QuinStreet reported a strong sequential and notable year-over-year lift in QQ4 2024 revenue, driven by higher activity in its online performance marketing platform. Revenue reached $198.3 million, up 17.6% QoQ and 52.2% YoY, while gross profit rose to $17.4 million and gross margin expanded to approximately 8.8%. Despite the top-line strength, the company posted an operating loss of about $1.4 million and a net loss of $2.16 million for the quarter, reflecting ongoing investments in capability and client mix. Positive free cash flow of roughly $12.9 million and a net cash position (net debt of about $39.5 million) underpin balance sheet resilience and liquidity to fund growth initiatives. Management commentary was not included in the provided data, so the assessment relies on the disclosed P&L, cash flow, and balance sheet dynamics to gauge near-term earnings quality and longer-term leverage of QuinStreet’s performance-marketing model.