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Sep 30, 2024
Outbrain Q3 2024 Earnings Report
Achieved Q3 guidance on Ex TAC gross profit and exceeded Adjusted EBITDA expectations, improved margins and profitability, and generated positive cash flow for 5th consecutive quarter.
Key Takeaways
Outbrain reported a strong third quarter in 2024, achieving its Ex-TAC gross profit guidance and exceeding Adjusted EBITDA expectations. The company demonstrated improved margins and profitability, generating positive cash flow for the fifth consecutive quarter. Revenue was $224.2 million, a 3% decrease compared to the prior year period. Net income was $6.7 million, compared to $0.5 million in the prior year period.
Continued multi-quarter trends of year-over-year growth of Ex-TAC gross profit, improvement in Ex-TAC gross margin, and growth in Adjusted EBITDA.
Fourth consecutive quarter of year-over-year RPM growth.
Total advertiser spend on our platform increased 6% year-over-year in Q3.
Continued supply expansion outside of traditional feed product representing approximately 28% of our revenue in Q3 2024, versus 26% in Q3 2023.
Forward Guidance
For the fourth quarter ending December 31, 2024, Outbrain expects Ex-TAC gross profit of $67.5 million to $72.5 million and Adjusted EBITDA of $15.0 million to $18.5 million.
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