Q1 2024 Zeta Global Holdings Corp Earnings Call Transcript
Key Points
- Zeta Global Holdings Corp (ZETA) reported a strong start to 2024 with a 24% year-over-year revenue increase to $195 million in Q1.
- Adjusted EBITDA for Q1 rose 27% year-over-year to $30.5 million, with a margin expansion of 40 basis points to 15.6%.
- The company raised its full-year 2024 revenue guidance by $25 million to $900 million, reflecting confidence in continued growth and market momentum.
- Zeta Global Holdings Corp (ZETA) launched over 300 virtual agents through its generative intelligent agent Composer store, enhancing platform capabilities and customer engagement.
- The company was certified as a Great Place to Work in both the United States and India, highlighting its strong corporate culture and employee satisfaction.
- Despite strong growth, the direct revenue mix decreased to 67% in Q1, which may indicate a shift towards lower-margin integrated channels.
- The company's cost of revenue increased by 490 basis points year-over-year to 39.4%, although it showed an 80 basis point improvement quarter-to-quarter.
- Zeta Global Holdings Corp (ZETA) reported a GAAP net loss of $40 million in Q1, influenced by $53 million of stock-based compensation.
- Political candidate revenue guidance remains unchanged despite the overall increase in revenue guidance, suggesting potential uncertainty in this segment.
- The company's free cash flow guidance was not raised, with the only gating factor being the timing of collections from newer agency customers.
Greetings and welcome to the data first quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce Scott Smith, Senior Vice President of Investor Relations. Thank you. You may begin.
Thank you, operator. Hello, everyone, and thank you for joining us for Zoetis First Quarter 2024 conference call. Today's presentation and earnings release are available on Dana's Investor Relations website at investors dot dash global.com, where you will also find links to our SEC filings, along with other information about data.
Joining me on the call today are David Steinberg, data's Co-Founder, Chairman and Chief Executive Officer, and Chris Greiner, Zedge's Chief Financial Officer.
Before we begin, I'd like to remind everyone that statements made on this call as well as in the presentation and earnings release contain forward-looking statements regarding our financial outlook, business plans and objectives and other
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