Taboola beats Q2 2024; revenue +29% YoY to $428M, Adj. EBITDA +138%

Taboola.com Ltd.

2024-Q2 EPS reported -$0.09 revenue$842,168,000

Revenue $428M (+29% YoY), ex-TAC gross profit $150M (+21% YoY), Adj. EBITDA $37M (+138% YoY), FCF $26M (+237% YoY).
Net loss improved to $4M from $31M a year ago; Non-GAAP net income $23M vs. ($1.4M) YoY.
Reiterates FY 2024 guidance: ex-TAC gross profit ~$667M (+25% YoY), Adj. EBITDA $200M+, FCF $100M+.
Updates FY 2024 revenue guidance to $1.735-$1.765B due to Yahoo revenue shift to ex-TAC; Q3 guidance initiated: rev $431M midpoint.
Repurchased $27M in shares during Q2; $66M remaining under authorization. Yahoo advertiser migration complete.

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