Uber Joins the Ibotta Performance Network in Exclusive, Multi-Year Partnership Mar 25, 2026 8:15 AM Eastern Daylight Time Uber Joins the Ibotta Performance Network in Exclusive, Multi-Year Partnership Share Share "Ibotta's exclusive partnership with Uber makes it easier for brands to connect with consumers in a competitive marketplace,†said Bryan Leach, founder and CEO of Ibotta. "By putting offers directly into the Uber ecosystem, we are placing high-value savings in the palms of millions. Our partners now ...

Core Insights - The company anticipates continued growth in 2026, driven by strong performance in China and digital investments positively impacting physical retail [1][4] - China is highlighted as a significant growth driver, with revenue increasing over 56% for the full year, significantly outpacing the broader VMS market [2][7] - The company reported nearly 16% growth in its branded business and 12% consolidated revenue growth for 2025, with a strong outlook for 2026 targeting revenue above CAD 900 million [3][4] Financial Performance - Fiscal 2025 results showed consolidated revenue up about 12%, with Jamieson Brands rising 17% in Q4 [7][10] - Q4 consolidated revenue increased 13.4% to CAD 277.7 million, driven by Jamieson Brands growth [10][11] - SG&A expenses rose 20% in Q4, reflecting investments in performance marketing and global infrastructure [12] Growth Projections - Management guided for 2026 consolidated revenue of CAD 895–935 million, with Adjusted EBITDA of CAD 174–181 million and adjusted EPS of CAD 2.08–2.21 [6][18][21] - Regional growth expectations include 20–30% in China, mid-teens in the U.S., and 4–6% in Canada [28] Strategic Initiatives - The company is focusing on innovation and has successfully implemented a new SAP system to support operations [22] - There is ongoing interest in M&A, particularly targeting scaled quality brands in the U.S. with digital expertise [24] - The company emphasizes the importance of the VMS category, which continues to grow despite inflationary pressures [23]

Financial Data and Key Metrics Changes - The company reported fourth-quarter revenue of $225 million, representing a 23% year-over-year increase, and full-year revenue of $837 million, up 22% year-over-year [4][5][8] - Non-GAAP operating income for Q4 was $25 million, a 47% increase year-over-year, while full-year non-GAAP operating income reached $96 million, more than doubling from the previous year [4][9][10] - Adjusted free cash flow for the trailing twelve months increased to $118 million, with a cash balance of $98 million at year-end [7][10] Business Line Data and Key Metrics Changes - Revenue from consumer verticals grew 27% to $737 million, driven by personal loans, banking, and insurance, while SMB vertical revenue decreased 9% to $100 million due to organic search headwinds [8][9] - Lending revenue surged 141% year-over-year, with personal loans growing by 264% [8] - Insurance revenues increased by 13% year-over-year, supported by strong demand from auto carriers [7] Market Data and Key Metrics Changes - The company faced headwinds as consumers shifted towards AI Overviews and LLMs, leading to declines in organic search [4] - Performance marketing revenue growth offset declines in organic search, indicating a shift in consumer behavior [4][6] Company Strategy and Development Direction - The company plans to simplify revenue reporting from five categories to two: consumer and SMB, to better reflect consumer engagement across multiple product categories [11] - The focus remains on building deeper relationships with consumers and SMBs while investing in performance marketing [6][11] - The company is cautious about the banking business outlook due to potential declines in demand for high-yield savings accounts as interest rates drop [8] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in organic search but expressed confidence in performance marketing driving future growth [6][12] - The company expects first-quarter revenue to be in the range of $224 million to $232 million, reflecting a 9% year-over-year increase at the midpoint [11][12] - Management highlighted the importance of compliance and institutional buy-in in leveraging AI and LLMs for financial services [26][32] Other Important Information - The company completed $51 million in share repurchases during Q4, reflecting confidence in long-term prospects [10] - Management emphasized the need for a disciplined capital allocation strategy, including opportunistic share repurchases and potential acquisitions [10] Q&A Session Summary Question: Impact of LLM-based referral traffic - Management noted that LLM referral traffic appears to be incremental, with higher conversion rates compared to traditional searches [15] Question: SEO headwinds and profitability outlook - Management indicated that while organic revenue is declining, performance marketing revenue is offsetting this decline, focusing on adding non-GAAP operating income dollars rather than margin percentage [18] Question: Vertical integration strategy - Management discussed the importance of pairing brand reach with improved consumer experiences and the potential for vertical integration to enhance relationships with consumers [24] Question: Leveraging AI for product improvement - Management highlighted the broad use of AI to enhance internal operations and consumer-facing products, while ensuring compliance and auditability [32] Question: Traffic sources and performance marketing efficiencies - Management stated that performance marketing has been effective, leveraging brand strength and data infrastructure to drive improvements across various channels [39]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported revenue of $225 million, representing a 23% year-over-year increase, and non-GAAP operating income of $25 million, up 47% year-over-year [4][9] - For the full year 2025, total revenue reached $837 million, a 22% increase compared to 2024, with non-GAAP operating income exceeding 100% year-over-year to $96 million [5][10] Business Line Data and Key Metrics Changes - Revenue growth was primarily driven by personal loans, banking, and insurance, with lending revenue increasing 141% year-over-year, particularly due to a 264% growth in personal loans [8][9] - Consumer verticals revenue grew 27% to $737 million, while SMB vertical revenue decreased 9% to $100 million, largely due to organic search headwinds [9][10] Market Data and Key Metrics Changes - The company faced challenges as consumers shifted towards AI Overviews and LLMs, leading to declines in organic search traffic [4][5] - Despite these challenges, performance marketing and direct referral channels helped offset the declines, contributing to overall revenue growth [4][5] Company Strategy and Development Direction - The company plans to simplify its revenue reporting from five categories to two: consumer and SMB, to better reflect consumer engagement across multiple product categories [11] - The focus remains on building deeper relationships with consumers and SMBs while investing in performance marketing to drive growth [5][10] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued growth in performance marketing, although organic search is expected to remain under pressure [5][12] - The outlook for the banking business is cautious, as lower interest rates may reduce demand for high-yield savings accounts [8][12] Other Important Information - The company generated $118 million of adjusted free cash flow over the last four quarters and ended the year with a cash balance of $98 million [10] - Share repurchases totaled $51 million in Q4, reflecting confidence in the company's long-term prospects [10] Q&A Session Summary Question: Impact of LLM-based referral traffic - Management believes LLM referral traffic is incremental and shows higher conversion rates compared to traditional searches [16] Question: Organic traffic headwinds and profitability outlook - Management indicated that while organic revenue is declining, performance marketing revenue is offsetting this decline, focusing on adding non-GAAP operating income dollars rather than margin percentage [20] Question: Vertical integration strategy - The company is focused on creating stickier consumer experiences through vertical integration and is optimistic about future opportunities [26] Question: Leveraging AI for product improvement - AI is being used to enhance internal operations and consumer-facing products, with a focus on compliance and auditability [33][34] Question: Traffic sources and performance marketing efficiency - Performance marketing has been effective, with the brand's strength contributing to overall success, and the company is exploring efficiencies across various channels [40]

Financial Data and Key Metrics Changes - The company reported fourth quarter revenue growth of 36% year-over-year, with full year revenue also increasing by 36% [3][15] - Fourth quarter gross margins improved to 82%, up 530 basis points, while full year gross margins increased to 77%, up 560 basis points year-over-year [16][19] - Adjusted EBITDA for the fourth quarter was $28.1 million, up from $20.7 million in Q4 of 2024, representing a 36% increase [19] - The company achieved positive net income of $34.5 million for the fourth quarter, with a GAAP EPS of $0.47, while reporting a net loss of $6.4 million for the full year [18][19] Business Line Data and Key Metrics Changes - The core Performance TV (PTV) business saw gross margin improvements of over 300 basis points, contributing to overall margin growth [16] - The number of active PTV customers grew to 3,632, representing a 63% increase year-over-year [16][18] Market Data and Key Metrics Changes - The company generated over $18 billion in revenue for its customers in 2025, indicating strong market demand for connected TV advertising [6] - The expansion rate, measuring customer spend compared to the previous year, remained well above 115%, showing healthy customer retention and growth [18] Company Strategy and Development Direction - The company aims to democratize television advertising, focusing on small and mid-sized businesses (SMBs) and leveraging performance marketing [3][12] - Continued investment in AI technology, including QuickFrame AI, is a key part of the strategy to enhance customer experience and drive performance [8][26] - The company is focused on moving down-market to capture more SMB opportunities, which is seen as a significant growth area [17][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the performance TV market and the company's ability to capture market share [23][88] - The company plans to continue investing strategically in sales, marketing, and technology to support future revenue growth while maintaining profitability [20][48] Other Important Information - The company ended the quarter with $210 million in cash and cash equivalents, with no outstanding borrowings [20] - For Q1 2026, the company expects revenue in the range of $71.3 million to $73.3 million, representing 22.3% year-over-year growth [21][22] Q&A Session Summary Question: How does the company plan to continue driving growth? - Management highlighted the focus on the Performance TV market, moving down-market, and AI initiatives as key drivers for future growth [25][26] Question: What are the characteristics of new customers? - The company is focusing on SMBs, particularly in e-commerce and travel, with a growing presence of performance agencies [29][30] Question: Can you provide insights on QuickFrame AI? - QuickFrame AI has seen strong adoption, enabling faster and more cost-effective video ad creation for customers [37][38] Question: What are the benefits of the new sales force? - The new sales force is expected to drive future revenue growth by focusing on both mid-sized and small businesses [41][66] Question: How does the company measure attribution in CTV? - The company utilizes Verified Visits and an Identity Graph to provide comprehensive attribution measurement for its customers [61][62] Question: What is the long-term target for margins? - The long-term target for gross margin is 75%-80%, and for Adjusted EBITDA margin, it is 35%-40% [76][77]

Financial Data and Key Metrics Changes - The company reported a fourth quarter revenue growth of 36% year-over-year, with full year revenue also increasing by 36% [3][15] - Fourth quarter gross margins improved to 82%, up 530 basis points, while full year gross margins increased to 77%, up 560 basis points year-over-year [16][19] - Adjusted EBITDA for the fourth quarter was $28.1 million, up from $20.7 million in Q4 of 2024, representing a 36% increase [19] - The company achieved positive net income of $34.5 million for the fourth quarter, with a GAAP EPS of $0.47, while reporting a net loss of $6.4 million for the full year [18][19] Business Line Data and Key Metrics Changes - The core Performance TV (PTV) business improved gross margins by over 300 basis points, contributing to the overall margin improvements [16] - The number of active PTV customers grew to 3,632, representing a 63% increase year-over-year [16][18] Market Data and Key Metrics Changes - The company generated over $18 billion in revenue for its customers in 2025, indicating strong market demand for connected TV advertising [6] - The expansion rate, measuring the spend of current customers compared to the previous year, remained well above 115%, showing continued customer investment [18] Company Strategy and Development Direction - The company aims to democratize television advertising, focusing on small and mid-sized businesses (SMBs) and leveraging performance marketing [3][12] - Continued investment in AI technology, including tools like QuickFrame AI, is a key part of the strategy to enhance customer experience and drive performance [8][26] - The company is focused on moving down-market to capture more SMB opportunities, which is seen as a significant growth area [17][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum and the underlying health of the business, anticipating continued growth in the performance television market [20][23] - The company expects Q1 2026 revenue in the range of $71.3 million to $73.3 million, representing a 22.3% year-over-year growth at the midpoint [21][22] Other Important Information - The company ended the quarter with $210 million in cash and cash equivalents, with no borrowings outstanding, indicating a strong balance sheet [20] - The company plans to continue investing strategically in sales and marketing, as well as technology and development, to support future revenue growth [20][48] Q&A Session Summary Question: How does the company plan to continue driving growth? - Management highlighted the focus on the Performance TV market, moving down-market towards smaller businesses, and AI initiatives as key growth drivers [25] Question: What are the characteristics of new customers? - New customers are primarily small- and mid-sized businesses in e-commerce and travel, with a growing number of performance agencies also joining [29] Question: Can you provide insights on QuickFrame AI? - QuickFrame AI has seen strong adoption, enabling customers to create TV commercials faster and at lower costs, with ongoing improvements based on user feedback [37] Question: What are the benefits of adding more sales force? - The new sales hires are focused on both mid-sized and small businesses, aiming to drive future revenue growth [41] Question: How does the company measure attribution in CTV? - The company utilizes Verified Visits and an Identity Graph to provide comprehensive attribution measurement, connecting viewing data across devices [61] Question: What is the long-term target for margins? - The long-term target for gross margin is 75%-80%, and for Adjusted EBITDA margin, it is 35%-40% [76]

Financial Data and Key Metrics Changes - The company reported a fourth quarter revenue growth of 36% year-over-year, with full year revenue also increasing by 36% [3][13] - Fourth quarter gross margins improved to 82%, up 530 basis points, while full year gross margins increased to 77%, up 560 basis points year-over-year [15][18] - Adjusted EBITDA for the fourth quarter was $28.1 million, up from $20.7 million in Q4 of 2024, reflecting a 36% increase [18] - The company achieved positive net income of $34.5 million for the fourth quarter, with a GAAP EPS of $0.47, while reporting a net loss of $6.4 million for the full year [17][18] Business Line Data and Key Metrics Changes - The number of active PTV customers reached 3,632, representing a year-over-year growth of 63% [15] - The company has made significant inroads into the SMB market, indicating a strong applicability of its platform across various company sizes [16] Market Data and Key Metrics Changes - MNTN campaigns generated over $18 billion in revenue for customers in 2025, showcasing the effectiveness of its advertising platform [5] - The company is focused on performance marketing, targeting small and mid-sized businesses, particularly in e-commerce and travel [27] Company Strategy and Development Direction - MNTN aims to democratize television advertising by focusing on performance marketing rather than traditional brand advertising [3][4] - The company is leveraging AI technology to enhance customer targeting and campaign management, with initiatives like QuickFrame AI to streamline the ad creation process [6][24] - MNTN is committed to expanding its market share in the performance television sector while continuing to innovate and improve its platform [11][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum and the underlying health of the business, anticipating continued growth and profitability [19][21] - The company expects Q1 2026 revenue in the range of $71.3 million to $73.3 million, representing a 22.3% year-over-year growth [20] Other Important Information - The company ended the quarter with $210 million in cash and cash equivalents, with no borrowings outstanding [19] - MNTN is focused on maintaining a strong balance sheet while investing strategically in sales, marketing, and technology [19][46] Q&A Session Summary Question: How does the company plan to continue driving growth? - Management highlighted the focus on the Performance TV market, sales, marketing, and product initiatives as key drivers for future growth [23] Question: Can you provide insights on new customers? - The company is focusing on small and mid-sized businesses, predominantly in e-commerce and travel, with a growing segment of performance agencies [27] Question: What improvements have been seen with QuickFrame AI? - QuickFrame AI has enabled faster ad creation and increased adoption among new and existing customers, enhancing the overall customer experience [35] Question: What is the focus of the new sales and marketing hires? - The new hires are primarily focused on the SMB market, aiming to drive demos and revenue growth [38] Question: How does the company measure attribution in CTV? - MNTN utilizes Verified Visits and an Identity Graph to provide comprehensive attribution measurement, connecting various devices to track ad effectiveness [59] Question: What are the expectations for gross margins moving forward? - The long-term target for gross margins is set at 75%-80%, with expectations for continued revenue growth to support margin expansion [74]

Investor Presentation. February 2026 Disclaimer. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All state ...

Core Insights - Ibotta, Inc. released its third annual State of Spend report indicating that consumers feel less direct impact from inflation but remain focused on value [1] - Brand loyalty among consumers is weakening, suggesting a fundamental shift in how consumer packaged goods (CPG) brands acquire and retain customers [1] - Consumers are not reverting to pre-inflation shopping habits, indicating a change in purchasing behavior [1]

Accelerating the Genius Sports Media Strategy February 2026 Legend to Join Genius Sports Disclaimer Forward-Looking Statements This presentation contains forward-looking statements as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements, including but not limited to statements relating to the closing timeline of ...