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Sep 30, 2024
Taboola Q3 2024 Earnings Report
Taboola's Q3 2024 earnings were strong, beating revenue, ex-TAC, and Adjusted EBITDA. The company reiterated its 2024 revenue, ex-TAC, and Adjusted EBITDA guidance and raised its 2024 Free Cash Flow target.
Key Takeaways
Taboola reported strong Q3 2024 results, exceeding expectations for revenue, ex-TAC gross profit, and Adjusted EBITDA. The company raised its 2024 free cash flow target, and the CEO expressed confidence in achieving full-year guidance.
Revenues reached $433 million, gross profit was $133 million, ex-TAC gross profit was $166 million, and free cash flow was $43 million.
Net loss amounted to $6 million, while non-GAAP net income was $22 million, and Adjusted EBITDA was $48 million.
Revenue grew by 20% year-over-year, ex-TAC gross profit grew by 30% year-over-year, Adjusted EBITDA grew by 110% year-over-year, and Free Cash Flow grew by 88% year-over-year.
The company raised 2024 FCF target from $100M+ FCF (2x+ YoY) to $105M+
Forward Guidance
For Q4 2024, Taboola anticipates revenues of $460 - $490 million, gross profit of $180 - $196 million, ex-TAC Gross Profit of $205 - $221 million, and Adjusted EBITDA of $83 - $99 million. For the full year 2024, the company expects revenues of $1,735 - $1,765 million, gross profit of $535 - $555 million, ex-TAC Gross Profit of $656 - $679 million, and Adjusted EBITDA of $200+ million.
Positive Outlook
- Q4 revenue is expected to be $460 - $490 million (+13% YoY).
- Q4 gross profit is expected to be $180 - $196 million (+36% YoY).
- Q4 ex-TAC Gross Profit is expected to be $205 - $221 million (+26% YoY).
- Q4 Adjusted EBITDA is expected to be $83 - $99 million (+82% YoY).
- Raising 2024 FCF target from $100M+ FCF (2x+ YoY) to $105M+
Historical Earnings Impact
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