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Nextdoor: Next Step Up

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Update - Feb. 28, 2025

Nextdoor reported another strong quarter. 

  • Q4 Revenue of $65.23M (+17.4% Y/Y) beats by $2.11M.
  • Adjusted EBITDA was $3.0 million, compared to a $14.0 million loss in the year-ago period, reflecting 30 percentage points of year-over-year margin improvement.

    • The social media company guided to weak Q1 results due to going full speed ahead with the NEXT UI updates. This is great news for investors, but the stock is down some 30% due to the markets short-term focus. 

    The stock trades at near cash value of $427 million. 

    Originally posted on Nov. 8

    • Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios. Learn More »
    • Nextdoor has achieved a significant turnaround under the return of founding CEO Nirav Tolia, with 17% revenue growth and record WAUs.
    • The company nearly eliminated losses, reporting a Q3 adjusted EBITDA loss of just $1 million, and expects to be cash flow positive in Q4.
    • Nextdoor's had a strong balance sheet with $425 million in cash and the company has reduced diluted shares by 20 million via share buybacks.
    • The stock trades at just above 2x EV/S offering a compelling investment opportunity with potential for significant valuation uplift as new initiatives roll out.
    Amazingly, Nextdoor Holdings, Inc. (NYSE:KIND) has made a miraculous turnaround, yet Wall Street has hardly noticed. The local social media company reported another solid quarter, but the stock gets little to no attention. My investment thesis remains ultra-bullish on Nextdoor, as the company takes the next step forward to improve the product and further grow the business.


    Read the full article on Seeking Alpha. 

    Disclosure: Long KIND. Please review the disclaimer page for more details. 

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