🔹 Revenue: $694M (Est. $684M) 🟢; UP +19% YoY
🔹 Adj. EPS: $0.41 (Est. $0.42) 🔴; UP +5% YoY
🔸 Appointed Alex Kayyal as CFO
Guidance – Q3’25
🔹 Revenue: At least $717M (Est. $718M) 🟡
🔹 Adj. EBITDA: ~$277M
Other Q2 Metrics:
🔹 Adj. EBITDA: $271M; UP +12% YoY
🔹 Adj. EBITDA Margin: 39%; DOWN -200 bps YoY
🔹 Net Income: $90M; UP +6% YoY
🔹 Customer Retention: >95% (11th consecutive year)
Strategic & Operational Updates
🔸 Appointed Alex Kayyal as CFO, effective Aug 21; previously at Salesforce & Lightspeed Ventures
🔸 Outgoing CFO Laura Schenkein to remain through year-end as non-exec officer
🔸 Omar Tawakol (BlueKai, Rembrand) joins Board; brings AI & adtech expertise
Platform & Product Innovations
🔸 Kokai AI enhancements driving data-rich ad decisions and 1P data use
🔸 Significant progress in CTV, retail media, OpenPath adoption
🔸 Partnerships: Instacart, Visa (ANZ), Snowflake, Bell Media, Zepto, EDO, NIQ
🔸 New apps: Deal Desk, OpenSincera, Connector App on Snowflake
🔸 UID2 integrations with AppsFlyer, Bell Media, Snowflake
🔸 OpenPath partnerships with Freestar, HOY
Capital Allocation
🔹 Share Buybacks: $261M repurchased in Q2
🔹 Remaining Buyback Authorization: $375M
CEO Commentary – Jeff Green
🔸 “Q2 was a strong quarter...we continue to outpace the digital ad market.”
🔸 “Kokai and OpenPath are unlocking major innovation across the open internet.”
🔸 “We're delivering exceptional value and empowering the world’s largest brands.”
