QNST — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-08-26

• Changes in regulations, or the regulatory environment, applicable to us or our media sources, third party publishers or clients could also have a material adverse effect on our business. For example, in December 2023, the FCC adopted new rules under the TCPA. The rules, among other things, allow the…

• As another example, in February 2024, the FCC adopted new rules governing the ability of call and text message recipients to revoke consent previously given and thereby “opt-out” of receiving future calls and text messages from a sender. These new rules specify when a call or text message recipient’…

• opt-out of a text message from that sender, the new rules permit a sender to seek to clarify the scope of the opt-out request through a one-time opt-out confirmation text message. This rule permitting a sender to seek such clarification through a one-time opt-out confirmation text message took effec…

• While we seek to minimize our exposure to third-party losses of our cash and cash equivalents, we hold our balances in a number of large financial institutions. Notwithstanding, those institutions are subject to risks, which may include failure or other circumstances

• that limit our access to deposits or other banking services. For example, on March 10, 2023, Silicon Valley Bank (“SVB”) was unable to continue their operations and the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver for SVB. However, if further failures in financial institu…

Text removed vs the prior filing · source: 10-K · 2025-08-21

• Changes in regulations, or the regulatory environment, applicable to us or our media sources, third party publishers or clients could also have a material adverse effect on our business. For example, in December 2023, the FCC adopted new rules under the TCPA. The rules, among other things, amended T…

• Notwithstanding the decision from the U.S. Court of Appeals for the Eleventh Circuit, the new rules allow the FCC to “red flag” certain numbers, requiring mobile carriers to block texts from those numbers. The rules also codify that the national Do-Not-Call list protections apply to text messaging, …

• As another example, in February 2024, the FCC adopted new rules governing the ability of call and text message recipients to revoke consent previously given and thereby “opt-out” of receiving future calls and text messages from a sender. These new rules specify when a call or text message recipient’…

• While we seek to minimize our exposure to third-party losses of our cash and cash equivalents, we hold our balances in a number of large financial institutions. Notwithstanding, those institutions are subject to risks, which may include failure or other circumstances that limit our access to deposit…

• We have entered into and exited certain international markets and may enter into international markets in the future, including through acquisitions. We have limited experience in marketing, selling and supporting our services outside of the United States, and we may not be successful in introducing…

Text added vs the prior filing · source: 10-K · 2026-08-26

• Net revenue increased by $200.0 million, or 18%, in fiscal year 2026 compared to fiscal year 2025. Revenue from our home services client vertical increased by $128.8 million, or 47%, primarily as a result of the acquisition of HomeBuddy, which contributed $88.9 million in net revenue, in addition to…

• Product development expenses increased by $3.4 million, or 10%, in fiscal year 2026 compared to fiscal year 2025. This was primarily due to increased stock-based compensation expense due to higher average grant date share prices in the current year and increased personnel cost due to higher headcoun…

• Sales and marketing expenses increased by $9.0 million, or 49%, in fiscal year 2026 compared to fiscal year 2025. This was primarily due to increased personnel cost due to higher headcount as a result of the HomeBuddy acquisition and retention bonus, and increased amortization expense due to the acq…

• General and administrative expenses decreased by $6.7 million, or 13%, in fiscal year 2026 compared to fiscal year 2025. The decrease was primarily driven by a lower increase in the fair value adjustments to contingent consideration related to the AquaVida acquisition compared to the prior year peri…

• Interest income relates to interest earned on our cash and cash equivalents. Interest expense consists primarily of financing costs associated with our revolving credit facility, and imputed interest on post-closing acquisition related payment obligations. Interest expense increased by $4.0 million …

Text removed vs the prior filing · source: 10-K · 2025-08-21

• Beginning in calendar 2024, the auto insurance industry began to benefit from rate increases and product optimizations which allowed increased advertising spending which in turn resulted in increases in our revenues and reductions to quarterly net losses. In our third and fourth fiscal quarters of 2…

• Net revenue increased by $480.2 million, or 78%, in fiscal year 2025 compared to fiscal year 2024. Revenue from our financial services client vertical increased by $424.6 million, or 108%, primarily due to an increase in revenue in our insurance business, which increased by $414.4 million, or 200%, …

• Product development expenses increased by $3.8 million, or 13%, in fiscal year 2025 compared to fiscal year 2024. This was primarily due to increased personnel costs of $4.0 million due to higher employee compensation expense and increased stock-based compensation expense.

• Sales and marketing expenses increased by $4.7 million, or 34%, in fiscal year 2025 compared to fiscal year 2024. This was primarily due to higher employee compensation expense and increased stock-based compensation expense.

• General and administrative expenses increased by $21.9 million, or 71%, in fiscal year 2025 compared to fiscal year 2024. This was primarily due to an adjustment to the fair value of contingent consideration from our AquaVida acquisition of $17.1 million, increased stock-based compensation expense o…

Text added vs the prior filing · source: 10-K · 2026-08-26

• As of June 30, 2026, we had a $150.0 million Revolving Credit Facility with $70.0 million outstanding. Interest on borrowings under the Revolving Credit Facility is payable quarterly at specified margins above either Term SOFR or the ABR. Our exposure to interest rate risk under our revolving credit…

• To date, our client agreements have been predominately denominated in U.S. dollars, and, accordingly, we have limited exposure to foreign currency exchange rate fluctuations related to client agreements, and do not currently engage in foreign currency hedging transactions. As the local accounts for …