Q2 2024 Zeta Global Holdings Corp Earnings Call Transcript
Key Points
- Zeta Global Holdings Corp (ZETA) reported a 33% year-over-year revenue increase to $228 million for Q2 2024, marking the fastest growth rate since going public.
- The company achieved an adjusted EBITDA of $38.5 million, up 44% year-over-year, with an expanded margin of 16.9%.
- Zeta Global Holdings Corp (ZETA) raised its full-year 2024 revenue outlook by $25 million to $925 million, indicating a 27% year-over-year growth.
- The company's AI-driven marketing technology is gaining traction, with significant adoption among enterprises seeking improved productivity and personalized marketing at scale.
- Zeta Global Holdings Corp (ZETA) is leveraging partnerships, such as with Amazon's Bedrock platform, to enhance its AI capabilities and expand its market reach.
- The company's GAAP net loss for Q2 2024 was $28 million, which includes $52 million of stock-based compensation.
- Higher cost of revenue year-over-year, driven by channel mix, including rapid growth in social channels, impacted gross margins.
- Despite strong revenue growth, the company faces challenges in maintaining consistent gross margins due to the mix of direct and integrated revenues.
- The political and advocacy revenue, while increasing, remains a small portion of overall revenue, contributing less than $10 million in Q2.
- Zeta Global Holdings Corp (ZETA) continues to navigate the complexities of sales cycles and customer onboarding, particularly with agency clients, which can impact cash flow timing.
Greetings, and welcome to the Zeta second-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Scott Schmitz, Senior Vice President of Investor Relations. Thank you, Scott. You may begin.
Thank you, operator. Hello, everyone, and thank you for joining us for Zeta's second-quarter 2024 conference call.
Today's presentation and earnings release are available on Zeta's Investor Relations website at investors.zetaglobal.com, where you will also find links to our SEC filings, along with other information about Zeta. Joining me on the call today are David Steinberg, Zeta's Co-Founder, Chairman, and Chief Executive Officer; and Chris Greiner, Zeta'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
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