Financial Data and Key Metrics Changes - In Q2 2025, TV revenue grew over 35% to $67.8 million, with total revenue reaching $68.5 million, driven by customer acquisition and increased usage [7][16] - Gross margin improved to 77%, up from 70% in 2024, reflecting a 700 basis point increase [17] - Adjusted EBITDA grew 92% year over year to a record $14.5 million, with an adjusted EBITDA margin of 21% compared to 14% in 2024 [19][20] - The company ended the quarter with $175 million in cash and cash equivalents and no debt outstanding [20] Business Line Data and Key Metrics Changes - Performance TV revenue growth of 35% indicates strong customer adoption, particularly among small and medium-sized businesses [16] - The number of live customers on the platform increased by 85% year over year, with 97% of new customers having never advertised on TV before [9][10] Market Data and Key Metrics Changes - Nearly half of all TV time in the US is now streamed, yet only a third of TV ad budgets have followed, indicating a significant market opportunity for performance TV [9] - The company is targeting small and mid-sized businesses, which are increasingly recognizing the potential of TV advertising [95] Company Strategy and Development Direction - The company aims to democratize TV advertising, making it accessible and effective for brands of all sizes, particularly small and mid-sized businesses [5][6] - The strategy includes leveraging AI for targeting and creative processes to enhance customer acquisition and reduce costs [27][28] - The company is focused on maintaining operating leverage while investing in technology and development to drive future growth [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum and market opportunity, highlighting the shift towards performance TV as a viable growth channel [14][21] - The management noted that small and mid-sized businesses are expected to drive growth in TV advertising, similar to trends seen in job creation [96] Other Important Information - The company has a strong balance sheet with no debt and significant cash reserves, positioning it well for future investments [20] - The company is committed to strategic investments in R&D and go-to-market capabilities to support growth [21] Q&A Session Summary Question: Can you discuss the momentum you're seeing and what excites you most? - Management noted that small and mid-sized businesses are increasingly assuming they can use television for advertising, reflecting strong forward momentum [25][26] Question: How do you see margins trending and what are the key levers? - Management indicated a long-term gross margin target of 75% to 80%, with expectations for further improvements through reductions in hosting and media costs [30][31] Question: What impact has lowering the minimum spend had on the business? - The minimum spend per campaign has decreased from $25,000 to $500, allowing more small and medium-sized advertisers to access the platform [39] Question: Can you comment on net revenue retention rates? - While not quantified, management indicated that net retention rates are very strong, particularly among small businesses [45][46] Question: What is the growth outlook from the ZoomInfo deal? - The partnership with ZoomInfo is expected to drive advertisers to the platform, enhancing customer acquisition [51] Question: How is the go-to-market strategy evolving post-IPO? - The go-to-market strategy has become faster, leveraging AI tools for quicker customer onboarding [65] Question: Where is the biggest growth in new customers coming from? - Growth is seen in small franchises and local businesses, aided by the introduction of radius targeting [89] Question: How does the company define performance for its advertisers? - Over 80% of customers use return on ad spend as their key metric, with a focus on driving sales and conversions [76][85]

Financial Data and Key Metrics Changes - In Q2 2025, TV revenue grew over 35% to $67.8 million, with total revenue reaching $68.5 million, driven by customer acquisition and increased usage [6][15] - Gross margin improved to 77%, up from 70% in 2024, reflecting a 700 basis point increase [16] - Adjusted EBITDA grew 92% year over year to a record $14.5 million, with an adjusted EBITDA margin of 21% compared to 14% in 2024 [18][19] - The company ended the quarter with $175 million in cash and cash equivalents and no debt outstanding [19] Business Line Data and Key Metrics Changes - Performance TV revenue growth of 35% indicates strong customer adoption, particularly among small and medium-sized businesses [15] - The number of live customers on the platform increased by 85% year over year, with 97% of new customers having never advertised on TV before [9][15] Market Data and Key Metrics Changes - Nearly half of all TV time in the US is now streamed, yet only a third of TV ad budgets have followed, indicating a significant market opportunity [8] - The company is targeting small and mid-sized businesses, which have historically been excluded from TV advertising [9][94] Company Strategy and Development Direction - The company aims to democratize TV advertising by making performance TV accessible and effective for brands of all sizes [4][6] - The strategy includes leveraging AI for targeting and creative processes to lower costs and improve efficiency [26][62] - The company is focused on expanding its market presence by lowering minimum spend requirements to attract more small and medium-sized advertisers [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum and market opportunity, emphasizing the alignment of their strategy with modern marketing needs [13][20] - The management highlighted the importance of data and AI technology in driving customer acquisition and performance marketing [95] Other Important Information - The company has a strong balance sheet and is committed to strategic investments in R&D and marketing to support future growth [19][20] - The company expects Q3 revenue in the range of $69.5 million to $70.5 million, representing a 22.5% year-over-year growth at the midpoint [19] Q&A Session Summary Question: Can you discuss the momentum you're seeing and what excites you most? - Management noted that small and mid-sized businesses are increasingly recognizing their ability to leverage TV advertising, with 77% of revenue now coming from inbound leads [25] Question: How do you see margins trending and what are the key levers? - Management indicated a long-term gross margin target of 75% to 80%, with expectations for further improvements through reductions in hosting and media costs [28][30] Question: What impact has lowering the minimum spend had on the business? - The minimum spend per campaign has been reduced from $25,000 to $500, allowing for greater customer access and improved targeting [36] Question: Can you comment on net revenue retention rates? - While specific figures were not disclosed, management indicated that net retention is very strong, particularly among small businesses [42] Question: What is the impact of the ZoomInfo deal? - The partnership with ZoomInfo is expected to drive advertisers to the platform, enhancing customer acquisition efforts [46] Question: How is the go-to-market strategy evolving post-IPO? - The go-to-market strategy has become faster, leveraging AI tools to enable quicker customer onboarding [64] Question: How does the company define performance for its advertisers? - Over 80% of customers use return on ad spend as their key metric, with a focus on driving sales and conversions [75][81]