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Dec 31, 2023
Taboola Q4 2023 Earnings Report
Taboola reported strong net income and Adj. EBITDA, exceeding the high end of guidance for Q4 and FY 2023. The 2024 guidance calls for a record year with substantial growth across all key metrics.
Key Takeaways
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.
Forward Guidance
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+.
Positive Outlook
- Revenue and ex-TAC Gross profit midpoints expected to grow ~33% and ~25%, respectively.
- Yahoo ramping with $100M+ in Q1 2024.
- Investments in AI panning out with yields growing in 2024.
- Another iconic consumer company selecting Taboola as a new official advertising partner.
- Growth engines (eCommerce, Taboola News and Bidder) all having a lot of momentum.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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