Financial Performance - Total revenue increased by 18% year-over-year, from $25.9 million in Q1 2022 to $30.5 million in Q1 2023, primarily due to the full inclusion of the TVS business [223]. - Adjusted EBITDA for Q1 2023 was $145,000, a significant improvement from a loss of $3,009,000 in Q1 2022, resulting in an Adjusted EBITDA margin of 0.5% compared to (11.6)% in the previous year [244]. - The company reported a net loss of $8,563,000 in Q1 2023, with a net loss margin of (28)%, compared to a net loss of $7,449,000 and a margin of (29)% in Q1 2022 [244]. - Net cash provided by operating activities was $368,000 in Q1 2023, a turnaround from net cash used of $7,213,000 in Q1 2022 [263]. Revenue Sources - CTV accounted for 54% of all video impressions served by Innovid in Q1 2023, representing a 13% year-over-year increase in CTV video impressions [205]. - Innovid's revenue from international customers was approximately 9% of total revenue in 2023 [207]. - The majority of the Company's revenues are derived from ad serving services, focusing on standard, interactive, and data-driven digital video advertising [301]. Expenses - Research and development costs were $7.1 million, representing 23% of total revenue in Q1 2023, down from 28% in Q1 2022 [225]. - Sales and marketing expenses increased by $1.3 million, or 12%, from $10.4 million in Q1 2022 to $11.6 million in Q1 2023, driven by personnel costs following the TVS acquisition [251]. - General and administrative expenses decreased by $1.8 million, or (16)%, from $11.5 million in Q1 2022 to $9.7 million in Q1 2023, mainly due to reduced professional and legal fees related to the TVS acquisition [252]. - Interest expenses for Q1 2023 were $0.4 million, up from $0.1 million in Q1 2022, impacting the finance income, net [262]. Cash and Liquidity - As of March 31, 2023, Innovid had cash, cash equivalents, and restricted cash of $45.4 million and net working capital of $66.8 million [229]. - Innovid utilized $20.0 million of its $50.0 million credit line as of March 31, 2023 [233]. - The company anticipates that existing cash and cash equivalents, along with expected net cash from operating activities, will be sufficient to meet cash needs for at least the next 12 months [258]. Tax and Compliance - The effective tax expense increased by $2.9 million from $(0.04) million in Q1 2022 to $2.8 million in Q1 2023, with effective tax rates of -47.97% and 0.5% for the respective periods [255]. - As of March 31, 2023, the company was in compliance with all covenants of its New Revolving Credit Facility, which requires maintaining an adjusted quick ratio of at least 1.30 to 1.00 [261]. Asset Management - The Company performed an annual impairment test for goodwill as of October 1, 2022, and determined that the fair value of the reporting unit exceeded its carrying amount, indicating no impairment [289]. - During the three-month period ended March 31, 2023, the Company tested its asset groups for recoverability and concluded that no impairment should be recognized [315]. - The Company evaluated its deferred tax assets and established a valuation allowance for portions not likely to be realized, considering cumulative losses and future taxable income expectations [292]. Accounting Policies - The Company recognizes revenues related to measurement services over time, as customers simultaneously receive and consume the benefits provided [305]. - The Company accounts for warrants based on specific terms and authoritative guidance, assessing whether they are equity-classified or liability-classified instruments [310]. - Acquisition-related expenses are expensed as incurred, reflecting costs associated with the acquisition of TVS [316]. - The Company capitalizes software development costs from the time the preliminary project stage is completed and amortizes these costs over an estimated useful life of three years [319]. - The Company applies the practical expedient in ASC 606, not adjusting the promised amount of consideration for significant financing components if the payment period is expected to be one year or less [307].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 Commission file number 001-40048 Innovid Corp. (Exact name of registrant as specified in its charter) ____________________________ Delaware 87-3769599 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 30 Irving Place, 12th Floor ...

Innovid Corp. (NYSE:CTV) Q4 2022 Earnings Conference Call February 24, 2023 8:30 AM ET Company Participants John T. Williams - Head of Investor Relations Zvika Netter - Co-Founder, CEO Tanya Andreev-Kaspin - CFO Tal Chalozin - Founder, CTO Conference Call Participants Andrew Boone - JMP Securities Shyam Patil - Susquehanna Shweta Khajuria - Evercore ISI Operator Greetings. Welcome to the Innovid's Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A quest ...

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 September 30, 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. ...

Financial Data and Key Metrics Changes - Revenue increased by 47% year-over-year to $34.5 million, exceeding EBITDA expectations [7][8] - The company generated a net loss of $11.8 million but achieved a positive adjusted EBITDA of $2.9 million, surpassing the expected range of negative $2 million to breakeven [8][34] - Adjusted EBITDA margin for the third quarter was 8%, an increase from the previous year [34] Business Line Data and Key Metrics Changes - Revenue from measurement services grew to 23% of total quarterly revenue, up from 1% in Q3 2021, reflecting a 23% growth on a pro forma basis [28] - Ad serving and personalization services contributed 77% of total revenue, with personalization growing at a rate of 24% year-over-year [29] - CTV impression volume accounted for 54% of all video impressions, up from 46% the previous year, with a year-over-year growth of 36% [30] Market Data and Key Metrics Changes - U.S. revenue accounted for 92% of total revenue, growing 48% year-over-year, while international revenue grew 38% year-over-year, contributing 8% of quarterly revenue [31] - The company noted that the strengthening of the U.S. dollar impacted international revenue [31] Company Strategy and Development Direction - The company aims to expand its platform across delivery, personalization, and measurement, focusing on partnerships with major streamers like Disney Plus and Netflix [10][12] - Innovid is positioned to unify advertising across platforms, addressing fragmentation in the CTV advertising market [13] - The company plans to continue investing in the growing CTV space while maintaining a pragmatic approach to cost management [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to thrive despite economic uncertainties, citing a strong market position in CTV [9][26] - The company is taking proactive measures to monitor and manage costs in light of macroeconomic conditions [26] - For Q4 2022, the company expects revenue in the range of $34 million to $36 million, reflecting year-over-year growth of 31% to 39% [38] Other Important Information - The company plans to host its first Investor Day on November 16, 2022, in New York City [7] - The total operating expenses for Q3 were $38.6 million, growing 31% year-over-year, primarily due to the inclusion of TVSquared [32] Q&A Session Summary Question: What is the outlook for organic growth in Q3 and how does it compare to CTV growth? - Management indicated that they are not seeing a decline in market share and maintain a high customer retention rate, with CTV continuing to grow at 36% year-over-year despite headwinds [41][42] Question: How does the company view the opportunity with Netflix and the impact of new AVOD services? - Management sees Netflix's shift to an ad-based model as a significant positive, allowing for increased volume and participation from brands [49][50] Question: What are the top reasons for not adopting InnovidXP? - Management noted that adoption can take time due to existing relationships with other measurement providers and the nature of enterprise sales cycles [68] Question: What is the current state of ad campaigns across different verticals? - Management observed that while there is volatility in ad spending, there is no significant trend affecting specific verticals, with adjustments being more tactical on a brand-by-brand basis [72]

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 June 30, 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. (Exa ...

| --- | --- | |-----------------------|--------| | | | | CTV LISTED NYSE | | | Q2 2022 Earnings Call | | | | INNOVD | | August 10, 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 forwardlooking statements as pred ...

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 ...

Financial Performance - Innovid Corp. reported revenues of $90.291 million for the year ended December 31, 2021, representing a 31% increase from $68.801 million in 2020[477]. - The company's gross profit for 2021 was $72.506 million, up from $56.436 million in 2020, indicating a strong growth in profitability[477]. - Operating expenses increased to $78.355 million in 2021, compared to $55.314 million in 2020, driven by higher research and development and sales and marketing costs[477]. - Innovid Corp. recorded a net loss of $11.472 million for 2021, compared to a net loss of $812,000 in 2020[477]. - Net loss for the year ended December 31, 2021, was $11,472,000, compared to a net loss of $812,000 in 2020 and $7,334,000 in 2019[486]. Assets and Liabilities - The total assets of Innovid Corp. as of December 31, 2021, were $205.532 million, significantly up from $59.458 million in 2020[473]. - Current assets increased to $195.249 million in 2021, compared to $51.623 million in 2020, reflecting improved liquidity[473]. - Total liabilities rose to $44.277 million in 2021, compared to $22.191 million in 2020, indicating increased financial obligations[473]. - The company had a total stockholders' equity of $161.255 million as of December 31, 2021, compared to a deficit of $49.730 million in 2020[473]. Cash Flow and Investments - Cash used in operating activities for 2021 was $2,421,000, an improvement from $4,159,000 in 2020 and $8,982,000 in 2019[486]. - Total cash, cash equivalents, and restricted cash at the end of 2021 was $157,158,000, up from $16,092,000 at the end of 2020[486]. - The company’s cash flows from investing activities totaled $3,687,000 used in 2021, compared to $948,000 used in 2020[486]. Research and Development - Innovid Corp. plans to continue investing in research and development to enhance its product offerings and market position[477]. Market Expansion and Acquisitions - The company is focused on expanding its market presence and exploring potential acquisition opportunities to drive growth[477]. - The Company acquired Dynamo Creative for a total consideration of $5,000, to be paid in three installments: $4,250 on the Closing Date, $250 within 45 days, and $500 within 15 months after the Closing Date[609]. - As of December 31, 2021, the net assets acquired from Dynamo Creative amounted to $5,000, with total assets acquired valued at $5,280 and assumed liabilities of $280[610]. Stock and Warrants - The company had a total of 119,017,380 common shares outstanding as of December 31, 2021[486]. - The Company may redeem outstanding Public Warrants at a price of $0.01 per warrant if the closing price of the Innovid Corp. ordinary shares equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period[627]. - The fair value of the Company Warrants as of December 31, 2021 was $18,972, down from $22,791 at the closing of the transaction[639]. Accounting and Compliance - The Company will adopt new accounting standards effective in 2022, including lease accounting, which will require establishing liabilities and right-of-use assets of approximately $5,500 and $3,900 respectively[584]. - The Company is in compliance with all covenants, maintaining an adjusted quick ratio of at least 1.20:1.00[648][649]. Miscellaneous - The Company has subsidiaries in the US, Israel, Argentina, the UK, and Australia, indicating a broad market presence[495]. - The Company recognized an accretion of preferred stocks to redemption value of $77,063,000 in 2021[486].