The earnings call reflects a positive sentiment due to strong financial performance, successful integration of the merger, and growth in CTV revenue. However, there are notable challenges, including a pro forma revenue decline, significant acquisition costs, and cash flow issues. The company appears optimistic about future growth and cost synergies.

Company Guidance

During the Outbrain Inc. First Quarter 2025 Earnings Conference Call, management provided guidance on several key financial metrics. They reported achieving their Q1 guidance for Ex-TAC gross profit and adjusted EBITDA, with Ex-TAC gross profit reaching $103.1 million, a 98% year-over-year increase due to the acquisition of Teads. Adjusted EBITDA for Q1 was $10.7 million, a more than sevenfold increase from the previous year. They targeted $60 million in annualized cost savings by 2026, with $40 million expected in 2025, primarily from compensation-related synergies, of which 90% have been actioned. For Q2, they guided Ex-TAC gross profit to be between $141 million and $150 million, and adjusted EBITDA between $26 million and $34 million. Full-year 2025 adjusted EBITDA is anticipated to be at least $180 million. Revenue in Q1 was approximately $286 million, a 32% increase year-over-year, driven by the acquisition, with a pro forma year-over-year decline of approximately 7% for the full quarter. The company also highlighted ongoing integration efforts, with $16 million in acquisition-related costs, $16 million in impairment of intangible assets, and $7 million in restructuring charges recorded in the quarter.

Successful Merger and Integration

Outbrain and Teads merged on February 3, forming the new Teads. The company achieved significant milestones in integration, with 90% of headcount-related synergies actioned and a focus on achieving $60 million in annualized cost savings by 2026.

Strong Financial Performance

Revenue in Q1 was approximately $286 million, reflecting an increase of 32% year over year on an as-reported basis. Ex-TAC gross profit in the quarter was $103.1 million, an increase of 98% year over year.

Growth in CTV Revenue

CTV revenue grew over 50% year over year, now representing approximately 5% of total ad spend, with access to more than 300 million TV screens globally.

Positive Client Engagement

The company closed Q1 with over 50 Joint Business Partnerships (JBPs) including new commitments with Ferrero, Halion, Philip Morris International, and Beiersdorf. More than 500 advertisers are spending at least $500,000 annually on the platform.

Outbrain (OB) Earnings, Revenues Date & History

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OB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 07, 2025	2025 (Q2)	-0.04 / -	0.006	―	―	―
May 09, 2025	2025 (Q1)	-0.13 / -0.20	-0.119	-68.07% (-0.08)	―
Feb 27, 2025	2024 (Q4)	0.08 / 0.07	0.09	-22.22% (-0.02)	―
Nov 07, 2024	2024 (Q3)	0.03 / 0.11	0.01	1000.00% (+0.10)	―
Aug 08, 2024	2024 (Q2)	-0.06 / <0.01	-0.08	107.50% (+0.09)	―
May 09, 2024	2024 (Q1)	-0.13 / -0.12	-0.09	-32.22% (-0.03)	―
Feb 29, 2024	2023 (Q4)	0.09 / 0.09	-0.14	164.29% (+0.23)	―
Nov 07, 2023	2023 (Q3)	-0.01 / 0.01	-0.1	110.00% (+0.11)	―
Aug 08, 2023	2023 (Q2)	-0.12 / -0.08	-0.19	57.89% (+0.11)	―
May 09, 2023	2023 (Q1)	-0.13 / -0.09	-0.002	-4400.00% (-0.09)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

OB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 09, 2025	$3.53	$3.46	-1.98%
Feb 27, 2025	$5.44	$5.26	-3.31%
Nov 07, 2024	$4.76	$5.07	+6.51%
Aug 08, 2024	$4.84	$4.86	+0.41%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.