Day 53: Is the Market Celebrating Improvement or Ignoring the Questions?
As I write this, NXDR is up.
The market is clearly reacting positively to Nextdoor's latest earnings report.
I understand why.
The company reported a smaller loss than in previous quarters, along with revenue growth and improved operating metrics.
As a shareholder, I'm glad to see progress.
But I also see it differently.
To me, it's a bit like a marathon where you've consistently finished last and this year you finish second-to-last.
That's an improvement.
It deserves acknowledgment.
But you still didn't win the race.
Nextdoor is still reporting a GAAP net loss.
The company has now been operating for approximately 15 years, and while CEO Nirav Tolia described this as the company's best quarter, I believe it's also fair for shareholders to ask what "best" should ultimately look like.
For me, financial performance is only part of the equation.
Today also marks Day 53 since I requested a study from Jacob Chavis.
Fifty-three days later:
No study.
No acknowledgment.
No explanation.
No response.
I've also noticed that the last Nextdoor Insights article appears to have been published on July 6, 2026.
As a shareholder, I naturally wonder:
Are new studies still being produced?
Has the research strategy changed?
Is the Insights program on pause?
I don't know.
That's exactly why I've continued asking.
This isn't about criticizing improvement.
It's about asking whether improving financial results should also be accompanied by improvements in communication, transparency, and accountability.
Potential alone doesn't create long-term shareholder value.
Execution does.
Communication does.
Culture does.
One quarter doesn't define a company, just as one stock move doesn't define its future.
I'll continue recognizing progress when I see it, and I'll continue asking questions when I believe they're warranted.
That's what engaged shareholders should do.
Join the discussion at NielFlamm.com/blog. Leave some feedback—I'd love to hear from you.
Day 52: Better Numbers. The Same Questions.
Nextdoor released its Q2 2026 financial results, and there are positive developments that deserve recognition.
Revenue increased to $75 million, up 15% year over year.
Platform Weekly Active Users grew to 22.9 million, a 5% increase.
The company also narrowed its GAAP net loss to $2 million, compared with $15 million a year ago, reported $10 million in Adjusted EBITDA, and maintained $378 million in cash.
As a shareholder, I'm glad to see progress.
Credit should be given where it's due.
However, one number still stands out:
Nextdoor is still losing money.
The loss is much smaller, but it's still a loss. Financial results reflect leadership decisions about where to invest, cut costs, monetize the platform, and allocate capital.
Today marks Day 52 since I requested a study from Jacob Chavis.
Fifty-two days later, I still haven't received:
An acknowledgment.
A timeline.
Another observation caught my attention.
The last Nextdoor Insights article appears to have been published on July 6, 2026.
I'm still waiting on a response from Jacob Chavis, and I haven't seen a new Insights article in about a month.
Those may be unrelated.
As a shareholder, I have a few questions.
Has Nextdoor shifted away from publishing Insights?
Are new studies still being produced?
I don't know.
That's why I've continued asking.
A simple response—even "the study isn't public"—would provide clarity. Silence leaves shareholders filling in the blanks.
I've written extensively about what I believe are three major challenges:
A communication culture that doesn't adequately engage with shareholders.
An unpaid moderation model that creates inconsistent user experiences.
Strategic decisions that deserve scrutiny, from monetization to capital allocation.
The earnings report shows improvement, and I hope that trend continues.
I genuinely want Nextdoor to succeed.
But I also believe leadership decisions influence profitability, corporate culture, and shareholder confidence.
I've said this repeatedly because I believe it:
Communication isn't measured when everything is going well. It's measured by how a company responds when someone asks a simple question.
I'll continue acknowledging progress while also raising concerns.
That's what I believe engaged shareholders should do.
Join the discussion at NielFlamm.com/blog. Leave some feedback—I'd love to hear from you.
Day 50: Three Posts, One Question—Where's the Shareholder Value?
Today, Nextdoor published three LinkedIn posts.
Oh, and NXDR is up about $0.05 today.
I mention the stock price because it's relevant to the discussion—not because one day's movement changes my outlook.
1. The Q2 Earnings Call
Nextdoor announced its 2026 Q2 Earnings Call and invited shareholders to submit questions.
On paper, that's encouraging.
In reality, I don't expect a question from an everyday shareholder to reach the executives during the call.
Why?
Because today is Day 50 since I requested a study from Jacob Chavis.
Fifty days.
No acknowledgment.
No response.
If a shareholder can't receive a reply to a straightforward request over 50 days, why should I believe an individual shareholder's question will make it to the floor while institutional investors are waiting in line?
2. Emergency Management
The second post was a repost highlighting emergency management.
I applaud Nextdoor for sharing information that can help keep neighborhoods informed and safe.
That aligns with what I believe the platform should do.
While it wasn't original content, it promoted something worthwhile.
3. A Day in the Life of an Intern
The third post featured design intern Bekah Hufnagel, showcasing a day in the life at Nextdoor's new Dallas headquarters.
It highlighted beautiful office space, food, amenities, activities, and what appeared to be an outstanding intern experience.
Good for Bekah.
Every intern deserves to have a meaningful experience.
It also made me reflect on my own summer internship with the MTA in Brooklyn, New York.
There were no catered lunches.
No coffee bars.
No games.
No flashy headquarters.
The biggest perk I remember was receiving a subway pass so I could travel from Harlem to work each day.
Times change, and workplaces evolve.
But as a shareholder, I still ask the same question:
Is the squeeze worth the juice?
How many of these interns will ultimately join Nextdoor full-time?
How many will build long-term careers there?
What measurable return does this investment provide?
These experiences don't happen by accident.
Leadership approves budgets.
Leadership establishes priorities.
Leadership decides where capital is invested.
Nirav Tolia himself appeared with the interns, as shown on his X account, reinforcing the importance of the program.
Meanwhile, shareholders continue waiting for a return.
Nextdoor currently pays no dividend.
My concern isn't that interns are having a positive experience.
It's whether the company is allocating resources in ways that create lasting value for employees, users, advertisers, and shareholders alike.
That's the question I continue asking.
Join the discussion at NielFlamm.com/blog. Leave some feedback—I'd love to hear from you.
Day 47: Leadership Means Knowing When to Pivot
If you're not familiar with how I got here, I'm Nirav Tolia, Jacob Chavis, Investor Relations, and Communications. The story began 46 days ago. You can catch up at NielFlamm.com/blog.
Earlier today, I was talking with a friend about this journey.
In recovery, we're taught to be mindful of trying to impose our will on others. That conversation made me stop and think.
Am I trying to force my will on this situation?
I hope not.
I'm holding the leaders and representatives of a company I'm invested in accountable for how they communicate and engage with shareholders.
That thought led me to two videos the algorithm served my way.
The first was from Michael Girdley discussing leadership lessons from Vito Corleone in The Godfather.
🎥 https://www.facebook.com/share/v/1dAAxxNtjr/
The takeaway:
Leaders have to know when to pivot.
That immediately made me think about Nextdoor.
I'm seeing the same messaging repeated, and users and shareholders continue raising the same questions about communication, moderation, and engagement.
The second video was about the Amazon Fire Phone.
🎥 https://www.facebook.com/reel/1025069253212790
Amazon tried to enter a market outside its core strengths. The lesson wasn't about phones—it was about staying focused on what you do best.
Again, this is my opinion as a shareholder.
I believe Nextdoor risks trying to become something it isn't instead of excelling at what made it unique.
A platform built to connect neighbors should make communication easy, moderation consistent, and feedback welcome.
Instead, I continue to question a moderation model built around unpaid volunteers, an appeals process many users question, and communication channels where feedback often goes unanswered.
Those concerns are among the reasons I remain bearish on NXDR.
As of this writing, NXDR is down approximately 1.56% ($0.04) to about $2.22 per share. Markets move for many reasons, but I believe investors are watching leadership, execution, and whether the company is willing to adapt.
For full transparency, I have not shorted NXDR. I own shares of the company. I have no financial incentive to see the stock decline. I want Nextdoor to succeed because I believe it still has tremendous potential.
I believe realizing that potential requires leadership willing to pivot.
Join the discussion at NielFlamm.com/blog. Leave some feedback—I'd love to hear from you.
Day 46: Welcome to the Nextdoor Weekend
It's 6:00 a.m. EDT on a Thursday.
Like many Thursday mornings, I was up early checking my fraternity's lottery pool tickets.
Spoiler alert...
We didn't win millions.
I know. Shocking.
The odds continue to be very disrespectful toward our group.
After posting the results and setting up the next pool on Discord, I had another thought.
I said to myself...
"Self, let's see if anyone from Nextdoor finally sent an email."
So I checked.
And...
Nope.
If you've been following this journey, you already know the story.
If you haven't, you can catch up at NielFlamm.com/blog.
Today isn't about rehashing the timeline.
It's about what Day 46 represents.
Forty-six days without receiving the study I requested.
Forty-six days without a response from Jacob Chavis.
Forty-six days of documenting my experience and asking questions about communication, moderation, and corporate culture.
Today is Thursday.
For many people, it's Friday Eve.
I've always called it "Pre-Friday."
But in the world of Nextdoor...
It also feels like the beginning of the weekend.
Because when you've gone 46 days without a reply, one more business day probably isn't changing the outcome.
That doesn't mean I'll stop asking.
Communication shouldn't take weekends off.
Neither should accountability.
I'll keep hope that one day, someone at Nextdoor decides the conversation is worth having.
Join the discussion at NielFlamm.com/blog. I'd love to hear your thoughts.