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].

Company Overview - Innovid is a leading independent ad delivery and measurement platform for Connected TV (CTV)[12, 20] - The company empowers advertisers to shift investment from linear TV to connected TV[12] - Innovid has a global presence with 575+ employees, founded in 2007, and 16 offices worldwide[12] Market Opportunity - The global TV ad spending is a $200 billion market[10] - Estimated global ad spending on CTV is between $15 billion and $20 billion[10] - CTV is shifting from linear TV, creating opportunities and challenges[10, 11] Business Performance - In 2021, Innovid's revenue reached $90.3 million, representing a 31% year-over-year growth[37, 38] - CTV revenue grew by 48% year-over-year in 2021[35, 36] - CTV accounted for 45% of total revenue in 2021[35, 36] - The company's gross profit for 2021 was $72.5 million, with a gross margin of 80%[35, 38] - Adjusted EBITDA for 2021 was $5.4 million, resulting in a 6% margin[35, 38] Growth Strategy - Multiple levers to drive high growth including expanding client base, volume growth from existing customers, upselling additional modules, and geographic expansion[24] - Net Revenue Retention (NRR) Rate is calculated as percentage of revenue retained from existing core platform customers, including expansion revenue, downgrades, and churn[27] - The company's core client retention rate is high, with a Net Revenue Retention rate of 121% in 2021[27] Acquisition - Innovid acquired TVSquared for $100 million in cash and 12.5 million shares of Innovid[32] - TVSquared generated approximately $20-22 million in revenue in 2021, with revenue growth exceeding 40% year-over-year[33] Financial Guidance - For FY 2022, Innovid anticipates organic revenue between $110 million and $115 million, representing a 22-28% year-over-year growth[39]

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 ...