Nextdoor Reports Fourth Quarter and Full Year 2025 Results

Key Terms

gaap financial

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

adjusted ebitda financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-gaap financial measures financial

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

stock-based compensation financial

Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.

depreciation and amortization financial

Depreciation and amortization are accounting methods that spread the cost of long-term assets over the years they help generate revenue: depreciation applies to physical items like equipment, while amortization applies to intangible items like patents or software. Investors watch these charges because they reduce reported profit without using cash right away, so comparing them to cash flow helps reveal whether earnings come from real business performance or just accounting allocation — like spreading the price of a car or a license over many years.

interest income financial

Interest income is the money a company or investor earns from lending funds or holding interest-bearing assets like bonds, savings, or loans—think of it as the ‘rent’ paid for using someone’s money. It matters to investors because it contributes to a firm’s profits and cash flow, and it can rise or fall with interest rates, revealing sensitivity to market conditions and affecting overall financial health.

restructuring charges financial

Restructuring charges are costs that a company pays when it changes how it operates, like closing factories or laying off employees. These expenses are often one-time and happen to help the company become more efficient in the long run. They matter because they can affect the company's profits and how investors see its future prospects.

regulation fd regulatory

Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.

• Q4 revenue of $69 million, +7% year-over-year
• Q4 Platform WAU of 21.0 million, decreased 5% year-over-year
• Q4 GAAP net loss of $4 million; Adjusted EBITDA of $8 million
• Full-year 2025 GAAP net loss of $54 million
• Full-year 2025 Adjusted EBITDA of $1 million; first time positive in company history

SAN FRANCISCO--(BUSINESS WIRE)-- Nextdoor Holdings, Inc. (NYSE: NXDR), the essential neighborhood network, today announced results for the fourth quarter and full year ended December 31, 2025.

Nextdoor's highlighted metrics for the fourth quarter ended December 31, 2025 include:

• Revenue of $69 million increased 7% year-over-year.
• Total Platform Weekly Active Users (Platform WAU) of 21.0 million decreased 5% year-over-year.
• Net loss was $4 million, compared to $12 million in the year-ago period.
• Adjusted EBITDA was $8 million, compared to $3 million in the year-ago period, reflecting 6 percentage points of year-over-year margin improvement.

Nextdoor's highlighted metrics for the year ended December 31, 2025 include:

• Revenue of $258 million increased 4% year-over-year.
• Net loss was $54 million, compared to $98 million in the year-ago period.
• Adjusted EBITDA was positive $1 million, compared to a loss of $18 million in the year-ago period.
• Cash, cash equivalents, and marketable securities were $405 million as of December 31, 2025.

“Our Q4 results reflect steady progress and consistent execution across the business,” said Nextdoor CEO Nirav Tolia. “We delivered record quarterly revenue and achieved positive full-year Adjusted EBITDA a year ahead of schedule. We remain focused on improving the core experience for neighbors on Nextdoor.”

"Nextdoor’s neighborhood graph has always been a differentiated asset. Now, we are working to unlock its full potential by aligning our content with the real-world decisions neighbors make every day," said Tolia. "Our value isn't in passive scrolling, but in high-intent moments. By using AI to surface the right local information at the right time, we’re driving the deeper engagement necessary to create durable, long-term value."

"I'm excited to report my first quarter as CFO with strong financial performance across the board," said Nextdoor CFO Indrajit Ponnambalam. "We grew revenue 7% year-over-year in Q4, reduced our net loss by more than half compared to the prior year, and expanded our Adjusted EBITDA margin by 6 percentage points. These results culminated in our first full year of positive Adjusted EBITDA, a milestone that reflects the discipline of our entire team. With $405 million in cash and marketable securities, we have a strong foundation for continued investment and growth."

For more detailed information on our operating and financial results for the fourth quarter and full year ended December 31, 2025, as well as our outlook for the first quarter and fiscal year 2026, please reference our Nextdoor Investor Update posted to our Investor Relations website located at investors.nextdoor.com.

	Three Months Ended December 31,								Year Ended December 31,
(in thousands)		2025				2024				2025				2024
Revenue	$	69,479			$	65,228			$	257,646			$	247,276
Loss from operations	$	(7,424	)		$	(17,097	)		$	(71,942	)		$	(121,639	)
Net loss	$	(4,033	)		$	(12,123	)		$	(54,204	)		$	(98,063	)
Adjusted EBITDA(1)	$	7,621			$	3,043			$	601			$	(18,207	)

⁽¹⁾ The following is a reconciliation of net loss, the most comparable GAAP measure, to Adjusted EBITDA for the periods presented above:

	Three Months Ended December 31,								Year Ended December 31,
(in thousands)		2025				2024				2025				2024
Net loss	$	(4,033	)		$	(12,123	)		$	(54,204	)		$	(98,063	)
Depreciation and amortization		402				591				1,935				3,898
Stock-based compensation		14,545				19,874				65,343				74,055
Interest income		(4,378	)			(5,322	)			(18,758	)			(24,381	)
Provision for income taxes		1,085				23				1,625				706
Restructuring charges		—				—				4,660				25,578
Adjusted EBITDA	$	7,621			$	3,043			$	601			$	(18,207	)

Nextdoor will host a conference call at 2:00 p.m. PT/5:00 p.m. ET today to discuss these results and outlook. A live webcast of our fourth quarter and full year 2025 earnings release call will be available in the Events & Presentations section of Nextdoor’s Investor Relations website located at investors.nextdoor.com. After the live event, the audio recording for the webcast can be accessed on the same website for approximately one year.

Nextdoor uses its Investor Relations website (investors.nextdoor.com), its X handle (x.com/Nextdoor), its LinkedIn Home Page (linkedin.com/company/nextdoor-com), and Nirav Tolia’s LinkedIn posts (https://www.linkedin.com/in/niravtolia/) and X posts (https://x.com/niravtolia) as a means of disseminating or providing notification of, among other things, news or announcements regarding its business or financial performance, investor events, press releases, and earnings releases, and as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are prepared in accordance with GAAP, we present certain non-GAAP financial measures, such as Adjusted EBITDA, in this press release. Our use of non-GAAP financial measures has limitations as an analytical tool, and these measures should not be considered in isolation or as a substitute for analysis of financial results as reported under GAAP.

We use non-GAAP financial measures in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including in the preparation of our annual operating budget, as a measure of our core operating results and the effectiveness of our business strategy, and in evaluating our financial performance. Non-GAAP financial measures provide consistency and comparability with past financial performance, facilitate period-to-period comparisons of core operating results, and also facilitate comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. In addition, Adjusted EBITDA is widely used by investors and securities analysts to measure a company's operating performance. We exclude the following items from one or more of our non-GAAP financial measures: stock-based compensation expense (non-cash expense calculated by companies using a variety of valuation methodologies and subjective assumptions), depreciation and amortization (non-cash expense), interest income, provision for income taxes, and, if applicable, restructuring charges or acquisition-related costs.

Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, (1) stock-based compensation expense has recently been, and will continue to be for the foreseeable future, a significant recurring expense for our business and an important part of our compensation strategy, (2) although depreciation and amortization expense are non-cash charges, the assets subject to depreciation and amortization may have to be replaced in the future, and our non-GAAP measures do not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements, and (3) Adjusted EBITDA does not reflect: (a) changes in, or cash requirements for, our working capital needs; (b) interest expense, or the cash requirements necessary to service interest or principal payments on our debt, which reduces cash available to us; or (c) tax payments that may represent a reduction in cash available to us. The non-GAAP measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures.

About Nextdoor

Nextdoor (NYSE: NXDR) is the essential neighborhood network for over 105 million verified neighbors, offering trusted local news, real-time safety alerts, neighbor recommendations, for sale and free listings, and events. Nextdoor connects neighbors to the people, places, and information that matter most in their local communities. In addition, businesses, news publishers, and public agencies use Nextdoor to share important information and engage with neighborhoods at scale. Download the app or join the neighborhood at nextdoor.com. For more information and media assets, visit nextdoor.com/newsroom.

Safe Harbor Statement

This press release contains forward-looking statements regarding our future business expectations, including statements regarding projected financial results. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, as more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on February 18, 2026, and our other SEC filings, which are available on the Investor Relations page of our website at investors.nextdoor.com and on the SEC’s website at www.sec.gov. 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. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260218233855/en/

Investor Relations:

ir@nextdoor.com

or visit investors.nextdoor.com

Media Relations:

Kelsey Grady

press@nextdoor.com

Source: Nextdoor Holdings, Inc.