Full-Year Revenue Growth
Full-year 2025 revenue increased to $86.2M from $83.8M in 2024, a rise of $2.4M (~2.9%), driven by strong performance in the first half of the year and contributions from two largest Platform clients.
IntentKey Customer Acquisition and Pipeline
IntentKey added 83 new clients in 2025 and management entered 2026 with the strongest sales pipeline for IntentKey to date; early 2026 metrics show improved retention quality, higher average budget commitments and stronger revenue visibility versus prior year.
Product and Market Expansion
Recent integrations with SSPs and DSPs expand addressable market into privacy-sensitive verticals (pharmaceuticals, health care, government); pilot launched for social media offering and exploration of AI chat integrations; IntentKey product website and refreshed corporate site planned to raise industry profile.
Cost Reduction and Operating Expense Improvement
Full-year operating expenses decreased to $70.9M, down $6.4M (8%) year-over-year, driven by a $7.8M reduction in marketing spend; Q4 operating expenses fell more than 50% YoY, with marketing down ~60% in the quarter.
Improved Full-Year Net Loss Metrics
Net loss for 2025 was $5.1M, an improvement of $667K versus 2024's $5.8M; net loss per share improved to $0.35 from $0.41 in 2024.
Liquidity Events and Access to Capital
Year-end liquidity included $2.8M in cash and $6.7M available on the borrowing facility; subsequent January transactions provided additional capital including a $3.3M subordinated convertible note and $6.2M received from a class action settlement.
Operational Improvements and Quality Controls
AI-powered quality assurance tool Ranger is live to ensure traffic quality and compliance; company launched clicktransparency.org to drive industry standards on click integrity and is migrating data centers to AWS for cost savings and scalability.