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Nerdwallet cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$31.0M in Q3 2026 · $146M over twelve months

Operating cash flow$31.2M
Capital spending−$200K
Free cash flow+$31.0M
Cash / net income2.1×
Cash conversion cycle-62 days

Analysis

In Q3 2026, Nerdwallet generated $31.2M of operating cash flow and spent $200K on capital projects, leaving free cash flow of $31.0M. That is $17.4M less than in Q3 2025 ($48.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $147M; the largest uses were buybacks ($150M), acquisitions ($29.3M), other investing ($14.5M); besides operations, cash came from shares issued ($2.1M), other financing ($200K); the cash balance fell by $47.1M.

Operating cash flow was $31.2M against net income of $14.9M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$10.3M, depreciation & amortization +$10.0M, receivables −$9.3M.

Its cash conversion cycle was -62 days (receivables 45 + inventory 0 − payables 108): suppliers fund its working capital.

Free cash flow

Nerdwallet: free cash flow by quarterNerdwallet: free cash flow by quarter$9.7MQ4 2024$26.5MQ1 2025$16.8MQ2 2025$48.4MQ3 2025$38.6MQ4 2025$35.3MQ1 2026$41.1MQ2 2026$31.0MQ3 2026
Operating cash flow less capital spending.
Nerdwallet: operating cash flow against capital spendingNerdwallet: operating cash flow against capital spendingOperating cash flowCapital spending$9.9M$200KQ4 2024$26.7M$200KQ1 2025$17.5M$700KQ2 2025$48.5M$100KQ3 2025$38.9M$300KQ4 2025$35.7M$400KQ1 2026$41.2M$100KQ2 2026$31.2M$200KQ3 2026
Latest (Q3 2026): Operating cash flow $31.2M, Capital spending $200K.

Capital allocation, year by year

Nerdwallet: where the cash came from (up) and went (down), by fiscal yearNerdwallet: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $7.2MFY2021: Shares issued $11.0MFY2021: Capital spending −$2.3M$18.2MFY2021FY2022: Operating cash flow $25.0MFY2022: Shares issued $7.7MFY2022: Capital spending −$4.6MFY2022: Acquisitions −$68.1M$32.7MFY2022FY2023: Operating cash flow $72.1MFY2023: Net borrowing −$15.0MFY2023: Shares issued $10.2MFY2023: Capital spending −$700KFY2023: Buybacks −$20.0M$82.3MFY2023FY2024: Operating cash flow $71.8MFY2024: Shares issued $6.3MFY2024: Capital spending −$600KFY2024: Acquisitions −$300KFY2024: Buybacks −$80.1M$78.1MFY2024FY2025: Operating cash flow $132MFY2025: Net borrowing $4.4MFY2025: Shares issued $1.1MFY2025: Capital spending −$1.3MFY2025: Acquisitions −$13.1MFY2025: Buybacks −$70.2M$137MFY2025
Over these 5 years operating cash flow totalled $308M; the largest uses were buybacks ($170M) and acquisitions ($81.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$73.5M
Debtnone
Net cash$73.5M

Nerdwallet funds itself: free cash flow was $146M over the last twelve months, with $73.5M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Nerdwallet: sources (+) and uses (−) of cash, Q3 2026Nerdwallet: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$31.2MCash drawn (+) / kept (−)−$11.5MBuybacks−$10.5MAcquisitions−$5.1MOther investing−$2.9MNet borrowing (+) / repaid (−)−$1.5MShares issued$1.0MTaxes on employees’ shares−$500KCapital spending−$200K
Nerdwallet: sources (+) and uses (−) of cash, TTM to Q3 2026Nerdwallet: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$150MOperating cash flow$147MCash drawn (+) / kept (−)$47.1MAcquisitions−$29.3MOther investing−$14.5MShares issued$2.1MTaxes on employees’ shares−$1.6MCapital spending−$1.0MOther financing$200K

From profit to cash

Nerdwallet: net income to operating cash flow, Q3 2026Nerdwallet: net income to operating cash flow, Q3 2026Net income$14.9MDepreciation & amortization$10.0MStock-based pay$10.3MDeferred taxes$3.3MOther non-cash$400KReceivables−$9.3MPayables$6.9MAccrued liabilities$600KPrepaid and other assets−$7.2MOperating cash flow$31.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202645—108-62
Q2 202652—66-13
Q1 202645—406
Q4 202548—64-17
Q3 202547—76-29
Q2 202553—99-46
Q1 202548—82-34
Q4 202451—59-7

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$31.2M−$200K−$5.1M−$10.5M−$1.5M$1.0M−$11.5M$31.0M
Q2 2026$41.2M−$100K−$300K−$22.8M−$9.7M$400K−$5.7M$41.1M
Q1 2026$35.7M−$400K−$15.8M−$66.0M$8.0M$300K$42.0M$35.3M
Q4 2025$38.9M−$300K−$8.1M−$50.7M$1.1M$400K$22.3M$38.6M
Q3 2025$48.5M−$100K—−$19.2M−$5.4M$400K−$15.3M$48.4M
Q2 2025$17.5M−$700K−$5.0M−$300K$4.4M$300K−$13.1M$16.8M
Q1 2025$26.7M−$200K——$4.3M—−$25.9M$26.5M
Q4 2024$9.9M−$200K−$300K−$10.3M—$1.1M$5.4M$9.7M

Nerdwallet: income statement and cash flow

Nerdwallet, Q3 2026: revenue $240M (+11% year over year), operating margin 8.1%. The chart follows the revenue to costs, profit and cash.

Nerdwallet: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.