Table of Contents 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, 2025 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 001-40643 Teads Holding Co. 111 West 19th Street, New York, NY 10011 (Address of Principal Executive Office ...

Financial Data and Key Metrics Changes - Revenue in Q2 was approximately $343 million, reflecting an increase of 60% year over year on an as-reported basis, primarily driven by the impact of the acquisition [20] - Adjusted EBITDA for Q2 was $27 million, representing an increase of nearly 2.5 times compared to Q1 [24] - Free cash flow was $19 million in the quarter, with adjusted free cash flow at $22 million after excluding transaction costs [24] Business Line Data and Key Metrics Changes - The US market experienced a year-over-year decline of more than 20%, which was identified as a significant headwind [9] - CTV business saw 80% year-over-year growth in Q2 on a pro forma basis, indicating strong demand in this segment [10] - The retail media front announced a partnership to activate performance campaigns, aiming to grow presence in retail media [11] Market Data and Key Metrics Changes - The company noted softness in key verticals such as consumer goods, automotive, and luxury goods, primarily due to tariff-related uncertainty and softer demand in certain geographies [21] - Despite challenges in the US, other markets in Europe have shown growth, indicating a mixed performance across regions [48] Company Strategy and Development Direction - The company is focused on executing integration decisively and making critical organizational changes to improve effectiveness [5] - Aiming to deliver $40 million in cost savings for 2025, with a full-year run rate of $60 million expected in 2026 [9] - The strategic rationale behind the merger is to build a go-to platform for advertisers seeking scaled, high-quality performance on the open Internet [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic changes made and the potential for market share gains and growth in the second half of the year [19] - There is an expectation of clear momentum building into Q4, despite challenges faced in Q3 [27] - Management is closely tracking leading indicators and believes that the changes implemented will positively impact revenue trends [35] Other Important Information - The company is accelerating investment in its next-generation advertising platform, Teams Ad Manager, expected to launch in H1 2026 [15] - The company has made a deliberate reduction in publishers that do not meet quality standards, resulting in a 5% year-over-year reduction in legacy Outbrain revenues [13] Q&A Session Summary Question: Why not spend all free cash flow on buying in debt? - Management indicated that they used what they were comfortable with in terms of excess cash and are open to more in the future [33] Question: How much of the US decline is structural? - Management noted that the issues are within their control and are tracking leading indicators that are trending up, indicating potential recovery [35] Question: Will the company cut more expenses if top-line growth does not materialize? - Management is currently focused on growth and believes they have the right cost structure to achieve this [38] Question: What is the confidence level for Q4? - Management expressed confidence in the changes made and the potential for improved performance in Q4 based on leading indicators [48] Question: How is the company addressing the impact of AI on traffic? - Management acknowledged the risk but noted that they are continuously improving monetization and tracking the situation closely [55]

Teads Holding Co. Announces Second Quarter 2025 Results Achieved Q2 guidance on both Ex-TAC gross profit and Adjusted EBITDA; Strong cash generation; CTV 80%+ growth year-over-year New York – August [X], 2025 — Teads Holding Co. (Nasdaq: TEAD) ("Teads" or the "Company") announced today financial results for the quarter ended June 30, 2025. Second Quarter 2025 Key Financial Metrics : 1 | | Three Months Ended | | | | | | Six Months Ended | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | June 30, ...

Part I - Financial Information [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Financials reflect the Teads acquisition's impact, showing asset growth funded by debt and a wider net loss due to one-time costs Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $136,312 | $89,094 | +$47,218 | | Goodwill | $587,494 | $63,063 | +$524,431 | | Intangible assets, net | $391,022 | $16,928 | +$374,094 | | **Total Assets** | **$1,688,040** | **$549,213** | **+$1,138,827** | | **Liabilities & Equity** | | | | Accounts payable | $274,060 | $206,920 | +$67,140 | | Long-term debt | $610,816 | $0 | +$610,816 | | **Total Liabilities** | **$1,213,375** | **$317,870** | **+$895,505** | | **Total Stockholders' Equity** | **$474,665** | **$231,343** | **+$243,322** | Condensed Consolidated Statements of Operations (Unaudited) | Metric | Three Months Ended Mar 31, 2025 (in thousands) | Three Months Ended Mar 31, 2024 (in thousands) | Change | | :--- | :--- | :--- | :--- | | Revenue | $286,357 | $216,964 | +32.0% | | Gross Profit | $82,650 | $41,595 | +98.7% | | Loss from operations | ($44,436) | ($6,597) | +573.6% | | Net loss | ($54,843) | ($5,041) | +988.0% | | Net loss per share (basic & diluted) | ($0.70) | ($0.10) | +600.0% | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Three Months Ended Mar 31, 2025 (in thousands) | Three Months Ended Mar 31, 2024 (in thousands) | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($966) | $8,605 | | Net cash used in investing activities | ($546,320) | ($4,229) | | Net cash provided by (used in) financing activities | $596,094 | ($4,270) | - On February 3, 2025, the company completed the acquisition of Teads for approximately **$0.9 billion**, resulting in the recognition of **$501.6 million in goodwill**[54](index=54&type=chunk)[55](index=55&type=chunk)[59](index=59&type=chunk) - The company initiated a restructuring plan post-acquisition, expecting to incur **$16 million to $24 million** in total charges, with **$7.3 million** recorded in Q1 2025[64](index=64&type=chunk)[65](index=65&type=chunk) - The company recorded an impairment charge of **$15.1 million** on intangible assets related to its prior acquisition of 'vi'[77](index=77&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Analysis focuses on the Teads acquisition's impact, highlighting revenue growth offset by significant one-time expenses and new debt - The acquisition of Teads was completed on February 3, 2025, for approximately **$0.9 billion**, making Q1 2025 financials not directly comparable to prior periods[162](index=162&type=chunk)[168](index=168&type=chunk) Key Performance Metrics Comparison | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $286.4M | $217.0M | +32.0% | | Gross Profit | $82.7M | $41.6M | +98.7% | | Net Loss | ($54.8M) | ($5.0M) | +988% | | Ex-TAC Gross Profit (Non-GAAP) | $103.1M | $52.2M | +97.7% | | Adjusted EBITDA (Non-GAAP) | $10.7M | $1.4M | +665% | - The revenue increase was primarily due to **$80.3 million** in incremental revenue from the Teads acquisition, partially offset by a **$10.9 million** decrease from the legacy business[222](index=222&type=chunk) - Operating expenses surged by **163.7% to $127.1 million**, driven by acquisition costs, impairment charges, and restructuring charges[229](index=229&type=chunk)[231](index=231&type=chunk)[232](index=232&type=chunk)[233](index=233&type=chunk) - To finance the acquisition, the company issued **$637.5 million in 10% Senior Secured Notes** and established a new **$100 million** revolving credit facility[175](index=175&type=chunk)[177](index=177&type=chunk)[236](index=236&type=chunk) - As of March 31, 2025, the company had total available liquidity of **$255.9 million**[260](index=260&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=54&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks from foreign currency, interest rates, inflation, and credit - A hypothetical 10% adverse change in weighted-average exchange rates would impact quarterly operating income by **$3.1 million**[287](index=287&type=chunk) - Interest rate risk primarily relates to cash and investments totaling **$155.9 million** and a **$16.2 million** variable-rate facility, while the main **$610.8 million** debt is fixed-rate[289](index=289&type=chunk)[291](index=291&type=chunk)[292](index=292&type=chunk) - The company is exposed to credit risk from accounts receivable and mitigates it by monitoring customer creditworthiness[294](index=294&type=chunk) [Controls and Procedures](index=55&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective, with integration of Teads' internal controls currently underway - The CEO and CFO concluded that as of March 31, 2025, the company's disclosure controls and procedures are **effective**[296](index=296&type=chunk) - The company is integrating the internal controls of Teads, which was not previously subject to Sarbanes-Oxley (SOX) requirements[298](index=298&type=chunk) Part II - Other Information [Legal Proceedings](index=56&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings - The company is **not currently a party to any material legal proceedings**[130](index=130&type=chunk)[300](index=300&type=chunk) [Risk Factors](index=56&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the last annual filing - **No material changes** to risk factors have occurred since the filing of the 2024 Form 10-K[301](index=301&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=56&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company issued 43.75 million unregistered shares for the Teads acquisition and made no share repurchases - **43.75 million shares** of Common Stock issued to Altice Teads as part of the acquisition were exempt from registration under the Securities Act[302](index=302&type=chunk) - As of March 31, 2025, **$6.6 million remained available** for repurchase under the company's share repurchase program, with no shares repurchased during the quarter[134](index=134&type=chunk)[303](index=303&type=chunk) [Other Information](index=57&type=section&id=Item%205.%20Other%20Information) The Chief Operating Officer entered into a Rule 10b5-1 trading plan for the potential sale of company stock - The company's COO, Asaf Porat, entered into a 10b5-1 trading plan for the potential sale of up to **311,036 shares** of Common Stock[306](index=306&type=chunk) [Exhibits](index=58&type=section&id=Item%206.%20Exhibits) This section indexes exhibits filed with the report, including acquisition and financing agreements - The report includes an index of all exhibits filed, such as the amended Share Purchase Agreement and Indenture for the new notes[310](index=310&type=chunk)

Outbrain (OB) Q1 2025 Earnings Call May 09, 2025 08:30 AM ET Company Participants None - ExecutiveDavid Kostman - CEOJason Kiviat - CFOYgal Arounian - Director - Internet Equity ResearchAndrew Boone - Managing DirectorJames Heaney - SVP - Equity Research Conference Call Participants Laura Martin - Senior AnalystZach Cummins - Senior Research Analyst Operator Good day. Welcome to Outbrain Incorporated's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen ...

Financial Data and Key Metrics Changes - Revenue in Q1 was approximately $286 million, reflecting a 32% year-over-year increase, primarily driven by the acquisition of Teads [16] - X TAC gross profit for the quarter was $103.1 million, an increase of 98% year-over-year, indicating that profit growth is outpacing revenue growth [18] - Adjusted EBITDA for Q1 was $10.7 million, representing a greater than 7x increase year-over-year [20] Business Line Data and Key Metrics Changes - The company closed Q1 with more than 50 Joint Business Partnerships (JBTs), including commitments from major brands like Ferrero and Philip Morris International [9] - CTV revenue grew over 100% year-over-year, now representing approximately 5% of total ad spend [12] - The marketing campaign objectives are balanced, with approximately two-thirds of spend on performance campaigns and one-third on branding campaigns [8] Market Data and Key Metrics Changes - The U.S. business, which represents around 30% of total revenue, showed improvement in trends during Q1 [17] - The company has access to over 300 million TV screens globally, with significant partnerships enhancing its CTV offerings [12] Company Strategy and Development Direction - The vision for the new Teads is to create an open Internet advertising platform that connects fragmented channels to drive real business outcomes [5] - The company is focused on integration, efficiency, and execution post-merger, aiming for $60 million in annualized cost savings by 2026 [13] - The strategy includes leveraging proprietary data and AI to optimize advertising outcomes across various platforms [6][14] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is a shortening of planning and buying cycles, they have not seen a meaningful impact on results due to macroeconomic conditions [27] - The company expects to achieve adjusted EBITDA of at least $180 million for the full year 2025, despite uncertainties in the market [24] - Management expressed confidence in capturing market share as advertisers scrutinize their ad spend, aligning with the company's mission [22] Other Important Information - The company recognized $16 million in acquisition-related costs and $7 million in restructuring charges during the quarter [19] - Free cash flow was a use of cash of approximately $7 million, impacted by acquisition-related costs [21] Q&A Session Summary Question: Can you expand on the macro environment and how advertisers are focusing on brand versus performance? - Management observed improvements in demand levels and a positive trend in the legacy Teads business, with performance holding up better than branding [27][28] Question: How much of the JBT wins are a result of the new combination versus existing pipeline? - The growth in JBTs is attributed to the combined value proposition of performance and branding, with significant excitement from clients [35][36] Question: Can you discuss the trends in the legacy Teads business and the opportunity with larger clients? - Management noted month-over-month improvements in the legacy Teads business since the merger, with a focus on gaining more share of wallet from both large and small clients [42][44] Question: What is the path from meetings to revenue generation? - Management indicated that sales are expected to ramp up exponentially in the second half of the year, with some sales already occurring [49] Question: How does the Google lawsuit ruling impact Teads? - The ruling is seen as a positive for the overall ecosystem, with Teads benefiting from its exclusive supply relationships [60] Question: What is the strategy for expanding the Moments vertical video product? - The strategy includes leveraging vertical video as a significant growth driver, with plans to invest in various vertical video opportunities [63]

[Q1 2025 Performance Overview](index=1&type=section&id=Q1%202025%20Performance%20Overview) The company's Q1 2025 performance saw significant revenue and gross profit growth post-Teads acquisition, despite an increased net loss due to one-time costs [Key Financial Metrics](index=1&type=section&id=First%20Quarter%202025%20Key%20Financial%20Metrics) Q1 2025 saw revenue grow **32%** to **$286.4 million** and Ex-TAC gross profit rise **98%** to **$103.1 million**, with Adjusted EBITDA up **665%** to **$10.7 million**, though net loss increased to **$54.8 million** due to acquisition costs Q1 2025 Key Financial Metrics (in millions USD) | | 2025 | 2024 | % Change | | :--- | :--- | :--- | :--- | | **Revenue** | $286.4 | $217.0 | 32% | | **Gross profit** | $82.7 | $41.6 | 99% | | **Net loss** | $(54.8) | $(5.0) | NM | | **Ex-TAC gross profit** | $103.1 | $52.2 | 98% | | **Adjusted EBITDA** | $10.7 | $1.4 | 665% | | **Free cash flow** | $(6.6) | $4.6 | (242)% | - CEO David Kostman highlighted a strong start post-Teads combination, noting that the company delivered financial results above the mid-range of its guidance while achieving major integration and synergy milestones[3](index=3&type=chunk) [Business Highlights](index=1&type=section&id=First%20Quarter%202025%20Business%20Highlights) Q1 business highlights include the successful Teads acquisition, increased synergy expectations of **$40 million** for 2025, over **100%** CTV revenue growth, and new strategic brand partnerships - Completed the acquisition of Teads for approximately **$900 million**, consisting of **$625 million** in cash and **43.75 million** shares of Outbrain common stock[5](index=5&type=chunk) - Expects to realize **$65 million to $75 million** of synergies in 2026, with an increased benefit of approximately **$40 million** from cost synergies expected in 2025[5](index=5&type=chunk) - CTV (Connected TV) revenue grew by more than **100%** year-over-year in Q1 2025, now accounting for about **5%** of total ad spend[7](index=7&type=chunk) - Secured new strategic Joint Business Partnerships (JBPs) with major brands including Ferrero, Haleon, Philip Morris International, and Beiersdorf[7](index=7&type=chunk) [Financial Highlights & Liquidity](index=2&type=section&id=First%20Quarter%202025%20Financial%20Highlights) Q1 financials were significantly impacted by the Teads acquisition, leading to a **$54.8 million** net loss due to one-time charges, while liquidity stands at **$155.9 million** cash with **$627.0 million** total debt - Net loss of **$54.8 million** was driven by several one-time, pre-tax charges: **$16.4 million** in acquisition-related costs, **$15.6 million** in impairment charges (related to discontinuing the vi product), **$7.3 million** in restructuring charges, and **$12.0 million** in bridge facility costs[7](index=7&type=chunk) - As of March 31, 2025, the company held **$155.9 million** in cash, cash equivalents, and marketable securities[10](index=10&type=chunk) - Total debt obligations stood at **$627.0 million**, primarily from **$610.8 million** in senior secured notes due 2030 issued to finance the acquisition[10](index=10&type=chunk) - Entered a new credit agreement for a **$100.0 million** super senior secured revolving credit facility, expiring in 2030, for working capital and general corporate purposes[10](index=10&type=chunk) [Financial Outlook](index=3&type=section&id=Financial%20Outlook) The company provides its financial guidance for the second quarter and full year 2025, projecting key non-GAAP metrics [Second Quarter and Full Year 2025 Guidance](index=3&type=section&id=Second%20Quarter%20and%20Full%20Year%202025%20Guidance) The company projects Q2 2025 Ex-TAC gross profit between **$141 million** and **$150 million**, Adjusted EBITDA between **$26 million** and **$34 million**, and reiterates full-year Adjusted EBITDA of at least **$180 million** Q2 2025 Guidance (Non-GAAP) | Metric | Guidance Range (in millions) | | :--- | :--- | | **Ex-TAC gross profit** | $141 - $150 | | **Adjusted EBITDA** | $26 - $34 | - For the full year ending December 31, 2025, the company continues to expect Adjusted EBITDA of at least **$180 million**[8](index=8&type=chunk) [Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Consolidated%20Financial%20Statements%20(Unaudited)) This section provides the unaudited consolidated financial statements, detailing the company's operational results, financial position, and cash movements [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 revenue grew to **$286.4 million**, but increased operating expenses and interest led to a net loss of **$54.8 million**, or **($0.70)** per share, compared to a **$5.0 million** loss in Q1 2024 Q1 2025 Statement of Operations Summary (in thousands USD) | | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | **Revenue** | $286,357 | $216,964 | | **Gross Profit** | $82,650 | $41,595 | | **Loss from operations** | $(44,436) | $(6,597) | | **Net loss** | $(54,843) | $(5,041) | | **Diluted Net loss per share** | $(0.70) | $(0.10) | [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The March 31, 2025 balance sheet reflects a significant expansion post-Teads acquisition, with total assets surging to **$1.69 billion** and total liabilities increasing to **$1.21 billion** due to new debt Balance Sheet Summary (in thousands USD) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $534,082 | $343,131 | | **Goodwill** | $587,494 | $63,063 | | **Intangible assets, net** | $391,022 | $16,928 | | **TOTAL ASSETS** | **$1,688,040** | **$549,213** | | **Total Current Liabilities** | $472,545 | $289,471 | | **Long-term debt** | $610,816 | $— | | **TOTAL LIABILITIES** | **$1,213,375** | **$317,870** | | **TOTAL STOCKHOLDERS' EQUITY** | **$474,665** | **$231,343** | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 cash flows show **$1.0 million** used in operations, a **$598.3 million** outflow for the Teads acquisition, and **$596.1 million** provided by financing, ending with **$138.5 million** in cash Q1 2025 Cash Flow Summary (in thousands USD) | | Three Months Ended March 31, 2025 | | :--- | :--- | | **Net cash (used in) provided by operating activities** | $(966) | | **Net cash used in investing activities** | $(546,320) | | **Net cash provided by financing activities** | $596,094 | | **Net increase in cash** | $48,751 | [Non-GAAP Financial Measures & Reconciliations](index=3&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) This section defines and reconciles the company's non-GAAP financial measures, including Ex-TAC Gross Profit, Adjusted EBITDA, and Free Cash Flow, to GAAP results [Explanation of Non-GAAP Measures](index=3&type=section&id=Explanation%20of%20Non-GAAP%20Measures) The company uses non-GAAP measures like Ex-TAC Gross Profit, Adjusted EBITDA, and Free Cash Flow to assess core operating performance by excluding specific non-recurring or non-cash expenses - Ex-TAC gross profit is a key profitability measure calculated by adding other cost of revenue back to GAAP gross profit, used to evaluate operating performance and trends[14](index=14&type=chunk)[15](index=15&type=chunk) - Adjusted EBITDA is defined as net income (loss) adjusted for interest, taxes, depreciation & amortization, stock-based compensation, and other non-core expenses such as acquisition-related costs and restructuring charges[16](index=16&type=chunk) - Free cash flow is defined as cash flow from operating activities minus capital expenditures and capitalized software development costs, used to evaluate the ability to generate cash[19](index=19&type=chunk) [Reconciliations of Non-GAAP to GAAP Measures](index=13&type=section&id=Reconciliations%20of%20Non-GAAP%20to%20GAAP%20Measures) Detailed Q1 2025 reconciliations show GAAP Gross Profit of **$82.7 million** to Ex-TAC Gross Profit of **$103.1 million**, Net Loss of **$54.8 million** to Adjusted EBITDA of **$10.7 million**, and Free Cash Flow of negative **$6.6 million** Reconciliation of Gross Profit to Ex-TAC Gross Profit (Q1 2025, in thousands) | | Amount | | :--- | :--- | | **Gross profit (GAAP)** | **$82,650** | | Add: Other cost of revenue | $20,472 | | **Ex-TAC gross profit (Non-GAAP)** | **$103,122** | Reconciliation of Net Loss to Adjusted EBITDA (Q1 2025, in thousands) | | Amount | | :--- | :--- | | **Net loss (GAAP)** | **$(54,843)** | | Adjustments (Interest, Taxes, D&A, etc.) | $12,873 | | Stock-based compensation | $2,941 | | Acquisition-related costs | $16,418 | | Restructuring charges | $7,279 | | Impairment charges | $15,614 | | Other adjustments | $23,227 | | **Adjusted EBITDA (Non-GAAP)** | **$10,689** | Reconciliation to Free Cash Flow (Q1 2025, in thousands) | | Amount | | :--- | :--- | | **Net cash used in operating activities (GAAP)** | **$(966)** | | Purchases of property and equipment | $(2,921) | | Capitalized software development costs | $(2,699) | | **Free cash flow (Non-GAAP)** | **$(6,586)** |

Core Insights - Outbrain Inc. reported strong financial results for Q1 2025, achieving guidance on Ex-TAC gross profit and Adjusted EBITDA, with CTV revenues growing over 100% year-over-year on a pro forma basis [1][2] - The company completed the acquisition of Teads for approximately $900 million, which is expected to yield significant synergies and integration benefits [4][21] - Full-year guidance for 2025 remains positive, with expectations for continued growth and strategic partnerships [6][7] Financial Performance - Revenue for Q1 2025 was $286.4 million, a 32% increase from $217.0 million in Q1 2024 [2][5] - Gross profit reached $82.7 million, up 99% from $41.6 million in the prior year, with a gross margin increase to 28.9% [2][5] - Ex-TAC gross profit was $103.1 million, a 98% increase year-over-year, with an Ex-TAC gross margin of 36.0% [2][5] - The net loss for the quarter was $54.8 million, compared to a net loss of $5.0 million in Q1 2024, influenced by acquisition-related costs and restructuring charges [2][5] Business Highlights - The integration of Teads is on track, with expected synergies of $65 million to $75 million by 2026, including $40 million in cost synergies for 2025 [4][6] - The company has initiated cross-selling of legacy Outbrain solutions to Teads' enterprise brand customers, with several campaigns already sold [4] - New strategic partnerships have been established with major brands such as Ferrero and Philip Morris International [4] Guidance and Future Outlook - For Q2 2025, the company expects revenue of $286.4 million, with continued strong adoption of its Moments vertical video offering [6] - Full-year guidance for 2025 includes Ex-TAC gross profit expectations of $141 million to $150 million and Adjusted EBITDA of $26 million to $34 million [6][7] - The company is focused on leveraging predictive AI technology to enhance its advertising platform and drive business outcomes [21]

Company Overview - Outbrain Inc. has rebranded under the new Teads brand following its merger with Teads on February 3, 2025 [4] - The new Teads operates as an omnichannel outcomes platform for the open internet, focusing on delivering full-funnel results for marketers [4] - The company partners with over 10,000 publishers and 20,000 advertisers globally, employing nearly 1,800 people across 36 countries [4] Upcoming Financial Results - Outbrain Inc. will release its first quarter 2025 results before the market opens on May 9, 2025 [1] - A conference call to discuss the results and business outlook will take place at 8:30 a.m. (Eastern Time) on the same day [1] Conference Call Details - The conference call can be accessed live via phone or through a webcast on the company's Investor Relations website [2][3] - A replay of the call will be available two hours after it concludes, accessible until May 23, 2025 [2]

Core Viewpoint - The article discusses potential investment opportunities in a specific company, highlighting the analyst's intention to initiate a long position in the stock within the next 72 hours [1]. Group 1 - The analyst has no current stock, option, or similar derivative position in any of the companies mentioned [1]. - The article expresses the analyst's personal opinions and is not influenced by external compensation [1]. - There is an indication that the analyst may purchase stock or options in the company mentioned, suggesting a positive outlook [1]. Group 2 - The article does not provide any specific recommendations or advice regarding investment suitability for individual investors [2]. - It emphasizes that past performance is not indicative of future results, highlighting the inherent uncertainties in investment [2]. - The views expressed may not represent the overall stance of Seeking Alpha, indicating a diversity of opinions among analysts [2].