Business
Taboola Q1 2024 Results Beat High End of Guidance; Reiterates 2024 Guidance and Expects Accelerating Growth Across All Key Metrics
Q1 2024 and FY 2024 Key HighlightsQ1 Financials - beat high end of guidance across all key metrics Q1 2024 Revenues $414M, Gross profit $109M, ex-TAC Gross
About this update from Taboola.com Ltd.
[{"type":"text","content":"Q1 2024 and FY 2024 Key HighlightsQ1 Financials - beat high end of guidance across all key metrics Q1 2024 Revenues $414M, Gross profit $109M, ex-TAC Gross Profit $139M, Net loss $26M, Non-GAAP Net Income $4M, Adj. EBITDA $23M, Free Cash Flow $27MAccelerating YoY growth: Revenues +26%, ex-TAC +20%, Adj. EBITDA +132%, FCF +140% 2024 Guidance - expecting strong Q2 and FY 2024 YoY growth across all metrics Q2 guidance: $425M in Revenues (+28% YoY), $115M Gross profit (+18% YoY), $145M ex-TAC Gross Profit (+18% YoY), $25M+ Adj. EBITDA (+60% YoY)*2024 accelerating growth: ~$2B in Revenues (+33% YoY), ~$545M Gross profit (+28% YoY), ~$670M ex-TAC Gross Profit (+24% YoY), $200M+ Adj. EBITDA (2x+ YoY), $100M+ FCF (~2x YoY)*Reiterating 2024 Adj. EBITDA $200M+ (30% margin) and $100M+ Free Cash Flow Share Buyback - Bought back $28M in shares in Q1; $92M remaining under current buyback authorization (~7% of current market cap); expecting buyback program to continue through 2024Engaging/reaching users - Yahoo crossed $100M+ in Q1; Apple News going global Yahoo - good progress; $100M+ revs on Yahoo supply in Q1, led by tier 1 advertiser demandApple News & Stocks partnership expands significantly to now include US and UK marketsTaboola News innovations focused on vertical videos and utilities (weather, games, etc.) Improving yield - number one goal in 2024 Focusing on improving retention rates and growing NDRMax Conversion/AI nearly 60% of revenue; drives double-digit NDR improvementFocus on premium/quality advertising experiences; Premium Brand & Agency demand now accounts for 20%+ of revenue and growing fast; launch of Taboola Select and onboarding of Yahoo Omni advertisers transformational to driving yieldDouble-digit eCommerce growth in Q1 underscoring strong momentum * at guidance midpoints NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Taboola (Nasdaq: TBLA), a market leading technology company powering recommendations for the open web, today announced its results for the quarter ended March 31, 2024. “We had a strong start to 2024 and Q1, where our business momentum and growth rates accelerated. With Q1 beating the high end of the guidance on every metric, and with Q2 guidance showing double-digit growth versus the same time last year, we are reiterating our 2024 guidance. 2024 projects continued acceleration in the business through the rem...