Business
Comscore Reports Third Quarter 2022 Results
Revenue of $92.8 million, up 0.3% from Q3 2021 Net loss of $52.4 million versus net income of $2.0 million in Q3 2021 Adjusted EBITDA of $11.7 million, up
About this update from Comscore, Inc.
[{"type":"text","content":"\nRevenue of $92.8 million, up 0.3% from Q3 2021\n\nNet loss of $52.4 million versus net income of $2.0 million in Q3 2021\n\nAdjusted EBITDA of $11.7 million, up 4.0% from Q3 2021\n\nUpdating 2022 revenue guidance and maintaining adjusted EBITDA margin guidance\n\n RESTON, Va.--(BUSINESS WIRE)--\nComscore, Inc. (Nasdaq: SCOR), a trusted partner for planning, transacting, and evaluating media across platforms, today reported financial results for the quarter ended September 30, 2022.\n\nQ3 2022 Financial Highlights\n\n\nRevenue for the third quarter was $92.8 million compared to $92.5 million in Q3 2021\n\n\nCross Platform Solutions revenue grew 14.0% year over year to $40.4 million, driven by local and national TV measurement and a continued rebound in Movies\n\n\nDigital Ad Solutions revenue declined 8.2% to $52.4 million due to slower ad spend, which impacted Activation and other digital products\n\n\nNet loss of $52.4 million compared to net income of $2.0 million in Q3 2021, resulting primarily from a non-cash goodwill impairment charge of $46.3 million and restructuring costs of $5.8 million in Q3 2022\n\n\nAdjusted EBITDA of $11.7 million compared to $11.3 million in Q3 2021\n\n\nRecent Business Developments\n\n\nLaunched Comscore TV Pulse, which provides content measurement data within 48 hours nationally and to all 210 local markets\n\n\nEntered into two new currency partnerships – one with Dentsu that enables the agency network to shift local TV buying to a Comscore-based currency, supporting transactions on advanced audiences in all 210 markets, and the other with Fox Television Stations, which allows the local TV broadcaster to leverage a Comscore-based currency to support transactions on advanced audiences across its entire owned and operated footprint\n\n\nExpanded a multiyear contract with Scripps, which now includes using Comscore as currency for all Scripps local stations, adding 16 new markets to our existing relationship\n\n\nPartnered with FreeWheel to launch advanced Connected TV (\"CTV\") contextual targeting capabilities on Beeswax, FreeWheel's demand-side platform, which provides media buyers with access to Comscore's privacy-forward Predictive Audiences and CTV brand protection offering for premium video\n\n\nReleased a new user interface for Comscore Campaign Ratings, which is now the only cross-platfor...