Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q ____________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40048 ____________________________ Innovid Corp. (Ex ...

Innovid Corp. (NYSE:CTV) Q1 2022 Earnings Conference Call May 6, 2022 8:30 AM ET Company Participants Brinlea Johnson - IR Zvika Netter - Co-Founder and CEO Tanya Andreev-Kaspin - CFO Tal Chalozin - Co-Founder and CTO Conference Call Participants Andrew Boone - JMP Securities Shweta Khajuria - Evercore ISI Dan Salmon - BMO Capital Laura Martin - Needham Shyam Patil - Susquehanna Operator Greetings. Welcome to the Innovid Q1 2022 Earnings Call. At this time, all participants are in a listen-only mode. A ques ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.0001 per share CTV New York Stock Exchange Warrants to purchase one share of common stock, each at an exercise price of $11.50 per share CTVWS New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-K ____________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXC ...

| --- | --- | --- | |------------------------|-------|-------| | | | | | INVESTORS PRESENTATION | | | | | | | | March 1, 2022 | | | DISCLAIMERS Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1996. The Company's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions ...

Financial Data and Key Metrics Changes - Full year 2021 revenue grew 31% year-over-year to $90.3 million, while adjusted EBITDA increased by 110% year-over-year [15][37] - Q4 2021 revenue increased by 13% year-over-year to $26 million, with CTV representing 45% of total revenue and growing by 48% in 2021 [37][38] - Gross profit for Q4 was $20.6 million, a 7% year-over-year increase, with a gross margin of 79% [41] - Net loss in Q4 was $7.6 million, with an adjusted EBITDA margin of 7% for Q4 and 6% for the full year [43] Business Line Data and Key Metrics Changes - CTV accounted for the largest share of revenue, with a growth rate of 48% in 2021, while mobile contributed 39% and grew by 21%, and desktop contributed 16% with a growth of 19% [37][38] - Advanced creative revenue grew 49% year-over-year due to increased adoption of personalization products [18] - International revenue grew 39% year-over-year to $8.4 million, representing 9% of total revenue [21][39] Market Data and Key Metrics Changes - U.S. CTV ad spending reached $14.4 billion in 2021, accounting for 18.2% of total TV spending, projected to triple by 2025 [11][10] - Non-U.S. CTV volume grew 137% year-over-year, indicating significant global adoption potential [12] Company Strategy and Development Direction - The company aims to reimagine TV advertising by providing infrastructure for personalized, data-driven advertising [9][10] - Four primary growth engines identified: delivery volume growth, product upsell, geographic expansion, and expanding client base [13] - The acquisition of TVSquared is expected to enhance measurement capabilities and expand market presence [29][30] Management Comments on Operating Environment and Future Outlook - Management noted a temporary slowdown in volume growth during Q4 due to supply chain issues affecting major clients, particularly in the automotive sector [24] - Despite short-term challenges, the company remains optimistic about the long-term shift of TV advertising budgets to CTV [26] - The company anticipates continued growth in CTV ad spend driven by new streaming platforms and sports broadcasting changes [26][27] Other Important Information - The company reported a record high retention rate of 97% for core platform clients, indicating strong customer loyalty [22][44] - Cash and cash equivalents at the end of 2021 were $157 million, following a deSPAC transaction that generated approximately $150 million [46] Q&A Session Summary Question: What is the total investment in the measurement line extension for 2022? - Management indicated that a significant portion of resources, between a third to half, will be dedicated to extending the measurement line of business, particularly following the acquisition of TVSquared [54] Question: What is the expected return on investment from the measurement spending? - Management plans to provide a pro forma outlook on revenue streams post-acquisition closure, emphasizing the strategic importance of measurement for client acquisition and retention [55] Question: What is the outlook for the automotive vertical in Q1? - Management noted that while supply chain issues persist, they expect growth rates in CTV to return to normal levels as inventory issues resolve [58] Question: How does TVSquared differentiate from other measurement players? - Management highlighted that Innovid's edge lies in its ability to collect census-level data through its ad delivery platform, providing a more accurate measurement solution [66] Question: What is the opportunity in China? - The company is entering the Chinese market to support global clients' measurement needs, rather than local sales, due to demand from existing multinational clients [75] Question: How do measurement products currently monetize? - TVSquared's revenue model is based on annual contracts rather than CPM, and management plans to integrate CTV measurement capabilities into a unified pricing model post-acquisition [79] Question: What is Innovid Key? - Innovid Key is an identity framework that connects multiple identifiers to first-party data, enhancing ad exposure measurement [81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-40048 ION ACQUISITION CORP 2 LTD. (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other jurisd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-40048 ION ACQUISITION CORP 2 LTD. (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-40048 ION ACQUISITION CORP 2 LTD. (Exact name of registrant as specified in its charter) | --- | --- | |------------------------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______TO _______ COMMISSION FILE NUMBER 001-40048 ION ACQUISITION CORP 2 LTD. (Exact name of registrant as specified in its charter) | --- | --- | |------------------------- ...