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DATE
Wednesday, May 13, 2026 at 9:00 a.m. ET
CALL PARTICIPANTS
- Chief Executive Officer — Ofer Druker
- Chief Financial Officer — Sagi Niri
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TAKEAWAYS
- Contribution ex-TAC — $84.5 million, reflecting a 13% increase year over year, and establishing a new first-quarter record.
- Programmatic Revenue — $81.9 million, up 14% year over year, reaching an all-time Q1 high.
- CTVIDAA Revenue — $29.4 million, representing 12% year-over-year growth and a return to segment growth in the period.
- Mobile Revenue — Increased 18% year over year, with management referencing ongoing acceleration.
- Desktop Revenue — Increased 3% year over year, cited as incremental to overall channel performance.
- Data Products Contribution ex-TAC — Up 81% year over year, indicating significant growth in data-driven monetization.
- Display Contribution ex-TAC — Rose 57% year over year, contributing to overall programmatic strength.
- PMPs Contribution ex-TAC — Decreased 17% year over year, noted as a weaker subcategory within programmatic operations.
- Non-programmatic Business Lines — Declined by approximately $560,000 year over year, with the education vertical described as “soft.”
- Adjusted EBITDA — $16.3 million, translating to a 19% margin of contribution ex-TAC and surpassing Wall Street consensus.
- Net Cash Used in Operations — $21 million, in contrast to $19.3 million generated in the same quarter of the previous year, with the shift attributed to working capital changes and strategic investments.
- Cash Position — $94.6 million in cash and cash equivalents at quarter-end, no long-term debt, and $50 million available on a revolving credit line.
- Non-IFRS Diluted EPS — $0.06, compared to $0.16 in the same period last year, reflecting a decline despite operational growth.
- Share Repurchase Activity — 1.1 million shares repurchased during the quarter at a total cost of $7.2 million, and authorization to initiate a…