TechTarget: Informa Tech Digital Businesses restate Q2 2024 financials; errors corrected

TechTarget, Inc.

Informa Tech Digital Businesses restated unaudited condensed combined financials for six months ended June 30, 2024.
Errors: understatement of interest income ($1.7M) and interest expense ($0.5M) on cash pooling; bad debt provision understated $0.5M.
Restated net loss for H1 2024 is $55.3M, compared to previously reported $56.0M (change of $0.7M).
Related party loans receivable adjusted up $1.7M; related party short-term debt up $0.5M.
Q1 2024 financials also amended; merger with TechTarget expected to close H2 2024.

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