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Dec 31, 2025
Zeta Global Q4 2025 Earnings Report
Zeta Global reported record financial results for the fourth quarter and full year 2025, achieving positive GAAP net income and raising its 2026 outlook.
Key Takeaways
Zeta Global delivered a strong fourth quarter with revenue of $395 million, up 25% year-over-year, and achieved a significant milestone by turning GAAP net income positive. The company reported its 18th consecutive 'beat and raise' quarter, driven by the compounding power of its proprietary data and AI-driven Marketing Cloud. Based on strong momentum and the integration of the Marigold acquisition, management significantly increased guidance for 2026 and raised long-term 2028 targets.
Delivered Q4 revenue of $395M, exceeding the midpoint of guidance by $14M with 25% year-over-year growth.
Achieved positive GAAP net income of $6.5M in Q4, representing a 1.7% margin.
Grew Super-Scaled Customer count to 184, an increase of 24% compared to the prior year.
Raised full-year 2026 revenue guidance to a midpoint of $1.756B and increased the 2028 revenue target to at least $2.3B.
Forward Guidance
Zeta Global raised its full-year 2026 outlook across all key metrics and introduced higher long-term targets for 2028 following the Marigold acquisition.
Positive Outlook
- Increased FY 2026 revenue guidance to a range of $1.749B to $1.762B.
- Raised FY 2026 Adjusted EBITDA guidance to a range of $389.9M to $392.1M.
- Expects FY 2026 Free Cash Flow to reach between $230.7M and $231.7M.
- Guiding to positive GAAP Net Income for the full year 2026.
- Increased Zeta 2028 revenue target to at least $2.3 billion with a 25% Adjusted EBITDA margin.
Challenges Ahead
- Year-over-year growth rates are expected to normalize when excluding political candidate revenue.
- Integration risks associated with the Marigold's Enterprise Business acquisition.
- Potential fluctuations in operating results due to macroeconomic trends.
Historical Earnings Impact
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