NerdWallet, Inc.

Good day and thank you for standing by. Welcome to the NerdWallet, Inc. Q2 2026 earnings call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to the very first speaker today, Zach Ogle. Zach, please go ahead.

Thank you, operator. Welcome to the NerdWallet Q2 2026 earnings call. Joining us today are co-founder and CEO Tim Chen and Chief Financial Officer John Lee. Our press release and shareholder letter are available on our Investor Relations website and a replay of this update will also be available following the conclusion of today's call. We intend to use our Investor Relations website as a means of disclosing certain material information and complying with disclosure obligations under SEC Regulation FD from time to time. As a reminder, today's call is being webcast live and recorded. Before we begin today's remarks and question and answer session, I would like to remind you that certain statements made during this call may relate to future events and expectations and, as such, constitute forward-looking statements. Actual results and performance may differ from those expressed or implied by these forward-looking statements as a result of various risks and uncertainties, including the risk factors discussed in reports filed or to be filed with the SEC. We urge you to consider these risk factors and remind you that we undertake no obligation to update the information provided on this call to reflect subsequent events or circumstances. You should be aware that these statements should not be considered a guarantee of future performance. Furthermore, during this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today's earnings press release except where we are unable, without unreasonable efforts, to calculate certain reconciling items with confidence. With that, I will now turn it over to Tim Chen, our co-founder and CEO. Tim?

Thanks, Zach. We reported revenue of $197 million for the second quarter, up 6% year-over-year. Non-GAAP operating income, or NGOI, of $12 million was above the midpoint of our guidance range. We're in the middle of an AI transition that is changing how people get their answers to their money questions, making now an important time to check in on our long-term objectives. We're investing in building owned audiences by vertically integrating in some areas and by improving how we register and re-engage with users and others. While the story is still being written, we are confident because of the assets we have in place. A trusted brand, a large audience, The success we are seeing in vertical integration plays across our brokering and advisory business lines is giving us conviction to start investing incremental marketing dollars based on internal rate of return or IRR targets, rather than solely on in-quarter profitability. For the full year 2026, we expect to grow this incremental investment five-fold versus 2025. Despite the longer payback periods associated with these investments, the recurring nature of the relationships produce highly attractive IRRs. We continue to optimize for positive in-quarter profitability for most of our business lines, but in the future we envision extending these IRR-based investments more broadly across our business. In our more traditional marketplace business, we continue to deliver more relevant and personalized offers to consumers while helping financial institutions meet their growth objectives. We are making it easier for consumers to find the financial products that best meet their needs. Product improvements unlocked significant volume growth in recent quarters, helping to drive the $12 million year-over-year increase in personal loans revenue delivered in the second quarter. Our relentless focus on efficiency is allowing us to stay nimble in this environment and to continue delivering solid profitability. We also continue to generate strong, free cash flow. enabling us to fund investments in our owned audience strategy while maintaining a strong bond sheet. And now I will pass it over to John to cover our financial results in more detail.