Integral Ad Science Holding (IAS) 9 May 242024 Q1 Earnings call transcript

Good day, and thank you for standing by. Welcome to the IAS Q1 2024 Earnings Conference Call. [Operator instructions] After the speaker's presentation, there will be a question-and-answer session. [Operator instructions]. I would now like to hand the conference over to your speaker today, Jonathan Schafer, Senior Vice President, Investor Relations.

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

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

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

expectations. for $XXX.X Adjusted outlook adjusted Thank million million. quarter EBITDA exceeded everyone, Revenue adjusted you, Jonathan. to a EBITDA million of Welcome, was prior XX% and grew our XXXX call. our margin. at the $XXX prior first ahead quarter of Revenue first X% EBITDA $XXX to $XX.X our million, to

through industry-leading increased benefited quarter, first demand for media. advertiser our As we moved products, we social the in particularly from

Our we measurement the anticipated. first quarter previously that performance within and optimization includes discussed factors

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X markets and new portfolios. We result Since as of expand upsell of new well volume we've land brand several based organic as automotive industry in including increase cross-sell products, a customers renewal spend average wins of large new and channels growth, annual global expansions our to XXXX, as contracts have secured customer recent in wallet telecommunications, have increased on verticals, XX% data. within expansion and share financial CPG, our a across seen to year with existing services. We're into advertiser pleased customer

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also measurement and global U.S. suitability the availability advertiser XX April. Meta first of quarter industry-first that With We're of languages. Meta, XX safety include Snap Feed offerings. measurement in and our new and XX countries. TMQ of meet total of to of rapid has measurement adoption with to media represented across and quality to expanded brand vertical TMP for XX our validating brand quarter on X further of our misinformation We we've of revenue platforms, added countries ahead With industry-leading since announce Facebook major volume impressions supported superiority brand GARM-Aligned also delighted exclusion total for safety GARM XX safety we growing including a measurement coverage our social suitability Instagram languages in to our the AI-driven YouTube partnerships total X. expanded XX% of adoption total elections. segments social demand in XX% February suite. April, due measurement categories media launched established and first on with and strong product product expanded over of IAS and we've upcoming In more media XX suitability Meta the XX% suitability safety our to revenue grew than across sensitivity and reels leading integrations Social total increased include social brand Meta, in the and the media category IAS we've to is TikTok. TikTok, achieved the measurement on and

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trust and transparency with based campaigns. built foundation on March, our first-to-market Our data. the provide IAS In By Snap for accuracy a of on on the measurement AI-driven advertisers. relationship is and suitability safety integrating partnership TMQ with brand suite, advertisers to their IAS announcement our product X XXXX announced to measurement. back development year. on Snap increase later and viewability IBT our currently and expands This live transparency go will Snaptrack expect dates in launched partnership We're which which have in Snap, across to access to this with

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active and Our quality live early customers January in significant attention experienced since went has in launch. solution growth

quality is tracking study human of Our partnership enabling higher social and better versus of a with in Global machine unifies Solutions Index, the to since partnership elections, combination and attention with technology them with drove major of GARM or standards. a that Disinformation NC results open for we TMQ misinformation XXX% the on with avoid in with recent and XXXX differentiated and learning using enhanced identify behalf sales with this eye significantly detection. offering year's to incremental by in deliver IAS proven our client, the scores. platforms. impressions attention drives aligned scores impressions advertisers. GDI of and web has IAS an We've CPG protect on retention to performance in brands increase media U.S. include been AI-backed misinformation helping misinformation combating Higher sales approach found Ahead lower leading

revenue During growth the mid-tier our clients. quarter, realized with double-digit we

DSPs, mid-tier in with pharmaceutical partnerships We important have established new X the including sector.

X or We as their agencies preferred partners. mid-tier also signed exclusive

high-growth in media opportunities, invest CTV, and gaming. to continue including retail we Lastly,

During and and the the Sports Both unified increase solution IAS in to best publisher partners fields quarter, [oxen's] IAS' Publica used experience Publica Turner viewing ad by users. guarantee CNN with by for partnered EMEA.

forward as Miile With of We viewability OpenX, look impressions, received sophisticated impressions accreditation invalid XX and landscape. as Chief at applied In IS joining and welcoming Officer deep and video be the CTV possesses announce publisher Cam Cam filtration April, to the metrics. and for environments to over to at Cam traffic leadership of CTV We viewable that team. sales related will IAS to are knowledge in delighted Publica. Revenue years roles FreeWheel

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discussed, positive contract be As expect to we XXXX. renewals the net in revenue measurement previously

Tania reinforce to products that, factors other full confidence new and And in take outlook. I'll the contributing recent our to with and review our call addition, turn the In questions. along increased customer your with financials, over wins, we'll then year

and the increasing welcome, to the through We and first we second move pleased as everyone. Lisa, quarter. Thanks, were see business into momentum quarter

of from year drivers will benefit the to the in multiple expect We second discuss. growth that half I

one previously well X% the period. on quarter to As of performance the negotiated Optimization in X% increased reflects our first quarter. as ahead of a auto total the X% was client as XX% by outlook. the particularly call period. are social year T&E. Total main Total for revenue we grew the represented measurement Increasing prior implementation $XXX million from includes outlook spend million raising $XX.X our the in and demand, full last in revenue the which in our quarter pricing first advertisers, driver and first in to as revenue to by of growth million. revenue increased revenue in $XXX media discussed million, first softer revenue marketers better-than-expected the quarter optimization optimization $XXX.X of Optimization result, and of our

on benefited last World year's carryover well XXXX Additionally, from campaigns from seasonal a performance from campaign comparable first strong as as the quarter basis, Cup.

our in Measurement rate social and quarter. media offering. on first reflects revenue new our the products, as the quarter than optimization Measurement strong first growth including well contribution in demand recent quarter $XX.X double growth more in demand from the improving based TMQ price million as increased for levels to premium XX% expect anticipated quarter trends logo from We second wins. to first the the

platforms, Meta overall more across as revenue media the strength launch Advertisers our expect of XX% and TikTok. as Meta TMQ grew of balance the growth with and than following of than following Social XX% in TMQ launch volumes increased quarter, the the volumes first well YouTube social similar revenue February, year. of for we early represent Meta media rate more the in Meta a today. of including on XX%

quarter of quarter first XX% XX% in the represented the in revenue total XXXX. revenue media compared Social of fourth to

media Social as social. represented shift demand spend revenue saw being revenue which open XX% marketers of with the to balance measurement lower total web,

in in of a included grew of XX% first quarter performance quarter. renewals. previously the in in from the in of social the the the discussed expected XX% partners, businesses. reflects public supply revenue, increased Publisher of first contract media, As performance the represented the strong our revenue XX% to quarter. first non-CTV large Measurement first video continued of XXXX. up first adoption Video our OEM result by the for measurement side accounted growth quarter also revenue by quarter offset solutions million Publisher XX% revenue. of total XX% $XX.X Publisher revenue of partially impact

including in APAC. Revenue increased XX% performance region. Americas, year-over-year Americas in the in benefited media TMQ International growth spend, Looking increased revenue and from EMEA at both our the by and excluding X%. revenue, social

increased investment revenue, expense. of year-over-year, XX%, performance measurement hosting Gross impact total profit increased first for higher and quarter our expenses reflects with Gross line in of and data of Americas. year. prior marketing, infrastructure compensation combined target margin XX%. XX% of which margin XX% XX% from administrative XX% represented general revenue the came margin costs international full in the and year was outside to includes to revenue development the and stock-based technology Sales of and compared the While

focus in data invest with in growth IAS particular sales. to areas continue engineering, the of We science of long-term and the

prior per internally for $XX line product $XX first long-term expectation EBITDA excludes stock-based was quarter, outlook quarter higher-than-expected million by onetime million to primarily prior in $XX.X a was which We million, at loss first continue our million and the was and compensation million. development of the the million, to our developed period of driven $X.XX to capitalize related to Adjusted in Net software Stock-based $X.X margin, revenue. $XX ahead items, new our compensation or with $XX.X $XX technology. XX% million expense for the of share. investments for

performance metrics. our to Turning

the large financial up NRR, from last $XXX,XXX first XX% or profitable quarter and reflects to cash of We quarter with us and $XXX,XXX clients net advertising trend at The long-term balance first of over nature increased end compared the revenue the The sheet the quarter the and to business cash with us lower revenue for customers, provides the includes Our advertising up equivalents $XXX,XXX to period, our which customers advertising of in of fourth from period. the growth the of sequentially end mid-tier and business. $XX.X top-tier end results invest the which our overall to retention, XXXX. was debt in of of at the both million. XX% growth was strong healthy cash first model of a of at from Revenue the of in of enables number XXX%, with revenue rate total up free flexibility flow, our year which annual XX% large quarter XXX total XXXX. maintain

$XXX quarter, our by long-term the to reduced $XX debt million million. we During

first net result, the end million. of at debt was the quarter our a $XX As

guidance. to Turning

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

million range million XXXX, we at to $XXX XX% $XXX year revenue to full the growth the our midpoint For $XXX or to million. are outlook million versus of $XXX increasing the year-over-year prior

the modeling of to prior points. million. or $XXX million million $XXX A EBITDA adjusted We few versus full range $XXX year margin are million a XX% range to additional at raising the $XXX midpoint our to

profit XX% remains gross year, range margin unchanged to for the costs in reflects which XX% higher of hosting full offerings. Our video related the our outlook to

$XX than stock-based to $XX million. $XX million. expected quarter range to XXXX million Full compensation $XX range compensation is $XX expense of of million, expectation Second the expected to expense million stock-based is lower in the prior $XX of million our year in

million the million of XXX weighted outstanding quarter to second to the million in for expect average shares shares and the shares XXX XXX We XXX for year. full million range

are revenue our customer first the for pleased double adoption rate to second the to in Publisher a second expected Publica, expected year-over-year second measurement, driven quarter with performance. more quarter outlook than in from in optimization quarter. quarter first consistent Publica's growth continued quarter the with is double-digit growth include social growth of positive introduce strong strong We media offerings. is the in to The by

move including TMQ of our launched quality sync products, pipeline, platforms, MFA from half we scaling social our contribution attention measurement expansion, across renewals. the new growth volumes by As into wins ongoing of year, accelerated from we and recent the the product the higher back the rollout robust and logo the recently expect driven

growth expect we growth addition, as I and of expanded take we profitable now debt. through your while margins move In adjusted ready and questions. investing with EBITDA the reducing year to the are Lisa Operator? the business in

Please moment Thank yourself limit you. one questions. instructions]. question one to one follow-up, [Operator and for

Our Farrell first Matt question with from Sandler. Piper comes

really conversations bit since strong the contracts guide. QX things. the you just love results pricing hear about and getting with on way call, pricing to Would on just more the the the the advertisers of this Maybe signed question commentary? side and last new strong renewals following contract around the Congrats a out were the or of

Matt. Happy Sure. take that, to

dynamics. a So about pricing the things few

and guidance saw were our And we that growth The first average quarter part was we in as had forecast. of terms eCPMs we guide. also also, is of measurement baked volume our expected and measurement in renewals, the anticipated, as our into

the saw to we XXX% close renewal QX. we QX, that, In our all in rate of able in addition were to renewals renewals with

good growth love the point maybe revenue those how of on And just in at A how much think this visibility to there. ramp. into growth just We drivers half you have second about lot different drivers you. Got time.

Sure.

TMQ adoption growth in year, that the TMQ, the of include the business. anticipate platforms, our tailwinds driving the we're rapid of drivers results, social, when half into year. we there of are several across adoption are half you The second of back TMQ ongoing So our QX seeing take tailwinds the the in strong terms in particular, look of social at of all and a

of just expect product the to addition we had quality have that, on mentioned a And half new in and MFA, these the that we call. in new already robust we year. of In the the nice launched expansion sync, back adoption. back road map We're adoption for the DSPs then misinformation. continued of also, We've especially team half including products, to seeing attention, drive focus year continuing will the the

adoption is the engagement The to Publica strategic other first quarter the and see OEMs, tailwind for Publica. with in growth Samsung, to Publica. anticipate growth we as double-digit and We team continues ongoing drive love the in including INVISIO,

questions. Thank One you. moment for

Our next question Oppenheimer. with from comes Jason Helfstein

kind on the I given doing thank out the and sure of making factors. behalf kind for neck investors that of overly just So guess you some you mature quarter your of sticking of thing of weren't last kind

that further current of of kind that So out with already probably from Netflix just I And the think but everybody guide, adoption the minimums? assumed basically see the Any given Netflix kind coming or broadly, kind know kind and Amazon of much we impact a of on video? and of April up there, have of kind this you it this questions. a Meta continuation first, from more company through the of adoption appreciates we're just seen is upfront. big with of adoption secondly, after in spend kind that. increase kind then that guess, of of adoption some how of exposure that further the does pretty you've of of -- Two going contracted maybe I is level to

Jason, to take Okay, happy both questions.

for tailwind So launch pleased with We on social the continues Meta. year-over-year And date also as increase were are TMQ. to that to seen XX% to in first we've an Meta in ongoing be mentioned for in on and of TMQ social the I second the the early XX% important quarter. growth February thrilled before, business before, that adoption the quarter, mentioned adoption we volume we're growth the we driving -- into as saw seeing our

tech a out adoption The question perspective, retail then I vertical telco in other TMQ seeing seeing as growth nice terms And from of mentioned into where of the we're in verticals. the space the lean nice CTV thing call we Amazon, I'll before, our in back growth platforms, year. both terms offerings regarding is Netflix seeing Netflix we're measurement adoption in CPG, of your also and really in anticipate our and and half with other customers on we're CTV, ongoing in and Publica

moment for questions. One

from comes KeyBanc. question next Our Justin with Patterson

Great. Justin. Jacob This is on for

with. have business? are solid being X fact is advertisers? a do believe viewed so you value had And associate You've others relationship struggled with capabilities the winning channel you're by How your

Yes.

So X of with innovate to the continue X X. been partnership, behalf for and our partnered that into on we we've are on lean running X brands over X years, and

launched we for X and digital ecosystem. and the recall might with brand brands for committed safety You suitability to of remains safety importance X our and suitability and prebid partnership broader the exclusive brand an

One moment questions. for

Our Fargo. Brian with next question from Wells Fitzgerald comes

in and for programmatic now. It Tania, to you've call right if talking on about spend? ahead to like preparing but a us comparison ask to of CTV. segment in expand shift the well and over of to of about ability your social Fitz. and talk relation And could growth year? solution video seeing This is your for for rest IAS maybe opportunity that the to in the curve activation you could related Lisa, bit sort value that, your what social programmatic if you're capture Rob seems Lisa, media underlying in set the wanted for as shift second, talk and terms you can maybe expand in outlook is about accelerating, CTV of really from been And on the time mix to the for you

Sure.

social, TMQ in that technology multimedia the a We we frame. growth of XX% image, we're early very platforms with quarter, with particularly as that I for products in because particular, total for a major verticals, before, classifying launched command media Meta measurement our seeing the we're CPG solutions our terms I are several in quality multiple as year-over-year running telco. across the premium tech and first before, in from of our launch currently that It and mentioned February. video our is retail a technology pleased price granular level driver sophistication by business. particular, in into mentioned of social audio of and including lean And frame of text our we're a way, in TMQ product, in and So

a with also of CTV, broadcasters is partnerships VISIO as CTV IAS. It's business. Publica, platform A of brands our fact for leading big of differentiator And a together and the the huge marketplace for In that other strategic that publishers. that we mentioned have Samsung, is for I and our a where differentiated tailwind reason terms because OEMs. place, we bringing and have in before,

year is into than this year, rate. head comps. and in -- bit rate, And more we the March question seeing And improvement some second quarter as little in seasonal from we seasonable second of quarter. we worth it's first the in see auto a there the doubling growth also optimization But was of verticals. optimization Rob, QX QX spending of head in headwind on in of as the which starting terms we're second QX second demand the front, to particularly that in quarter, optimization the on campaign into for were -- around in we're It's optimization, our experienced last our growth and but so T&E a softer noting outlook rebound also quarter optimization your

One comes moment question Lenschow from Raimo questions. next Barclays. for with

Two big questions. general. from the the competitors, week's of of your -- this mark a question some there's health Lisa, advertisers around like earnings after in

the side? geared of like in what's into there kind is advertiser follow-up. one you the seeing are of evolving going And spending how industry. then very on I terms were on You in What there had

Yes. happy Sure. take Raimo, question. your to

leaning the environment as transparency, why the So growth. and you looking they're I They're of what brand. for And reason solutions a and advertising we're is lot our seeing a solutions positive performance, spent know, our differentiated into time and is with efficiency leaning they're marketers. into

And in social tailwinds CTV, our some and the the of demonstrate continue to the so the innovative strength excited the we're year. of map those and robust stats that just seeing product in and call already we've products back the industry, road shared launch we're half of in

one election, et here, you Perfect. should you? of football, about And like think influence think a Championship have positive be that about then do for European follow-up. events in If that Like how from like I kind drivers should cetera?

to Happy take that too. one,

few points So a on that.

social It Misinformation platforms. GARM on request TikTok. framework. is to remember, and And over This launch this brand. across recently U.S. launched. misinformation We segment was Raimo, #X a of in people we've are you are lot especially billion X marketers. voting probably there top we globally demand Meta year. -- the who So a the new of And the launched that the elections is of part the got for the from mind it category

suitable that can road marketers rest of adjacent into product when pulled we assured We've digital and brands our to map. So content. product so HX safe are their up launched advertising, that elections they brand the to that especially the run running leading

our both to The leaning Olympics, and with that in ensuring other our investing brands are event that engaged events happening another our again, that's important products. in the seasonal they're into addition and we're this And summer. solutions they the elections,

safety So brand suitability they have and running.

One moment for questions.

Jefferies. Our next question with comes James from Heaney

you on you from committed the concessions contribution who customers are about increasing revenue cohort Can measurement? asked for that pricing of saw the volume commitments. that just you their mentioned talk these I to customers know

ramp you're impact to about full just and up? from QX So starting how curious the back those customers thinking year

out we Sure. those James, sorry, question. We expected. as transparent we terms with in thanks were cohort -- that played measurement you In for renewals shared of in call, of earnings QX, we and our this saw. and last trends the QX the clear with

that renewals of the charging So partially CPM TMQ measurement the that CPMs. in cohort impact slightly on we're premium of that reflective of QX, by did and trends in that helped for offset drive this the decline, our was for also up TMQ average CPMs our expanding, as is measurement our was but and

-- as things we -- played so we And factor out and expected.

and on the move measurement I are renewals the net There add volume. positive, and that we just be XXX% at to renewals, expected the price the into of similar our we them had is other actually factored enhance expanded to As renewed question. one through to year, guidance. thing of wanted QX all revenue In we

one I Great. as conversation quick hear retail And mean, about just media. just much we didn't I ask if for Lisa, one could more

to some of So done. that there I get thoughts and would the partnerships you've updated love your on

Sure.

Retail our that Networks, have happy the share have X Media, And and to Media which we in the be solutions. grew the leaning out in these of Retail the we Retail and Media top it in fact partners XX partnerships Retail QX, with integrations players. one So are that year-over-year, strength Media I'd from volume into stat demonstrates XX%

questions. moment for One

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

industry bit And IAB war the about some we've kind the wanted seems in pushback of heard declared has little MFA our of on against like solution. a that of ask I MFAs to It conversations.

early expectations just for how on if adoption your -- solution? curious So elaborate of that can just you or feedback

Sure.

an AI-driven you've customers solution that GA to our spend up In their I'm spanned reports seen for wasting XXX on rolling ad and our our because web MFA sites. important incredibly over was April, with we launched advertisers the our third-party campaigns. that solution say XX% of are that extensive after out MFA sure MFA beta So MFA advertising

solution, the they're thing about leaning customers, sites MFA should And we've fact call with to out measure our they and the the performance and solution clutter advertising launched solution GA. love maximum that into brand. the I both ad the for one MFA Our drive optimize is efficiency to and ultimately against first

engagement XXX the run they're in beta, So early into it product. with the advertisers days, leaning campaigns is the having but the the now and got

question -- for our One comes with questions Mark Evercore moment Mahaney next ISI. from

you, of could range into for just And briefly deprecation the access some expand of that sell you ability it's year? the just in Meta? been impact to material there cookie then have the obviously on the inventory to on with able very within Meta pushout has to you the solutions build-out you're solutions many How time been now. about separately, coming next business. comment It's the more for of -- latest thoughts What has your you sell in your to? could again, that? Could talk Just early the much continue you you how and balance

Mark. that, Sure. Happy to take

our for total we've Meta, were But with our opening what with Instagram Meta Facebook media and Meta solutions. up the verification the for -- clamoring is speed, quality. advertisers feed to reels been So up running news open

that, with familiar You're safety the brand suitability solutions. and

product So that X. February launched we

and Meta seeing of XX% languages new very before, the expansion, mentioned an we terms also total growth on we strong the I recently of we're languages. As saw with And we additional supported in now adoption, volumes. XX That's announced TMQ offering XX year-over-year launched in adoption. a that

In and with that, our more out continue we'll customers with markets advertising languages addition to Meta. to and for TMQ, more roll

customers which I as to according launch aligned our product April, mentioned, road to the launched, of of launch we the is advertising pulled half misinformation misinformation also elections misinformation from to meta, we before and the into We framework. first GARM in were the demand also in thrilled map because our

focus brands. In out is terms advertisers we the environment second environment cookie and a deprecation for their contextual what of pushing on deprecation business where our question your to XXXX. tailwind running with actually is Cookie because are the

So as tailwind. getting cookies see it products. on not a we're of for optimization verification XXXX, And again, ultimately or it dependent even we our out any pushed since to is

One moment for questions.

from comes Truist Squali with Youssef Securities. question next Our

an in existing versus just generating product, please. obviously is Lisa, jive already volume of I Meta XX% that that for separately bundle you're at that then from it referenced, premium growth that charging with revenues follow-up, think being you're you the I that? talked And Are that you you a And that? have does that how part about selling? a

one. that take to Happy Yes.

we're granularity is product. representing image, sophistication video the media is the audio the of February. in to seeing TMQ able with our technology, technology, of classify tremendous volume total yes, because year-over-year quality TMQ, because of of that of frame And tech frame. So the adoption launching growth we're That XX% by

we're frame. is for and every of higher improve classifying single media of demonstrate because we're XX-second is able quality granularity what running, finding video that, And premium. that the to So we're because means advertisers that the charging we're a

as that, the social offering. the about of give on overall. XX% the XX% of if roughly, a $XX on expectations our Meta we've through rate continues premium TMQ you revenue. and volume with of already Meta a today We've our over of And launch, approximately in Meta seize to increase way take, you that that year, revenue it, help rest to just successfully mentioned, million the of opportunity assuming we're our Meta thinking growth is add media To we And negotiated or the thanks, on that's since experienced for its all Lisa.

about That's revenue talk just little bit with unpack actually that That's great. And impressive. to that? and talked the in Can double-digit then growth you the very you clients. drivers mid-tier a of

to I'm take happy Sure. that.

call, in revenue large on And add data double-digit is sales on. clients, we growth pharmaceutical team are the We our it's the couple defined see and today that did DSPs. earlier with mentioned half we're is sector. partnerships where with establishing to channel opportunity the mid-tier mid-tier it particular seeing points nice A area So were focused in where customers. our runway of more of customers with and the than to an very in mid-tier X as there QX, mid-tier

agencies partners. mid-tier preferred signed also or as X their exclusive We

in channel. will we about terms put mid-tier very on team the the momentum the we're the with and cross-sell, that continue So good of to traction new board feeling have, upsell and mid-tier logos and

for moment One questions.

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

at your about you like raised the about year same. So maybe million. looking for And was just by first guidance it by guidance the your above $X guidance, quarter looked

if outlooks optimization which sounds about to be a through after for how think your that's the little enthusiastic be might and it all, enthusiastically growth Meta, for it. have it first of me to wondering, clarity weaker. Facebook speak kind measurements a more I as about print? more of compared get how which quarter I measurement, want or wondering, You for would driven path measurement, more So should you'd was by about little right me. social to of a changed I'm fourth little to -- the imply like looks like That's that's the correct, I year, media a bit I on balance more maybe be bit that reading the if optimization prospects it, but was

million EBITDA Omar, of of $X for million. clarity, $X range the midpoint our an midpoint full year and we increased our revenue was increase at also guidance by the

the midpoint top growth the margin XX% line revenue a XX% EBITDA So and the at at midpoint. on

half as and then Yes. the available product momentum to the offering several safety what like regarding suitability -- And Snap, in terms we later mentioned our will of we've launching, new referring call, launching the Snap, of product partnerships map we brand also TMQ the products. earlier -- road year adoption, year. before, the were platforms, first-to-market as And social like platforms cookie-free with which be on this said we're social nice are across the I product, and especially back with

mentioned So at running MFA, advertising misinformation, future these we're postbid, and MFA which I momentum attention, like customers we'll the adoption offer and before the the solutions. lean into both we looking and half we the we're in ride prebid robust just cross-sell, campaigns, products cookieless into in beta a did ensure our the had upsell world, seeing this XXX of year. continue back driving to and that

the to in of product this also because for investments the road the map, to is AI execute. power investments we're deliver ability and on make confident team making products The increased we're innovation, other our outlook in we're making to the note ability on robustness the of

just optimization, to me guide, if this can outlook you focus compared when maybe worsened just all so bit? at Let a has like narrow optimization initial little for your as even on gave I down your

had second full we've have given and given overall, announced products, Omar, in in mean, of a the products did many QSP, of and than have example, view still about that products for those that beat the the QX, mean from of our more rate while the confident year the our market the year, half like say that, now we that's ramp half I we've half in QX of lot expected raise a an the is we're for positive is we in of the second growth particular, declined. year. we QX. our doubling to confidence I outlook guide that we're And and are for launch still looking no, the second the wouldn't and that we for I our in which launched already optimization, we're year. optimization, at confident of

I one could. question, Just more if

in is last going or first of coming? coming context how grow context to using a You started on consumption Is it accounts I kind like the if new growth for specific transcript. that time to from product. accounts? Is And by 'XX? the it talk haven't control mentioned increased about growth a the quarters, driver the it so, think of anymore? existing in in that you control decel Is of or couple for call And

question. Great

QX. of reflected optimization which, you terms the in So overall it the context performance period, remember, in as might it through control demand, ramped

and grow So in it their context board We're on seeing the existing, with March a continue control. we're wins team new to logo both. seeing will and QX. logo versus control, put in existing context increase in advertisers From we're seeing improved new spend also the

Mark -- from next Stifel. Kelley for questions with comes question moment One our

may proceed. You

to in a, seeing more if maybe guess, And and is become important possible know kind Publica things in ask back from Great. talk I as you're programmatic CTV. to out was the I of biddable. you hoping I for that but conversation. current that b, about, it's CTV you super and Publica mind, strip go can trends to segment, my

be guess, is that programmatic. biddable great. in bit way think more versus a and your how attach more. there deal products a or a That desirable makes would frame I your either solutions for needed rates are used like private environment us to I

differentiation in we question of that the take terms to trends have. Mark, happy, I'm Yes. that and

I very -- you're Publica. with So know and familiar

major global public platform, both we OEMs. have deep broadcasters So relationships, and the the as TV a with

back together we side brands. publishers the that, both least the the what to brands brands. a to global and and between buy the relationships terms the their it's shifting And forefront an of and on. And bringing the Fortune of transparency positioned drive, holding #X transparency. actually where are CTV the several providing describing focused being marketplace trust reason, create buys addition team linear in is so of at Because here brands IAS sell and -- can TV in We're OEMs. have speaking dollars initiatives here major because area broadcasters of I'm at have what's activated. for programmatic XXX with uniquely between In with We we're I in into in transparency already U.S. already they show-level enabling transparency are brands, that for the we're lack that's and particular, level very in that this CTV motion of CTV TV

focused where the now we're on and is the and right OEMs direct that's very the show the So level broadcasters. also with with partnerships transparency

PMP inventory and in biddable a programmatic just difference more anything CTV? on between like deal And the Okay. like

Yes. We're biddable area. the to leaning programmatic more in

One moment questions. for

Our Zgut Mark the Benchmark Company. with comes next from question

hoping your measurement. versus I maybe Tania, growth to an earlier little ask question was optimization a differently about in

a to know I least in you've and segment, that from XQ, but still optimization to X-year at your deceleration on at stack. a growth look XQ, you implies doubling guided If XQ

in your there would for expecting maybe a of second measurement just you if guidance, could in close the optimization, about I to unless guess, might is, that expand if you XX%, looks provide me and the guidance, question from mix mix And the need like measurement be? So the might we you on think be what XX%, optimization you're see to some XX% trend reacceleration your guidance that to line follow perhaps color of it half, to same if helpful.

Sure.

double range, look you at than midpoint expected to be digits. than and rate midpoint is our in As higher at lower midpoint, guidance measurement of growth the be slightly full social is the in the the the at year to growth by optimization expected fueled although XX%

be we that Or just should there any strength then next And that sequential Great. that Is X measurement. quarters? linear one is Okay. last one in in pretty should of -- segment? terms in expect the lumpiness that on

driven as primarily by measurement our think growth year, it would throughout TMQ. social the really So about I

don't trends lumpiness, any In the move seeing an as of our the we but terms through do we we're given expect acceleration year. of measurement lumpiness, we anticipate, rate growth

questions. for Mauricio comes moment next Raymond question from One Junos with James.

Thank expanded you. opportunity the to go back Lisa, just wanted on Meta. yes, I to

perhaps about now in adopt the on Meta TMQ are advertise in so that advertise adoption it offer could do is for rate under already in the reception those which talked that customers of expanding You Meta start and social social this platform data on have umbrella. the But what obviously those to might not but -- that your call. the context wondering and I'm you TMQ customers you're opportunity largest you, some if doing between is seeing and early

about could cohort? if And talk adoption this you're of and I you sort have then interest seeing please a So by follow-up.

to sure. take Yes, Happy that.

in of Meta in are tremendous all early adoption. shared the stats TMQ I've in and important And that the Meta fact a the The launched on February advertisers. for in launching we're in X, I really We've continue rate, growth partner, seeing elections. as out and social. So we to have February, is seeing the margin And with terms we're advertisers advertise who volume, especially of languages, meaningful more misinformation that, which Meta, can one combination this adoption April Fortune are the ones XXX the since on to existing to is for XXX stat share more of also roll that launch terms new is the adopted TMQ during also over the Meta logos the global -- was thrilled languages, and in seeing new advertisers, plan fact U.S. addition marketers. advertised we're a we

it's a about the of obviously, CTV, Okay. And spending. then lot long-term of driver CTV, excitement digital of on prospects a

to a format just the potential expected come be CPM, time lower from within TV, largely that if So which tailwind to ask the formats advertisers you. which continue of will high we'd other shifting video about wanted initially understanding digital, is incremental be CTV linear budget But volume. into you the most from to has impact from shifting relatively emphasize it's dollars but to

this if higher including stage you that to CPMs? dynamic think allow the So about from capitalizing any strategy potential and you perhaps could talk taking benefit trend, to about monetization the this would

that. take Yes. Happy to

trends the that seeing, are In a there few. of we're terms

CTV, Netflix from with budgets is moving are into in linear CTV premium moved a over So Netflix, we what TV into on it's measurement partnership CTV those whether typically, content have or running programmatic like with traditional CTV. particular,

a but terms dollars through as it's now of stream out you today, we when growth. And and from video and shorts, terms billion, it explosive the in billion roof the a the I'd right those they live about of advertising in how CTV. to high platforms. then call to new in that what, their And double-digit sharing running in other digital we're advertisers Lots marketplace usage Short-form users that's like as also which of engagement Meta's So and CTV industry of with short-form $XX in you are, reels, are viewing, of measurement the video, that's is is think revenue why video as go higher in because feeds creating, YouTube platforms area more $XX growth The the the calls, of days, short-form is runway earnings within of CPM. YouTube the CTV view growth early users short-form and on investing an about seeing such social, more say, short-form commands Meta social brands the video. video, TikTok. the hear on where roughly,

for back now the closing titer like turn to would over any to remarks. call I Utzschneider

upcoming adoption proud pleased products call. and into Thanks, for to at team's the and investor our quarter. joining drive everyone, updating with We're momentum on to today's progress second seeing to several you you heading look We the execution, global throughout of events. our I'm innovative of our we're excited year. new our forward

the concludes Thank This your you participation. conference. you. for Thank

You disconnect. may now