QUINSTREET, INC

For the period ended Jun 30, 2026. Filed Aug 26, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2026 · Filed Aug 26, 2026

QNST$18.65-2.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

(In thousands)

	Fiscal Year Ended June 30,
	2026	2025	2024
Cash Flows from Operating Activities
Net income (loss)	$81,235	$4,707	$(31,331)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	25,175	24,506	23,957
Stock-based compensation	37,432	31,766	23,701
Impairment of investment in equity securities	—	—	2,000
Change in the fair value of contingent consideration	4,650	17,094	—
Provision for sales returns and doubtful accounts receivable	2,636	2,179	896
Deferred income taxes	9,621	381	597
Non-cash lease (income) expense	(27)	47	(513)
Release of tax valuation allowance	(60,717)	—	—
Other adjustments, net	2,554	53	(1,131)
Changes in assets and liabilities:
Accounts receivable	(41,667)	(26,197)	(44,934)
Prepaid expenses and other assets	3,676	(1,830)	2,966
Accounts payable	45,435	13,774	10,480
Accrued liabilities	21,300	18,500	25,351
Net cash provided by operating activities	131,303	84,980	12,039
Cash Flows from Investing Activities
Business acquisitions, net of cash acquired	(105,263)	—	(4,510)
Internal software development costs	(10,923)	(9,371)	(11,377)
Capital expenditures	(3,397)	(2,071)	(5,348)
Other investing activities	1,001	(1)	(1,500)
Net cash used in investing activities	(118,582)	(11,443)	(22,735)
Cash Flows from Financing Activities
Proceeds from borrowings under revolving credit facility	70,000	—	—
Payment of revolving credit facility upfront fees	(1,846)	—	—
Proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan	3,208	3,956	3,491
Payment of withholding taxes related to release of restricted stock, net of share settlement	(11,385)	(13,224)	(6,688)
Post-closing payments and contingent consideration related to acquisitions	(13,998)	(13,728)	(7,026)
Repurchase of common stock	(31,442)	—	(2,288)
Net cash provided by (used in) financing activities	14,537	(22,996)	(12,511)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(22)	50	18
Net increase (decrease) in cash, cash equivalents and restricted cash	27,236	50,591	(23,189)
Cash, cash equivalents and restricted cash at beginning of period	101,094	50,503	73,692
Cash, cash equivalents and restricted cash at end of period	$128,330	$101,094	$50,503
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents	$128,315	$101,078	$50,488
Restricted cash included in other assets, noncurrent	15	16	15
Total cash, cash equivalents and restricted cash	$128,330	$101,094	$50,503

(In thousands)

Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	$2,078	$576	$470
Supplemental Disclosure of Non-cash Investing and Financing Activities
Post-closing payments unpaid at acquisition date (See Note 6)	65,652	—	7,161
Contingent consideration unpaid at acquisition date	—	—	2,100
Retirement of treasury stock (See Note 13)	(31,442)	—	(2,200)
Purchases of property and equipment included in accrued liabilities	474	1,413	846

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