Business
Taboola Reports Strong Q2 2024, Beating Revenues, ex-TAC and Adj. EBITDA; Reiterating ex-TAC, Adj. EBITDA and Free Cash Flow Guidance in 2024
Growth Rates Accelerate in Q2 and FY 2024 Q2 2024 and FY 2024 Key HighlightsQ2 Financials - Beat on Revenues, ex-TAC and Adj. EBITDA; Growth rates accelerate
About this update from Taboola.com Ltd.
[{"type":"text","content":"Growth Rates Accelerate in Q2 and FY 2024\nQ2 2024 and FY 2024 Key HighlightsQ2 Financials - Beat on Revenues, ex-TAC and Adj. EBITDA; Growth rates accelerate Q2 2024 Results: Revenues $428M, Gross profit $115M, ex-TAC Gross Profit $150M, Net loss $4M, Non-GAAP Net Income $23M, Adj. EBITDA $37M, Free Cash Flow $26MStrong YoY growth: Revenues +29%, ex-TAC +21%, Adj. EBITDA +138%, FCF +237%Strong Free Cash Flow conversion: 70%+ from Adj. EBITDA Reiterating 2024 ex-TAC, Adj EBITDA, FCF Guidance; Growth rates accelerate across all metrics Initiating Q3 guidance: $431M in Revenues (+20% YoY), $134M Gross profit (+33% YoY), $164M ex-TAC Gross Profit (+28% YoY), $47M Adj. EBITDA (+106% YoY)*Reiterating 2024 guidance: $667M ex-TAC Gross Profit (+25% YoY), $200M+ Adj. EBITDA (2x+ YoY; ~30% margin), $100M+ FCF (~2x YoY)*Updating 2024 Revenue guidance: $1.735-$1.765B range primarily reflects some Yahoo revenue that will now only be reflected in ex-TAC - no change to ex-TAC/key metrics. Share Buyback - Bought back $27M in shares in Q2; $66M remaining under current authorizationEngaging/reaching users - Yahoo advertiser migration complete, ramping spend. Taboola News wins significant exclusive global OEM partnership Launched “Audience Solution” to help publishers grow trafficApple News & Stocks - onboarding complete, focus on sales enablementTaboola News - exclusive global OEM win in Q2 Improving yield - continued focus on our number one goal in 2024 Max Conversion adoption rate approaching 70% of revenue; # of ad campaigns 2x Q1 2024Launch of Taboola Select for brands/agencies looking to drive performance at scaleeCommerce continues to exceed expectations with strong performance in Q2 * References midpoints of guidance ranges. NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Taboola (Nasdaq: TBLA), a global leader in powering recommendations for the open web, today announced its results for the quarter ended June 30, 2024. \"2024 is a transformational year for Taboola. We've achieved impressive results in the first half of the year and are poised to build on this success,\" said Adam Singolda, CEO of Taboola. \"Our success is driven by our investment in AI, access to unique data, and focus on driving value to our partners and advertisers. I’m proud to be exactly where we are, validated by partnerships such as Yahoo and Apple as well as having 25...