Shares of personal finance company NerdWallet Inc. (NRDS) surged over 5% on Tuesday, October 30, fueled by the company's impressive third-quarter 2024 financial performance and strong growth prospects.

For the quarter ended September 30, NerdWallet reported revenue of $191.3 million, a robust 25% increase year-over-year. This growth was primarily driven by the company's surging insurance products revenue, which saw a remarkable 916% year-over-year jump, and a 12% increase in revenue from the small and medium-sized business (SMB) vertical.

The company's profitability also improved significantly, with non-GAAP operating income reaching $22.9 million, up from $9.5 million in the prior-year quarter. NerdWallet attributed this strong performance to increased operational efficiency and disciplined cost management measures.

In addition to the stellar financial results, investors were also encouraged by NerdWallet's announcement of a new $25 million share repurchase program, following the completion of its previous buyback plan. This move underscores the company's confidence in its future growth prospects and commitment to enhancing shareholder value.

NerdWallet's recent acquisition of mortgage broker Next Door Lending is expected to further bolster its growth trajectory. This strategic move is anticipated to improve the company's mortgage product economics and build recurring customer relationships, similar to its previous acquisition of small business loan broker Fundera in 2020.