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Jun 30, 2023
Outbrain Q2 2023 Earnings Report
Announced financial results exceeding Adjusted EBITDA guidance and ending the quarter at the high end of Ex-TAC gross profit guidance.
Key Takeaways
Outbrain's Q2 2023 results showed a revenue of $225.8 million, a net income of $11.3 million, and an Adjusted EBITDA of $3.5 million. The company exceeded its Adjusted EBITDA guidance and ended the quarter at the high end of its Ex-TAC gross profit guidance. The launch of Onyx by OutbrainTM, a new branding platform, is expected to significantly increase the company's total addressable market.
Revenue was $225.8 million, a 10% decrease year-over-year.
Net income was $11.3 million, compared to a net loss of $10.3 million in the prior year period.
Ex-TAC gross profit was $54.6 million, an 8% year-over-year decrease.
Adjusted EBITDA was $3.5 million, compared to $5.9 million in the prior year period.
Forward Guidance
Outbrain provided guidance for the third quarter and full year 2023.
Positive Outlook
- Ex-TAC gross profit of $56.5 million to $59.5 million for Q3 2023.
- Adjusted EBITDA of $7.5 million to $9.5 million for Q3 2023.
- Ex TAC Gross Profit of at least $237 million for full year 2023, consistent with previous guidance
- Adjusted EBITDA of at least $30 million for full year 2023, increasing previous guidance
Historical Earnings Impact
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Avg. Return Before/After Earnings
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