QuinStreet Inc (QNST)

Gross profit margin

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Gross profit (ttm)	US$ in thousands	110,871	100,454	86,903	67,002	46,246	39,412	42,139	43,824	48,523	49,684	46,737	47,976	53,731	60,547	66,843	71,597	70,532	63,770	57,836	56,088
Revenue (ttm)	US$ in thousands	1,093,711	1,029,978	928,723	768,810	613,514	545,505	549,589	560,954	580,624	596,814	574,801	566,084	582,099	586,795	589,189	598,826	578,487	544,250	519,861	502,994
Gross profit margin		10.14%	9.75%	9.36%	8.72%	7.54%	7.22%	7.67%	7.81%	8.36%	8.32%	8.13%	8.48%	9.23%	10.32%	11.34%	11.96%	12.19%	11.72%	11.13%	11.15%

June 30, 2025 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $110,871K ÷ $1,093,711K
= 10.14%

The gross profit margin of QuinStreet Inc has exhibited notable fluctuations over the specified period. Starting at approximately 11.15% on September 30, 2020, the margin experienced minimal variation around the 11% mark through the end of 2021, with a slight increase peaking at 12.19% on June 30, 2021. During this period, the gross profit margin demonstrated relative stability, indicating a consistent margin on sales.

However, a downward trend became evident commencing in early 2022, with the margin declining to approximately 10.32% by March 31, 2022, and continuing to decrease significantly to a low of around 8.13% on December 31, 2022. This decline persisted into 2023, with the margin remaining under 9%, reaching a low of approximately 7.22% on March 31, 2024. The trend toward lower gross profit margins suggests increased costs relative to sales or reduced profitability on their core revenue.

In the more recent period, from mid-2024 onward, there is a discernible recovery in the gross profit margin, which increased to approximately 8.72% on September 30, 2024, and further rose to about 10.14% by June 30, 2025. This upward movement indicates an improved ability to maintain or generate higher gross profit margins, reflecting possible operational efficiencies, pricing strategies, or changes in product mix.

Overall, QuinStreet Inc’s gross profit margin has experienced a significant decline from the mid-2021 levels, reaching lows in late 2022 and early 2024, followed by a partial recovery in subsequent quarters. This trend highlights periods of decreasing profitability on sales that may be driven by external competitive pressures, cost increases, or strategic shifts, with recent data suggesting a potential stabilization or improvement in gross profitability.