Outbrain Q3 Adj. EBITDA $11.5M beats guide; repurchases notes; raises FY outlook

Teads Holding Co.

2024-Q3 EPS reported -$0.10 revenue$655,289,000

Revenue $224.2M (-3% YoY); Ex-TAC gross profit $59.7M (+5% YoY); net income $6.7M vs $0.5M a year ago.
Adjusted EBITDA $11.5M (+12% YoY); Q4 guide: Ex-TAC GP $60-63M, Adj. EBITDA $14-16M.
Repurchased remaining $118M convertible notes for $109.7M in Sep 2024; no long-term debt outstanding.
Free cash flow $8.7M (+387% YoY); fifth consecutive quarter of positive free cash flow.
Full-year 2024 Adj. EBITDA outlook raised to $34-36M from prior $30-35M; Teads acquisition on track for Q1 2025.

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