NerdWallet, Inc. (NASDAQ:NRDS) Q4 2022 Earnings Call Transcript

Nicolette Radomski: Hi, this is Nicky Radomski for Peter Christiansen, Citi Research. Thanks for taking my question. Have you — do you expect to see an impact from Goldman’s removal of markets in the personal lending space? Any details regarding timing or quantity would be helpful. Thank you.

Lauren StClair: Could you repeat the question? We didn’t — it didn’t come across very clearly.

Nicolette Radomski: Sorry. Have you or do you expect to see an impact from Goldman’s removal of markets in the personal lending space? Any details regarding timing or quantity would be helpful.

Tim Chen: Right. Yes. Okay, got it. Yes, so we do see lenders pulling out of the space and going into the space. pretty frequently, right? I think the way I would think about personal loans is there’s a few players competing in the different bands — credit bands within that market. So you typically have two, three, four, five lenders in the, for example, super prime and or the near prime, et cetera. So, any one lender pulling out or coming in doesn’t tend to have a huge impact on the marketplace overall. We really tried to just make sure we’re presenting the right options and the set of options to the consumer and balance that.

Nicolette Radomski: Makes sense. Thank you.

Operator: Thank you. I’m showing no further questions in the queue. At this time, I’d like to turn the call over back to management for closing remarks.

Tim Chen: All right. Thanks all. Before we wrap-up, I want to be sure to thank the Nerds for their hard work which made these results possible. As I reflect on this past year and our plans for 2023, I’m really encouraged by the progress we’ve made, the financial performance we’ve achieved, and the opportunities available to us as a result. Looking ahead, we know this financial environment will continue to challenge our consumers and SMBs and we plan to meet this moment with ingenuity, focus, and meaningful investments, specifically around driving engagement, iterating quickly, and providing clarity for all of life’s financial decisions. Thankyou.

Operator: Thank you. This concludes today’s conference call. Thank you for participating. You may now disconnect.