Q4 2023 Financial Performance - Total revenue for Q4 2023 was $38.6 million, representing a 15% year-over-year increase compared to $33.7 million in Q4 2022 [15, 31] - Adjusted EBITDA for Q4 2023 was $8.3 million, a significant increase from $3.0 million in Q4 2022 [31] - Adjusted EBITDA margin percent for Q4 2023 was 21%, compared to 9% in Q4 2022 [22, 31] Revenue Breakdown & Growth - CTV accounted for 52% of video impressions in Q4 2023 [7, 22] - Measurement share of total revenue was 22% in Q4 2023 [7, 32] - CTV video impressions growth was 16% in Q4 2023 [22] Outlook - The company projects revenue between $34 million and $36 million for Q1 2024 [25] - The company projects revenue between $154 million and $162 million for the full year 2024 [25] - Adjusted EBITDA is expected to be between $3 million and $4 million for Q1 2024 [8] - Adjusted EBITDA is expected to be between $22 million and $28 million for the full year 2024 [8] Non-GAAP Measures - Adjusted EBITDA is defined as net loss attributable to Innovid, excluding several items including depreciation, amortization, stock-based compensation, finance expenses, transaction related expenses, acquisition related expenses, retention bonus expenses, legal claims, severance cost, other, and taxes on income [20, 28] - Adjusted EBITDA margin percent is calculated as Adjusted EBITDA divided by total revenue [20, 28]
Innovid (CTV) - 2023 Q4 - Earnings Call Presentation