Q2 2024 Innovid Corp Earnings Call Transcript
Key Points
- Innovid Corp (CTV) reported a 10% year-over-year revenue growth in Q2 2024, reaching $38 million.
- Adjusted EBITDA increased by 29% to $5.9 million, with an improved margin of 15.5%, up from 13% in the previous year.
- The company launched the Harmony initiative, including Harmony Direct and Harmony Frequency, aimed at optimizing CTV advertising and improving efficiency.
- Innovid Corp (CTV) announced a strategic collaboration with Nielsen to enhance cross-media ad measurement, strengthening its market position.
- The company expanded its client base with new partnerships, including notable brands like WNBA, Eli Lilly, and Amazon, showcasing its growing influence in the industry.
- Despite revenue growth, Innovid Corp (CTV) reported a net loss of $10.5 million for Q2 2024.
- The macroeconomic environment remains uncertain, with potential impacts from the US election cycle affecting future performance.
- Desktop video volume decreased by 9%, indicating challenges in certain segments of the business.
- Retail was identified as a weak vertical in Q2, reflecting broader macroeconomic challenges in the sector.
- The company anticipates continued uncertainty in the second half of 2024, which could impact revenue growth and market dynamics.
Greetings, and welcome to the Innovid Q2 2024 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Lauren Hartman. Thank you. You may begin.
Thank you, operator.
Before we begin, I'll remind you that today's call may contain forward-looking statements and that the forward-looking statement disclaimer included in today's earnings release available on our Investor Relations page also pertains to this call. These forward-looking statements may include, without limitation, predictions, expectations, targets or estimates regarding our anticipated financial performance, business plans and objectives, future events and developments, changes in our business, competitive landscape, technological or regulatory environment and other factors could cause actual results to differ materially from those expressed by our forward-looking statements made today. Our historical results are not necessarily indicative of future
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