Outbrain, Inc. ( (OB) ) has released its Q3 earnings. Here is a breakdown of the information Outbrain, Inc. presented to its investors.
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Outbrain, Inc. is a prominent technology platform that enhances business outcomes by engaging users across the Open Internet, leveraging AI and machine learning across over 8,000 online properties worldwide.
Outbrain has reported its financial results for the third quarter of 2024, achieving positive outcomes by meeting guidance for Ex-TAC gross profit and surpassing expectations for Adjusted EBITDA. This marks the fifth consecutive quarter of positive cash flow, indicating sustained profitability and improved margins.
Key highlights from the third quarter include a 5% increase in Ex-TAC gross profit to $59.7 million and a 12% rise in Adjusted EBITDA to $11.5 million, driven by a 60% year-to-date growth in advertiser spending on Outbrain DSP. Additionally, the company witnessed a 6% growth in total advertiser spend and continued success in expanding its premium supply partnerships. Outbrain also announced the beta launch of ‘Moments’ to enhance user interaction with media content through vertical video browsing.
The company is optimistic about its future, raising its outlook for Adjusted EBITDA for the full fiscal year 2024. With the anticipated closure of the Teads acquisition in early 2025, Outbrain is positioned to capitalize on new opportunities and further strengthen its value proposition in the Open Internet sector.
