# News Pod #18 - NerdWallet's Q1 '26 Earnings: Why Is The Stock Down 30%?

Page: https://stenobird.com/podcast/the-free-toaster-7173245/news-pod-18-nerdwallet-s-q1-26-earnings-why-is-the-stock-down-30
Text version: https://stenobird.com/podcast/the-free-toaster-7173245/news-pod-18-nerdwallet-s-q1-26-earnings-why-is-the-stock-down-30.md
Podcast: [The Free Toaster](https://stenobird.com/podcast/the-free-toaster-7173245)
Published: 2026-05-15T17:43:04+00:00
Episode link: https://thefreetoaster.podbean.com/e/news-pod-18-nerdwallets-q1-26-earnings-why-is-the-stock-down-30/
Audio file: https://mcdn.podbean.com/mf/web/qyvu32dxg5wxxwgy/News_Pod-5_15AUDIO.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-free-toaster-7173245/episodes/news-pod-18-nerdwallet-s-q1-26-earnings-why-is-the-stock-down-30
Duration seconds: 1187

## Resource

Carlos and Nick break down NerdWallet's Q1 2026 earnings, the first full read on the company since the stock dropped 32% post-print. Headline numbers look fine on the surface. $222M in revenue, 6% YoY growth, $34M in non-GAAP operating income at a 15% margin. Look one layer down and the story turns. A major insurance carrier pulled back. Small business was down 15% YoY and got zero analyst questions. And the cards business, which NerdWallet said it would stop reporting at the segment level, showed up on the investor relations site anyway. It was down 33% YoY from Q1 2025 to Q1 2026. Today's Pod expands on our Newsletter coverage: https://www.thefreetoaster.com/p/nerdwallets-q1-26-earnings-why-is *****The Free Toaster is hosting the Affiliate Marketing Summit for Lenders on September 23rd & 24th in San Francisco. Save the date! More details coming soon. ***** The Free Toaster Newsletter ships every Wednesday at www.thefreetoaster.com, curating the biggest stories at the intersection of consumer lending, marketing, and technology. ****** To support The Free Toaster Podcast, please visit our sponsors: New Market Growth: New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others.Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators. If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com Spinwheel: Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing r…

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