Integral Ad Science Holding (IAS) 12 Nov 242024 Q3 Earnings call transcript

Good day, and thank you for standing by. Welcome to the IAS Q3 2024 Earnings Call. [Operator Instructions] I would now like to hand the conference over to your first speaker today, Jonathan Schaffer, SVP of Investor Relations.

I'm joined today by Lisa Utzschneider, CEO; and Tania Secor, CFO.

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

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

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

a across quarter increase double-digit revenue total with reported our for and growth measurement the We optimization, in businesses. publisher

and our partnerships, technology new expanded We strategic and won solution, also first-to-market optimization including hires. product including from customers, Oracle senior-level announced our platform innovation, meta advanced

limited third volume performance, While growth notably of we long-term term, near and for made in was sustainable a IAS most significant CPG toward retail. revenue quarter in positioning the by slowdown our progress XX% growth in

of and for taking on to a products a The in prudent expected represent based As brands have of to to ability Chief and contribution. offerings Product we revenue partnerships Officer; XXXX Srishti's IAS are commitment last our our months, spend. approximately deliver fourth development XX%, Srishti fourth as our we consistent maintain and Mark development. executive exceeded In their of of which leadership with organization their growth and managing advertising where leader to Advertising, quarter customer year's Srishti record he brings mid-market. drive the September, our recent technology, sides our global and we product including third greater quarter advances Oracle quarter expect and meet year for including and Grapeshot. Mark In future long-term of margin is commercial superior is quarter IAS expect addition our and to needs the third Chief ROI senior brings Moat, the and suite differentiated from obsession our diligently our enhanced approach Criteo, advertising product platform by a spanning costs. enterprise of third IAS' We our and a fourth revenue We to growth. BlueKai efficiency Grabowski visionary strengthens Operating team experience experience of as Mark customer-first He fourth adjusted and leadership, industry, level approach AI-backed adjusted reported to leadership EBITDA further global to quarter. the to XX%, also product market full demand year led with Officer. fourth He The partners. Yahoo. the and result, welcomed expectations and advertising at customers leadership quarter we full quarter. our outlook XX% EBITDA Gupta Mark to Oracle's extensive on par quarter IAS across both and leadership supply Persio and the and joined Dataalogix, products, our

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We pace signed continue business Oracle which with representing win XX% greenfield on to as Oracle. brands Oracle and a We major publishers strong won we opportunities in June, more with participate. advertisers, of maintain previously with new well since new a XX momentum, including global as opportunities partnerships customers rate platforms than

hired in former an Oracle gives advantage XX employees, us over which we Oracle and have We securing customers. believe onboarding

platforms as such Peacock, as Nextdoor, NASCAR, and Quantcast, as Jones, TripleLift. Cargo Desk, Trade Dow and New Heineken and and Pandora such Bloomberg, such Condé Oracle brands the include Nast Emirates, wins publishers

on in-market of some integration optimization Oracle programmatic along selected quality IAS of Let of based switched on me sustainability. Heineken attention a measurement Dubai, offerings. was and to part IAS recent full the commitment and delivers deprecation, in color supply provider our process. chain, coverage, including Oracle taking Emirates, some based which and the Moat strength as to solution, competitive won Moat with wins. CTV global map, total IAS superior from as opportunity airline strategic innovation advantage seamless chose solutions, the media and across on our the core suite measurement awarded with opportunity tagging Peacock global quality CTV the our transparency product robust of road our industry-leading based a these our additional IAS provide of auto costs global the partner, and service. personal IAS Moat. technology into following their visibility offerings, exclusive Emirates the replacing as

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sensitivity We are also coverage by TMQ markets XXXX. for exclusion XX-plus and vertical of the category expanding TikTok, end to controls

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has delighted testing Meta. prebid technology were optimization classification as initial the across our on differentiated the that Meta rollout We our accelerated for prebid partner offering solutions Our IAS the optimization of social platforms. of their selected major

by verification Google's Google on to TikTok, and are product consolidate to Our Manager. testing third-party latest actionable to optimization Last goal of offers month, and that drive ads attention on Curation new Google. annual we long-standing the target models, expansion of we brands our Reels the we currently CTV, IAS global as their stack, relevant social the announced publisher for ML-backed score, measurement Instagram media over for unsuitable now prebid Facebook This alpha into weighs billion our platform. only including placing the in automatically solution and ad announced content revenue Ad extend to post-bid to with ad block in publishers to TikTok next best-performing which attention doubles quarter million builds platforms. with eMarketer. can of offerings their Feed delivery launch content on aligned and ads launch. avoid the launch advertisers with and layers Curation, ability all of for on the buys. The from content according the listing standards. launch partnership optimization sell-side earlier for SSPs quality supporting loop advantage and the Curation market LinkedIn device, attention industry can contextually Last follows on measurement With integrations Meta. metrics a pre-bid take prebid month, our of of October investing quality Meta and expansion IAS' an prebid postbid This to with X. on post-bid video than $XX Prebid accounted exclusion provider the inventory use the in optimization we is closes solution IAS bidding list Last announced unlocking inventory. IAS of reach measurement the in publishers spend as revenue. $XXX we Leveraging high-quality third their currently we level to which for projected size our more is are XXXX, of and opportunity advertisers in and social precisely our week, in revenue, our launch the XX% on In total partnership efficiency of of

optimization customers products, sources. full which greater us suite the drive even allows are accessing core our to demand Our across of Publica

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We measure expect deeper expanding potential. collaborations us IAS' outcomes to campaign at will level these while allow monetization a

our Our key building on goal third-party to commitment campaigns measurable To recent our progress including is enable conclude, former their we We've and in and optimize team data advertising and new and Rule providing underscores well opportunities, are winning This with with above to XX, customers. we objectives. IAS' high-quality we to initiative and data look XXXX. steps our appointments, C-level and to growth to trusted senior insights, value leverage advertisers to sets and meet taking performance forward Oracle's improve strengthened we're delivered profitability business of revenue the performance. leadership

our solution Meta, informed on customer. highlighted by product voice we are As innovation leading first-to-market with the of optimization prebid by the

initiatives delivering And then focus benefit with your questions. I'll take to a on to these turn with review XXXX. double-digit revenue expect in Tania financials, and We to the growth call that, the over we'll from

optimization, businesses. We for publisher the quarter our third gains XX% reported across growth with revenue and measurement

addition, reported EBITDA an record margin profitability of we adjusted with XX%. In

these in and this noted, a advertiser was revenue quarter. volume and in budget attribute second in in Lisa cuts term, CPG retail. to spending most in digital by in the of As for media the near half the growth limited verticals quarter We growth notably slowdown delays the

increased to adoption growth of our Control Measurement period including Sync in seeing third offering third new $XXX.X for reflects this quarter of we're increased was Context grew primarily increased to Total monetization XX% adoption TMQ Quality Measurement across adoption Made in avoidance several healthy driven the to the $XX.X experienced we our Optimization growth revenue revenue quarter. XX% revenue period. and global of advertising. launched platforms. X% while premium third million Optimization million offerings, the in by revenue $XX.X year, in lower-than-anticipated in the social million. addition, increased quarter. the In products the

represented XX% up XXXX. of measurement the media revenue, and quarter from XX% Social of second in XX% revenue grew

believe of in and with revenue, which differentiator. the media year third the products, total logos. our from our both Social XX% to total XX% accounted XX% We represented Video total social quarter adoption IAS $XX.X TMQ extensive as of and the well revenue revenue Web benefit growth publisher revenue in result continues million, quarter. Publica, large Americas. Total outside from advertisers, for also OEM of new media for saw increased measurement the XX% Open competitive our was came which consistent expectations period. XX% revenue in the growth benefited of a spend. XX% growth revenue of to represented of measurement, ahead XX% Non-CTV measurement the of represented as represented $XX particularly third media the revenue with revenue optimization the our be quarter. in third We contribution quarter footprint partners grew third political social of million quarter. revenue. a third and prior in of quarter XX% products from revenue. increased of period. the third including in total some as revenue International global of from revenue from XX% new Publisher our the Publisher of scaled includes or

the costs. development third prior margin In was and Gross and from measurement marketing, of margin optimization hosting up expenses from our in improved outside and of year-over-year. revenue technology for of general period. addition, XX% Sales XX% the increased reflects Americas. year the Gross X% XX%, was performance profit administrative quarter and combined

share million. EBITDA million, tax was $XX the options gross of expense our new greater million make driven profit closely third strategic margin quarter, third in to which million compared increased the software the developed including for talent was our timing managing of XXXX. increased in $XX with the XX% for stock-based related third a above outlook efficiencies continue income to our Oracle EBITDA onetime Adjusted $XX million of and period loss to operating per internally of quarter The the third stock-based to in prior prior $X.XX excludes in the and compensation the Higher Stock-based while line $XX.X million, provision net of was to quarter. margin for EBITDA from items, loss contributed quarter by quarter adjusted from outlook XX% the We year. Adjusted prior strong $XX.X $XX.X million. XXXX. Net return year compensation $XX.X $XX to income million to was margin, compensation our second last period the costs. hires, expense target expensed in or of capitalization

Moving to performance our metrics.

compared number trend trailing The of large total of revenue Our for to total was retention, mid-tier period. with reflects third a advertising XXX on XX-month large rate top-tier customers, clients the customers basis. which growth includes annual advertising revenue grew XX% which the $XXX,XXX Revenue last and net to was advertising of from quarter revenue XXX our year. or XX-month NRR, XXX%, over revenue both trailing overall advertising

of continue cash generate and end million. strong to maintain balance cash the flows of We at healthy quarter equivalents third $XX cash with sheet the a and

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

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

guidance. to Turning

at XX% revenue of For the or XXXX, million year-over-year expect $XXX $XXX midpoint. December the range we fourth ending quarter XX, to total the growth million in

revenue retail. in growth outlook CPG and most the term, the volume assumes continuation quarter fourth in Our notably lower of near

the fourth quarter. monetization have factored lower-than-anticipated of We new products in in also

start softening the impacted the at by we brand leading addition, the U.S. elections. of spend quarter, to were up In

quarter the Our the fourth the quarter million earlier. includes million a of expected outlook wins margin $XX Oracle XX% midpoint. $XX Adjusted anticipated discussed fourth to at EBITDA contribution the new in range the for of or is

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

at to A million midpoint. increasing additional full XX% $XXX year or the modeling margin our few EBITDA are We a to $XXX adjusted outlook million points.

the result million of a expect end strong expense in target $XX $XX is performance, the gross of of stock-based year XX% margin full range for As compensation we upper achieve and our margin to XX%. Fourth the million to of expected to now gross quarter our to $XX million year. $XX full million

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

on will move we continue As growth. profitable XXXX, to focus we into

growth are planning XXXX QX in are we we XXXX, growth for revenue ramp not we with through in While are year. double-digit a the today, providing moderate guidance expecting and

expect won media, We XXXX of scaling products in contribution as full prebid adoption launched to Oracle the social benefit the optimization with well the along of in from year as recently business. from

in continue invest maintaining strong costs our profitability. XXXX will and while to products We managing differentiated in

We our XXXX, are fifth full keep XX well that, year the the take of now which IPO. XXXX ready adjusted forecasted with to Rule similar us margin of margin since questions. outlook, And consecutive the Lisa targeting I your are and in EBITDA year will for to above

Matt Farrell Instructions] [Operator first Sandler. question of comes Piper Our from

would the internal regarding quarter color additional in driver? to products. to it you hear provide more add could ramp would My any a CPG be, little And helpful. would customer-specific to an few Was new Was about as be a bit customers? well you slower-than-expected hear driver? Anything isolated a of fourth dynamics would love the I broad-based? retail impacted it and can the first outlook. that one love the was dynamics third Was Or just and the that

few quarter ramp adoption, Publica in spend quarter, cuts, volume the want the We robust publisher particularly road ramp we've of launched had things: see a As delays adoption. budget retail growth that in OEM growth, slowdown highlight digital terms had product And basically, media new slowdown attribute CPG XXXX. call for in CTV map. scaled XX% in in slower-than-expected product. out products is our new slower-than-expected many of the and we verticals. in a move product do verticals might did as also to outperformed and through you we products these new with the a new we of to One of I We product as we large third remember, that

the on Some in have and as of seen With products. of other the But in tremendous adoption are a adoption. fact taking we to launched little absolutely that we're that we advertisers. had They're quarter. the rate some leaning first the just the TMQ great the ramp Meta pleased and of a example anticipated. with is products, value adopting longer we're delivering is the than brands

as How about love to should how And growth follow-up then early ramping what year? key the next date revenue would to question, customers. the are of are just be XXXX? And we double-digit the hear that through to move we as contribution integration Oracle those a with learnings thinking

XX in since on customers and were bringing team the Oracle business. that board, Oracle helped live October quarter. As I they integrating, of were What opportunities, more the win place the that announced date, given team. the efforts remember, you I'm and up that with and by importantly, we know to and and very live new both a XX% say customer our properly in rate, I'd of XX win these these dedicated found to but the really rate getting on sales of new exiting advertising proud X, exit listening team closely the running shared integration, the a the fourth Oracle needs, the them September we Oracle. summer activation, saw with might customers customers what announced focused we but a onboarding as that customers on really is the getting we our board Oracle just ensure getting put

Oracle Matt, is quarter. the factored our into of fourth the contribution revenue terms from In ramp,

Andrew comes Our from James. question of next Marok Raymond

September be through know outstanding plans? on a But there might that shutdown go-forward of still evaluating still went that We their volume Oracle significant advertisers the XX. are

Yes.

on onboarding, still team, to current from call We integration, platforms. these I more that of activation had solution. win. are there is business. the given brands, have very business, cross-sell Oracle cross-sell, the brand that XX-plus But And team the should and focused runway upsell, upsell, especially just to again, also focusing win but not activating the mentioned. customers I is suitability customers they're range Oracle on focused we're very publishers going with out fact the and focused more robust a on safety and after The on that did business

over one that more, specifically, on seen One, could. last some solutions. raising you I where contemplated of the your comment couple kind clients on of their your may reports weeks you would maybe just the could IAS be if for holistic that press providing We've 'XX and if to have that some feel respect been Then currently that great. into prices But you're how a of prices value with overall that's your stand commentary? that

important, with We platforms. all products. we a never just That price competitive a that is of as marketplace, we summer lead quality of are our been lead happening especially command we're months. across with to with few we It offering our jump premium the that's the the We mentioned, Oracle the lead had customers. value But last ball value. offering over higher price value so first. We like that demonstrating social with are total products where a media the we quantifying what's differentiated

ROI. products running that are helping media. that proving out we our transparency TikTok ads their are already to greater provide media higher-quality are to are ensuring how adjacent Xx We run ads them demonstrating that higher we lead to them to quality adjacent we're that higher alone,

Helfstein from Oppenheimer comes . question Jason of next Our

spend some now. election. those levels that but XQ gave began or you spending just are are back U.S. U.S. increased advertisers advertisers spend. sort started election to I leading to post they their moderating up have how wondering in guidance, their mentioned Whether the of normal know You

at the the back start up of fourth bounce It's if early to there's in leading spend any advertising elections. quarter, too yet. did U.S. a to tell We see slowdown the

we our As volume the overall, new our we've into seeing with prudent to offerings CPG particularly developed reflected October product in of fourth well and our discussed retail. the as consideration start we taking like we're and well as the quarter and moderating guide, pacing that as in approach factors were as of that this adoption all

Our Heaney comes next question from Jefferies. of James

Could it's you next just talk about but product growth hearing momentum preliminary I guidance, you a XXXX confidence -- you expect that can Just realize more what of little not and the the gives that you drive formal bit what have outlook the double-digit of into some year? sustain you and about that that to growth.

things couple A about of XXXX guidance.

in providing we the ramp not double-digit are expect benefit through we're A with of planning expecting growth in why a double-digit XXXX, with for year. and guidance growth this a we XXXX to moderate While couple revenue QX are we factors today, growth.

of I we social that the in optimization that, newer is launched that in we spoke like launched to of Adoption had year demanded media. are product. in and the earlier these half the the both IAS These first XXXX. products know that prebid TMQ social of just highly we year. products scaling, optimization in launch prebid the to out we our selected Meta on products the back some The activation, of adoption Meta rolled fact

the targeting above the and guidance results won seeing. beta outlook, XX through then to XXXX Oracle product does that that run we're we're make keep to in IPO. engagement another of adjusted further in pleased for since already margin with businesses is our factor have fifth to full wins. advertisers, year full and a the margin year other are of Oracle of handful XXXX the GA fourth Rule and forecasted also and live One year with we which really XXXX, we're recently is contribution of EBITDA And quarter, well similar consecutive us that the point in We

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

dip advertiser of wanted was October leading and September? backtrack kind you to bit more see up did start effect in the preceded the and the just when July, through consistent to election on Or downward spending? August quarter to quarter August. I that the some a this saw like was month assume ask, that third progressed, something effect as it September of of you it I little and in Was abruptly? possibly kind the in trend a that of changed by

in the media with particularly middle started This in The of quarter. primarily softer than budgets soft, was third the September CPG we shift August and delays we clients in their retail that was digital saw and their is saw volume spending. usual. reductions growth in as strong leading seasonal as And see did which quarter, off expecting elections. we the September, softness spending uptick an are in month, mentioned of a materialize. the in typically and then brand did not fourth as up we to beginning earlier, still we kicked the we

first us the Or is growth quarter? that a what a was half of And would granular that sense the in give of be able to too of question? you

the a wanted just to points you give we Really saw what growth perspective. from talking Yes. around

specific For can't numbers. we the Yes, give half. second

Capital question Group. comes from Our next Jason of Craig-Hallum Kreyer

are have optimization advertisers that question, the First versus And have received that what testing from addressed this sorry existing post-bid of tools? looking and just sort how opportunity optimization? already, started been meta you feedback if you but your has at

It's days early the with prebid product. optimization

As has that the beta see patiently the mean, on We but any advertisers this in advertisers referring post-bid And TMQ now they might continue measurement. live. been perspective that been on for to the post-bid product, these demand positive with of other ensuring call to terms I quite both estimate running we social, increase. launch up brands, been the who it's these advertisers. currently feedback. continuing revenue product activate who has off the are been, work was received date has with the advertisers advertisers from what everything to value TikTok, prebid out measurement. the of XXXX versus remember, just pre-bid the social from And get kick ensure prebid feedback on we is the we are The very with and accelerate thing Meta. a We'll a that with handful opportunity advertisers that product positive, you have focused high just to this given mentioned continuing to, to optimization the of beta the Meta more with I one are prior in currently activation And waiting and to products continue that running team to Xx of GA. And activation before, we LinkedIn, is running we ran pre-bid prebid we've with very get that a I been the with and opportunity

GAM? just launch you the you given partners? the IAS could data curation And the across within opportunity on extended assets the similar Curation sell-side that within integrations you see with What's be this expand of other Could have?

thrilled Manager to too, were IAS' we're higher-quality to is IAS innovate announce demonstration contextually Google, with precise their one, Google are Curation target with and ensure embedding bidding a early first-to-market long-standing in and about we're thrilled a content way. Google days, but to way continuing the contextual This inventory to it leveraging of Ad We data relevant it's Manager. with of a And launch more on to brands and consolidate Ad Google. think is it partnership in that able that

from comes question BMO. next Our of Brian Pitz

And integration discussing handful accounts I long that I Is the discussion only you discussed platforms, this over asking most just update going? seek but right an give something advertisers Any shift really know processes? now? there? from into your the insurance update gaming feedback a sales know a continue on notably to you or that on or feedback broader Roblox. early, and How and quick to are maybe video Can and it's then that during is us performance for efficiency run. previously that transparency

answer to if invests advertisers The word to advertising. an related that higher Happy heading the efficiency to brands advertising, The also and level, would bang that brands media reach on the is on the more Fortune prebid want XXX important, that digital it for best products digital through we top and expectations brand providing absolutely ensuring macro protect reputation brand is that at With we It's a But fact advertiser also ROI from the transparency, that for focused drive and when the that all products, get macro The that, advertising that very solutions equity, solutions brands. one. the that that in mind from brands single Every efficiency not of the help equally, into shift brands insurance, we're their are helping say brands very focused we're the IAS they perspective. that definitely their quarter, ROI. drive to and again, that. more advertising, that are is buck. protecting higher this quality repeatedly dollar providing offering a things I that higher offering. hear efficiency ROI, around the for is comes we're equity. fourth brand at drive

In terms important continues the an for to of feedback on be brands. channel emerging gaming, gaming

prioritize perspective the social say when how and Our especially Roblox audio the gaming. products, and partnership I and IAS then a brands a I solutions, media, is comes it that. various channels to reflection would retail of optimization, say is it channel from would

from comes question Matt next of Cost Morgan Our Stanley.

think, I of publisher changing was just accelerating It about business. this areas publisher I that's to I the actually growth of new guess, strength there, year you a of call out wanted that followed, acceleration it's would or pretty side adoption? revenue. anything on quarter, and meaningful the ask over a

XX-plus as advertising in to in this the Publica percent political modest third growth particular, the strong in the post really partnerships. a have expand our growth we in quarter, quarter. business third pleased Publica, benefit our did to from quarter. within we publisher from disclosed continued performance continue We're with the very second accelerating

publisher non-CTV out of our did call we on that some business been making. business is of we've our some reflection to historical see in in growth publisher investments that other the business as a The due strength

we quarter, bit year modest are and As we the third in political, but publisher mid-teen growth expect we in a revenue to full growth. a bringing did move mid-teen have overall quarter fourth growth into the our the to publisher the expecting business benefit given fourth moderate from quarter

comes from ISI. question next Culbreth Our Robert Evercore of

a any could optimization unlock but tools an of the wanted couple ask used who tools. Have think been customers measurement, you I there the then to prebid And be social on demand? activate haven't social to pre-bid publishing tell of was ex ones advertising end quick on moved you and in Oracle of mix any over between QX? Anything revenue who anyone life Oracle. could And us anticipated revenue? the before contribution there about from

be The to engaged have would optimization. first would to and to mid-market say want into ones social Mid-market beta both lean It's to we just the and the Ideally, of has who do prebid are And all yet prebid more to marketers. I the activate larger Fortune terms in would and prebid those anticipate post-bid prebid question and XXX drive we yes, both and to again, activation. the use GA But is performance-based continue post-bid for -- we'll big mid-market. hard, in team out. social, around any that prebid? advertisers. use the of in product And who They're both being brands prebid adapt advertisers advertiser the early a advertisers postbid the yet have currently that days type the social brands. pitching

the advertising In particularly expect Oracle measurement. see our the across across we business. publisher business, to impact also terms term, of in do mix our revenue, short an of in

As mix we offerings. scale opportunity our and optimization shift larger time, becomes we as we time, that expect over and to the over to cross-sell upsell continue do

to of implications there to pitch sort quick mid-market follow-up? Are this solution or performance-oriented utilizing or maybe benefits around there? advertisers way those Can a optimization performance there performance-based prebid prebid? I a of Is some from the ask

the activate that these XXXX, we're meta, inning happy since provide the in social have performance to more more need prebid once we're question. color that. pitch to would of of In terms accounts in would mid-market in first prebid some of Yes, optimization around say we results, the and on first social. great we basically I in prebid data

Securities. Youssef Our Truist Squali next question from comes of

on QX the part pricing the assuming pressure that back a are guys what also line measurement? you there of Tania, in top and bit is was maybe that these wins little about? of got And you've from and pressure can optimization that trend measurement you on on particular, in you unpack some the a guide just of the talked in on terms the of Oracle,

Lisa, third. X, if want you I'll cover the the to first handle

current guide, volume quarter CPG in and in particularly that. this the Our the of saw really a we're perspective, in also lower-than-expected we of just from we just fourth term, revenue to are lower monetization fourth the in where that continuation growth unpacking kind the accelerating near on our of outlook being guidance robust assumes did reflect products earlier adjusting adoption, factored We've talked year. retail, and the the quarter thoughtful we And prudent and launched time map. product factored for TMQ expected about, but really the as we as then And large we're as Meta not a we in finally, XXXX softer-than-expected dynamics. some And XXXX, market versus nice very the given of up we in. have Lisa all this seeing still Meta, road We've leading did to election. the frame example, growth see

to from margin to the the EBITDA one from this It's year is around our calling which we and quarter last worth impact to in last this revenue our out, also that quarter. We pleased wins. is year exceed were full And our guidance that new also in consistent gross versus sure strength, on is the the for metric we guidance XX%, improving the particularly year fourth guide about make fourth with want highlight our you contribution the we period raising EBITDA because also the overall, factored year-over-year year. Oracle really some third quarter with of

up that. on follow I'll

Youssef.

it ball question In basic the pricing level that summer. with both throughout offered offerings. there. pressure our competitive more and rates service. of premium Oracle terms customers offered Oracle around notes won product We couple a jump Yes, was your opportunity process of upsell the cross-sell of with the any a the wins, to a we competitive and

rates. the I our the technology prospects, As first engaged focus value we and yes, with value. We offering. always mentioned demonstrated And before, on these competitive we of were we offered product, differentiation demonstrated

the answer measurement One to more second question trend your around and thing, optimization. specifically in

growth the quarter advertising in as our publisher rate We both fourth the I are mentioned, uptick expecting of in and growth slight rate measurement a revenue, moderating. optimization,

Our XX% dynamic of is but guide in the publishers slight is quarter, to expected with fourth our as in there uptick quarter, also advertising third in midpoint a the that XX% moderate.

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customer there? to versus pricing better like a when a in just to the product the measurement get up And optimization able regard you last certain question, adopts price Following is environment increase, on out you can the about talk prebid overall customer just a pricing if are leverage customer?

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joining for call. everyone, Thanks, today's

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