Slide 1: Fourth Quarter 2023 Earnings Call
Fourth Quarter 2023 Earnings Call Jon Carpenter Mary Margaret Curry Chief Executive Officer Chief Financial Officer
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of federal and state securities laws, including, without limitation, our expectations, forecasts, plans and opinions regarding our strategic plans; market opportunities; eco
Slide 3: 2023 Performance
2023 Performance Revenue Adj. EBITDA Double digit Local Cost discipline $371.3M Down 1.3% VPY TV growth Proximic & CCR growth continues $44.0M Up 17.5% VPY Streamlining tech and product Margin rate Custom & National acceleration Linear revenue down Focusing on Profitable, Sustainable Growth
Slide 4: 2023 Progress
2023 Progress Improving Adjusted Local Cross-Platform EBITDA TV Growth Adoption 17.5% Double-Digit +34% 2023 Revenue Growth in Growth Proximic & CCR Adj. EBITDA YOY Growth • Best-in-class ID-free activation segments • 48-Hour Pulse data • Disciplined cost control • Cross-platform campaign measuremen
Slide 5: Fourth Quarter 2023 Financials
Fourth Quarter 2023 Financials
Slide 6: 2023 Full Year Revenue
2023 Full Year Revenue -1.3% year-over-year Cross Platform Solutions down 0.9% year over year: Double-digit growth in Local TV Decline in National TV Movies growth of 4% $376.4M $371.3M Digital Ad Solutions down 1.7% year over year: Lower custom & syndicated digital revenue Meaningful growth in Prox
Slide 7: 2023 Full Year Adjusted EBITDA
2023 Full Year Adjusted EBITDA Adjusted EBITDA Excluding FX, adjusted EBITDA up 29% over +17.5% prior year year-over-year Disciplined cost execution - core operating expenses* down 4.9% year over year $44.0M $37.5M Continued execution of our restructuring plan including footprint reduction Accelerat
Slide 8: 2023 Fourth Quarter Results
2023 Fourth Quarter Results Total Revenue Adjusted EBITDA - 3.2% +36.8% year-over-year year-over-year $16.4M $98.2M $95.1M $12.0M Q4 2022 Q4 2023 FX Q4 2022 Q4 2023 $16.6M Adjusted $18.7M EBITDA
Slide 9: The Path to Growth
‘iy comscore 2024 The Path to Growth Home Select Segments CTV Series (19) DC League of Super-Pets (Warner Brothers) The Hidden Lives of Pets (Netflix The Secret Life of Pets 2 (Universal Pictures) ® Connected TV Viewership ‘Audiences Inventory Quality Selected (3) on Hidden Lives of Pets Instant Est
Slide 10: As complexity increases, so do costs and waste in advertising
As complexity increases, so do costs and waste in advertising
Slide 11: Connecting audiences across all screens and markets
Connecting audiences across all screens and markets – powered by our currency- grade measurement on Local & National Linear TV, Digital, Streaming, & Social
Slide 12: 2024 Focus
2024 Focus Cross-Platform Adoption +69% +80% Jan 2024 vs Jan 2023 Jan 2024 Impressions • Accelerating growth of impressions serviced across Proximic and CCR Predictive Audience vs Jan 2023 • Key partner announcements include The Trade Desk & Eyeota Impressions Digital Resilience • Signal loss & cook
Slide 13: Built Differently
Built Differently Granular, local, detailed views of audiences built up from the household level on a foundation of big data, AI, and patent protected data science Detail Matters Only Comscore starts audience measurement at the local level, delivering insights with the speed and accuracy needed to o
Slide 14: Local Expansion
Local Expansion “Comscore’s ability to provide us with total audience measurement metrics across our local television stations and websites, NewsNation, Michael Biard The CW Network, and The Hill, enables our cross-platform sales team PRESIDENT AND CHIEF OPERATING OFFICER to leverage our unique scal
Slide 15: Comscore is built for the future of programmatic, cross-platform media
Comscore is built for the future of programmatic, cross-platform media 181M Desktop 246M Phones/ 158M Connected 75M+ TV Screens Tablets TV Screens Screens 9 out of 10 Over half of all +70% of all 1 in 3 U.S. Desktop Screens mobile devices Connected TV Households Big Data Scale Speed & Accuracy Integ
Slide 16: Positioned to influence $400B in ad spend
Positioned to influence $400B in ad spend as the transition to programmatic continues
Slide 17: Advertise Nationally & Optimize Locally
Advertise Nationally & Optimize Locally Both Only Television CTV Only exposed (Incremental exposed to Reach) to CTV in Linear in market market Go from reporting … to reporting +28% Incremental lift in +56% Incremental lift in Optimize in-flight campaigns to enhance reaching Female Voters reaching Fe
Slide 18: A true cross-platform video measurement solution
A true cross-platform video measurement solution providing actionable in-flight reporting On Integrating CCR Local Market Reporting: “Comscore's new offering has the insights to help our clients make the most out of their media investment.” Ben Sylvan 80% Growth in Impressions Measured – Jan 2024 vs
Slide 19: 2024 Objectives
2024 Objectives Cross-Platform Product Adoption 35%+ 2024 Revenue Growth Steady State Digital Resilience Syndicated Digital Improvement in net Flat Rev vs 2023 dollar retention rate Local Growth & Expansion Continued Growth Focusing on Profitable, Sustainable Growth
Slide 20: Guidance
My comscore Guidance
Slide 21: Full Year 2024 Guidance: Revenue
Full Year 2024 Guidance: Revenue Revenue Key Drivers Continued growth in Local TV Improving churn in Syndicated $375M - Digital $371.3M $390M Significant cross-platform opportunity for Proximic and CCR 2023 2024
Slide 22: Full Year 2024 Guidance: Adjusted EBITDA
Full Year 2024 Guidance: Adjusted EBITDA Core Operating Expenses Adjusted EBITDA Margin Key Drivers Completion of restructuring plan Disciplined product innovation 11.9% 12-15% $354M +$5-8M Investment to drive revenue growth 2023 2024 2023 2024
Slide 23: Thank you
Fourth Quarter 2023 Earnings Call Thank you
Slide 24: Use Of Non-GAAP Financial Measures
Use Of Non-GAAP Financial Measures To provide investors with additional information regarding our financial results, we are disclosing adjusted EBITDA, adjusted EBITDA margin and FX adjusted EBITDA, which are non-GAAP financial measures used by our management to understand and evaluate our core oper
Slide 25: 2023 Adjusted EBITDA Reconciliation
2023 Adjusted EBITDA Reconciliation
Slide 26: Fourth Quarter Adjusted EBITDA Reconciliation
Fourth Quarter Adjusted EBITDA Reconciliation