Nextdoor reports Q3 adjusted EBITDA ($19.799M) vs ($18.366M) last year

Reports Q3 reevenue $56M, consensus $56.25M. “Nextdoor made strides in Q3 against a difficult advertising backdrop, and delivered year-over-year growth in the metrics that matter most for our long-term success. Weekly Active Users increased 6% year-over-year to 40.4 million, and we ended the quarter with approximately 85 million Verified Neighbors, with the largest addition of organic verified neighbors in any quarter in our history,” said Nextdoor CEO Sarah Friar. “Revenue of $56 million increased 4% year-over-year, including accelerating growth from small and medium business customers moving to the Nextdoor Ad Server. For the rest of 2023 and beyond, we remain focused on attracting new Neighbors to the platform, providing the relevant local content to drive engagement, and ensuring value for our advertisers- while building a sustainable business that delivers long-term value for our shareholders.”