Taboola.com (NASDAQ:TBLA) Reports Strong Q3 2024 Financial Results

On November 7, 2024, Taboola.com Ltd. (TBLA) released its financial results for the third quarter of 2024. The company announced these results through a press release and disclosed additional information alongside their earnings conference call. The financial statements include key highlights regarding the company’s performance during the period.

As per the Exhibit 99.1 attached to the 8-K filing, Taboola reported beating revenue expectations, ex-TAC, and Adjusted EBITDA. The company highlighted that their Free Cash Flow (FCF) for the year is already nearing the FY 2024 target of $100 million and is being raised to over $105 million.

Revenues for Q3 2024 reached $433 million, with impressive growth rates across various metrics. The company reported a 20% increase in revenues, a 30% increase in ex-TAC, a 110% increase in Adjusted EBITDA, and an 88% increase in FCF compared to the previous period. The strong performance was attributed to new publisher partnerships, growth in ad spend, and successful product launches like the GenAI ad assistant, Abby.

Looking ahead, Taboola reiterated its 2024 guidance, projecting significant growth rates across all financial metrics. For Q4 2024, the company forecasts revenues of $475 million, representing a 13% year-over-year growth. Additionally, Taboola is aiming for a 2024 revenue target of $1.75 billion, ex-TAC Gross Profit of $667 million, and more than $200 million in Adjusted EBITDA, showcasing substantial progress.

The 8-K filing also highlighted important corporate updates, including the release of a shareholder letter, investor presentation, and key financial data. Taboola emphasized its strategy of becoming a leading performance advertising company in the open web and shared plans for an Investor Day early next year.

The company’s financials underscore consistent growth, strong performance, and a strategic focus on innovation and expansion. Shareholders and investors are encouraged to review the full details of the financial results and guidance provided in the attached exhibit.

For more information and detailed reconciliations of financial measures, including non-GAAP figures, interested parties can refer to the entire 8-K filing and the attached financial statements on the SEC website or Taboola’s investor relations page.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Taboola.com’s 8K filing here.

About Taboola.com

Taboola.com Ltd., together with its subsidiaries, operates an artificial intelligence-based algorithmic engine platform in Israel, the United States, the United Kingdom, Germany, and internationally. It offers Taboola, a platform that partners with websites, devices, and mobile apps to recommend editorial content and advertisements on the open web to users.