Revenue: As of FY2025 Q1, the actual value is USD 286.36 M, beating the estimate of USD 285.18 M.

EPS: As of FY2025 Q1, the actual value is USD -0.7.

EBIT: As of FY2025 Q1, the actual value is USD -68.04 M.

Segment Revenue

• Revenue for the three months ended March 31, 2025 was $286.4 million, reflecting a 32.0% increase compared to $217.0 million for the same period in 2024.

Operational Metrics

• Gross profit for the three months ended March 31, 2025 was $82.7 million, with a gross margin of 28.9%, compared to a gross profit of $41.6 million and a gross margin of 19.2% for the same period in 2024.
• Net loss for the three months ended March 31, 2025 was $54.8 million, compared to a net loss of $5.0 million for the same period in 2024.
• Adjusted EBITDA for the three months ended March 31, 2025 was $10.7 million, compared to $1.4 million for the same period in 2024.

Cash Flow

• Net cash used in operating activities for the three months ended March 31, 2025 was - $0.966 million, compared to net cash provided by operating activities of $8.605 million for the same period in 2024.
• Free cash flow for the three months ended March 31, 2025 was - $6.586 million, compared to $4.643 million for the same period in 2024.

Unique Metrics

• Ex-TAC Gross Profit for the three months ended March 31, 2025 was $103.1 million, compared to $52.2 million for the same period in 2024.

Future Outlook and Strategy

Core Business Focus

• The company plans to continue investing in AI technology to enhance advertiser creative and landing page performance, aiming to drive concrete business outcomes and ROAS for advertisers.
• The company expects to incur approximately $16 million to $24 million in charges related to a restructuring plan announced in connection with the Acquisition, with expected cost savings of approximately $40 million in 2025.

Non-Core Business

• The company has discontinued its video product offering associated with its prior acquisition of vi, resulting in impairment charges totaling $15.5 million.