Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $89.3 million, exceeding initial expectations due to strong performance in CTV and digital out of home channels [17][18] - Adjusted EBITDA for Q1 2025 was $1.8 million, also higher than expectations, reflecting operational control and margin discipline [18][20] - Net loss on a GAAP basis was $8.3 million, compared to a net income of $11.8 million in Q1 2024 [21] - Non-GAAP net income was $5.4 million, down from $22.6 million in Q1 2024 [21] Business Line Data and Key Metrics Changes - Digital out of home revenue increased by 80% year over year, now representing 19% of total revenue, up from 6% last year [19] - CTV revenue grew by 31% year over year, accounting for 12% of total revenue compared to 5% last year [19] - Retail media vertical grew by 33% year over year, outperforming the broader market [16] - Web revenue declined by 28% year over year, now representing 46% of total revenue, down from 37% in the same quarter last year [19] Market Data and Key Metrics Changes - The company reported a strong performance in its core growth channels, with digital out of home and CTV continuing to outperform the market [16][19] - The acquisition of GreenBids is expected to significantly enhance the company's total addressable market and performance capabilities [24][25] Company Strategy and Development Direction - The company is focused on building Perion One as an outcome-driven platform for modern digital advertising, integrating AI-powered optimization and creative insights [6][9] - The acquisition of GreenBids is seen as a strategic move to enhance technology and expand into lower funnel performance opportunities [24][25] - The company is committed to investing in customers, technology, and people to drive long-term value [15][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the healthy pipeline for the rest of 2025, contributing to the raised guidance [31][35] - The company anticipates stabilization in web revenue starting next quarter, with expectations for continued growth in core channels [19][22] - The guidance for full year 2025 has been raised, reflecting improved outlook and stronger market position [26] Other Important Information - The company has a strong cash position of nearly $360 million, providing flexibility for growth and capital allocation [18][23] - The board approved an expansion of the share repurchase program to $125 million, reinforcing long-term confidence in the company's value [23] Q&A Session Summary Question: Guidance and Display Revenue Stabilization - Management raised guidance based on strong Q1 performance and healthy pipeline, expecting web revenue to stabilize [31][32] Question: Impact of GreenBids on Revenue - GreenBids is expected to contribute positively, with synergies already being realized, but full impact will be seen in 2026 [39][40] Question: Timeline for GreenBids Technology Integration - Integration of GreenBids technology into Perion One is immediate, with expected acceleration in customer acquisition over the next few quarters [44][45] Question: Familiarity and Excitement of CMOs with PerionOne - Positive responses from CMOs regarding the unified offering and custom algorithms, indicating strong market demand [51][52] Question: Strategy for Expanding Total Addressable Market (TAM) - The acquisition of GreenBids opens new capabilities in walled gardens, aligning with market shifts towards performance-based campaigns [58][61]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $89.3 million, exceeding initial expectations due to strong performance in CTV and digital out of home channels [18][19] - Adjusted EBITDA for Q1 2025 was $1.8 million, also higher than expected, reflecting operational control and margin discipline [19][21] - Net loss on a GAAP basis was $8.3 million, compared to a net income of $11.8 million in Q1 2024 [22] - Non-GAAP net income was $5.4 million, down from $22.6 million in Q1 2024 [22] Business Line Data and Key Metrics Changes - Digital out of home revenue grew by 80% year over year, now representing 19% of total revenue, up from 6% last year [20] - CTV revenue increased by 31% year over year, accounting for 12% of total revenue compared to 5% last year [20] - Retail media vertical grew by 33% year over year, outperforming the broader market [18] - Web revenue declined by 28% year over year, now representing 46% of total revenue, down from 37% in the same quarter last year [20] Market Data and Key Metrics Changes - The company reported that all growth engines, including digital out of home, CTV, and retail media, are outpacing market growth [9] - The acquisition of GreenBids is expected to significantly enhance the company's total addressable market and performance capabilities [25][26] Company Strategy and Development Direction - The company is focused on building Perion One as an outcome-driven platform for modern digital advertising, integrating AI-powered optimization and creative insights [6][9] - The acquisition of GreenBids is seen as a strategic move to enhance technology and expand into lower funnel performance opportunities [25][26] - The company is committed to investing in customers, technology, and people to drive long-term value [15][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the healthy pipeline for the rest of 2025, contributing to the raised guidance [32][36] - The company anticipates stabilization in web revenue starting next quarter, with expectations for continued growth in core channels [20][32] - The guidance for full year 2025 has been raised, reflecting improved outlook and stronger market position [27] Other Important Information - The company has a strong cash position of nearly $360 million, allowing for flexibility in executing growth strategies [19][24] - A share repurchase program has been expanded to $125 million, reinforcing long-term confidence in the company's value [24] Q&A Session Summary Question: Guidance and Display Revenue Stabilization - Management indicated that the guidance was raised due to strong Q1 performance and a healthy pipeline, with expectations for web revenue to stabilize [32][33] Question: Impact of Acquisition on Revenue Guidance - Management noted that the GreenBids acquisition will contribute to both revenue and EBITDA, with more significant impacts expected in 2026 [40][41] Question: Integration Timeline for GreenBids Technology - Management clarified that integration of GreenBids technology into Perion One will happen immediately, with expected acceleration in customer acquisition over the next few quarters [45][46] Question: Familiarity and Excitement of CMOs with PerionOne - Management reported positive responses from CMOs regarding the unified offering of PerionOne and the custom algorithm from GreenBids [51][53] Question: Strategy to Capitalize on Expanded TAM - Management explained that the acquisition of GreenBids opens new capabilities in walled gardens and aligns with the shift towards performance-based campaigns [58][62]

Financial Data and Key Metrics Changes - The company reported a 17% year-over-year revenue growth in Q1 2025, exceeding the prior outlook of 13% [6][24] - Adjusted EBITDA for Q1 was $41.5 million, representing a 31% margin, an increase from 29% in the prior year [24][30] - Net income for Q1 was $8 million, or $0.05 per share, compared to a net loss of $1.3 million, or $0.01 per share, in Q1 2024 [30] Business Line Data and Key Metrics Changes - Optimization revenue increased by 24% to $64.8 million, driven by sectors such as financial services, retail, and travel [25][27] - Measurement revenue grew by 4% to $48.4 million, with social media revenue increasing by 15% [26][27] - Publisher revenue rose by 33% to $20.9 million, attributed to the adoption of new Publica products [28] Market Data and Key Metrics Changes - Revenue outside of The Americas increased by 18% to $42.7 million, representing 32% of total revenue [29] - The company achieved a net revenue retention (NRR) of 109%, up from 107% in the previous quarter [30] Company Strategy and Development Direction - The company is focusing on three priorities for its 2025 product roadmap: performance, reach, and innovation [8][22] - There is a strong emphasis on AI-backed technology and expanding partnerships across various platforms [7][11] - The company is investing in mid-market strategies, targeting performance-based marketers with streamlined solutions [14][68] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit profitable growth for both Q2 and the full year 2025 [8][32] - The current macroeconomic environment is influencing budget shifts from measurement to optimization, reflecting a focus on efficiency and ROI [84][85] - The company is optimistic about its growth in China, with ongoing alpha testing and a strong pipeline of global brands [99] Other Important Information - The company is expanding its reach in emerging markets and investing in automation to simplify product activation for mid-market clients [68][130] - The company has secured several new partnerships and renewals, enhancing its position in key verticals [20][21] Q&A Session Summary Question: Can you discuss advertiser demand in the current digital advertising market? - Management noted that the focus on performance is driving demand, with a 24% growth in optimization reflecting the value offered to brands [48] Question: Is the open web measurement business still an onboarding point for new clients? - Management indicated that there is softness in open web display, but social measurement growth is strong, with a shift in budgets towards optimization [51] Question: What are the expectations for second quarter growth by discipline? - Management anticipates double-digit growth in total advertiser revenue and optimization, with single-digit growth in measurement [56] Question: Can you elaborate on the mid-market strategy? - The mid-market strategy focuses on performance-based marketers, with investments in automation and a dedicated sales team to drive growth [68][130] Question: How is the market responding to pre-bid optimization tools? - The adoption rate for pre-bid social optimization is in line with expectations, with advertisers reporting improved performance and ROI [91] Question: What is the outlook for the company's growth in China? - The company is pleased with the interest and engagement in China, with plans to continue alpha testing and expanding its presence [99]

Financial Data and Key Metrics Changes - The company reported a 17% year-over-year revenue growth in Q1 2025, exceeding the prior outlook of 13% [5][24] - Adjusted EBITDA for Q1 was $41.5 million, with a margin of 31%, an increase from 29% in the prior year [6][29] - Net income for Q1 was $8 million, or $0.05 per share, compared to a net loss of $1.3 million, or $0.01 per share, in Q1 2024 [29] Business Line Data and Key Metrics Changes - Optimization revenue increased by 24% to $64.8 million, driven by verticals such as financial services, retail, and travel [25] - Measurement revenue grew by 4% to $48.4 million, with social media revenue increasing by 15% [26] - Publisher revenue rose by 33% to $20.9 million, attributed to the adoption of new Publica products [27] Market Data and Key Metrics Changes - Revenue outside of The Americas increased by 18% to $42.7 million, representing 32% of total revenue [28] - Social media accounted for 58% of measurement revenue and 21% of total revenue in Q1 [26] - Video revenue increased by 14%, driven by growth in social media [27] Company Strategy and Development Direction - The company is focusing on three priorities for its 2025 product roadmap: performance, reach, and innovation [7][22] - A strategic emphasis on AI-backed technology and partnerships is being leveraged to enhance product offerings and customer value [6][16] - The company is expanding its reach in mid-market segments and investing in automation to simplify product activation for these clients [14][70] Management's Comments on Operating Environment and Future Outlook - Management expects double-digit profitable growth in Q2 and for the full year 2025, raising the revenue outlook based on strong Q1 performance [33][34] - The current macroeconomic environment is being closely monitored, with a focus on customer feedback regarding brand spend and product value [31][87] - The company is optimistic about its growth trajectory, particularly in performance-oriented solutions amid a competitive digital advertising landscape [48][49] Other Important Information - The company is investing in growing media channels, including audio and gaming, with new partnerships and product launches [15][105] - The company has secured several new wins and renewals in key verticals, reinforcing its leadership in the luxury goods sector [20][21] Q&A Session Summary Question: Can you discuss advertiser demand in the current digital advertising market? - Management noted that the focus on performance-oriented solutions is driving demand, with a 24% growth in optimization reflecting the value offered to brands [48][49] Question: How is the open web measurement business performing? - There is softness in the open web display business, but social measurement growth remains strong at 15% [51][52] Question: What are the expectations for second quarter growth by discipline? - Anticipated double-digit growth in total advertiser revenue, with optimization growth expected to be below Q1 levels [56][58] Question: Can you elaborate on the mid-market strategy? - The mid-market strategy focuses on performance-based marketers, with investments in automation and a dedicated sales team to drive growth [70][132] Question: How is the company leveraging AI in its products? - AI is integral to the company's operations, enhancing product performance and driving measurable outcomes for customers [16][106]

Financial Performance - Q1 2025 revenue reached $134.1 million, a 17% year-over-year increase[10] - The company's 2024 revenue was $530.1 million, representing a 12% year-over-year growth[10] - Adjusted EBITDA for Q1 2025 was $41.5 million, resulting in a 31% margin[10] - The adjusted EBITDA margin in 2024 was 36%[10] Business Metrics - The company's net revenue retention rate is 109%[10] - Large advertising customers, numbering 239, constitute 84% of the company's revenue mix[10] - Marketer revenue accounts for 84% of the revenue mix, while publisher revenue accounts for 16%[10] Market Opportunity - U S programmatic digital display ad spending is expected to grow from $159 billion in 2024 to $202 billion in 2026[17] - U S CTV ad spend is expected to grow 61% from $33 billion in 2025 to over $53 billion in 2029[17] - Global social media ad sales are expected to reach $244 billion in 2025[46]

5月9日，Applovin经历了一次显著的股价下跌，跌幅达到3.23%，这一动态引发了市场参与者的广泛关 注。然而，这一短暂的市场挫折并未掩盖公司在过去一个季度取得的非凡成就。Applovin公司在2025年 第一季度展现出令人惊叹的业绩表现，尤其是在其广告业务上，该收入同比增长71%，达到11.6亿美 元，显示出强劲的增长势头。 Applovin近期的成功很大程度上归功于公司战略性的转型。公司决定退出游戏业务，并以4亿美元的价 格将其出售给Tripledot，同时保留20%的股份。这一举措使Applovin能够重心转向高利润的广告业务， 并进一步巩固其在该领域的市场地位。随着AI技术的不断进步，尤其是Axon引擎的提升，Applovin得 以优化广告服务。这些创新不仅提升了公司的盈利能力，还吸引了更多的广告客户，巩固了其在行业中 的领先地位。 值得关注的是，Applovin在面临五份看空报告的挑战下，发布了一份超出市场预期的季度财报。尽管存 在市场不确定性和宏观经济压力，尤其是关税带来的不利影响，Applovin的收入指引仍保持强劲。Q2的 收入预期显示广告收入将继续以高达71%的速度增长，这与公司持续的战 ...

PubMatic, Inc. (NASDAQ:PUBM) Q1 2025 Earnings Conference Call May 8, 2025 4:30 PM ET Company Participants Stacie Clements - The Blueshirt Group, IR Rajeev Goel - Co-Founder and CEO Steve Pantelick - CFO Conference Call Participants Eric Martinuzzi - Lake Street Capital Zach Cummins - B. Riley Simran Biswal - RBC Jacob Armstrong - KeyBanc Andrew Boone - JMP Stacie Clements Good afternoon, everyone, and welcome to PubMatic's Earnings Call for the First Quarter of 2025. This is Stacie Clements with the Bluesh ...

Financial Data and Key Metrics Changes - Q1 revenue reached $616 million, representing a 25% year-over-year increase [45] - Adjusted EBITDA for the quarter was $208 million, reflecting a 34% margin [45] - Adjusted net income was $165 million, or $0.33 per fully diluted share [49] - Free cash flow was $230 million in Q1 [49] Business Line Data and Key Metrics Changes - CTV (Connected TV) remains the largest and fastest-growing advertising channel, representing a high 40s percentage share of the business [46] - Mobile accounted for a mid-30s percentage share of spend, while display represented a low double-digit share and audio around 5% [46] - The adoption of the Kokai platform accelerated, with about two-thirds of clients now using it, ahead of schedule [60] Market Data and Key Metrics Changes - North America represented approximately 88% of spend, while international markets accounted for about 12% [46] - International growth outpaced North America for the ninth consecutive quarter, driven by CTV [47] Company Strategy and Development Direction - The company aims to capture market share in a more competitive landscape, particularly in the open Internet space [19][40] - Innovations like OpenPath and the acquisition of Sincerra are expected to enhance supply chain efficiency and transparency [24][28] - The focus remains on maintaining independence and objectivity to differentiate from competitors like Google and Amazon [45][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate macroeconomic uncertainties and continue to grow [51] - The outlook for Q2 anticipates revenue of at least $682 million, reflecting a 17% year-over-year growth [51] - The company is optimistic about the open Internet's prospects following recent antitrust rulings against Google [19][70] Other Important Information - The company has no debt and ended the quarter with approximately $1.7 billion in cash and short-term investments [49] - A significant share repurchase program was executed, with $386 million of Class A common stock repurchased [50] Q&A Session Summary Question: Can you elaborate on the progress from product and go-to-market changes? - Management highlighted strong Q1 performance and noted that upgrades contributed to outperformance, with Kokai adoption ahead of schedule [56][60] Question: What are the implications of Google's antitrust verdict for DSPs? - Management believes the verdict will create a fairer market, allowing the company to compete more effectively against reduced competition from Google [65][70] Question: How does the company view Q2 guidance amid uncertainty? - Management remains optimistic, citing strong underlying business fundamentals and the ability to assist clients in navigating challenges [72][75] Question: How is the competitive landscape evolving, particularly with Amazon? - Management views Amazon's focus on Prime Video as a limitation, asserting that the company’s CTV growth is outpacing Amazon's advertising growth [80][82] Question: What progress is being made with OpenPath and expectations for the upfront? - Management anticipates a stronger performance for programmatic advertising during the upfronts, with ongoing improvements in OpenPath [90][92]

Financial Data and Key Metrics Changes - The company exceeded guidance in Q1 with a year-over-year revenue growth of 21%, up from 17% in the second half of the previous year, excluding the impact from a large DSP buyer and political advertising [5][27] - Adjusted EBITDA for Q1 was $8.5 million, representing a 13% margin, marking the thirty-sixth consecutive quarter of adjusted EBITDA profitability [32][34] - The company reported a GAAP net loss of $9.5 million, or -$0.20 per diluted share [34] Business Line Data and Key Metrics Changes - Omnichannel video revenues grew 20% year-over-year, accounting for 40% of total revenues, driven by strong CTV revenues which increased over 50% year-over-year [28] - Emerging revenue streams more than doubled year-over-year, with the Connect business continuing its rapid growth trajectory [29] - Display revenue declined 10% year-over-year, but excluding the large DSP buyer, all other display revenues grew over 20% year-over-year [29] Market Data and Key Metrics Changes - Ad spend for the top 10 ad verticals grew in the mid-single-digit percentages year-over-year, with health and fitness, food and drink, and style and fashion increasing over 10% [31] - The Americas and EMEA regions saw slight declines, while APAC grew over 8% year-over-year [32] Company Strategy and Development Direction - The company is focused on three guiding principles: anticipating shifts in advertising growth, closely managing costs, and aligning investments towards high-growth opportunities [11] - The company plans to leverage the anticipated shift from linear TV to streaming and expects increased spend consolidation as marketers seek greater efficiencies [12][14] - Investments in AI and generative AI are expected to drive growth and create efficiencies, with the launch of an end-to-end AI-powered platform [15][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current macroeconomic uncertainty, believing that digital advertising will emerge stronger post-recession [10][36] - The company anticipates continued growth in the second half of the year, with expectations of 15% plus growth in underlying business [39][40] - Management noted that advertisers are not currently pulling back on ad spend, and trends indicate a shift towards programmatic advertising [64][70] Other Important Information - The board of directors expanded the share repurchase plan by an additional $100 million, reflecting confidence in the company's strategy and financial profile [26] - The company has generated nearly $350 million in net cash from operations over the last four years, with $15.6 million in net cash provided by operating activities in the quarter [35] Q&A Session Summary Question: Update on Google antitrust ruling and its impact - Management indicated that the DOJ is assessing potential remedies, and the ruling has created opportunities for the company to gain market share as advertisers seek alternatives to Google [44][46] Question: Future of Supply Path Optimization (SPO) - Management believes SPO could reach as high as 75% of the business in the long term, with significant growth opportunities from existing relationships and new advertisers [48][49] Question: Trends with key DSP partner - Management noted stability in volumes with the key DSP partner, with expectations for solid performance in the second half of the year as they lap the impact of the DSP change [52][53] Question: Macro environment and ad spend outlook - Management observed that advertisers are scenario planning but are not pulling back on ad spend, with expectations for continued growth in CTV and other high-engagement formats [63][70] Question: Future roadmap for driving ROAS - Management outlined three key drivers for improving ROAS: leveraging first-party data, enhancing supply chain efficiency, and building performance solutions [84][87] Question: Breakdown of growth expectations - Management clarified that the anticipated 15% plus growth excludes the impact from the large DSP buyer and political advertising, with expectations for strong momentum in the second half of the year [89][90]

Financial Data and Key Metrics Changes - The company exceeded guidance in Q1 2025 on both revenue and adjusted EBITDA, with year-over-year revenue growth accelerating to 21%, up from 17% in the second half of the previous year [5][27] - Adjusted EBITDA for Q1 was $8.5 million, representing a 13% margin, marking the thirty-sixth consecutive quarter of adjusted EBITDA profitability [31] - The company reported a GAAP net loss of $9.5 million, or -$0.20 per diluted share [34] Business Line Data and Key Metrics Changes - Omnichannel video revenues grew 20% year over year, accounting for 40% of total revenues, driven by strong CTV revenues which increased over 50% year over year [28] - Emerging revenue streams more than doubled year over year, with the curation and data business, Connect, continuing its rapid growth trajectory [28][22] - Display revenue declined 10% year over year, but excluding the impact of a large DSP buyer, all other display revenues grew over 20% year over year [29] Market Data and Key Metrics Changes - Ad spend for the top 10 ad verticals grew in the mid-single-digit percentages year over year, with health and fitness, food and drink, and style and fashion increasing over 10% [30] - The Americas and EMEA regions saw slight declines, while APAC grew over 8% year over year [30] Company Strategy and Development Direction - The company is focused on three guiding principles: anticipating advertising growth shifts, closely managing costs, and aligning investments towards high-growth opportunities [10] - The company plans to leverage the anticipated shift from linear TV to streaming and the increased reliance on programmatic advertising [11][12] - Investments in AI and generative AI are expected to drive growth and create efficiencies, with the launch of a GenAI powered end-to-end platform [14][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current macroeconomic uncertainty, believing it creates opportunities for growth in digital advertising [9][36] - The company anticipates continued growth in the second half of the year, with expectations of 15% plus growth in underlying business [39] - Management highlighted the importance of maintaining strong relationships with customers and adapting to changes in ad spend behavior [9][66] Other Important Information - The board of directors expanded the share repurchase plan by an additional $100 million, reflecting confidence in the company's strategy and financial profile [26] - The company has generated nearly $350 million in net cash from operations over the last four years, with $15.6 million in net cash provided by operating activities in the quarter [35] Q&A Session Summary Question: Update on Google antitrust ruling and its impact - Management noted that the DOJ is assessing potential remedies and that the ruling has created a more competitive environment, allowing for potential market share gains for the company [43][45] Question: Future of Supply Path Optimization (SPO) - Management believes SPO could reach as high as 75% of the business in the long term, with significant growth opportunities from existing relationships and new advertisers [47][48] Question: Trends with key DSP partner - Management indicated stability with the key DSP partner, with expectations for solid performance in the second half of the year as they lap the impact of changes made last year [51][52] Question: Macro environment and ad spend outlook - Management observed that advertisers are scenario planning but are not currently pulling back on ad spend, with expectations for continued growth in CTV and other high-engagement formats [61][66] Question: Future roadmap for curation and data products - Management outlined three key drivers for improving return on ad spend: leveraging first-party data, enhancing supply chain efficiency, and building performance solutions [80][82]