QUINSTREET, INC(QNST)Stock Analysis
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Rank #396 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
QNST Stock Analysis & AI Quality Score
AI stock analysis and institutional research for QUINSTREET, INC (QNST), a Industrials sector company. 13F Pro's AI-powered ranking engine scores QNST at 68.9/100 on a 32-signal composite quality model, placing it at rank #396 of 2,879 stocks — the top 25% of the AI-ranked universe. QNST scores in the top quartile across balance sheet strength (95.7), revenue growth (89.9). Areas of concern include earnings quality (30.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 29.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q3 2026), QUINSTREET, INC reports quarterly revenue of $346.1M, net income of $7.4M, an operating margin of 3.0%. Top institutional holders of QNST by reported 13-F value include BlackRock,, Private Capital Management,, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. QNST trades on the Nasdaq exchange and files with the SEC under CIK 1117297. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate QNST daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for QUINSTREET, INC directly from SEC EDGAR. QUINSTREET, INC's 13F Pro composite quality score has ranged between 8 and 69 since 2021, currently 68.9 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving QNST's Business? Latest 10-Q Breakdown
✓ 24/24 datapoints verifiedAI-extracted from QUINSTREET, INC's 10-Q filed 2026-05-08 — Q3 FY2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
QuinStreet reported Q3 revenue of $346.1M (+28% YoY), driven by HomeBuddy acquisition ($39.1M contribution) and 16% growth in financial services insurance business.
Biggest Revenue Drivers
Total revenue: $346.1M+28% YoY
Increase in insurance business revenue of $38.2M from higher demand across carrier clients, offset by $6.1M decline in other financial services verticals.
HomeBuddy acquisition contributed $39.1M, plus increased client budgets and successful growth initiatives.
Largest Expense Items
Increased media and marketing costs of $62.0M due to higher revenue volumes, plus personnel cost increase of $1.3M.
Increase in professional fees of $2.6M related to HomeBuddy acquisition and higher fair value of contingent consideration of $1.0M.
Increased personnel costs from HomeBuddy headcount and increased amortization of related intangible assets.
Margins: Gross profit margin expanded to 12% from 10% YoY, driven by lower personnel and depreciation costs as a percentage of revenue, partially offset by higher media and marketing costs percentage. Operating income grew to 2.9% of revenue from 1.8% YoY due to revenue growth outpacing operating expense increases.
Watch Items from the Filing
- One client accounted for 24% of Q3 revenue and 22% of nine-month revenue; customer concentration remains elevated.
- Debt increased to $70M from $0 to fund HomeBuddy acquisition; annual interest expense on $70M borrowing at estimated rates would be ~$1.8M–$2.1M.
- HomeBuddy acquisition included $75M in post-closing anniversary payments over four years, creating significant future cash obligations.
- Tax benefit of $47.9M in nine months driven by release of valuation allowance; future tax provision expected to normalize to higher levels.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q3 2026
$346.1M
Net Income
Q3 2026
$7.4M
Free Cash Flow
Q3 2026
$36.4M
Operating Margin
Q3 2026
3.0%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+5.7% YoYNet Income
+54.5% YoYOperating Income
-34.8% YoYEPS (Diluted)
+55.5% YoYTotal Assets
+9.3% YoYOp. Cash Flow
+1.7% YoY| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $613.5M +5.7% | $580.6M -0.3% | $582.1M +0.6% | $578.5M +18.0% | $490.3M +7.7% | $455.2M |
| Net Income | $-31.3M +54.5% | $-68.9M -1212.2% | $-5.2M -122.3% | $23.6M +30.1% | $18.1M -71.0% | $62.5M |
| Operating Income | $-28.1M -34.8% | $-20.8M -341.2% | $-4.7M -133.9% | $13.9M +124.4% | $6.2M -42.2% | $10.7M |
| EPS (Diluted) | $-0.57 +55.5% | $-1.28 -1180.0% | $-0.10 -123.3% | $0.43 +26.5% | $0.34 -71.2% | $1.18 |
| Total Assets | $368.5M +9.3% | $337.2M -19.7% | $419.9M -6.6% | $449.5M +25.4% | $358.4M +10.4% | $324.6M |
| Operating Cash Flow | $12.0M +1.7% | $11.8M -58.7% | $28.7M -43.4% | $50.6M +6.3% | $47.6M +25.4% | $38.0M |
AI Insight: QNST Financial Trends
QNST crossed into consistent profitability in 2025, with Q1 2026 revenue surging to $346M — a 28% year-over-year jump — while operating income hit a multi-quarter high of $10M.
• Revenue grew from $169M in Q1 2024 to $346M in Q1 2026, roughly doubling over five quarters of comparable periods.
• Net income flipped from persistent losses (–$7M in Q1 2024) to positive territory, reaching $7M in Q1 2026.
• Operating cash flow strengthened to $37M in Q1 2026, up from $4M in Q1 2024, with only one negative quarter (Q3 2024).
• Equity expanded steadily from $215M in Q1 2024 to $310M in Q1 2026, reflecting retained earnings accretion.
⚠ Total debt of $70M appeared for the first time in Q1 2026 with no prior periods reporting debt — warrants monitoring for leverage trajectory.
⚠ Q4 2025 net income of $50M is a large outlier versus surrounding quarters (~$4–7M); likely non-recurring — operating income was only $1M.
⚠ Operating margins remain thin; Q1 2026 op income of $10M on $346M revenue implies ~2.9% margin, leaving little buffer for revenue softness.
AI Insight: QNST Ratio Trends
QuinStreet has swung from deeply negative returns in Q1 2024 to positive profitability in Q1 2026, but margins remain thin and a Q4 2025 NPM spike clouds earnings quality.
• Operating margin recovered from -3.2% in Q1 2024 to 3.0% in Q1 2026, marking six consecutive quarters of improvement.
• ROIC turned positive, rising from -9.9% in Q1 2024 to 10.8% in Q1 2026, signaling a meaningful capital efficiency inflection.
• Q4 2025 NPM spiked to 17.4% while operating margin was only 0.4%, suggesting a large non-operating or one-time gain distorted net income.
⚠ The Q4 2025 NPM/OpMargin divergence (17.4% vs. 0.4%) warrants scrutiny — recurring earnings power may be weaker than headline net income implies.
⚠ Operating margins remain thin at 3.0% in Q1 2026; any revenue softness could quickly push the company back into operating losses.
⚠ D/E of 0.23 (TTM and Q1 2026) is modest, but leverage data is absent for interim quarters, limiting full balance-sheet visibility.
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Top Institutional Holders of QNST
BlackRock, Inc.
$126.7M10,550,030 shPrivate Capital Management, LLC
$53.0M4,415,402 shVANGUARD CAPITAL MANAGEMENT LLC
$29.1M2,419,282 shSTATE STREET CORP
$26.1M2,169,083 shAQR CAPITAL MANAGEMENT LLC
$24.9M2,073,318 shGOLDMAN SACHS GROUP INC
$19.3M1,604,674 shROYCE & ASSOCIATES LP
$18.9M1,574,293 shLAZARD ASSET MANAGEMENT LLC
$17.3M1,441,113 shGEODE CAPITAL MANAGEMENT, LLC
$16.5M1,370,786 shVANGUARD PORTFOLIO MANAGEMENT LLC
$16.0M1,333,342 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $126.7M | 10,550,030 |
| Private Capital Management, LLC | $53.0M | 4,415,402 |
| VANGUARD CAPITAL MANAGEMENT LLC | $29.1M | 2,419,282 |
| STATE STREET CORP | $26.1M | 2,169,083 |
| AQR CAPITAL MANAGEMENT LLC | $24.9M | 2,073,318 |
| GOLDMAN SACHS GROUP INC | $19.3M | 1,604,674 |
| ROYCE & ASSOCIATES LP | $18.9M | 1,574,293 |
| LAZARD ASSET MANAGEMENT LLC | $17.3M | 1,441,113 |
| GEODE CAPITAL MANAGEMENT, LLC | $16.5M | 1,370,786 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $16.0M | 1,333,342 |
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Is QNST a good stock to buy?
13F Pro's AI-powered analysis of QUINSTREET, INC (QNST) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for QNST are available on the QNST stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own QNST?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling QNST. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of QUINSTREET, INC's investment landscape.