Q2 2024 Integral Ad Science Holding Corp Earnings Call Transcript
Key Points
- Integral Ad Science Holding Corp (IAS) reported a 14% increase in total revenue for Q2 2024, exceeding their prior outlook.
- Adjusted EBITDA increased to $46.2 million with a 36% margin, surpassing expectations.
- IAS secured significant global customer wins, including Orange and Telefonica, enhancing their international footprint.
- The company launched several AI-backed products, including the industry's first deepfake detection offering, meeting high customer demand.
- IAS raised its full-year financial outlook, expecting 14% revenue growth and a 34% adjusted EBITDA margin.
- Despite the positive results, the optimization business has shown some volatility, raising concerns about future visibility.
- The exit of Oracle from the advertising business presents both an opportunity and a challenge, requiring significant resources for transition planning.
- IAS's stock-based compensation expense remains high, impacting overall profitability.
- The company faces increased hosting costs related to their video offerings, which could affect gross profit margins.
- There is a potential risk in the integration and onboarding of new clients from Oracle, which may not fully contribute to revenue until 2025.
Good day and thank you for standing by. Welcome to the IAS Q2 2024 earnings conference call. (Operator Instructions) please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Jonathan Shafer, SVP, Investor Relations with IAS. Please go ahead.
Thank you. Good afternoon and welcome to the IAS 2024 second quarter financial results conference call. I'm joined today by Lisa Utzschneider, CEO; and Tania Secor, CFO.
Before we begin, please note that today's call and prepared remarks contain forward-looking statements. We refer you to the company's filings with the SEC posted on our Investor Relations site at investors.integralads.com. for more details about important risks and uncertainties that could cause actual results to differ materially from our expectations.
We will also refer to non-GAAP measures on today's call. A reconciliation of non-GAAP measures to the most directly
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