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what it is
Nextdoor runs a neighborhood app where people get local alerts, recommendations, listings, and updates from businesses and public agencies.
how it gets paid
Last year Nextdoor made $258M in revenue. local business advertising was the main engine at $108M, or 42% of sales.
why it's growing
Revenue grew 4.2% last year. Quarterly EPS improved from -$0.11 in Q2 2024 to -$0.03 in Q4 2024.
what just happened
Last quarter, Nextdoor reported -$0.03 EPS, its least-bad quarter of 2024, on revenue of $188M.
At a glance
B balance sheet — gets the job done, barely
-$0.25 fy2024 eps est
$100M fy2024 rev est
27.9% operating margin
1.3 beta
xvary composite: 47/100 — below average
What they do
Nextdoor runs a neighborhood app where people get local alerts, recommendations, listings, and updates from businesses and public agencies.
Nextdoor's edge is identity and location. It says the platform has over 100 million verified neighbors, which means your feed is tied to where you live, not just what you click. Verification moat (identity-based trust → harder to fake users → better local relevance) matters because local alerts, recommendations, and public-service posts work better when your neighbors are real.
How they make money
$258M
annual revenue · their business grew +4.2% last year
local business advertising
$108M
+5.0%
national brand advertising
$77M
+3.0%
public agency outreach
$39M
+6.0%
neighbor listings and recommendations
$21M
+2.0%
alerts and data partnerships
$13M
+10.0%
The products that matter
verified local community feed
Neighborhood Network
100M verified neighbors
this is the reach story. It is also the uncomfortable math story. 100 million verified neighbors turned into $258M of revenue last year. Scale showed up. Monetization did not.
audience first
local ad inventory and business tools
Local Advertising
Q1 2026 growth target: 7%
this is where the turnaround either starts to look real or stays a slide deck. Management wants 7% revenue growth in Q1 2026 and adjusted EBITDA breakeven in FY 2026. In human-speak: faster sales growth and a business that stops losing money on an operating basis.
credibility test
Key numbers
27.9%
operating margin
Operating margin → money left after running the business → so what: Nextdoor still loses money on its core operation.
$258M
ttm revenue
Revenue → total sales → so what: the business has real scale, just not enough profit discipline yet.
$26M
long-term debt
Long-term debt → money owed over years → so what: leverage is low at 4% of capital, so the balance sheet is not the main problem.
-$0.25
2024 eps est
EPS → profit per share → so what: shareholders are still paying for losses, not earnings.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
- long-term debt $26M (4% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for NXDR right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Last quarter, Nextdoor reported -$0.03 EPS, its least-bad quarter of 2024, on revenue of $188M.
Quarterly EPS improved from -$0.11 in Q2 2024 to -$0.03 in Q4 2024, based on EDGAR quarterly history. The weird part is the company still pairs improving per-share losses with a full-year operating margin of -27.9%.
$188M
revenue
-$0.03
eps
27.9%
operating margin
the number that mattered
The number that mattered was -27.9% operating margin, because shrinking losses per share mean less if the core business still burns about 28 cents on every dollar of operating revenue.
source: company earnings report, 2026
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What could go wrong
the central risk is simple: 100 million verified neighbors still have not turned into enough advertising revenue and cost discipline to support a clean breakeven story.
med
Reach stays bigger than revenue
100 million verified neighbors and $258M of annual revenue do not sit next to each other comfortably. The platform has audience scale. It has not shown ad economics that match that scale.
If user reach keeps sounding better than revenue growth, the market keeps valuing this as a maybe-later story rather than a real advertising asset.
med
The FY 2026 breakeven goal slips
Management is aiming for adjusted EBITDA breakeven in FY 2026. Adjusted EBITDA is operating profit before several accounting items and with some costs stripped out. In human-speak: even management's preferred profitability yardstick still has not crossed zero.
If that date moves out again, the one part of the story investors are still underwriting loses credibility fast.
med
The stock keeps trading on mood swings
A 45% one-day jump in December 2025, a 10 / 100 price stability score, and a 1.3 beta all point the same way. This name still reacts like a speculative setup more than a settled business.
You can be directionally right about the company and still get a messy path in the stock. That matters if your time horizon is shorter than management's promise window.
med
The market already sits above the average target
Consensus target is $2.10. The stock is $2.18. That is a small gap in the wrong direction if you are hoping the street is still underestimating the easy upside.
When expectations are only modestly skeptical and the business is still proving itself, a small miss can matter more than a small beat.
With $258M in revenue, a -21.04% net margin, and a stock already above the $2.10 average target, the thesis needs execution more than imagination.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q1 2026 earnings report
Expected on May 6, 2026. The first question is whether revenue growth actually reaches the 7% target management put out.
metric
Revenue growth above 4.2%
Last year the business grew 4.2%. You need a real step up from that level, not another quarter that is technically better but strategically still thin.
risk
Adjusted EBITDA breakeven in FY 2026
This is management's main credibility test. If breakeven moves out again, the market will stop giving the turnaround story extra patience.
trend
Fundamentals catching up to the stock
A 45% one-day spike and a 10 / 100 stability score mean the stock can sprint ahead of the business. You want operating progress to start driving the chart instead.
Analyst rankings
risk profile
average
risk rank 3 — typical risk profile — neither especially safe nor risky.
chart momentum
below average
momentum rank 4 — analysts see underperformance risk in the near term.
source: institutional data
Institutional activity
institutional ownership data for NXDR is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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