In This Story
Zeta Global Holdings Corp. (ZETA-6.60%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports revenues of $268,295,000 for the quarter, reflecting a 42% increase from $188,984,000 in the same quarter the previous year. This increase is attributed to higher usage of the platform among existing customers and new customer acquisitions.
Cost of revenues (excluding depreciation and amortization) was $105,652,000, representing 39% of sales, compared to 39% in the same quarter of the previous year. The increase in cost is primarily due to higher media costs related to incremental revenues.
The company reported a net loss of $17,375,000 for the quarter, compared to a net loss of $43,086,000 in the previous year. The improvement in net loss is attributed to increased revenues.
General and administrative expenses were $50,494,000, a slight decrease from $50,706,000 in the previous year, primarily due to lower stock-based compensation and professional services fees.
Selling and marketing expenses increased to $84,548,000 from $70,669,000, driven by higher employee-related costs and sales and marketing-related expenses.
Research and development expenses increased to $22,807,000 from $18,062,000, primarily due to increased employee-related costs and consulting fees.
Depreciation and amortization expenses were $12,590,000, a decrease from $13,233,000 in the previous year, primarily due to lower depreciation expense related to website and software development costs.
Acquisition-related expenses were $4,583,000, primarily related to the acquisition of LiveIntent, Inc., which was completed on October 21, 2024.
Interest expense decreased to $1,945,000 from $2,894,000, primarily due to higher interest income earned on money market accounts and short-term deposits.
Other expenses increased to $2,851,000 from $2,436,000, primarily due to an increase in the fair value of acquisition-related liabilities.
Zeta Global Holdings Corp. completed an underwritten public offering of its Class A common stock, raising net proceeds of approximately $228,946,000, intended for general corporate purposes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Zeta Global Holdings Corp. Class A quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.