Taboola.com Ltd reported a strong start to 2024 with Q1 revenue of approximately $414 million, marking a 26% increase year-over-year. However, a net loss of $26.2 million was reported. Other financial highlights include:
- Non-GAAP net income of $3.8 million
- Adjusted EBITDA of $23.5 million
- Free cash flow of $26.8 million
- X-Tack revenue growth of 20% to $139 million
- $28 million worth of shares repurchased
The company's 2024 guidance includes:
- Revenue expected to be between $1.89 billion to $1.94 billion
- Adjusted EBITDA projected to exceed $200 million
- Free cash flow anticipated to be over $100 million
Despite the strong Q1 performance, full-year guidance remains unchanged, indicating potential caution about future market conditions. The onboarding of Yahoo and integration processes are complex and ongoing, posing risks to operations. Operating expenses have increased due to costs associated with significant inventory and partnerships.
