Business
Taboola Beats Q2 Guidance, Raises Expectations for Rest Of The Year and 2022
Increases full year guidance across all measures, now expects to grow Gross Profit and ex-TAC Gross Profit 22 to 24% and 22 to 23%, respectively, for the
About this update from Taboola.com Ltd.
[{"type":"text","content":"Increases full year guidance across all measures, now expects to grow Gross Profit and ex-TAC Gross Profit 22 to 24% and 22 to 23%, respectively, for the year.\nNEW YORK, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Taboola (Nasdaq: TBLA), a global leader in powering recommendations for the open web, helping people discover things they may like, today announced its results for the quarter ended June 30, 2021. “We went public over one month ago, and we recently announced that we are acquiring Connexity for $800M to bring e-Commerce to the open web in a big way, and we had strong momentum in Q2,” said Adam Singolda, Founder & CEO, Taboola. “I’m pleased to share that our Q2 results included growth and profits above our expectations as we continue to grow our publisher partners, with new partnerships with publications such as BBC, Hearst, SheMedia and others. We’re also seeing growth of premium demand coming from agencies and brands such as video and native branding on premium supply, including placements like middle of article, homepages and section fronts. We are focused on executing on our plans and delivering on our commitments, and these results give us confidence to increase our 2021 guidance across all measures, including growing ex-TAC Gross Profit 22 to 23% for the year. With Connexity, we are positioning ourselves for an even stronger future by expanding our addressable market, scaling our offering to align with the direction of the open web, and hiring incredible talent. Amazon has millions of merchants, but merchants mainly have Amazon. That changes now.” For more commentary on the quarter, please refer to Taboola’s Q2 2021 Shareholder Letter, which was furnished to the SEC and also posted on Taboola’s website today at https://investors.taboola.com. Second Quarter 2021 Results Summary (unaudited) Three Months Ended June 30,(dollars in thousands)2021 2020 Revenues$329,072 $267,668 Gross Profit$100,245 $84,104 Net Income (loss)1$(61,416)$12,905 Ratio of Net income (loss) to Gross profit (61.3)% 15.30% Cash Flow from Operations$23,083 $36,834 Cash, cash equivalents and short-term deposits$585,243 $152,740 Non-GAAP Financial Data* ex-TAC Gross Profit$116,870 $98,885 Adjusted EBITDA$40,802 $34,865 Ratio of Adjusted EBITDA to ex-TAC Gross Profit 34.9% 35.3% Free Cash Flow$6,945 $33,177 1For the 2021 periods, a substantial majority...