Algorithm ImpactGoogle’s March algorithm changes resulted in pressure on their audience size, with MAUs declining 25.7% y/y to 90.5M.
ProfitabilityThe EBITDA margin is down to 30% from 42% in Q2/24, due to increased investments in AI and traffic diversification, and lower revenues.
Revenue DeclineThe 13% y/y top-line decline was driven mainly by lower MAUs compared to a record-high base in the prior year, impacted programmatic advertising.