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Taboola.com Ltd. (TBLA+0.85%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in revenues to $433,012,000 from $360,221,000 in the same quarter the previous year. This increase is attributed to new digital property partners and growth in spend from existing Taboola advertisers.
Gross profit for the quarter was $132,877,000, compared to $100,659,000 in the previous year. Ex-TAC Gross Profit, a non-GAAP measure, increased by 28.5% to $166,405,000.
Operating expenses for the quarter were $128,319,000, up from $119,393,000 in the previous year, with increases in sales and marketing expenses due to higher employee-related costs.
The company reported a net loss of $6,454,000 for the quarter, compared to a net loss of $23,136,000 in the previous year. The improvement is attributed to increased revenues and gross profit.
Cash provided by operating activities was $49,772,000, while cash used in investing and financing activities was $6,908,000 and $62,321,000, respectively.
Taboola had cash and cash equivalents of $217,230,000 as of September 30, 2024. The company continues to focus on expanding its digital property partnerships and advertiser client base.
The filing also details the company's share buyback program, under which it repurchased 15,484,880 shares during the nine months ended September 30, 2024.
Taboola's management discusses the impact of macroeconomic conditions, including inflation and geopolitical events, on its business operations and financial performance.
The company highlights its strategic partnership with Yahoo (VZ+1.15%), which contributed significantly to the revenue growth during the quarter.
Taboola does not anticipate cash dividend payments to common stockholders in the near future.
The filing includes a note on potential risks, including changes in digital advertising regulations and competitive pressures in the industry.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Taboola.com Ltd. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.