As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the consumer internet industry, including Remitly (NASDAQ: RELY) and its peers.
The ways people shop, transport, communicate, learn and play are undergoing a tremendous, technology-enabled change. Consumer internet companies are playing a key role in lives being transformed, simplified and made more accessible.
The 50 consumer internet stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 2% while next quarter’s revenue guidance was in line.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 22% since the latest earnings results.
Remitly (NASDAQ: RELY)
With Amazon founder Jeff Bezos as an early investor, Remitly (NASDAQ: RELY) is an online platform that enables consumers to safely and quickly send money globally.
Remitly reported revenues of $351.9 million, up 32.9% year on year. This print exceeded analysts’ expectations by 2.4%. Overall, it was a strong quarter for the company with EBITDA guidance for next quarter exceeding analysts’ expectations.
“We delivered an exceptional fourth quarter and full year, exceeding expectations, as our product strength and customer loyalty drove durable growth and improving profitability,” said Matt Oppenheimer, co-founder and Chief Executive Officer, Remitly.
The stock is down 23.2% since reporting and currently trades at $19.91.
Read why we think that Remitly is one of the best consumer internet stocks, our full report is free.
Best Q4: Carvana (NYSE: CVNA)
Known for its glass tower car vending machines, Carvana (NYSE: CVNA) provides a convenient automotive shopping experience by offering an online platform for buying and selling used cars.
Carvana reported revenues of $3.55 billion, up 46.3% year on year, outperforming analysts’ expectations by 6.2%. The business had an exceptional quarter with a solid beat of analysts’ EBITDA estimates and impressive growth in its units.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 35.7% since reporting. It currently trades at $181.15.
Is now the time to buy Carvana? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: Skillz (NYSE: SKLZ)
Taking a new twist at video gaming, Skillz (NYSE: SKLZ) offers developers a platform to create and distribute mobile games where players can pay fees to compete for cash prizes.
Skillz reported revenues of $20.37 million, down 34.5% year on year, falling short of analysts’ expectations by 18.7%. It was a disappointing quarter as it posted a decline in its users.
Skillz delivered the weakest performance against analyst estimates and slowest revenue growth in the group. The company reported 110,000 monthly active users, down 19.7% year on year. As expected, the stock is down 19.6% since the results and currently trades at $4.10.
Read our full analysis of Skillz’s results here.
Nextdoor (NYSE: KIND)
Helping residents figure out what's happening on their block in real time, Nextdoor (NYSE: KIND) is a social network that connects neighbors with each other and with local businesses.
Nextdoor reported revenues of $65.23 million, up 17.4% year on year. This result topped analysts’ expectations by 1.6%. More broadly, it was a slower quarter with EBITDA guidance for the next quarter missing analysts’ expectations.
The company reported 45.9 million monthly active users, up 9.8% year on year. The stock is down 40.2% since reporting and currently trades at $1.49.
Read our full, actionable report on Nextdoor here, it’s free.
Coinbase (NASDAQ: COIN)
Widely regarded as the face of crypto, Coinbase (NASDAQ: COIN) is a blockchain infrastructure company updating the financial system with its trading, staking, stablecoin, and other payment solutions.
Coinbase reported revenues of $2.27 billion, up 138% year on year. This print beat analysts’ expectations by 22%. Overall, it was a strong quarter as it also logged a solid beat of analysts’ EBITDA estimates and strong growth in its users.
Coinbase achieved the biggest analyst estimates beat among its peers. The company reported 8.4 million monthly active users, up 20% year on year. The stock is down 42.1% since reporting and currently trades at $172.46.
Read our full, actionable report on Coinbase here, it’s free.
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