Loading...
•
Sep 30, 2023
Taboola Q3 2023 Earnings Report
Taboola exceeded high end of guidance on all metrics.
Key Takeaways
Taboola's Q3 2023 revenues reached $360.2M, with a gross profit of $100.7M. The company experienced a net loss of $23.1M, but achieved a non-GAAP net income of $6.7M and an adjusted EBITDA of $22.8M. Net cash from operating activities was $32.5M, and free cash flow was $22.8M.
Q3 2023 Revenues of $360.2M, Gross Profit of $100.7M, ex-TAC Gross Profit of $128.4M, Net loss of $23.1M, Non-GAAP Net Income of $6.7M and Adjusted EBITDA of $22.8M.
Net cash provided by operating activities of $32.5M and Free Cash Flow in Q3 2023 of $22.8M.
eCommerce double-digit growth in Q3, on track to reach nearly 20% of ex-TAC in 2023.
Raising 2023 Adjusted EBITDA range to $75M - $82M and Non-GAAP Net Income range to $7M - $12M.
Forward Guidance
Taboola raises 2023 Adjusted EBITDA range to $75M - $82M and Non-GAAP Net Income range to $7M - $12M. The company continue to expect positive Free Cash Flow and are reiterating 2024 guidance of $200M+ Adjusted EBITDA, $100M+ Free Cash Flow.
Positive Outlook
- Revenue from new publisher partners continues to be an area of strength.
- Renewed relationships with many well-known publishers.
- Rolled out a new Taboola News partnership with realme, the world’s fastest-growing smartphone brand, powering recommendations on mobile devices for audiences in Europe, Southeast Asia and beyond, representing more than 6M devices.
- New features and momentum for our Generative AI technology, including the introduction of Taboola Generative AI Admaker
- Raising 2023 Adjusted EBITDA range to $75M - $82M and Non-GAAP Net Income range to $7M - $12M.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...