Taboola reported a strong end to 2023, with Q4 revenue up 13%, ex-TAC Gross Profit up 6% year-over-year, and Adjusted EBITDA significantly exceeding the top end of the guidance range. The company anticipates 2024 to be a step function growth year.
Q4 2023 revenue increased by 13% year-over-year.
Q4 2023 ex-TAC Gross Profit increased by 6% year-over-year.
Adjusted EBITDA for Q4 2023 was $50.1M, exceeding the high end of the guidance range.
The company announced a new $100M buyback authorization.
Taboola expects significant growth in 2024, with revenue and ex-TAC Gross profit midpoints expected to grow ~33% and ~25%, respectively. The company reiterates 2024 Adjusted EBITDA of $200M+ and Free Cash Flow of $100M+.
Analyze how earnings announcements historically affect stock price performance