NerdWallet, Inc. (NASDAQ:NRDS) Q4 2023 Earnings Call Transcript

Q – Pete Christiansen: Thanks. Good evening. And appreciate you asking answering questions here on Tom. I know you called out prime as an issue earlier, and we’ve heard it in other areas as well. I’m just curious, what you’re seeing on the subprime side in terms of partner willingness to extend offers or to invest there? While I understand the delinquencies kind of peak there already things are kind of stabilizing, at least on the subprime, near prime area. Just curious, if you’re seeing any improving activity there.

Tim Chen : So, I think then certainly subprime is more stable that we had limited surprises there. I think really the timing there started probably the middle of 2022, probably 2Q 3Q and kind of incrementally got tighter and tighter. I think that feels like it’s on more of a more of a floor.

Q – Pete Christiansen: And then Tim and comment real quick just curious, you called that trial will still be a nice growth vertical there within card. I’m just curious, if you can put some color on that in terms of travel related products, and how they’re faring on the platform.

Lauren StClair: And maybe I’ll clarify with that one. So to the commentary around travel was the travel sort of vertical as a whole, not related specifically to credit cards although that is a piece of it. But the commentary was around the user growth and MUU growth specifically, in Q4 and where areas where we saw strength, one of those areas was travel.

Q – Pete Christiansen: Okay. Yes.

Tim Chen : So we’ve got a lot of great and great content, and insights around travel. And I think it’s a amazing way to get in front of users and introduce from an inner voice and reengagement as well.

Q – Pete Christiansen: That’s super helpful. Thank you, both.

Operator: Thank you. I would now like to turn the call back over to management for any closing remarks.

Tim Chen : Thanks all for your questions today. And as always, I’d like to thank the Nerds for their hard work in 2023 their efforts to drive progress towards our vision last year. I mean, we are well set up for 2024 and beyond to learn more about NerdWallet business condition mark your calendars for March 4 when we plan to release a new Investor video on our IR website, and looking forward to hearing your thoughts. With that, we’ll see you next quarter.

Operator: Thank you for your participation. You may now disconnect.