Nextdoor Holdings (KIND) shares plummeted 9.64% in the pre-market trading session on Friday, following the company's fourth-quarter earnings report that missed analysts' expectations and showed wider losses.
The social networking company reported an adjusted loss of $0.08 per share for the quarter ended December 31, 2024, higher than the average analyst estimate of a $0.04 loss per share. While revenue grew 17.4% year-over-year to $65.23 million, it wasn't enough to offset the larger-than-expected losses.
Nextdoor Holdings reported a quarterly net loss of $12.12 million, which likely weighed heavily on investor sentiment. Despite the revenue growth, the company's struggles to control costs and achieve profitability appear to be a significant concern for investors, leading to the sharp pre-market sell-off.
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