QUINSTREET, INC
For the period ended Jun 30, 2025. Filed Aug 21, 2025.
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FY2025 · Filed Aug 21, 2025
QNST$18.65-2.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Fiscal Year Ended June 30, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash Flows from Operating Activities | |||
| Net income (loss) | $4,707 | $(31,331) | $(68,866) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 24,506 | 23,957 | 19,155 |
| Stock-based compensation | 31,766 | 23,701 | 18,786 |
| Impairment of investment in equity securities | — | 2,000 | — |
| Change in the fair value of contingent consideration | 17,094 | — | — |
| Provision for sales returns and doubtful accounts receivable | 2,179 | 896 | 2,745 |
| Deferred income taxes | 381 | 597 | 47,214 |
| Non-cash lease expense (income) | 47 | (513) | (1,081) |
| Other adjustments, net | 53 | (1,131) | (25) |
| Changes in assets and liabilities: | |||
| Accounts receivable | (26,197) | (44,934) | 10,936 |
| Prepaid expenses and other assets | (1,830) | 2,966 | (4,802) |
| Accounts payable | 13,774 | 10,480 | (4,770) |
| Accrued liabilities | 18,500 | 25,351 | (7,454) |
| Net cash provided by operating activities | 84,980 | 12,039 | 11,838 |
| Cash Flows from Investing Activities | |||
| Internal software development costs | (9,371) | (11,377) | (11,942) |
| Capital expenditures | (2,071) | (5,348) | (3,062) |
| Acquisitions, net of cash acquired | — | (4,510) | — |
| Other investing activities | (1) | (1,500) | (121) |
| Net cash used in investing activities | (11,443) | (22,735) | (15,125) |
| Cash Flows from Financing Activities | |||
| Proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan | 3,956 | 3,491 | 3,219 |
| Payment of withholding taxes related to release of restricted stock, net of share settlement | (13,224) | (6,688) | (5,389) |
| Post-closing payments and contingent consideration related to acquisitions | (13,728) | (7,026) | (11,643) |
| Repurchase of common stock | — | (2,288) | (5,646) |
| Net cash used in financing activities | (22,996) | (12,511) | (19,459) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 50 | 18 | (15) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 50,591 | (23,189) | (22,761) |
| Cash, cash equivalents and restricted cash at beginning of period | 50,503 | 73,692 | 96,453 |
| Cash, cash equivalents and restricted cash at end of period | $101,094 | $50,503 | $73,692 |
| Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets | |||
| Cash and cash equivalents | $101,078 | $50,488 | $73,677 |
| Restricted cash included in other assets, noncurrent | 16 | 15 | 15 |
| Total cash, cash equivalents and restricted cash | $101,094 | $50,503 | $73,692 |
| Supplemental Disclosure of Cash Flow Information | |||
|---|---|---|---|
| Cash paid for income taxes | $576 | $470 | $372 |
| Supplemental Disclosure of Non-cash Investing and Financing Activities | |||
| Post-closing payments unpaid at acquisition date (See Note 6) | — | 7,161 | — |
| Contingent consideration unpaid at acquisition date (See Note 6) | — | 2,100 | — |
| Retirement of treasury stock (See Note 12) | — | (2,200) | (4,053) |
| Purchases of property and equipment included in accrued liabilities | 1,413 | 846 | 1,228 |
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