Strategic Performance and Market Positioning - Achieved 24% growth in cross-platform solutions and double-digit growth in local TV, driving total revenue to $357 million for 2025 [5] - Launched Cross-Platform Content Measurement (CCM) to provide a unified audience view across linear, CTV, mobile, and social platforms at the title level [5] - Deepened relationships with major media companies, resulting in nearly 25% year-over-year growth among key technology clients using measurement solutions [5] 2026 Outlook and Strategic Priorities - Expects 2026 revenue and adjusted EBITDA to follow 2025 trends, with Q1 revenue projected to be roughly flat year-over-year [5] - Anticipates continued double-digit growth in cross-platform offerings to offset expected declines in legacy national TV and syndicated digital products [5] - Projects a recovery in cross-platform growth rates in 2026 following a temporary slowdown caused by a strategy shift at a large retail media client in late 2025 [5] Operational and Structural Dynamics - Executed a pivotal recapitalization that eliminated $18 million in annual dividends and converted $80 million in preferred shares to common equity to simplify governance [5] - Reduced data costs significantly following a late-2024 amendment to the data license agreement with Charter [5] - Streamlined corporate governance and reduced costs by decreasing the size of the Board of Directors as part of the shareholder agreement [5] Financial Performance Insights - Noted a 3.1% decline in Research & Insights Solutions due to lower deliveries of custom digital products, despite gains in brand health products [5] - Identified higher employee incentive compensation, higher revenue share costs, and higher panel costs as primary drivers of a 1% increase in core operating expenses [6]

Core Insights - Comscore, Inc. is a prominent player in the media measurement and analytics sector, competing with major firms like Nielsen and known for its advanced cross-platform measurement capabilities [1] Financial Performance - On March 17, 2026, Comscore reported financial results that included a mixed performance, with earnings per share (EPS) of $0.53, which fell short of the estimated $1.94 [2][5] - The company achieved revenue of approximately $93.5 million, surpassing expectations, driven by a 24% increase in its cross-platform solutions segment [5] Financial Ratios and Health - Comscore's financial ratios indicate a complex health status, with a price-to-sales ratio of 0.10 and an enterprise value to sales ratio of 0.08, suggesting low trading prices relative to sales [3] - The enterprise value to operating cash flow ratio stands at 1.21, indicating strong operating cash flow [3] Strategic Position and Outlook - The revenue growth and strategic positioning of Comscore in the media measurement industry suggest potential for recovery and growth, with investors closely monitoring how the company addresses its challenges and leverages its strengths [4]

Financial Data and Key Metrics Changes - Total revenue for 2025 was $357.5 million, up 0.4% from $356 million in 2024, and adjusted EBITDA was $42 million, up 2.6% from 2024, resulting in an adjusted EBITDA margin of 11.8% [9][10][15] - Core operating expenses for 2025 increased by 1% year-over-year, primarily due to higher employee incentive compensation and revenue share costs [11] Business Line Data and Key Metrics Changes - Content & Ad Measurement revenue was $304.3 million, up 1% from 2024, driven by growth in cross-platform and local TV offerings [9] - Cross-platform revenue was $50.3 million, up 24.4% compared to the prior year, attributed to higher usage of Proximic and CCR products, along with the successful rollout of CCM [9][10] - Syndicated Audience revenue was $253.9 million, down 2.6% from 2024, due to declines in national TV and syndicated digital offerings [10] - Movies business generated $38.4 million in revenue, up 3.4% from the prior year [10] Market Data and Key Metrics Changes - The local TV business continued to execute at a high level, contributing to double-digit year-over-year growth [3] - The company anticipates continued double-digit growth from cross-platform offerings in 2026, which should offset declines from national TV and syndicated digital products [15] Company Strategy and Development Direction - The company aims to become the industry standard for modern measurement by building a fully integrated flywheel that connects offerings across planning, activation, buying, and measurement [6][7] - The focus is on enhancing cross-platform capabilities and integrating AI measurement to adapt to the evolving media landscape [7][8] - The recapitalization transaction was a pivotal step in transforming the company, allowing for strategic actions to streamline capital structure and enhance financial profile [16] Management's Comments on Operating Environment and Future Outlook - Management highlighted the challenges posed by a fragmented media landscape and the need for modern measurement solutions [5][6] - The company expects revenue in Q1 2026 to be roughly flat compared to Q1 2025, while continuing to invest in key areas to drive growth [15][16] Other Important Information - The company successfully eliminated $18 million in annual dividends and a $47 million special dividend obligation through recapitalization [3] - The board size was reduced to streamline costs and governance [4] Q&A Session Questions and Answers Question: Financial flexibility with structural changes - Management noted that freeing up $18 million in dividends and reducing board size enhances financial flexibility and positions the company for future investments in growth areas [19] Question: Cross-platform utilization and new partnerships - Management reported increased usage of cross-platform products and ongoing expansion of partnerships, with positive early adoption of the CCM product [20][21] Question: Local market evolution - Management expressed confidence in the local market's growth, emphasizing the company's unique position in providing local audience measurement and advanced targeting capabilities [22][23]

Financial Data and Key Metrics Changes - Total revenue for 2025 was $357.5 million, up 0.4% from $356 million in 2024, and adjusted EBITDA was $42 million, up 2.6% from 2024, resulting in an adjusted EBITDA margin of 11.8% [9][10][15] - Core operating expenses for 2025 increased by 1% year-over-year, primarily due to higher employee incentive compensation and revenue share costs [11] Business Line Data and Key Metrics Changes - Content & Ad Measurement revenue was $304.3 million, up 1% from 2024, driven by growth in cross-platform and local TV offerings [9] - Cross-platform revenue reached $50.3 million, up 24.4% compared to the prior year, attributed to higher usage of Proximic and CCR products, along with the successful rollout of CCM [9][10] - Syndicated Audience revenue was $253.9 million, down 2.6% from 2024, due to declines in national TV and syndicated digital offerings [10] - Movies business generated $38.4 million in revenue, up 3.4% from the prior year [10] Market Data and Key Metrics Changes - The local TV business experienced double-digit growth, contributing significantly to overall performance [10][12] - Cross-platform offerings are expected to continue driving growth, with double-digit growth projected for 2026 [15] Company Strategy and Development Direction - The company aims to become the industry standard for modern measurement by integrating offerings across planning, activation, buying, and measurement [6][7] - Focus on AI measurement innovation to understand consumer behavior and purchase decisions influenced by AI tools [7][8] - The recapitalization transaction was a strategic move to simplify the capital structure and enhance financial flexibility [3][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of cross-platform offerings and local TV adoption as key drivers for 2026 [15] - The company anticipates revenue in Q1 2026 to be roughly flat compared to Q1 2025, while continuing to invest in key business areas [16] Other Important Information - The company successfully eliminated $18 million in annual dividends and a $47 million special dividend obligation through recapitalization [3] - The board size was reduced to streamline costs and governance [3] Q&A Session Questions and Answers Question: Financial flexibility with structural changes - Management highlighted the elimination of $18 million in dividends and reduced board costs as key elements that enhance financial flexibility for future investments [19] Question: Utilization of existing partners and adding new partners - Management noted increased usage of cross-platform products and ongoing expansion of partnerships, with positive early adoption of CCM [20][21] Question: Local market evolution - Management indicated strong performance in local market transactions and anticipated continued success as audience-based buying evolves [22][23]

Financial Data and Key Metrics Changes - Total revenue for 2025 was $357.5 million, up 0.4% from $356 million in 2024, and adjusted EBITDA was $42 million, up 2.6% from 2024, resulting in an adjusted EBITDA margin of 11.8% [8][10] - Fourth quarter revenue was $93.5 million, down 1.5% from $94.9 million in the same quarter a year ago, with adjusted EBITDA for the quarter at $14.7 million, up 3.3% from the prior year quarter, resulting in an adjusted EBITDA margin of 15.7% [11][13] Business Line Data and Key Metrics Changes - Content & Ad Measurement revenue was $304.3 million, up 1% from 2024, driven by growth in cross-platform and local TV offerings [8] - Cross-platform revenue was $50.3 million, up 24.4% compared to the prior year, driven by higher usage of Proximic and CCR products, along with the successful rollout of CCM [8] - Syndicated Audience revenue was $253.9 million, down 2.6% from 2024, primarily due to declines in national TV and syndicated digital offerings [9] - Research and Insight Solutions revenue was $53.2 million, down 3.1% from 2024, mainly due to lower deliveries of certain custom digital products [9] Market Data and Key Metrics Changes - The local TV business continued to execute at a high level, contributing to double-digit year-over-year growth, while the movies business generated $38.4 million in revenue, up 3.4% from the prior year [9] - The company anticipates continued double-digit growth from cross-platform offerings in 2026, which should offset declines from national TV and syndicated digital products [14] Company Strategy and Development Direction - The company aims to become the industry standard for modern measurement by building a fully integrated flywheel that connects offerings across planning, activation, buying, and measurement [5][6] - The focus is on enhancing cross-platform capabilities and integrating AI measurement to adapt to the evolving media landscape [6][7] - The recapitalization transaction was a pivotal step in transforming the company, allowing for strategic actions to streamline capital structure and enhance financial profile [15] Management's Comments on Operating Environment and Future Outlook - Management highlighted the challenges posed by a fragmented media landscape and the need for modern measurement solutions to navigate complexity [5] - The company expects revenue in the first quarter of 2026 to be roughly flat compared to the first quarter of 2025, while continuing to invest in key areas to drive growth [15] Other Important Information - The company successfully eliminated $18 million in annual dividends and a $47 million special dividend obligation through recapitalization, which positions it better for future investments [3][4] - The company is focused on simplifying its capital structure and strengthening its balance sheet as it moves through 2026 [4] Q&A Session Summary Question: Financial flexibility with structural changes - Management noted that eliminating $18 million in dividends and reducing board size will free up the balance sheet for future investments in growth areas, particularly cross-platform execution [18] Question: Cross-platform utilization and new partnerships - Management reported increased usage of cross-platform audience products and ongoing expansion of partnerships, with positive early adoption of the CCM product [19][20] Question: Local market evolution - Management expressed confidence in the local market's growth, emphasizing the company's unique position in providing local audience measurement and advanced targeting capabilities [22][24]

Q4 2025 Earnings Call Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal and state securities laws, including, without limitation, our expectations, forecasts, plans and opinions regarding expected revenue in Q1 2026, our full-year 2026 performance and financial trends, revenue drivers and growth opportunities, future value creation and strategic transformation, customer adoption of our measurement products, the expected ...

Core Insights - Comscore, Inc. reported financial results for Q4 and full year 2025, highlighting solid progress in strategic areas, particularly in local TV and cross-platform business lines, which contributed to revenue growth [2][3] Financial Performance - Q4 2025 revenue was $93.5 million, a decrease of 1.5% from $94.9 million in Q4 2024. Content & Ad Measurement revenue declined by 2.7%, while cross-platform revenue grew by 9.6% [5][8] - For the full year 2025, revenue reached $357.5 million, up 0.4% from $356.0 million in 2024. Cross-platform solutions saw a 24% growth, driven by Proximic and CCR [8][10] - Net income for Q4 2025 was $3.0 million, slightly down from $3.1 million in Q4 2024, resulting in net income margins of 3.2% [7][12] - The company reported a net loss of $10.0 million for the year, significantly improved from a loss of $60.2 million in 2024, with net loss margins of 2.8% [12][13] Operating Expenses - Core operating expenses for Q4 2025 were $86.3 million, down 4.4% from $90.3 million in Q4 2024, primarily due to lower employee compensation and data costs [6][11] - Full-year operating expenses totaled $350.4 million, an increase of 1.0% compared to $347.1 million in 2024, driven by higher employee compensation and royalties [11] Adjusted EBITDA - Adjusted EBITDA for Q4 2025 was $14.7 million, compared to $14.2 million in Q4 2024, resulting in adjusted EBITDA margins of 15.7% [9][46] - For the full year, adjusted EBITDA was $42.0 million, up from $41.0 million in 2024, with adjusted EBITDA margins of 11.8% [13][32] Recapitalization and Strategic Actions - The company completed a recapitalization transaction in December 2025, which eliminated an $18.0 million annual dividend burden and enhanced alignment between common and preferred stockholders [15][17] - Following the recapitalization, Comscore is positioned to evaluate additional strategic actions to streamline capital structure and unlock growth [17][18] Balance Sheet and Liquidity - As of December 31, 2025, Comscore had cash, cash equivalents, and restricted cash totaling $26.8 million, with no outstanding borrowings under its revolving credit facility [14][34] - Outstanding debt under the senior secured term loan was $44.6 million [14] 2026 Outlook - The company expects continued double-digit revenue growth from cross-platform offerings in 2026, with Q1 2026 revenue anticipated to be roughly flat compared to Q1 2025 [16][17]

Core Viewpoint - Comscore, Inc. will hold a conference call to discuss its financial results for Q4 and the full year ended December 31, 2025, on March 17, 2026, at 5:00 p.m. ET [1] Group 1: Conference Call Details - The conference call can be accessed via live webcast or telephone, with advance registration required for telephone participation [2] - A replay of the conference call will be available via webcast after the event [3] Group 2: Company Overview - Comscore is a global partner for planning, transacting, and evaluating media across various platforms, providing comprehensive cross-platform measurement [4] - The company combines digital, linear TV, over-the-top, and theatrical viewership intelligence with advanced audience insights to empower media buyers and sellers [4]

Core Insights - The 2026 State of Programmatic Report indicates a shift in the programmatic market towards intentional spending and accountability, with 58% of media buyers expecting increased investment in 2026 and 87% valuing cross-channel performance metrics for decision-making [1][6]. Group 1: Market Trends - Programmatic advertising is entering a mature growth phase, with buyers focusing on purposeful budget allocation and demanding transparency and quality across all screens [2]. - CTV (Connected TV) and audio are the only media channels projected to see year-over-year budget growth, with CTV expected to capture an average of 26% of media budgets and audio 10% [6]. Group 2: AI and Optimization - AI-powered optimization is now considered essential, with 82% of marketers affirming its importance [6]. - The top AI applications anticipated for 2026 include audience targeting and modeling (88%), campaign pacing and bid automation (77%), measurement and attribution (71%), and fraud detection and brand safety (70%) [6]. Group 3: Budget Reallocation - A significant 45% of marketers are reallocating budgets from linear TV to CTV, while 21% are moving funds from linear to programmatic audio [6]. - More than half of the respondents (58%) expect their programmatic investment to increase in 2026, indicating a positive outlook for the programmatic market [6]. Group 4: Measurement and Effectiveness - Marketers prioritize conversion rate (62%), ROAS (47%), reach and frequency (46%), and click-through rate (39%) as key metrics for measuring programmatic campaign effectiveness [10]. - 43% of respondents plan to increase their use of contextual targeting in 2026, especially in privacy-regulated sectors where 50% identify contextual targeting as their main tactic [6].

Core Insights - ESPN will utilize Comscore Content Measurement (CCM) to gain a unified view of audience engagement across linear, streaming, digital, and social platforms, enhancing its understanding of total audience reach and programming impact [1][2] Audience Engagement - In September 2025, ESPN reached a total audience of 240.4 million people across all its platforms, with 74.6 million engaging through linear networks alone, indicating a more than 3X increase (+222%) when including digital and social audiences [3] Strategic Implications - The collaboration with Comscore allows ESPN to better communicate its reach and impact to advertisers, refine its content strategy, and differentiate its brand in a competitive media landscape [2][4] Comscore's Role - Comscore provides insights into audience overlap and platform-specific lift, along with person-level demographics that aid in content planning and ad sales strategy [6]