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Mar 31, 2024
Outbrain Q1 2024 Earnings Report
Achieved Q1 guidance, improved margins and profitability, and generated positive cash flow while continuing progress on growth drivers.
Key Takeaways
Outbrain's Q1 2024 results show a revenue of $217.0 million, a gross profit increase, and a net loss reduction. The company saw strong brand and agency spend, expanded supply partnerships, and generated positive cash flow.
Total direct spend from brand and agency customers reached over $100 million, representing over 40% of total advertiser spend.
Partnership with Scope3 launched OnyxGreen, reducing carbon emissions by up to 30%.
Advertiser spend on the Zemanta DSP grew by approximately 40%.
Supply partnerships beyond traditional feed inventory now drive over 25% of total advertiser spend.
Forward Guidance
For the second quarter ending June 30, 2024, Outbrain expects Ex-TAC gross profit of $53 million to $57 million and Adjusted EBITDA of $1 million to $4 million. For the full year ending December 31, 2024, the company continues to expect Ex-TAC gross profit of $238 million to $248 million and Adjusted EBITDA of $30 million to $35 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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