Core Insights - Revenue grew 19% year-over-year excluding political spend, with absolute growth at 14% due to irregular election cycles [1] - Significant weakness in the CPG and automotive sectors, which represent over 25% of the business, acted as a 5% drag on overall growth [1] - Management attributes the softness in CPG and automotive sectors to macro pressures including tariff uncertainty, inflationary costs, and a shift from branding to cost-cutting [1] Market Dynamics - A global supply-demand imbalance has created a 'buyer's market,' increasing the strategic value of the platform's objectivity as it does not own inventory [1] - The company completed a major go-to-market reorganization to eliminate overlapping coverage and shift toward a brand-first, integrated account model [1] Business Strategy - Joint Business Plans (JBPs) now account for over half of the business, with the pipeline doubling over the past year to drive long-term accountability [1] - The 'fallacy of cheap reach' in walled gardens is driving sophisticated advertisers toward objective decisioning and premium open internet inventory [1]