Core Points - Comscore, Inc. plans to hold a conference call to discuss its financial results for Q1 2025 on May 6 at 5:00 p.m. ET [1] - The conference call will be accessible via live webcast and telephone registration [2] - A replay of the conference call will be available after the event [3] Company Overview - Comscore is a global partner for planning, transacting, and evaluating media across various platforms [4] - The company combines digital, linear TV, over-the-top, and theatrical viewership intelligence with advanced audience insights [4] - Comscore is recognized as a leader in measuring digital and TV audiences and advertising at scale, serving as a reliable source for cross-platform measurement [4] Investor and Media Contacts - John Tinker is the investor contact for Comscore, reachable at 212-203-2129 or jtinker@comscore.com [5] - Marie Scoutas is the media contact, available at 917-213-2032 or mscoutas@comscore.com [5]

Core Insights - Comscore has entered into a multi-season national and local TV measurement agreement with The Summit League, enhancing the League's ability to analyze viewer demographics and engagement patterns [1][2][3] - This partnership will provide Comscore as the TV measurement provider for the 2024-2025 and 2025-2026 basketball seasons, offering detailed insights into the performance of televised games [2][3] - The agreement marks Comscore's first TV measurement deal with an NCAA Division I athletic conference, solidifying its leadership in sports media measurement [3] Company Insights - Comscore is recognized as a global leader in measuring and analyzing consumer behaviors, providing advanced audience insights across various media platforms [4] - The company combines digital, linear TV, over-the-top, and theatrical viewership intelligence to empower media buyers and sellers [4] Industry Insights - The partnership reflects a growing demand for advanced audience measurement in sports broadcasting, particularly in college basketball [3] - The Summit League aims to leverage this data-driven approach to enhance its sponsorship value and overall media strategy [3]

Core Points - Comscore has received accreditation from the Media Rating Council (MRC) for its household-level TV measurement, covering both national and local TV Time-Based Grid reports [1][2] - This accreditation builds on a previous award from the MRC, making Comscore the first provider to leverage big data for both local and national TV ratings [2] - Comscore is the only measurement service accredited by the MRC in all 210 local markets based on big data device tuning measurement [2][3] Company Insights - The MRC accreditation signifies that Comscore's methodologies and processes meet established standards for transparency and accountability in measurement [3] - Comscore's CEO emphasized that this accreditation reinforces the company's leadership in big-data measurement and provides reliable insights for advertisers and broadcasters [4] - The accreditation process involved a comprehensive audit by an independent CPA firm and approval from the MRC's Board of Directors [4] Industry Context - The MRC is a non-profit industry association established in 1963, aimed at ensuring valid, reliable, and effective measurement services across various media platforms [5] - Comscore is positioned as a trusted partner for media planning, transacting, and evaluation, combining digital and traditional media insights [6]

Core Insights - Comscore, Inc. has received accreditation from the Media Rating Council (MRC) for its household-level TV measurement, specifically for its national and local TV Time-Based Grid reports focusing on household, age, and gender metrics [1][2][3] Group 1: Accreditation Details - The recent MRC accreditation builds on a previous award, making Comscore the first provider to leverage big data for both local and national TV Time-Based Grid reports for Total Household Rating and Average Audience estimates [2] - Comscore is the only measurement service accredited by the MRC in all 210 local markets based on big data device tuning measurement [2] Group 2: Methodology and Impact - The MRC accreditation signifies that Comscore's methodologies and processes meet established standards for transparency and accountability in measurement [3] - The accreditation process involved a comprehensive independent audit by a CPA firm engaged by the MRC, culminating in approval from the MRC's Board of Directors [4] Group 3: Industry Position - The CEO of Comscore emphasized that this accreditation reinforces the company's leadership in big-data measurement and differentiates it in the evolving multi-currency TV landscape [4] - Comscore's unified measurement system provides advertisers and broadcasters with consistent and geographically precise insights, enhancing their business operations [4] Group 4: MRC's Role - The MRC, established in 1963, is a non-profit industry association aimed at ensuring valid, reliable, and effective measurement services across various media platforms [5]

Financial Performance - Total revenues for 2024 were $356,047 thousand, a decrease of 4.3% from $371,343 thousand in 2023[353]. - The net loss for 2024 was $60,248 thousand, compared to a net loss of $79,361 thousand in 2023, indicating a 24.1% improvement[353]. - The company reported a loss from operations of $59,509 thousand in 2024, an improvement from a loss of $73,601 thousand in 2023[353]. - The net loss for the year ended December 31, 2023, was $60,248,000, compared to a net loss of $79,361,000 in 2022, indicating a reduction in losses by approximately 24%[358]. - Total revenue for 2024 was $356.0 million, a decrease of 4.1% from $371.3 million in 2023[462]. - Revenue from the United States was $318.4 million in 2024, down from $335.8 million in 2023, representing a decline of 5.0%[463]. - The Company recognized revenue of $308.6 million from products and services transferred over time in 2024, down from $315.1 million in 2023[463]. Cash and Liquidity - As of December 31, 2024, the Company had total cash and cash equivalents of $33.5 million, with $9.1 million held by foreign subsidiaries[326]. - Cash and cash equivalents at the end of the period increased to $29,937,000 in 2024 from $22,750,000 in 2023, reflecting a growth of about 32%[358]. - Total cash, cash equivalents, and restricted cash reached $33,468,000 as of December 31, 2024, compared to $22,936,000 in 2023, marking a significant increase of approximately 46%[358]. - The Company incurred stock-based compensation expenses of $3,191,000 in 2023, a decrease from $4,535,000 in 2022[358]. - The net cash provided by operating activities for 2023 was $18,104,000, down from $28,926,000 in 2022, representing a decline of about 37%[358]. Impairment Charges - The Company recorded a $63.0 million non-cash impairment charge during the three months ended September 30, 2024, due to goodwill impairment[344]. - The Company recorded a $34.1 million non-cash impairment charge during Q4 2023 as the reporting unit did not pass the goodwill impairment test[398]. - The Company recorded a $44.1 million non-cash impairment charge during Q2 2023 related to goodwill impairment[399]. - The Company recorded a $1.4 million non-cash impairment charge related to a right-of-use asset during Q3 2024[404]. - The Company recorded a $1.5 million non-cash impairment charge related to right-of-use assets during Q3 2023[405]. Expenses and Costs - Cost of revenues increased slightly to $208,708 thousand in 2024 from $205,580 thousand in 2023, representing a 0.6% increase[353]. - Selling and marketing expenses decreased to $57,622 thousand in 2024 from $63,322 thousand in 2023, a reduction of 9.5%[353]. - Research and development expenses remained relatively stable at $33,066 thousand in 2024 compared to $33,701 thousand in 2023[353]. - Cost of revenues primarily includes expenses related to data acquisition, network infrastructure, and employee costs, including stock-based compensation[434]. - Research and development expenses consist mainly of salaries and related costs for personnel involved in R&D activities[438]. Stock and Equity - The company’s total stockholders' equity deficit was $8,263 thousand in 2024, a significant decline from a positive equity of $56,103 thousand in 2023[352]. - The total number of shares of stock authorized for issuance was reduced from 380 million to 118.75 million following the Reverse Stock Split[365]. - The total number of outstanding Common Stock equivalents increased to 5,127,567 in 2024 from 4,924,034 in 2023[456]. - The Company issued 13,257,294 additional shares of Preferred Stock in July 2024, in exchange for cancellation of accrued dividends totaling $32.8 million[379]. - The Company awarded 229,795 time-based RSUs in 2024, with 119,720 RSUs vesting immediately related to the settlement of an accrued 2023 annual incentive plan liability[501]. Debt and Financing - As of December 31, 2024, the stated interest rate on the Term Loan was 11.59% per annum[321]. - The Company entered into a senior secured financing agreement with a borrowing capacity of $60 million, including a $45 million term loan fully funded at closing[509]. - The Credit Agreement requires annual prepayments of loans with Excess Cash Flow starting in 2025, with percentages based on the Total Leverage Ratio[513]. - The Credit Agreement prohibits cash dividends on Preferred Stock until April 1, 2026, and imposes limitations on cash dividends thereafter[514]. - The Company has a full valuation allowance against its deferred tax assets, which has not materially impacted its tax rate or results of operations[450]. Revenue Recognition - The Company’s revenue recognition involves complex contracts with multiple performance obligations, which require significant management judgment[337]. - The Company recognizes revenue for subscription-based products on a straight-line basis over the access period specified in the contract[427]. - The Company evaluates whether it is the principal or agent in transactions involving third parties, which can significantly affect revenue recognition[429]. - The Company expects to recognize approximately $240 million in revenue from remaining performance obligations as of December 31, 2024, with 53% expected in 2025[466]. Foreign Currency and Interest Rate Risks - A 10% decrease in foreign currency value would have resulted in a decrease to the net loss of approximately $10.9 million, while a 10% increase would have resulted in an increase to the net loss of approximately $7.3 million for the year ended December 31, 2024[325]. - The Company has exposure to foreign currency exchange rate risk from its global operations, impacting revenues and operating expenses[324]. - The Company is subject to interest rate risk based on the Adjusted Term SOFR rate, with borrowings under the Credit Agreement[321]. - The Company has not engaged in any transactions that hedge foreign currency exchange rate risk, exposing it to adverse changes in exchange rates[324].

Financial Data and Key Metrics Changes - Total revenue for 2024 was $356 million, down 4.1% from $371.3 million in 2023, but above earlier guidance [24] - Adjusted EBITDA for the year was $42.4 million, down 3.8% from 2023, resulting in an adjusted EBITDA margin of 11.9% [26] - Fourth quarter revenue was $94.9 million, nearly flat compared to $95.1 million in the same quarter last year, with adjusted EBITDA of $17.2 million, up 4.4% year-over-year [28][30] Business Line Data and Key Metrics Changes - Content and ad measurement revenue for 2024 was $301.1 million, down 2.8% from 2023, driven by lower revenue from syndicated audience offerings [24] - Cross-platform revenue reached $40.5 million, up 20% compared to the prior year, with significant growth in the second half of 2024 [25] - Movies business generated $37.1 million in revenue for 2024, up 5% from the prior year [25] Market Data and Key Metrics Changes - The company saw increased advertising spend transacting on its measurement currency in Q4, marking the highest level in its history [16] - The national TV and syndicated digital products faced pricing pressures impacting revenue recovery [24] Company Strategy and Development Direction - The company aims to establish itself as a global leader in audience measurement across platforms, focusing on cross-platform solutions and currency capabilities [7][19] - New product launches, such as Comscore content measurement, are expected to drive growth, with strong interest from enterprise clients [21] - The company anticipates continued high double-digit growth from its cross-platform solutions in 2025 [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum built in Q4 carrying into 2025, despite the first quarter typically being the lowest for ad spend [44] - The company expects challenges in legacy media channels and unpredictable demand for custom digital products, but remains optimistic about cross-platform growth [36] Other Important Information - The company secured new financing of $60 million, which includes a $45 million term loan and a $15 million revolving facility, enhancing its cash position to $33.5 million [35] - A restructuring of the data license agreement with Charter is expected to save over $35 million over the remaining term of the agreement [34] Q&A Session Summary Question: What is the current state of volatility in results? - Management noted good momentum from Q4 into 2025, with no significant macroeconomic factors affecting performance [43][45] Question: Does increased uncertainty create more opportunities for ProximaC? - Management believes that ProximaC's ID-free solution will benefit from increased consumer privacy regulations and uncertainty in the digital ecosystem [47] Question: What are the drivers behind increased currency utilization in Q4? - Management indicated that both internal efforts and external market pressures contributed to greater currency adoption, particularly with new agency contracts [49][50]

ComScore (SCOR) came out with a quarterly loss of $0.27 per share versus the Zacks Consensus Estimate of $1.72. This compares to loss of $6.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -115.70%. A quarter ago, it was expected that this online research firm would post a loss of $0.94 per share when it actually produced a loss of $12.79, delivering a surprise of -1,260.64%.Over the last four quarters, the company has not b ...

Q4 2024 Earnings Call FourthQuarter 2024 Jon Carpenter Chief Executive Officer Mary Margaret Curry Chief Financial Officer Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of federal and state securities laws, including, without limitation, our expectations, forecasts, plans and opinions regarding expected revenue and adjusted EBIDA margin for 2025, a return to growth in 2025, revenue drivers, future investments in growth and opera ...

Revenue Performance - Q4 2024 revenue was $94.9 million, a slight decrease of 0.2% from $95.1 million in Q4 2023[4] - Full year 2024 revenue totaled $356.0 million, down 4.1% compared to $371.3 million in 2023[7] - Total revenues for 2024 were $356,047, a decrease of 4.3% from $371,343 in 2023[30] - Revenues from Syndicated Audience for the year ended December 31, 2024, were $260,654, representing 73.2% of total revenue[37] - Cross-Platform revenue increased by 19.7% year-over-year, reaching $40,470 for the year ended December 31, 2024[37] - Cross-platform revenue grew 21.7% in Q4 2024 compared to Q4 2023, indicating strong demand for cross-platform products[4] Net Income and Loss - Net income for Q4 2024 was $3.1 million, a significant improvement from a net loss of $28.4 million in Q4 2023[6] - Full year net loss for 2024 was $60.2 million, compared to a net loss of $79.4 million in 2023[12] - Net loss for 2024 was $60,248, compared to a net loss of $79,361 in 2023, representing a 24.1% improvement[30] - The company reported a basic and diluted net loss per common share of $15.53 for 2024, compared to $19.88 in 2023[30] - GAAP net loss for Q4 2024 was $3,144 compared to a net loss of $28,399 in Q4 2023, showing a significant improvement[35] - Total comprehensive loss for 2024 was $64,206, compared to $77,531 in 2023, reflecting a 17.1% improvement[30] - The net loss margin improved to 3.3% in Q4 2024 from (29.9)% in Q4 2023[36] EBITDA and Margins - Adjusted EBITDA for Q4 2024 was $17.2 million, up from $16.4 million in Q4 2023, resulting in an adjusted EBITDA margin of 18.1%[9] - Non-GAAP adjusted EBITDA for Q4 2024 was $17,171, compared to $16,444 in Q4 2023, indicating a positive trend[36] - Adjusted EBITDA margin for 2025 is anticipated to be between 12% and 15%[18] - Non-GAAP FX adjusted EBITDA for Q4 2024 was $14,246, down from $18,724 in Q4 2023[36] Cash and Assets - Cash, cash equivalents, and restricted cash as of December 31, 2024, totaled $33.5 million, an increase from $22.9 million at the end of 2023[7] - Cash and cash equivalents rose to $29,937 in 2024, up from $22,750 in 2023, marking a 31.8% increase[32] - Total current assets increased to $108,057 in 2024 from $97,990 in 2023, reflecting an increase of 10.9%[28] Liabilities and Equity - Total liabilities decreased to $231,040 in 2024 from $247,307 in 2023, a reduction of 6.6%[28] - Total stockholders' equity shifted from a surplus of $56,103 in 2023 to a deficit of $8,263 in 2024[28] Operational Expenses - Total expenses from operations decreased to $91,035 in Q4 2024 from $119,563 in Q4 2023[35] - Net cash provided by operating activities was $18,104 in 2024, down from $28,926 in 2023, a decline of 37.2%[32] Financing and Future Outlook - The company expects full year 2025 revenue to be between $360 million and $370 million, driven by growth in Content & Ad Measurement revenue[18] - The company entered a senior secured financing agreement providing a borrowing capacity of $60.0 million to strengthen its cash position for future growth[15] Goodwill and Impairment - Impairment of goodwill was recorded at $63,000 in 2024, down from $78,200 in 2023, indicating a 19.3% decrease[30] Stock-Based Compensation - Stock-based compensation expense for Q4 2024 was $924, up from $716 in Q4 2023[35]

Financial Highlights - For Q4 2024, revenue was $94.9 million, a slight decrease of 0.2% from $95.1 million in Q4 2023 [4] - Full-year revenue for 2024 was $356.0 million, down 4.1% from $371.3 million in 2023 [8][10] - Content & Ad Measurement revenue declined 2.8% compared to 2023, while cross-platform revenue grew 19.7% over the same period [10][47] Profitability Metrics - Net income for Q4 2024 was $3.1 million, a significant improvement from a net loss of $28.4 million in Q4 2023 [7] - Full-year net loss for 2024 was $60.2 million, compared to a net loss of $79.4 million in 2023 [12] - Adjusted EBITDA for Q4 2024 was $17.2 million, compared to $16.4 million in Q4 2023, resulting in adjusted EBITDA margins of 18.1% [9][40] Operating Expenses - Core operating expenses for Q4 2024 were $90.3 million, up 7.6% from $83.9 million in Q4 2023, primarily due to higher employee compensation and data licensing costs [6] - Full-year core operating expenses were $347.1 million, down 1.9% from $353.8 million in 2023, driven by a decline in employee compensation and lower cloud computing costs [11] Balance Sheet and Liquidity - As of December 31, 2024, cash, cash equivalents, and restricted cash totaled $33.5 million, an increase from $22.9 million as of December 31, 2023 [14] - The company entered into a senior secured financing agreement providing a borrowing capacity of $60.0 million to strengthen its cash position [15] 2025 Outlook - The company expects 2025 revenue to be between $360 million and $370 million, driven by growth in Content & Ad Measurement revenue and cross-platform products [18] - Adjusted EBITDA margin for 2025 is anticipated to be between 12% and 15% [18]