Group 1 - Taboola will release its fourth quarter and full year 2025 financial results on February 25, 2026, at 8:30 a.m. ET [1] - A conference call and webcast will be hosted by Taboola's senior management team to discuss the financial results [1] - The webcast will be available for replay for one year, until February 25, 2027 [1] Group 2 - Taboola provides performance advertising technology that extends beyond search and social media, delivering measurable outcomes at scale [2] - The company collaborates with thousands of businesses, reaching approximately 600 million daily active users through its ad platform, Realize [3] - Major publishers like NBC News and Yahoo, as well as OEMs such as Samsung and Xiaomi, utilize Taboola's technology to enhance audience growth and revenue [3]

Core Insights - Pinterest is launching a shoppable TV partnership with Roku, featuring an original series titled "Bring My Pinterest to Life" that allows viewers to transition from watching to shopping seamlessly [1][2] - The series will premiere in March and will involve creators working with Pinterest users to transform their boards into real spaces, focusing on an "inspiration to realization" journey [2][3] - Pinterest is enhancing its performance advertising capabilities for connected TV by acquiring the CTV performance advertising platform tvScientific, enabling advertisers to run campaigns and measure outcomes effectively [4][5] Advertising and Consumer Behavior - Pinterest's CEO stated that advertisers will be able to utilize existing performance metrics for TV advertising, positioning Pinterest as a comprehensive solution for search, social, and CTV performance [5] - Recent research indicates that social media influencers significantly impact purchasing decisions among younger consumers, with 14% of Gen Z Americans making purchases based on influencer recommendations, a stark contrast to older generations [6] - The rise of platforms like Instagram and TikTok has allowed individuals to establish credibility and expertise in various fields, influencing consumer behavior and purchasing decisions [7]

Summary of Taboola FY Conference Call (January 14, 2026) Company Overview - **Company**: Taboola (NasdaqGS:TBLA) - **Industry**: Digital Advertising and Content Discovery - **CEO**: Adam Singolda - **Founded**: 2007 - **Business Model**: Performance advertising platform focusing on engagement and monetization across the open web, serving over 1 billion users monthly and thousands of publishers and advertisers worldwide [2][4] Key Points and Arguments Market Position - Taboola is the largest performance advertising company globally outside of Google, Facebook, and Amazon, operating in a $1 trillion advertising market [4][5] - The company emphasizes performance metrics in advertising, focusing on the "open web" where performance is harder to measure compared to major platforms [4][5] Business Model and Revenue - Taboola operates as both a Supply-Side Platform (SSP) and Demand-Side Platform (DSP), generating approximately $2 billion in revenue, primarily from direct advertisers [5][6] - The company reaches about 600 million people daily, with a focus on cost-per-click (CPC) advertising rather than cost-per-thousand impressions (CPM) [6][5] Advertising Funnel - Taboola positions itself in the middle of the advertising funnel, targeting consumers who are in the consideration phase of their purchasing decisions [7][10] - The company aims to help advertisers drive conversions by engaging users at critical decision-making moments [10][11] AI and Technology Integration - Taboola acknowledges the risks and opportunities presented by AI, particularly in relation to search traffic and the potential for AI to enhance user engagement [12][15] - The company has launched a product called "Deeper Dive," an AI-based tool for the open web that allows users to interact with content and receive targeted advertisements [15][17][70] Product Innovations - **Realize**: Launched as an advertising console to integrate native and display advertising, allowing advertisers to upload various ad formats and access diverse supply sources [21][24] - The product has shown promising growth, with a focus on attracting new advertisers and increasing spending from existing clients [27][29] Growth Strategies - Taboola aims to achieve double-digit revenue growth by increasing demand from advertisers and expanding its market presence [34][36] - The company is focusing on high-consideration segments such as personal finance, healthcare, and e-commerce, where it believes it can excel [116][118] Taboola News - Taboola News is identified as one of the fastest-growing segments, providing news content on OEM devices, which creates intimate advertising opportunities [37][43] - The growth is driven by increasing device partnerships and improved revenue per user through better targeting [43][44] E-commerce and Creator Economy - E-commerce is highlighted as a significant growth area, particularly through the Creator Economy, where creators drive product conversions via social media [45][46] - Taboola is capitalizing on this trend by integrating products into creator content, which has proven to be a profitable segment [47] Political Advertising - Political advertising is not a major focus for Taboola, as the company has not invested significantly in that area [48][50] Future Outlook - The company is optimistic about its growth trajectory, with plans to continue investing in technology and expanding its advertiser base [54][56] - Taboola is cautious about acquisitions, preferring to focus on organic growth and improving existing products before considering significant purchases [56][58] Additional Important Insights - The company is experiencing a decline in search traffic, but this has a limited impact on revenue due to the nature of the traffic [159][170] - Taboola is committed to maintaining a strong financial position, with a focus on share buybacks and sustainable growth [54][56] - The CEO emphasizes the importance of execution and consistency in achieving the company's growth objectives [115][145]

Core Insights - Taboola, a leader in performance advertising technology, will participate in the Needham Growth Conference on January 14, 2026, showcasing its management team's insights and strategies [1] - The company operates the Realize ad platform, which reaches approximately 600 million daily active users, partnering with major publishers like NBC News and Yahoo [2] Company Overview - Taboola empowers businesses through performance advertising technology that extends beyond traditional search and social media, delivering measurable outcomes at scale [2] - The company collaborates with thousands of businesses, providing unique data and specialized algorithms to enhance audience growth and revenue [2] Investor Relations - A live webcast of the conference participation will be available on Taboola's investor relations website, ensuring accessibility for stakeholders [1]

Summary of Taboola.com Conference Call Company Overview - **Company**: Taboola.com (NasdaqGS:TBLA) - **Industry**: Performance Advertising - **Core Business**: Taboola operates as a performance advertising platform, focusing on placing ads outside of traditional search and social media environments, leveraging data from a wide range of publishers and users. Key Points and Arguments Business Model and Revenue Generation - Taboola generates over 90% of its revenue from cost-per-click advertising, meaning revenue is only earned when a consumer clicks on an ad [7][8] - The company has long-term exclusive agreements with approximately 11,000 publishers, which allows it to gather first-party data and effectively target ads [2][6] - The average traffic acquisition cost (TAC) is about 65% of revenue, with the remaining 35% representing XTAC (gross profit), which is the primary measure of the company's revenue growth [7][9] New Platform: Realize - In February 2025, Taboola launched a new advertising platform called Realize, transitioning from a native advertising model to a more comprehensive performance advertising model [10][12] - Realize allows for various ad formats, including display and vertical video, and includes new features like Predictive Audiences to enhance advertiser success [11][12] - The transition to Realize was a significant investment, aimed at improving advertiser performance and increasing ad spend [12][14] Growth and Market Position - Taboola is optimistic about returning to double-digit growth, driven by new platform features, a focus on ideal customer profiles, and increased marketing spend [16][18] - The company estimates a $10 billion opportunity in performance budgets currently going to other ad tech players, which it aims to capture [26][27] - Taboola's unique data and technology position it favorably against traditional demand-side platforms (DSPs) [26][28] Market Stability and Competition - The advertising market is currently stable, with performance advertising showing resilience amid economic uncertainties [19][20] - Taboola's competitive strategy includes maintaining long-term publisher relationships and expanding into new ad formats [28][29] Taboola News Product - Taboola News, akin to Apple News for Android devices, is a growing segment that provides unique supply opportunities and is expanding its global footprint [40][41] - The product is expected to grow faster than the overall business, with potential for more touchpoints and device partnerships [42] Future Opportunities and Challenges - The transition from native to performance advertising is seen as a significant growth opportunity, with the potential to tap into a $50 billion market [70][71] - The company is focused on enhancing its product features to compete with industry leaders like Facebook and Google [45][46] - There is a need to reposition the brand in the minds of advertisers to gain trust for broader ad campaigns beyond native advertising [74][75] Impact of AI and LLMs - Taboola is leveraging generative AI tools to enhance productivity and improve advertiser onboarding processes [66][68] - The company has low exposure to search traffic, with only about 5% of US traffic coming from search, which mitigates risks associated with the rise of LLMs in search [59][61] Additional Important Insights - Taboola is cautious about entering the long tail of the internet due to quality concerns and focuses on mid-tail and premium supply [39][40] - The company is exploring innovative products like Deeper Dive, which enhances user engagement on publisher sites through AI-driven interactions [47][51] This summary encapsulates the key insights from the conference call, highlighting Taboola's strategic direction, market positioning, and growth opportunities in the performance advertising landscape.

Financial Data and Key Metrics Changes - The company reported Q3 2025 revenue of $497 million, representing a 15% year-over-year increase [12] - Ex-TAC gross profit was $177 million, up 6% year-over-year, with an adjusted EBITDA of $48 million, reflecting a strong EBITDA margin of over 27% [6][12] - Free cash flow for the quarter was $46 million, with a year-to-date total of $117 million, indicating a 96% conversion of adjusted EBITDA in Q3 [6][18] Business Line Data and Key Metrics Changes - The number of scaled advertisers grew by 4% to 2,064, while average revenue per scaled advertiser increased by 11% [8][13] - The growth in ex-TAC gross profit was primarily driven by strong advertising spending, particularly from scaled advertisers [14] Market Data and Key Metrics Changes - The company expects nearly $2 billion in gross revenue for 2025, with over $700 million in Ex-TAC gross profit [5] - The advertising market is estimated to be a $55 billion opportunity, with Taboola positioned to capture market share as advertisers seek alternatives to search and social platforms [6] Company Strategy and Development Direction - The company is focusing on its performance platform, Realize, which aims to enhance advertiser success and drive growth [4][10] - Taboola is committed to increasing its market presence in performance advertising, aiming to become a leading platform outside of Google, Meta, and Amazon [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to double-digit growth over time, citing strong momentum and positive feedback from advertisers [4][22] - The company raised its full-year guidance, expecting revenues between $1.91 billion and $1.93 billion, reflecting continued business momentum [21] Other Important Information - The company repurchased approximately 10 million shares for a total consideration of $34.4 million in Q3, representing 14% of the company year-to-date [7][20] - The company secured a new $270 million revolving credit facility, allowing for reduced interest expenses and increased liquidity [19] Q&A Session Summary Question: What are the next steps for the Realize platform to capture more advertiser budgets? - Management highlighted three key areas: shifting market perception, focusing on the right clients, and continuous technology iteration [26][27] Question: Can you elaborate on the partnership with Paramount and its implications for CTV? - Management described the partnership as a demand generation opportunity, integrating TV and performance advertising to track conversions effectively [29][30] Question: What is the current state of traffic and its quality? - Management reported an increase in overall traffic, particularly from app traffic, and emphasized the importance of maintaining high-quality traffic for advertisers [40][41] Question: How is AI being utilized to improve yields and conversion rates? - Management explained that AI is used extensively for ad targeting and campaign optimization, with a focus on driving higher yields for advertisers [45][46] Question: What are the expectations for operating expenses and headcount growth? - Management indicated that operating expenses would grow in line with business growth while maintaining a target of 30% adjusted EBITDA margins [96][97] Question: What is the sustainability of growth for Taboola News? - Management expressed optimism about the growth of Taboola News, noting its unique supply strategy and immunity to LLM disintermediation [115]

Summary of Taboola.com (TBLA) FY Conference Call - August 12, 2025 Company Overview - **Company**: Taboola.com (TBLA) - **Industry**: Performance Advertising in the Open Web - **Market Opportunity**: $55 billion market opportunity in performance advertising [4][5] Core Business Model - **Unique Offering**: Taboola is a leading performance advertising platform that complements search and social advertising by providing targeted ads based on first-party data [3][4] - **Daily Reach**: The company reaches approximately 600 million people daily through partnerships with major publishers like Yahoo, Apple News, Disney, and NBC [4] - **Revenue Goals**: Targeting $2 billion in revenue from a $55.7 billion market, with over $200 million in adjusted EBITDA, representing a margin of over 30% [5] Financial Performance - **EBITDA Margin**: The company maintains a strong EBITDA margin of over 30% and a free cash flow of 70% of EBITDA, which is being used for share buybacks [5][67] - **Share Buybacks**: Taboola has repurchased 12% of its shares in the first half of the year and plans to continue aggressive buybacks [5][69] Market Position and Strategy - **Two-Sided Marketplace**: Taboola operates a two-sided marketplace with exclusive long-term relationships with 11,000 publishers, providing predictable inventory and access to consumer data [6][7] - **Shift to Performance Marketing**: The introduction of the Realize product marks a pivot towards broader performance marketing, allowing advertisers to use various ad formats beyond native advertising [12][14] - **Display Advertising Market**: Taboola estimates a $10 billion display ad market among its publishers, aiming to capture 30% market share [18] Growth and Future Outlook - **Growth Strategy**: The company aims to double its revenue from $2 billion to $4 billion primarily through increased demand and spending from advertisers [15][25] - **Realize Product Adoption**: Early signs of success with Realize include 650 advertisers trying the product, with existing advertisers increasing their spending [27][28] - **Focus on Performance Advertising**: Taboola is committed to performance advertising, avoiding branding-focused areas like CTV, which is seen as a competitive and less favorable market [36][39] Challenges and Market Dynamics - **Native Advertising Growth**: The native advertising space is not growing as expected, prompting the shift to a broader performance advertising strategy [22][23] - **Impact of Search Traffic**: Currently, only 5% of Taboola's traffic is driven by search, and the company has not seen significant impacts from changes in search dynamics [48][49] Technology and Innovation - **Use of AI and LLMs**: Taboola is leveraging machine learning and large language models (LLMs) across various departments to enhance productivity and create value [65][66] - **Predictive Audiences**: The company is developing features like predictive audiences to help advertisers optimize their campaigns [64] Conclusion - **Investment Philosophy**: Taboola prioritizes growth while maintaining profitability, with a focus on responsible business practices and maximizing shareholder value through buybacks and strategic investments [56][68] - **Future Expectations**: The company is optimistic about returning to double-digit growth through the successful adoption of Realize and continued investment in technology and partnerships [25][60]

Core Insights - Taboola.com Ltd. (TBLA) shares have increased by 36.5% over the past three months, outperforming its industry, sector, and the Zacks S&P 500 composite [1][9] - The company is positioned to capitalize on a $55 billion market through its Realize platform, which focuses on performance advertising [2][11] - TBLA is currently trading at a price-to-earnings multiple of 20.2, which is lower than the industry average of 29.7, indicating affordability [8] Company Performance - TBLA generated approximately $1.8 billion in revenues in 2024, with expectations to reach between $1.84 billion and $1.89 billion in 2025 [9][14] - The company reported over $200 million in adjusted EBITDA and about $150 million in free cash flow last year, with significant improvements in first-quarter results [13] - Management is increasing R&D spending to enhance AI capabilities while also expanding share buyback authorization to $240 million [15] Market Position and Strategy - Taboola is shifting its focus from native advertising to a broader performance advertising market, aligning with the growing demand for comprehensive digital solutions [11] - The company aims to drive incremental ad spend through new capabilities in its Realize platform and a targeted go-to-market strategy [12] - Online shopping is projected to grow at about 8% annually through 2027, which is expected to benefit TBLA as advertising budgets shift from traditional media to digital channels [11] Analyst Sentiment - The Zacks Consensus Estimate for TBLA's 2025 earnings per share indicates a significant increase of 3900% on higher revenues, with a Growth Score of A [16][18] - Analysts have shown optimistic sentiment, with earnings estimates for 2025 and 2026 moving upward in the past 60 days [16][18] Investment Consideration - Given its growth prospects, affordability, and positive analyst sentiment, TBLA is considered a strong candidate for investment [19][20]

Financial Data and Key Metrics Changes - Taboola's current gross revenue run rate is just under $2 billion, while the performance advertising market opportunity is estimated at over $55 billion [1][9] - The company has seen a 17% growth in scaled advertisers, which represent about 75-80% of its revenue, over the last two years [40][41] Business Line Data and Key Metrics Changes - Taboola is focusing on performance advertising, particularly in the open web, which is seen as a significant growth area due to diminishing returns in social media advertising [5][9] - The company has launched the Realize platform, which allows advertisers to pay on a CPC basis for display ads, enhancing the ease of use and performance tracking [21][24] Market Data and Key Metrics Changes - The performance advertising market is segmented, with approximately $25 billion from open web performance advertising and $30 billion from diminishing returns in social media [9][10] - 75% of advertisers are experiencing diminishing returns on their social media spend, indicating a shift in advertising strategies [16] Company Strategy and Development Direction - Taboola aims to capture a larger share of the performance advertising market by leveraging unique first-party data and AI capabilities [7][39] - The company is focusing on verticals such as travel, financial services, and direct-to-consumer products, where it has seen lower churn rates and higher spending growth [18][19] Management's Comments on Operating Environment and Future Outlook - Management believes that the shift towards performance advertising will continue due to macroeconomic challenges and the saturation of search and social media advertising [4][5] - The company is optimistic about its growth potential, particularly with the Realize platform, which is expected to contribute meaningfully to the business by 2026 [40][41] Other Important Information - Taboola has access to a unique dataset of 600 million daily active users and over a trillion monthly recommendations, which enhances its advertising effectiveness [35][39] - The company is committed to maintaining a conservative approach to guidance, allowing for potential upside as it executes its strategy [63] Q&A Session Summary Question: Can you walk us through the performance advertising opportunity? - The performance advertising market is estimated at over $55 billion, with significant potential in open web advertising and diminishing returns in social media [1][9] Question: How does the Realize platform enhance advertiser engagement? - Realize allows advertisers to pay only for clicks, improving transparency and performance measurement [21][24] Question: What metrics will be used to track Realize's client adoption? - The company will track scaled advertisers spending over $100,000 annually, which has grown 17% over the last two years [40][41] Question: What is the outlook for potential M&A opportunities? - Management is open to small, synergistic acquisitions but is focused on executing its current strategy without dilutive events [65][66]

Summary of Double Verify Conference Call Company Overview - **Company**: Double Verify - **Industry**: Digital Advertising Verification Key Points and Arguments 1. **Business Model**: Double Verify operates as an ad platform that ensures advertisers' digital media spend is viewable, brand safe, geographically aligned, and free from fraud. The company positions itself as an independent arbiter of digital media quality [4][5][6]. 2. **Q1 Performance**: The company reported a 17% revenue growth in Q1, a significant improvement from the previous year's growth rates of 10-15%. This growth was attributed to strong customer adoption of new solutions and scaling of existing customers [5][7][8]. 3. **Customer Adoption**: Notable new customers include KenView and Microsoft, with existing customers like Lilly and Novartis increasing their spending. The company emphasized the importance of upselling premium solutions to current customers [8][15][49]. 4. **Social Media Activation**: The launch of activation solutions on Meta in February has gained traction, with 20 new customers acquired, including major brands. The potential revenue from these new solutions is estimated to be between $40 million to $100 million over the next couple of years [10][11][12]. 5. **Market Diversification**: The company has a diversified revenue stream, with only 6% of total revenue coming from the auto industry, which is expected to be impacted by economic downturns. This diversification helps mitigate risks associated with specific sectors [24][25][49]. 6. **Advertising Spend Resilience**: Advertisers have become more performance-oriented and agile, learning from past economic shocks. This has led to a more resilient advertising spend, with less immediate reaction to market volatility [25][29]. 7. **Performance Solutions**: The company is evolving from a verification specialist to a performance and analytics provider. This includes the introduction of tools like SciBids AI and RockerBox, which help advertisers optimize their media spend and measure performance effectively [34][56]. 8. **Data Measurement**: Double Verify measures a vast amount of digital ad transactions, amounting to $8.3 trillion last year. This data is used to assess media quality and performance, providing valuable insights for advertisers [59][60]. 9. **Future Growth Potential**: The company anticipates significant growth in its social business and performance metrics, with projections of reaching $100 million in revenue from SciBids by 2028. The total addressable market (TAM) is expected to expand into billions due to these developments [66][67]. 10. **Competitive Differentiation**: Double Verify's competitive edge lies in its scale, breadth of offerings, and the ability to provide integrated solutions that enhance advertising performance. The company has established itself as a leader in the digital advertising verification space [70][71]. Other Important Content - **AI Utilization**: The company is leveraging AI to combat challenges posed by AI-generated content and fraud, while also improving operational efficiencies [73][74]. - **Innovation Day**: The upcoming innovation day is expected to highlight the company's long-term vision of becoming an essential performance platform for advertisers, along with financial insights [75][76].