- QuinStreet (NASDAQ:QNST) completed the sale of its Education media, client and campaign assets to private company EducationDynamics for $20M in cash; sale closed on August 31, 2020.
- "With the divestiture of Education, we are now focused solely on Financial Services and Home Services. Revenue from those client verticals has grown at a 3-year CAGR of 32% for QuinStreet," CEO Doug Valenti commented.
- The company believes that the Financial Services and Home Services client verticals have attractive long term business opportunities; capable of supporting strong double-digit revenue growth and margin expansion for upcoming years.
- Post the education assets sale, led by strong auto Insurance and Home Services client verticals, QuinStreet reaffirms $125-$130M in FQ1 revenue and mid-single digit adjusted EBITDA margin.