NerdWallet advertising spend, FY2025
NerdWallet (NRDS) reported $486M of advertising expense for the fiscal year ended Dec 31, 2025. That is 58.1% of revenue of $837M. Up 31.4% from FY2024.
Key facts
- Ad spend is 4.6x its FY2020 level ($107M), faster than revenue (3.4x).
- FY2025 is the highest year on file, going back to FY2019.
- Largest increase +84.7% in FY2021.
- Ad spend has risen 6 years in a row.
- Ad spend is 58.1% of revenue, up from 43.5% in FY2020.
- NerdWallet spends more on advertising than 61% of the 336 US-listed companies tracked. Its ad-to-revenue ratio is 11x the median of 5.2%.
Ad spend by fiscal year
Ad spend as % of revenue
History
Download CSV| Fiscal year | Period end | Ad spend | YoY | Revenue | Ad / revenue | Tag | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | $486M | +31.4% | $837M | 58.1% | AdvertisingExpense | 10-K Feb 25, 2026 |
| FY2024 | Dec 31, 2024 | $370M | +25.7% | $688M | 53.9% | AdvertisingExpense | 10-K Feb 25, 2026 |
| FY2023 | Dec 31, 2023 | $295M | +5.7% | $599M | 49.2% | AdvertisingExpense | 10-K Feb 25, 2026 |
| FY2022 | Dec 31, 2022 | $279M | +41.4% | $539M | 51.8% | AdvertisingExpense | 10-K Feb 19, 2025 |
| FY2021 | Dec 31, 2021 | $197M | +84.7% | $380M | 52.0% | AdvertisingExpense | 10-K Feb 20, 2024 |
| FY2020 | Dec 31, 2020 | $107M | +23.2% | $245M | 43.5% | AdvertisingExpense | 10-K Feb 23, 2023 |
| FY2019 | Dec 31, 2019 | $86.7M | n/a | $228M | 38.0% | AdvertisingExpense | 10-K Mar 24, 2022 |
What the figure is
Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).
Ad spend is 58.1% of revenue. A ratio of 50 to 100% is typical for lead-gen and marketplace businesses that buy traffic.
Compared with similar spenders
The 6 companies closest to NerdWallet in latest-year ad spend.
| Rank | Company | Ad spend | Ad / revenue | YoY | Fiscal year |
|---|---|---|---|---|---|
| 126 | Deckers Outdoor | $496M | 9.1% | +14.7% | FY2026 |
| 127 | PVH | $496M | 5.5% | +3.2% | FY2026 |
| 128 | Bausch & Lomb | $495M | 9.7% | -6.3% | FY2025 |
| 129 | Ulta Beauty | $491M | 4.0% | +13.8% | FY2026 |
| 130 | NerdWallet | $486M | 58.1% | +31.4% | FY2025 |
| 131 | Maplebear (Instacart) | $485M | 13.0% | +6.1% | FY2025 |
| 132 | Block (Square, Cash App) | $478M | 2.0% | +41.5% | FY2025 |
Full ranking of 336 companies · Biggest increases #48 · Highest ad-to-revenue #3 · Up 5+ years in a row #27
Questions
How much does NerdWallet spend on advertising?
NerdWallet spent $486M on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 10-K filed Feb 25, 2026.
What percentage of revenue does NerdWallet spend on advertising?
58.1% of revenue in fiscal 2025 ($486M of $837M). The median across the 336 companies tracked is 5.2%.
Is NerdWallet spending more on advertising?
Yes. Ad spend rose 31.4% in fiscal 2025 from fiscal 2024. It has risen 6 years in a row.
How does NerdWallet rank by advertising spend?
#130 of 336 US-listed companies with $100M or more in ad spend, ranked on each company's latest fiscal year.
What does NerdWallet's advertising figure include?
Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).
Source
- Filing
- 10-K for FY2025, filed Feb 25, 2026
- Accession number
0001625278-26-000014- Company
- NERDWALLET, INC., CIK 1625278, SIC 7374 (Services-Computer Processing & Data Preparation)
- Data
- SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
- Cite
- NerdWallet advertising spend, FY2019-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 10-K filed Feb 25, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/nerdwallet/advertising-spend/
- Download
- CSV, all years · CSV, all 336 companies