Image source: The Motley Fool.
DATE
Monday, Nov. 9, 2026
CALL PARTICIPANTS
- Co-Founder and CEO – Rajeev Goel
- CFO – Steve Pantelick
TAKEAWAYS
- Revenue — $79.6 million, growing 17% year over year and accelerating for the third consecutive quarter.
- Gross Margin — 70%, reflecting infrastructure optimization and a change in server useful life from three to five years.
- Adjusted EBITDA — $26.0 million, representing a 33% margin and more than doubling year over year.
- CTV Revenue — grew over 30% year over year, reaching 21% of total revenue and led by 40% growth in the Americas.
- Mobile App Revenue — grew nearly 40% year over year, accounting for 27% of total revenue.
- Emerging Revenue Streams — more than doubled year over year to reach 18% of total revenue.
- Activate Buying Activity — grew more than eightfold compared to the previous year, driven by adoption from commerce buyers and independent agencies.
- Agentic Campaigns — 120 fully autonomous campaigns delivered through the platform since Jan. 2, up from 80 in the previous quarter.
- AI-Powered Deals — 14,000 created by publishers to date, automating the packaging and selling of audience inventory.
- Mid-Market DSP Spend — grew more than 40% year over year as buyers utilized platform intelligence for performance.
- Political Revenue — $5.6 million, increasing from $1.1 million in the third quarter of 2025.
- Monetized Impressions — grew 15% year over year, while total gross impressions processed were reduced by 8%.
- Supply Path Optimization — represented 55% of total platform activity.
- Full Year Revenue Guidance — $312 million to $314 million, representing 11% growth at the midpoint.
- Full Year Adjusted EBITDA Guidance — $79 million to $81 million, an increase of 30% year over year at the midpoint.
- Capital Expenditures Guidance — $24 million to $28 million, raised to fund GPU-centric infrastructure.
- Share Repurchase Program — $150 million expansion authorized by the Board through the end of 2028.
- Cash and Marketable Securities –…