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Teads (TEAD) investor relations material
Teads Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Revenue grew 42% year-over-year to $318.8 million in Q3 2025, driven by the acquisition of Legacy Teads and strong CTV performance.
Gross profit more than doubled to $105.7 million, with gross margin rising to 33.2% from 21.8% a year ago.
Net loss was $19.7 million, compared to net income of $6.7 million in Q3 2024, impacted by acquisition/integration costs, restructuring, and impairment charges.
Adjusted EBITDA increased to $19.2 million for Q3, reflecting operational improvements and acquisition synergies.
Strategic restructuring and new leadership in the go-to-market organization aim to accelerate growth and profitability.
Financial highlights
Q3 2025 revenue: $318.8 million (+42% YoY); nine months: $948.2 million (+45% YoY).
Ex-TAC gross profit reached $130.5 million in Q3, up 119% year-over-year, with Ex-TAC gross margin at 41.0%.
Net loss: $19.7 million in Q3; $88.8 million loss for nine months, reflecting integration and restructuring costs.
Adjusted EBITDA: $19.2 million in Q3 (14.7% of Ex-TAC Gross Profit), $56.8 million for nine months.
Cash, cash equivalents, and investments totaled $138.3 million as of September 30, 2025.
Outlook and guidance
Q4 2025 guidance: Ex-TAC gross profit expected between $142 million and $152 million; Adjusted EBITDA between $26 million and $36 million.
Integration of Teads and Outbrain expected to yield further synergies and cost savings, with restructuring plan targeting $40 million in annualized savings.
Management expects continued margin improvement and operational efficiencies in 2026 and beyond.
Visibility remains challenged due to shorter advertiser planning cycles, macro volatility, and ongoing integration challenges.
Detailed three-year outlook and roadmap to be shared at Investor Day in March 2026.
Acquisition's net financial impact on Q3?
Q3 cash burn: What actions address this?
CTV/cross-sell contribution to overall results?
Impact of new cost optimization on 2026 EBITDA?
CTV's contribution to total ad spend by year-end?
Future impact of DSP deemphasis on revenue?
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Q4 202526 Feb, 2026
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Outbrain Inc. is a technology company specializing in content recommendation and digital advertising solutions. The company operates a proprietary platform that connects publishers, advertisers, and audiences by delivering personalized content and advertisements through native ad formats. Outbrain’s platform uses machine learning and data analytics to optimize user engagement and advertising performance. Outbrain is headquartered in New York, New York, and its shares are listed on the NASDAQ.
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