Teads Holding (TEAD)
NASDAQ:TEAD
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Teads Holding
(NASDAQ:TEAD)
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Rating:49Neutral
Price Target:
$0.92
▲(25.62% Upside)
Action:ReiteratedDate:04/26/26
The score is primarily constrained by weak financial performance: heavy losses, sharply higher leverage, and deteriorating cash generation. Technicals are modestly supportive in the near term (price above key short-term averages with positive MACD) but look stretched (high Stoch). Earnings-call guidance and restructuring savings provide a partial offset, though near-term revenue headwinds and a high-cost debt load keep risk elevated.
Positive Factors
CTV revenue momentum
Sustained CTV growth builds durable access to higher-engagement, premium inventory and diversifies revenue away from legacy web inventory. Large addressable TVs and outsized CTV growth support longer-term advertiser budget shifts to streaming, helping revenue mix and gross margins over multiple quarters.
Negative Factors
Very high leverage and thin equity
A steep leverage step-up with limited equity cushion materially increases refinancing and solvency risk. Large principal and a 10% coupon restrict financial flexibility, magnify interest expense sensitivity to revenue shocks, and constrain strategic options including investment, M&A, or opportunistic capex over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
CTV revenue momentum
Sustained CTV growth builds durable access to higher-engagement, premium inventory and diversifies revenue away from legacy web inventory. Large addressable TVs and outsized CTV growth support longer-term advertiser budget shifts to streaming, helping revenue mix and gross margins over multiple quarters.
Read all positive factors
Teads Holding (TEAD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$89.50M
Dividend YieldN/A
Average Volume (3M)373.90K
Price to Earnings (P/E)―
Beta (1Y)1.64
Revenue Growth46.14%
EPS Growth-37083.89%
CountryUS
Employees1,800
SectorCommunication Services
Sector Strength97
IndustrySoftware - Application
Share Statistics
EPS (TTM)-5.94
Shares Outstanding96,991,430
10 Day Avg. Volume186,499
30 Day Avg. Volume373,902
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.67
Price to Sales (P/S)0.05
P/FCF Ratio-6.70
Enterprise Value/Market Cap6.78
Enterprise Value/Revenue0.47
Enterprise Value/Gross Profit1.41
Enterprise Value/Ebitda78.48
Forecast
1Y Price Target
$1.00Price Target Upside36.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.72
Revenue Forecast (FY)$1.26B
Teads Holding Business Overview & Revenue Model
Company Description
Teads Holding Co., together with its subsidiaries, operates a technology platform that connects media owners and advertisers with engaged audiences to drive business outcomes in the United States, Europe, the Middle East, Africa, and international...
How the Company Makes Money
Teads Holding generates revenue primarily through its programmatic advertising platform, which connects advertisers with premium publishers and helps them place ads within editorial content in a non-intrusive manner. Key revenue streams include fe...
Teads Holding Earnings Call Summary
Earnings Call Date:Mar 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Neutral
The call conveyed a balanced message: clear operational and product progress (notably strong CTV momentum, enterprise cross-sell acceleration, partnership expansions, AI-enabled product improvements, and achievement of profitability targets in Q4) contrasted with material near-term challenges (pro forma revenue and gross profit declines, a $350M non-cash goodwill impairment, deliberate revenue trimming causing an estimated $20M ex-TAC headwind in 2026, modest free cash flow, and a sizable 10% coupon long-term debt load). Management expects the restructuring and strategic focus to drive cost savings ($35M–$40M annually) and a return to growth by Q4 2026, but execution risk and capital structure pressure keep the outlook cautious in the near term.Positive Updates
Met Guidance and Profitability Progress
Hit the high end of Q4 guidance for ex-TAC gross profit and exceeded adjusted EBITDA targets; Q4 adjusted EBITDA was $37,000,000 and the company generated positive adjusted free cash flow of approximately $3,000,000 in Q4 (≈$6,000,000 for the full year).
Negative Updates
Pro Forma Revenue and Gross Profit Declines
Reported Q4 revenue of ~$352,000,000 (up 50% as-reported driven by acquisition) but on a pro forma basis Q4 revenue declined 17% year-over-year; ex-TAC gross profit was $152,000,000 (up 122% as-reported) but down 19% on a pro forma basis.
Read all updates
Q4-2025 Updates
Positive
Negative
Met Guidance and Profitability Progress
Hit the high end of Q4 guidance for ex-TAC gross profit and exceeded adjusted EBITDA targets; Q4 adjusted EBITDA was $37,000,000 and the company generated positive adjusted free cash flow of approximately $3,000,000 in Q4 (≈$6,000,000 for the full year).
Read all positive updates
Company Guidance
The company guided Q1 2026 ex‑TAC gross profit of $102–106M and adjusted EBITDA of breakeven to $3M, and reiterated full‑year 2026 adjusted EBITDA of ~$100M (which could cause a small use of cash though management sees opportunities to generate positive free cash flow). Management noted a ~$20M ex‑TAC year‑over‑year headwind in 2026 (mostly in H1), with roughly an $8M hit that affected Q4 2025 and is expected to impact Q1 and Q2 before phasing down into Q3–Q4 as comps ease and growth returns (management expects to be back to top‑line growth by Q4 2026). For context, Q4 revenue was about $352M (+50% as‑reported, -17% pro forma), Q4 ex‑TAC gross profit was $152M (+122% as‑reported, -19% pro forma), Q4 adjusted EBITDA was $37M, adjusted free cash flow was ~$3M in Q4 and $6M for the year; the company ended Q4 with $139M cash, €15M (~$17.5M) overdraft, $628M of long‑term debt at 10% due 2030, recorded a ~$350M goodwill impairment, took $6M of restructuring charges and expects ~$35–40M in annual run‑rate savings from the December restructuring.Teads Holding Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
15
Very Negative
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.30B | 889.88M | 935.82M | 992.08M | 1.02B |
| Gross Profit | 429.05M | 192.10M | 184.80M | 192.65M | 240.26M |
| EBITDA | -15.99M | 24.83M | 42.45M | 15.97M | 11.98M |
| Net Income | -517.07M | -711.00K | 10.24M | -24.58M | 10.99M |
Balance Sheet | |||||
| Total Assets | 1.33B | 549.21M | 664.64M | 781.15M | 795.89M |
| Cash, Cash Equivalents and Short-Term Investments | 138.70M | 166.13M | 165.20M | 272.49M | 455.40M |
| Total Debt | 644.38M | 15.82M | 130.90M | 247.68M | 239.07M |
| Total Liabilities | 1.23B | 317.87M | 441.57M | 563.36M | 539.12M |
| Stockholders Equity | 95.44M | 231.34M | 223.06M | 217.79M | 256.77M |
Cash Flow | |||||
| Free Cash Flow | -9.54M | 51.27M | -6.49M | -22.13M | 36.71M |
| Operating Cash Flow | 7.61M | 68.56M | 13.75M | 3.81M | 56.76M |
| Investing Cash Flow | -554.18M | 67.15M | 69.64M | -317.90M | -20.10M |
| Financing Cash Flow | 585.34M | -117.70M | -117.07M | -31.70M | 325.89M |
Teads Holding Technical Analysis
Positive
0.73
Price Trends
0.73
Positive
0.71
Positive
1.26
Negative
Market Momentum
>-0.01
Negative
54.40
Neutral
95.75
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TEAD, the sentiment is Positive. The current price of 0.73 is above the 20-day moving average (MA) of 0.68, above the 50-day MA of 0.73, and below the 200-day MA of 1.26, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.40 is Neutral, neither overbought nor oversold. The STOCH value of 95.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TEAD.
Teads Holding Risk Analysis
Teads Holding disclosed 59 risk factors in its most recent earnings report. Teads Holding reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Teads Holding Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $729.83M | 5.99 | 19.72% | ― | 19.00% | 255.32% | |
67 Neutral | $2.53B | 30.86 | 60.60% | ― | 27.64% | ― | |
64 Neutral | $478.42M | 15.46 | -5.64% | ― | -2.86% | -216.06% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $405.56M | -15.56 | -22.88% | ― | 12.72% | 32.06% | |
59 Neutral | $554.31M | -0.19 | -106.91% | ― | -9.89% | -26.49% | |
49 Neutral | $89.50M | -0.04 | -127.56% | ― | 46.14% | -37083.89% |
* Communication Services Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.