Q4 2025 Highlights & Supplemental Information February 25, 2026 Investor Relations Aadam Anwar investors@taboola.com Forward-Looking Statements - Disclaimer Certain statements in this presentation are forward-looking statements, including our Q1 2026 and full-year 2026 guidance and our expectations for Realize, our new performance advertising platform. Forward-looking statements generally relate to future events including future financial or operating performance of Taboola.com Ltd. (the "Company"). In some ...

Core Insights - Viewbix Inc. is in the process of acquiring Quantum X Labs Ltd., which includes its subsidiary Quantum Transportation, that has achieved a significant milestone in its quantum decoder program [1][4] Group 1: Quantum Transportation's Achievements - Quantum Transportation has successfully implemented its transformer-based neural decoder on AWS cloud, establishing the infrastructure to process complex quantum data at scale [2] - The completion of this cloud integration allows Quantum Transportation to prepare for engaging with quantum hardware design partners and transition to testing its decoder on real quantum hardware [3] Group 2: Acquisition Details - Viewbix has signed a definitive agreement to acquire up to 100% (and not less than 85%) of Quantum X Labs, which includes a growing patent portfolio in quantum error correction [4] - The acquisition is expected to close within 90 days from December 15, 2025, subject to customary closing conditions [4] Group 3: Company Overview - Viewbix Inc. operates in advanced technologies, particularly in digital advertising through its subsidiaries Gix Media Ltd. and Metagramm Software Ltd., focusing on automation and optimization of internet campaigns [5]

Core Viewpoint - Amazon is on the verge of joining the $3 trillion market cap club, driven by its diversified growth strategy and strong performance across its business segments [2][11]. Group 1: Market Position and Growth Potential - Amazon currently has a market cap of nearly $2.2 trillion, indicating it needs a 36% increase in stock price to reach $3 trillion [11]. - The company is expected to generate revenue of $807 billion in 2026, with a forward price-to-sales (P/S) ratio of less than 3, suggesting it would need approximately $1 trillion in annual revenue to support a $3 trillion market cap [11]. - Wall Street anticipates Amazon's revenue growth to be around 11% annually over the next five years, with potential to achieve a $3 trillion market cap as early as 2029 [12]. Group 2: Business Segments - Amazon operates three highly successful business segments: e-commerce, cloud services (AWS), and advertising, positioning it uniquely in the tech industry [4][6]. - The e-commerce segment reported net sales of $213.4 billion in the fourth quarter, a 14% year-over-year increase, contributing to a net income of $24.9 billion, up 18% [5]. - AWS remains a leader in cloud infrastructure, controlling 28% of the market, with a year-over-year growth of 30% in the fourth quarter, accounting for 18% of Amazon's revenue and 57% of its operating income [7][10]. Group 3: Advertising and AI Initiatives - Amazon's advertising revenue grew 23% year-over-year to $21.3 billion in the fourth quarter, making it the world's third-largest digital advertiser [8]. - The company is also a significant player in AI, with over 1,000 AI applications and services in development, indicating a strong focus on this area as a growth catalyst [9]. Group 4: Capital Expenditures and Investor Sentiment - Amazon plans to increase capital expenditures to $200 billion in 2026, up from $131 billion in 2025, which initially caused a stock price drop due to investor concerns [10]. - CEO Andy Jassy emphasized the existing demand for cloud and AI services, suggesting that the company's spending plans are a response to market needs rather than a sign of overextension [10]. Group 5: Valuation and Historical Performance - Amazon trades at less than 29 times earnings, which is a discount compared to the S&P 500's current multiple of 30 [13]. - Over the past decade, Amazon's stock price has increased by 633%, significantly outperforming the S&P 500's 251% gain, highlighting its compelling investment opportunity as it approaches a $3 trillion valuation [13].

Core Viewpoint - Evercore ISI maintains an Outperform rating and a $70 price target for The Trade Desk, anticipating a modest earnings beat in Q4 and constructive guidance for the future [1]. Group 1: Earnings Expectations - The Trade Desk is expected to deliver a modest earnings beat in Q4, with guidance likely to be in line, indicating a favorable outlook for Q1 [1]. - The firm estimates that gross spend excluding political ads decelerated by 2 percentage points in Q4 2024, following 8-point decelerations in both Q3 and Q2 2024 [3]. Group 2: Market Position and Competitive Landscape - Shares of The Trade Desk have declined approximately 33% year to date, leading to muted market expectations, prompting Evercore to reiterate its Tactical Outperform positioning [2]. - Despite some softness in the consumer packaged goods (CPG) category and increased competition from Amazon DSP, The Trade Desk has enhanced its value propositions, such as Audience Unlimited, to drive higher platform engagement and spending [2]. Group 3: Profitability Outlook - Evercore expects Street EBITDA estimates to be achievable and aligned with management guidance, implying roughly 9% quarter-over-quarter expense growth, which is above recent seasonal norms [3].

Core Insights - Yext has partnered with AdCellerant to enhance brand visibility management and optimization for organizations, combining Yext's platform with AdCellerant's expertise in digital marketing solutions [1][1] - The partnership aims to improve brand visibility across various digital channels, including search, maps, apps, AI interfaces, and paid media environments, emphasizing the need for both technology and strategic guidance [1][1] Partnership Focus - AdCellerant will provide a dedicated team of certified experts to help organizations maximize their investment in Yext, focusing on practical enablement through training, strategic guidance, and ongoing coaching [1][1] - The collaboration is designed to ensure that brands receive not only advanced technology but also the necessary support to achieve measurable business outcomes [1][1] Digital Ecosystem Support - The partnership allows organizations to maintain and enhance their brand visibility across multiple discovery surfaces, ensuring they remain competitive in a digital-first environment [1][1] - Both companies believe that success requires a long-term commitment to customer outcomes, beyond just software solutions [1][1] Scalability and Flexibility - The partnership is structured to help brands strengthen their adoption of Yext while providing flexibility as their digital strategies evolve [1][1] - AdCellerant offers over 60 digital marketing solutions, enabling brands to unify their organic presence with paid activation throughout the customer journey [1][1]

Industry Overview - The global digital advertising market is projected to grow at a CAGR of 9.4% from 2026 to 2035, indicating its attractiveness as a long-term growth market in the technology sector [1]. Company Profiles The Trade Desk (TTD) - TTD operates a leading demand-side platform (DSP) focused on data-driven advertising, facing significant competition from major players like Meta, Apple, Google, and Amazon [2][5]. - TTD's total operating costs surged 17% year over year to $457 million, driven by investments in enhancing platform capabilities [6]. - The company expects revenues of at least $840 million for Q4 2025, with a projected year-over-year revenue growth rate of 18.5% [9]. - TTD's AI-powered Kokai platform is used by 85% of its clients, strengthening its competitive position [8][11]. PubMatic (PUBM) - PUBM is a sell-side platform that helps publishers monetize their inventory, with a focus on connected TV (CTV) and retail media growth [2][10]. - PUBM reported over 50% year-over-year growth in CTV revenues in Q3, capitalizing on the shift of approximately $155 billion in linear television ad spend to digital formats [12]. - The company anticipates fourth-quarter revenues between $73 million and $77 million, with adjusted EBITDA projected between $19 million and $21 million [16]. - PUBM's revenues from emerging revenue streams grew over 80% year over year, contributing 10% of total revenues in Q3 [14]. Competitive Landscape - Both TTD and PUBM are experiencing growth in CTV and retail media but face rising competition and macroeconomic risks [11]. - TTD's focus on geographic expansion and AI integration presents both opportunities and challenges, particularly with regulatory changes [7][8]. - PUBM's reliance on major DSP clients poses risks, as evidenced by a recent revision in bidding approach affecting its top line [17]. Share Performance & Valuation - Over the past month, TTD and PUBM's shares have declined by 25.8% and 14.7%, respectively [20]. - TTD's shares are trading at a forward price/sales ratio of 3.55X, while PUBM's is at 1.09X, indicating a higher valuation for TTD [21]. Analyst Estimates - Analysts have kept estimates unchanged for both TTD and PUBM for the current fiscal year, indicating stability in expectations [22][24]. - TTD currently holds a Zacks Rank of 4 (Sell), while PUBM has a Zacks Rank of 3 (Hold), suggesting PUBM may be a better pick at the moment [25].

Core Viewpoint - illumin Holdings Inc. will report its fourth quarter and year-end 2025 financial results on March 13, 2026, before market open [1] Group 1: Financial Reporting - The financial results will be discussed in a live webcast featuring CEO Simon Cairns and Interim CFO Michael Amaro [2] - The webcast is scheduled for 8:30 AM ET on March 13, 2026, and will include a question-and-answer session [2] Group 2: Conference Call Details - Investors can register for the conference call webcast through the provided link [3] - It is recommended to connect at least 15 minutes prior to the call for any necessary software downloads [3] - A recording of the conference call will be available on the company's website after the event [3] Group 3: Company Overview - illumin is a leader in digital advertising technology, focusing on empowering marketers with a customer-centric approach [4] - The company provides a unified platform for planning, building, and executing marketing campaigns across various channels [4] - illumin serves clients in North America, Latin America, and Europe, with its headquarters in Toronto, Canada [4]

Core Viewpoint - Amazon.com, Inc. (NASDAQ:AMZN) is recognized as one of the best stocks to buy in 2026, despite recent share depreciation and ongoing scrutiny over its spending plans [1][3]. Analyst Ratings - As of February 19, 2026, 92% of 72 analysts have assigned a Buy rating to Amazon, with a median upside potential of 39.17% over the next year [2]. - The Buy rating persists even after an 18% decline in share price from February 2 to February 13, 2026, which resulted in a loss of $450 billion in market capitalization [2][3]. Company Spending Plans - Amazon's significant investment plan includes $200 billion allocated for artificial intelligence and robotics in 2026, which has raised concerns among investors regarding its long-term effects [3]. - Bank of America analyst Justin Post supports the spending strategy, noting that Amazon's investment is justified given its leading position in the AWS market [4]. Market Context - The recent share depreciation is one of the longest losing streaks for Amazon since 1997, indicating potential volatility in the stock [3]. - Despite the challenges, analysts believe that Amazon's investment in technology will position it favorably against competitors in the long run [4].

Group 1 - The Trade Desk, Inc. (TTD) has experienced a significant stock price collapse over the last 12 months, losing two-thirds of its market capitalization, which presents a contrarian investment opportunity [1] - The investment strategy focuses on GARP (Growth At a Reasonable Price) and turnaround stocks, emphasizing the importance of valuation in stock selection [1] - The author identifies stocks with limited downside potential and unlimited upside potential as part of their investment philosophy [1] Group 2 - The author is a professional portfolio manager with a background in business studies across multiple countries, including France, the U.S., and Russia [1] - The author's investment opinions and decisions are publicly available on the eToro platform, showcasing a transparent investment approach [1]

Group 1 - Bill Ackman purchased approximately 2.7 million shares of Meta Platforms valued at around $1.8 billion, making it the fifth-largest holding in his portfolio, accounting for about 11% of the total $15.5 billion portfolio [1] - Meta generated $200 billion in revenue in 2025, reflecting a 22% year-over-year growth, primarily driven by its core Family of Apps segment [1] - Meta's AI-driven ad ranking has delivered four times more revenue impact compared to simply increasing ad load, enhancing user engagement and ad targeting [1] Group 2 - Ackman completely exited his position in Chipotle Mexican Grill and increased his stake in Amazon by about 65%, bringing it to approximately 9.6 million shares, which now represents 14% of the portfolio [1] - Meta leads the digital advertising market with over 3.5 billion daily active users, showing a user growth of 7% in Q4 [1] - Meta trades at 22 times forward earnings, which is considered attractive given its growth prospects, with the core advertising business valued at a forward P/E of under 20 times [1]