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Sunday, 08/13/2023 2:58:56 PM

Sunday, August 13, 2023 2:58:56 PM

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From that awful Cathie Wood
Nextdoor (KIND)
Shares of Nextdoor traded down ~15% on Wednesday after the company reported9 second-quarter earnings, including revenues that recovered 4% on a year-over-year basis after two quarters of decline, but guided for stable instead of accelerating growth for the third quarter. Nextdoor’s weekly average users grew 13% year-over-year, decelerating slightly from 16% in the first quarter, while average revenue per user (ARPU) declined 7%, a significant improvement from -16%, thanks to a 17% increase in international ARPU. Importantly, Nextdoor's self-serve manager now is available to new advertisers of any size, supporting 100% of small- and medium-sized businesses with its proprietary backend server. While the company's third-quarter guidance of 4% revenue growth missed consensus estimates, we believe current investments in its platform and ad infrastructure will benefit Nextdoor meaningfully once the digital ad market recovers. Nextdoor is a social media platform that connects local consumers, businesses, and public services.

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