Nextdoor reports Q4 adjusted EBITDA ($14.0M) vs. ($17.1M) last year.

Reports Q4 revenue $55.6M, consensus $51.2M. “Nextdoor ended the year with renewed strength and positive momentum. Fourth quarter Weekly Active Users (WAU) grew 5% year-over-year and 3% sequentially, organic Verified Neighbor growth set a record for the second consecutive quarter, and we saw initial benefits from our recent cost reductions,” said Nextdoor CEO Sarah Friar. “We delivered full year 2023 revenue growth and Adjusted EBITDA margin improvement, and enter 2024 with a streamlined cost structure, $531 million of cash and investments on our balance sheet, user growth momentum, and progress against our ad platform milestones. Our recently announced $150 million increase to our existing share repurchase program is further demonstration of our long-term confidence.”