Company Overview - Innovid is a leading independent ad delivery and measurement platform for Connected TV (CTV)[12, 20] - The company empowers advertisers to shift investment from linear TV to connected TV[12] - Innovid has a global presence with 575+ employees, founded in 2007, and 16 offices worldwide[12] Market Opportunity - The global TV ad spending is a $200 billion market[10] - Estimated global ad spending on CTV is between $15 billion and $20 billion[10] - CTV is shifting from linear TV, creating opportunities and challenges[10, 11] Business Performance - In 2021, Innovid's revenue reached $90.3 million, representing a 31% year-over-year growth[37, 38] - CTV revenue grew by 48% year-over-year in 2021[35, 36] - CTV accounted for 45% of total revenue in 2021[35, 36] - The company's gross profit for 2021 was $72.5 million, with a gross margin of 80%[35, 38] - Adjusted EBITDA for 2021 was $5.4 million, resulting in a 6% margin[35, 38] Growth Strategy - Multiple levers to drive high growth including expanding client base, volume growth from existing customers, upselling additional modules, and geographic expansion[24] - Net Revenue Retention (NRR) Rate is calculated as percentage of revenue retained from existing core platform customers, including expansion revenue, downgrades, and churn[27] - The company's core client retention rate is high, with a Net Revenue Retention rate of 121% in 2021[27] Acquisition - Innovid acquired TVSquared for $100 million in cash and 12.5 million shares of Innovid[32] - TVSquared generated approximately $20-22 million in revenue in 2021, with revenue growth exceeding 40% year-over-year[33] Financial Guidance - For FY 2022, Innovid anticipates organic revenue between $110 million and $115 million, representing a 22-28% year-over-year growth[39]
Innovid (CTV) Investor Presentation - Slideshow