Integral Ad Science Holding (IAS) 27 Feb 242023 Q4 Earnings call transcript

Good day, and thank you for standing by. Welcome to the IAS Fourth Quarter and Full Year 2023 Earnings Conference Call.[Operator instructions] please be advised that today's conference is being recorded. I would now like to turn the conference over to your speaker today, Jonathan Schaffer, Senior Vice President, Investor Relations. Please go ahead.

Thank you. to Results XXXX Conference welcome Full Quarter and Financial Year Call. afternoon, the Fourth IAS and Good I'm joined today Secor, CFO. by Lisa Utzschneider, CEO; and Tania

remarks from investor.integralads.com with that results the Before call posted and on refer note uncertainties please Relations SEC our details to contain site to about Investor prepared risks at you filings we actual We more forward-looking differ could company's that the expectations. cause our materially statements. for begin, and today's important

today's on GAAP measures A non-GAAP in to financial refer also noted are the our comparable will non-GAAP comparisons of directly today's on otherwise, period. to All based measures call. measures Relations available We reconciliation contained site. on Investor unless year earnings the most release is prior

the to begin. out now our I'd to over formalities turn call Lisa these Utzschneider. you like CEO, With of Lisa, the may way,

XXXX our welcome, and Full of We quarter strong and fourth everyone, Jonathan, XX% Thanks, million $XXX.X XX% fourth Throughout and grew $XXX.X margin. to call. superior year-end EBITDA quarter data EBITDA advanced most our and year, margin. delivered for industry's XX% adjusted Revenue increased customers. revenue results we to the ahead and performance XXXX adjusted commitment the expectations. XX% our a driving a million actual to year providing to

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group are agreements. measurement large for of seeing increased more renewals exclusive pricing multiyear competitive and and commitments exchange on in contract select volume a We

growth dynamic We for outlook have factored XXXX. into this our

performance-based presence mix diversify We our continue marketers. to customer with grow and our mid-tier

adoption side, enabling threefold new of major integrated compressions are quality Desk, activation Trade -- the and into of number Sync Since XXXX. beginning the On the increased through since including we we've quality the Sync DSPs, capabilities. product seen

We have enhanced for implemented strategy an also mid-tier go-to-market clients.

new segments. and vertical-specific have We with independent partnered launch and DSPs contextual agencies

In will Parker Amazon from drive specialists. sales and programmax accelerate new Senior Sales. Optimization January, several believe hired genitrib Bolan product also Global XXXX, as we IAS joined Vice greater In efficiencies. have President, development We AI

AI data a of TMQ, platform XXXX, greater and their powers in as leveraging already are towards with attention last to marketers our media year. AI the Day are launch Investor of identify MFA discussed advertising half Analyst and We real-time on first moving buys. higher-quality help transparency we the offerings, into our

for demand solutions. increase We also our will expect that cookie deprecation

and than is what technology the on media hop. the focused Our event on the rather war the of

ability marketers those As campaigns attention. can like lose target third-party gaps believe new introducing more the to and with using fill cookies, metrics measure context IAS we and

Our outlook full for year XXXX top solid revenue growth line profitability. and double-digit calls

availability of new launch We as expect such to quality Sin products, including as opportunities and from benefit and media. MFA emerging the product well of increased as attention and retail PMQ quality

margin. of year. new As a XX% and and performance, events, We're clients existing year growth ramp strong performance full positive a products, we off expect EBITDA Olympics new quarter the fourth a by these with second highlighted XX% wins, and logo the move we including adjusted the revenue share as XXXX result through U.S. half elections, and coming expanding to wallet

As to we our inform trust ecosystem. the opportunity brand We of insights marketers leveraging look campaigns. ensure to value the elevate to we an digital place across outcomes, across are media the the optimize IAS digital exciting data capture future, fast-growing By measure, to several and their that channels. our differentiated we investing protect, power an quality

brand which the We higher-quality the financials, their proposition. forward thank And take partners, of I'll over media driving updating at of heart with to the on to is our and to I'd shareholders progress. our and you that, our and then ROI ensuring commitment turn and we'll look the are for and all to like questions. to IAS customers, review higher your partners, value access publisher Tania and support employees for call

and quarter both Thanks, and that fourth exceeded expectations and year for welcome, pleased positive results Lisa, everyone. We're report to revenue profitability. full

year. our in full optimization double-digit Our the driven quarter gains both by and and in measurement was fourth businesses performance

long-term We growth. margin EBITDA million. in indebtedness ahead in while the XX% the for of to prior and to quarter fourth also $XXX.X of delivered a revenue adjusted million, our quarter increased $XXX investing XX% reducing million Total outlook $XXX fourth

which XX% the logo revenue was periods optimization increased increased attributable the CPG from includes million from integration $XXX.X partners. XXXX, XX% quarter revenue with to quarter. prior for well and season. advertisers, XX% in to context the as For total holiday total represented quarter. revenue the Optimization revenue benefited period. double-digit Measurement and Strength million. full of revenue in across control, million Total quality fourth and year wins in grew in measurement retail revenue adoption fourth our by XX% benefited driven in announced to revenue enhanced from to $XX.X growth Optimization $XX.X Amazon DSP client the increased the XX% previously our fourth as of Ads increased of new sync

the the quarter.Social year revenue revenue of the the in up modestly the with of the Open quarter social revenue balance in measurement product. XX% due XX% measurement revenue prior was from period. XX% quarter We total fourth the in revenue media majority Web, Meta-reels, to The measurement to TikTok including and social growth of of adoption rapid Social which of total represented TMQ in short-form media fourth video, fourth being growth YouTube realized XX% was our compared in media short. media represented

of revenue from APAC. Publisher XX% Publisher the and of $XX.X in fourth the revenue excluding non-CTV in on continued a social Video of represented adoption TMQ XX% in measurement the fourth X% XXXX. year-over-year. and result video wins media up side revenue grew quarter. the XX% EMEA fourth revenue, to reflects our recent of for in strong social of quarter in growth revenue, million modest quarter. publica As in International fourth both in strength Americas, the businesses. media, accounted revenue. quarter and increased of revenue increased our XX% total International XX% the Publisher product supply growth increased

represented and reflects performance quarter line was XX% infrastructure to margin increased operations. marketing, increased of revenue and development target XXXX fourth in year.Sales of Gross profit Gross year XX%, the revenue and XX%. our and streamlined expenses and through prior the the in hosting revenue outside administrative of X% of general to of international came XX% as result measurement While full quarter, and fourth from data margin total compared XX% Americas. costs for margin with investment efficiency full year increased year-over-year and in productivity the combined a total technology

XX% Adjusted the million quarter, items, comparison quarter at EBITDA quarter margin, a or net In period. stock-based year-over-year for restructuring Adjusted in year-over-year year-over-year $X.XX fourth impact fourth charge the compensation $X.XX $XX.X was addition, or million and excludes the million full XX% increased margin. diluted basic EBITDA of income basic of the the reflects for a in onetime share. increased at of the our compares $XX.X year ahead to XX% and share fourth XXXX. income $XXX.X Net $XX.X the quarter XX% for prior which the to per and to This of diluted of fourth XXXX. outlook XXXX per million the for

performance metrics. our to Turning

or from retention, us compared healthy at quarter maintain the of clients up includes total and to end sequentially and third the with end We clients. fourth of from at strong from due top-tier annual from of from quarter was and up in equivalents large and growth XXXX cash customers XX% at flexibility XXX the of revenue of increased of were XXX, in XXXX. to the third million. revenue XXXX. with Revenue to of large last existing end customers, to to both adoption of quarter period of invest cash up XX% XXXX XXX at $XXX quarter the end lower quarter over flow the the total advertising of fourth up of debt business.Cash and conversion financial strong from third advertising revenue advertising XXX% net quarter number fourth product mid- NRR, which us XX% balance unchanged the of our the the with sheet The Our was $XXX,XXX long-term provides the XX% a that enables the year

long-term In XXXX, $XXX reduced During $XX million. total our by $XX the indebtedness we of million to by debt reduced million. quarter, a we

the of was million debt net As at end XXXX a trailing $XX adjusted or X.Xx result, EBITDA. XX-month our

guidance. Turning to

For million, the XXXX, EBITDA the midpoint. million in expected quarter $XX first the a expect the to at March the rate Adjusted we or margin XX% total range ending a of $XXX at midpoint XX, in first quarter the $XXX year-over-year X% revenue for range. is of growth $XX to million range million of the

million full the the $XXX expect $XXX at margin of of in XXXX, XX% million, year Adjusted we range the million the a XX% or midpoint $XXX is the million for EBITDA in $XXX the year-over-year range. the of expected year For rate full revenue growth range at XXXX to to midpoint. total

As outlook renewals in pricing exchange more reflects multiyear Lisa commitments referenced select large and earlier, our for of measurement first increased on volume competitive group contract quarter and agreements. a exclusive

into factored our one account. previously of implementation negotiated also have We pricing QX optimization the by outlook,

to product the products, through expect our ongoing ramp meta-brands growth as as XXXX, and launches the driven move the offerings. rollout We safety by Sync first we social expansion new our in as attention the of year, product quarter robust levels revenue adoption from the media our of and including MFA of quality well

election. factored also including in the contribution the of upcoming Olympics the into from second half the our year, major and We have events Summer outlook the anticipated U.S.

year. in expect as managing this costs increase revenue move to are We we to quarterly ramp in the adjusted XXXX, match anticipated EBITDA margins and XXXX we through

higher to in in offerings, which include XX% gross for the investments premium expect reflects of XX% which profit full We year, our the costs. margin hosting range ongoing

average growth discipline expense in and the of double-digit the expense expect $XX We million. for XXXX market of expand rate million XXX growth To compensation launch quarter million revenue to year reach. shares [XX:XX:XX] We for relative continue we revenue million $XX full stock-based XXXX we of and expenses to to to expense a million. new our grow plan we $XX XXX XXX outstanding to in in range shares the our range weighted slightly is first shares operating in Full million compensation and year. expected as at the expected slower quarter million in products million invest full stock-based maintain year $XX as conclude, to for the range initiatives.First expect is in growth XXX the to XXXX

EBITDA to I adjusted now and Lisa margins to value to expanded Operator? of We portfolio take maintain an are sophisticated will healthy while customers solutions. your highly superior delivering with continue ready our questions.

the Instructions] from question James. [Operator Marok Raymond Our comes first line of Andrew with

Two disclosed integration if could. you I to contribution? for scaling changed has expansion, for you on Meta as through continue testing haven't that anything the revenue TMQ past. at and I together have you me, your quantitatively pace in One, outlook the your all process as work evolved, But and with know of

Andrew, happy that question. to take

TMQ for of launch So couple about we Brand were Meta. like Meta suitability Safety I'd things and earlier delighted this to A also month. share in to

We Meta and platform in be growth to today. Similar our last to of XXXX. drivers half social to XXXX, expect our year, approximately largest largest will continue meta Meta spend social customers in be our on one of

non-meta significant existing well for as to So TMQ Meta to the opportunity see clients clients. upsell cross-sell we as meta

of XXXX. part any revenue in not And the change question, Andrew, to no, expect second we've in seen meta-brands our any safety for change outlook or answer your

one if I maybe could. then And more,

talked the optimization. your is past, but you've revenue international, kind XX% for that measurements. from a about of pipeline of of I to there being measurement know XX% And mentioned coming in You

specifically than way So the a in different moving us some can at pace pieces to that you proceed of might international through domestic? as customers, walk

growth, half really XX% year to the of fueled to of acceleration second just in half international And XX% our by with half. primarily social. Sure. thrilled was international see in the second measurement, first particularly versus year rate the the yes, the That growth of we're confirm, particularly

from and of our in of was the quarter. the outside Americas was third for measurement XX% XX% up So revenue was that measurement,

optimization versus And outside spend program the social level accelerating of optimization Americas. the just of growth. terms outside measurement in really lower really trends those the So the then dynamics U.S., of reflect

line the of Mark with Our Kelley next question comes Stifel. from

guess, half way that? throughout growth expand that get you continue but think that moving you then I you bit beyond said the that be nice full year. reaccelerate about we seeing could was guidance, a guess, And guess then is big what's what hoping something the pressure can QX, I you pieces quarters or year the pricing little expect QX? just I a remarks. maybe I rate, pretty second, the to the beyond guess, know I and remaining the to what the pretty to year? are prepared headwind you're I in guess on right gave X decel is second I us to the a and the growth should the uptick that in full

first Sure. Mark, second. then take take your and I'll your will Tania question,

So but competitive select we competitive to so on that in up our it and were of pricing that think agreements. that secure in yes, cross-sell pricing in measurement contract and renewals we renew The as time. they more was we group the exclusive to in commitments strategy do multiyear those competitive for that to these we measurement script, our of can dynamics, is thought Also, and offerings, about ensure the mentioned has over dynamics been volume renewals geographies large way exchange volume. facing terms seeing, strategic that ramp a we're expand is, ensure accounts we to and offered drive thing upsell large -- we

our new Yes. quarter ramp, as Meta out And ramp as of guidance the with of the a well first of year, range. revenue we brand through product year offerings. at products for the at rest growth offerings; through due or being first the attention the on guidance into MFA midpoint basis robust the and ongoing launches ramp in Sync including XXXX, are new safety Andrew, social components, the whether full year the look expect terms our of move of in rollout our our year year to the XX% the of the expansion quarter the to factored and as a quality it adoption And these we of we all media of moving as

Yes. optimization, to tech product to CTV also key and that retail we that, in and those road just between innovating map our And investing drivers add X are social media.

and in launch another that half excited the just of thing are of we ramp We of other new the our wait back are the the And profitable solutions products industry. to can't to platforms that and year drive differentiated in see year. add, one adoption very forecasting growth to across the biggest

Our next question Fitzgerald Fargo. comes Brian of Wells with from the line

pricing Maybe business if really circle dislodge there defensive in they quickly the from competitors. It have far. just been as more also nature to like wondering on to more some may pricing a aggressively thus back question. been have using sounds you're lever may I'm --

So follow-up after And that's a question. have first that. the I then

Happy Yes. that, take to Fitz.

close as you we're to a a just agreed to as the call and up and under highly ball. it's And advertisers We for in So large know, renew -- competitive and can in And again shore jump contracts. exclusivity also imagine, multiyear volumes in reduce you dozen order yes, to always market. pricing a them. higher we made

competitive in in yes, the pricing, and happening price we're that ensure of just maintaining with par on were So we terms what's a industry.

the it cookies and with auctions? thinking the seems as forth for and IIV though Could the respect was about then some both for Sandbox me just to on-device looking second work back over preparations to there and tech done and And Okay. the third-party from Google, about you talk and perhaps your the risks how verification between to on-device labs opportunities after auctions. still is new for question be the you're there allow

answer to that.  Sure. Happy

expect believe they So also attention. metrics like gaps to demand the focuses more increase And cookies, new can strongly third-party and discussed IAS we context introducing lose those fill for the as the that technology on as never who. target we've the that using campaigns it as and our in with and ability the measure and solutions we marketers, our deprecation on will because cookie past, what where

Our next from with question line of Raimo comes the Lenschow Barclays.

should in as the of different that the you respect, like Lisa, drivers you et terms cetera. it on said, does about like cetera, as and of year, guidance, good you the because thinking How help that cetera, there's a quick of kind we selection, that puts winds in should in advertising like is your for think spending, few you how few factors  A one. quite the terms feel this go et I'm talked there's do through cycle year then the you but about et about tier -- what year? the help expectation do and takes a you Olympic,

Yes, Raimo, Happy one, to answer that too.

in social So I we hands largest of platforms TMQ, largest are the The we been optimization have few retail for CTV social were X major social down throughout other technology it. but getting more and smarter, optimization, X before, have Meta and sophisticated social, the key we XXXX in mentioned social it's drivers: media. running The drivers X as a TMQ announced launch we're to running ago, TMQ platform, weeks thrilled as XXXX.

safety also TMQ, been the adoption. to for clamoring the they've is And more team much of feed suitability, just telling brand and live advertisers, add that comfortable of meta. and within technology sales in Our driving story solutions

The Meta, of So half first year. last year back a social, the few we elections around the segment. to an GAM globe, elections, in half for mean other over U.S. we accelerated ramp, is but the been at in and of terms year and the in misinformation do ramp we're lot as steady of I the of a thing I the also note TMQ particular. that with so expect ramp far the in the looking think ramp weeks And U.S. pleased I want asking seen it's upcoming one of we've are we've a with a a segment feedback are on marketers hearing gigantic what one from the as embed who marketers TMQ election in the

help can advertisers one we're we're of year towards half and also about get find leaning brands into during another the season.The ahead are the and a higher-quality of capability ongoing, a outcomes. and seeing driving shift couple throughout investing insights to poised in to differentiator we talk It's it for the we're providing that's the in noticeable launch of big media first thing where to year. election performance where optimization and media visibility the of greater is a optimization. -- higher-quality the optimization, will other of transparency elections terms sync, total products So again, performance, be in where from in that adoption around heavily MFA U.S. programmatically, that the of key IAS, for quality they marketers areas And attention. in those drive run all

Okay. And of Or how quickly you follow-up. better? kind the do understand you is some -- seen mentioned like bit advertiser Like full cases? it help what's does that just Can really platforms. you? you just so show TMQ, that kind it run us test On And you other of rollout? -- a how up a little of the for rollout? one does to for that already the Does maybe have adoption and

Sure. Happy to answer that.

XX X markets, quality Raimo, So languages languages, then Tiktok year, or XX we unlocked was XX TMQ last beta we markets, languages X launched we in you first when languages, over over then to remember, moved X it to might and Total the X markets. Media

TikTok driving global of So scale. accelerated in scale, just now is a terms scale, that

it media XX in We quality across meta. February. early now is launched YouTube running in today, the we're TMQ languages. total offering

product very we of very total solutions The that with advertiser-based adoption with So robust great within but media of in Also, already sophisticated the platforms. of quality we're launching seeing a meta. just because we're we're weeks technology social comfortable built IAS' other in Meta the is news we've about pleased have the Meta. it's couple a using data,

over Meta. So Meta weeks, technology the port languages we X X currently to beta GA. Meta. world global, and was the we operate were full able with in around is with It's in embedded roughly the The product but

comes with Our next of Jason the question Helfstein from Oppenheimer. line

reasonably I -- that there switching the a guess these But asked the a you I switching I switch some got general cost, is a are competition guess, question, costs been One, questions. Two questions. or headwinds pricing takes of view the kind while I vendors. mean, think it there's and of about

concessions? why pricing for is volume. of question the you're ultimately, Is guess long-term offer short-term giving kind this, I So pricing concessions

companies as second months like competitive of so new like is that the And thoughts you just other XX Or Obviously, you on repurchases. And out nets capacity. being dynamics ahead? pricing? are out have kind share it then on just the more it look just question,

Just there. thoughts general

a their launching especially so much value Sure. negotiate dynamics the into that ROI, given to. all efficiencies, about volume marketers and we and these offerings, we're differentiation with value, for products. lot of for in multiyear yet that the to QX bang they exchange in differentiated of I in adoption competitive exclusive marketers Happy and for advertising greater XXXX spoke higher now Similar comfortable calls, renegotiations we've remember the products with XXXX, to job investments. they seen drive greater to And back the see saw brands. talked that wanted generate drive in commitments, marketers, we of new to what the buck looking is were that that, previous digital some renewals these in to our our with we our speak that with to we drive agreements, with half the product more it's high pricing pricing leaning And more

and longevity The intention them stat tenure years, Jason, and base business this on with know an heard we them. of have accounts customer other the help is you've we top I sticky that average, customer XXX the trust of X their our have loyal our have, base our every before, grow incredibly customer for maintaining too, we thing,

we second have question, Jason, agreed. your on

primary strong very to flow in in sheet, invest a expand XXXX. balance to cash to is to continue the focus And There's our have the opportunity an healthy business. of continue incredible the We growth business.

BMO Our next of line Markets. Pitz Capital from comes Brian the question with

It's O'Shea. Yes. Tim

be social about the the video, at growth Lisa largest that's QX platform XX% the in suggesting So growth statements XXXX also XXXX. I reconcile talking just think meta mentioned midpoint. struggling the social for talked some for X% explosive will of of to guidance about with growth types of including these the media, short-form and how I'm

of should out? frankly, we're some approaching are about? like? like? products when that the is, into how walk high-volume growth some Is social quantify these impact how possible And new contracts the What's new the guidance? lower-priced you're look through the look question these to of What rolling is then contracts? those it secondly, realize factored to IAS adoption So advertisers of feedback does the talking new can we this much us expect -- you is of And explosive what's

adoption the feed because social that think into take I'll contract products the would the Sure. advertiser I question, Tim. new of

the as I X and safety TMQ currently before, mentioned product social the of are So in all suitability platforms. of running brand we

TMQ I'd third terms the Meta, X. inning, TikTok of In of launched prebid innings, YouTube inning, inning, we're at exclusive and February X, fifth we leveraging provider put fourth

So have solutions with in as Meta, the terms using adoption. customers I we base and of with we Meta. Granted, mentioned a before, in weeks advertiser ramp our launched ago is verification meta, X already there of

of go advertisers get So Tiktok, to could had a on example. an I is Tiktok give utilizing And there the adoption our TMQ is than board to we ramp. Tiktok. products. easier and But

one if our Coke and XXX of XXX one brands, in Coke. markets like So example, traditional as an both of global you digital a brands of hypothetical, marketers. media. running the roughly think -- global major That's has take

because there that markets for TMQ, of some on in about So adopting involved sure think steps ensuring equity shortened that the cycle, are Coke priority, making like all of their happens a all a across that considers safety, prioritized their if but as turning mentioned suitability, and really product all digital the TMQ takes required feed, the product. is to in the in of priority adopt a it's that but of before, terms live those in launch as in order experience have product drive TMQ we of products. the there we've in a YouTube, And to running and adoption time launched it already I TikTok a of brand brand globally campaigns you reputation what of protection we've markets their strategic it adoption lot

measurement implemented QX, to retain expand terms the there's were as in about talked Lisa guide. to X the of had they then one And by one QX. run up did we time is impacting where rates really offering that it that these and with ourselves to your into renewals preferred over we've the these able clients QX, the -- And on factored question on negotiated factors and with front. measurement with optimization in have relationships of to of previously that that optimization optimization working and both side, preferred be rates these One our rates and large par DSPs industry in became then successful main we that set relates those on DSP the client effective

it's those things impacting QX guidance. are our really So that X

line Our Craig-Hallum. Kreyer Jason next question with the from comes of

Yes.

with more into Just the if other of customers risk that across up trickling on down more And just we pricing was pricing, a now, called similar any bit customers pricing optimization just renewing attractive that at one large you're end there, need far to maybe the or think too? unique smaller as you does seeing trickle-down and about as like pressures I'm rates, out Tania, pressure of little there inside is measurement, this curious that but then any customer? you're to

really we're related really situation pricing previously your on clients. optimization question with your on unique to Jason, And front, this measurement. arrangement. one large -- based a this first second winning on So the negotiated a on then was question, client Look,

business. And than was upsell confident XXXX growth proven this guidance. and strategy forward I mentioned, cross-selling a all as we're in the record the dozen We really to factored confident strategy track less drive we're that's to this renewals, and expanding moving the into a -- expanding long-term have been of of And in with and NRR. our

KeyBanc. from comes question the next Our line of Justin with Patterson

on in key What investments the remarks, should XXXX. when of investments? In from during making are you're expecting the over AI spoke the to prepared returns Jacob the And to year? is the making you Justin. for be we This you're investments course see

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Our next with question Youssef of Securities. Truist comes line from Squali the

Robert Zeller is for This Youssef. on

for why also lines there existing are then you dynamic mentioned On that contracts ask the is you renewals? treatment these and can guys wouldn't of pricing any exclusivity. seeing when and remaining was exchange up And deals remind up? contracts reason and customers when for the in measurement, it quickly, the us customers on for contracts their are just your for And

just work that under of assumption think the I advertisers kind most with partner. you one were

what like which aren't. versus curious customers of I'm are percentage exclusive So

large customers -- of average, not I'll the This that take right. expansion And clients contracts have then over we our All a X the versus this measurement time. all multiple on in is to X clients of side in your offered terms years. I to order mean, of group exclusive On measurement of select that. working in partners. range with are drive was last almost these our question, arrangements

of Mark comes the line Company. with Zgutowicz  Our Benchmark from the next question

social. on questions of couple a Just

you pressures XQ, Could it trailing flat about growth in if some year? the new much social on XQ? then And safe percentage that on growth. comment quarter? sequential that revenue imply then roughly XQ pricing and growth. just be pricing to be provide on international impacted would and around assume higher-than-normal is XQ the fourth You you of is to advertiser in if X also then can modest given And through does witnessed, And was mentioned exiting And expected is assume year-over-year? that your social quick to I accelerating perhaps of so, through What weaker housekeeping, domestic that volume how was offset revenue that you may. large commentary talk by impression I clarity flow in count needed or what pressure product sell-through customer total measurement

right. All Okay.

go one a time. Let's through at

exiting the and growth you So social in U.S. first, robust clarify measurement -- your question? in around in no, the overall, the first your social revenue to of but in social, quarter the see growth Americas. outside quarter. in quarter Americas Could to see second the we of accelerated outside social see fourth then we And were continue was on fourth to the the second XX%. social terms question of continue excited growth in We of

sure. Yes,

your imply that Just I then revenue flat roughly said expect exiting year, it's was social or see think -- roughly does flat XQ be given and guidance that and you expected subsequently your the XQ to you to social accelerating revenue for year-over-year? which XQ,

 So short-form quarter social launch safety video. as ramp about slower anticipating well the are social and and in with expecting in we the the to talked suitability Meta particularly we sustainable throughout continued growth the growth year, brand of for first in reasons as earlier

large in Okay. total XQ and volume growth? And your impression count advertiser in then on

Sure.

the was fourth were fourth price then about you -- in volume asking quarter year. the So our from advertisers, large prior and of up advertiser XXX in XX% large which was count total quarter? in And terms the the

impression Yes, advertiser volume. direct and

front, Yes, yes. measurement on the

of the So across on year, quarter in our particular, we as consistent year. we the the volume you growth measurement had XX% fourth basis, the in full on for year CPMs prior -- average full for a Measurement were our had front, the robust see year but don't with can were disclose XX-K, and

you quarter. the that our volumes back in CPM strong measurement the then in in very you digits. the quarter, And our mid-XX% mid-single moderate the be front, the the fourth fourth a average when with to into continue can So did decline in quarter fourth on estimate

of Our America. next with Omar of Bank question comes from Dessouky line the

So would get one, clarification ramp I you call far. on. just a I've to on revenue some the Number so said wanted the on that things couple of heard year as went

quarter, growth So you quarter-on-quarter? modeling should be fourth the we sequential are through implying that

of we second Sure, we weighted as year think full revenue of we be way the you mean, ramp the I and to year, the of Omar. second through X year guide percentage half The the year year. to for as ramp quarter. in should full to about more contribution contribution about But obviously the the and year, the how half contribution through think a expect as the you the the

Okay.

some then in in you pricing change in similar a assuming top would -- that talked or sounds bit There's the correctly? contract like clients. this me second you're about a be XX the you did other I to understand -- that -- little the that Is to So top It clarification your going pricing with change clients there's XX that have guidance. your not there. be

for comments, And saying the was prior reflected prior the have we the clarify percent to I I contribution as just measurement full year, yes, Omar, also when talked guidance year, of So full compared upcoming about my assessment of renewals. second years. in half to a our our

contribution second in years. higher percent year slightly a a revenue of full expect prior compared that as So ratio half to

you that bit is from little upside on final clients guide? And then also for strategy in potential these part in to given upselling lock question the my is, are a this a your longer, your considering

es.

agreements. and do to as of commitments these the the we through multiyear these see relates it to move we benefits are exclusive particularly renewals, volume As expect year,

back like the hand I CEO, would Utzschneider, for Lisa now to remarks. closing over to conference

We're pleased call. quarter today's the for joining for fourth XXXX and results full strong everyone, Thanks, to have year. reported

including from to rollout AI-backed expect of As benefit we growth we XXXX, new growth drivers, several accelerate we through move the as products.

growth excited sharing story our in strategy look we our are execute to to XXXX, forward and We investor on upcoming events. at

This participation. for concludes Thank call. today's your conference you

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