altman Z-Score of 4.46, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Quinstreet's Piotroski F-Score?
Quinstreet (QNST) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Quinstreet's earnings high quality?
Quinstreet (QNST) has an earnings quality ratio of -0.38x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Quinstreet cover its interest payments?
Quinstreet (QNST) has an interest coverage ratio of -41.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.