NerdWallet (NRDS)

IPO Stage
BETA

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Analytics

Stage

IPO

Platform

Robinhood

IPO Date

11/04/2021

Method of Going Public

IPO

Expected Public Exchange

Nasdaq

Price Range

$17 - $19

Security Type

Equity - Common

Funding Type

S-1

Series

Series D

IPO Valuation

$1.2B

IPO Lead Underwriter

Morgan Stanley, KeyBanc, BofA Securities, Barclays, Citigroup

# of Acquisitions

0

Location

San Francisco, California

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Business Type

Growth

NerdWallet, with an expected public market valuation of approximately $1.2 billion, will go public before the end of 2021. NerdWallet is a financial platform that helps people make better financial decisions. Tim Chen and Jacob Gibson founded Nerdwallet in 2009 after Chen lost his job due to the financial crisis. The company will trade under the ticker "NRDS" on the Nasdaq and the company is offering over 7 million shares at a price range of $17 - $19.

Income Statement

Revenue

$245,300,000

Operating Expenses

Research/Technology & Development

$50,900,000

Sales & Marketing

$144,000,000

General & Administrative

$28,000,000

Total Operating Expenses

$243,400,000

Operating Income

$1,900,000

Other Income, Net

$-1,000,000

Income (Loss) Before Provision For (Benefit From) Income Taxes

$900,000

Provision For (Benefit From) Income Taxes

$4,400,000

Net Income (Loss)

$5,300,000

 

Net Income (Loss) Attributable to Common Stockholders:

Basic

$0.00

Diluted

$0.00

Net Income (Loss) Per Share Attributable to Common Stockholders:

Basic

$0.06

Diluted

$0.05

Weighted-Average Shares of Common Stock Used For Pro Forma:

Basic

0

Diluted

0

Balance Sheet - Assets

Current Assets

Cash and Cash Equivalents

$83,400,000

Accounts Receivable

$37,300,000

Total Current Assets

$129,400,000

Property and Equipment, Net

$27,700,000

Goodwill

$43,800,000

Intangible Assets, Net

$35,600,000

Restricted Cash

$0

Other Assets

$600,000

Total Assets

$255,200,000

Balance Sheet - Liabilities

Current Liabilities

Accounts Payable

$5,400,000

Accrued Expenses

$0

Other Current Liabilities

$18,600,000

Total Current Liabilities

$24,000,000

Total Liabilities

$103,700,000

Commitments and Contingencies

Convertible Preferred Stock

$68,800

Stockholders' (deficit) Equity

Common Stock

$0

Additional Paid In Capital

$99,800,000

Accumulated Other Comprehensive Income (Loss)

$600,000

Total Stockholders' (Deficit) Equity

$82,700,000

Statements of Cash Flows

Cash Flows from Operating Activites

Net Cash Provided By (Used In) Operating Activities

$15,400,000

Cash Flows from Investing Activites

Net Cash Provided By (Used In) Investing Activities

$-55,400,000

Cash Flows from Financing Activites

Net Cash Provided By (Used In) Financing Activities

$55,700,000

Total Cash, Cash Equivalents, and Restricted Cash

$0

Financials as of: 05/03/2021
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NerdWallet IPO 2021: A Startup Investor’s Guide
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Platform: Robinhood
Security Type: Equity - Common
Valuation: $1,200,000,000

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