Innovid reports Q2 EPS (14c), consensus (3c)

Reports Q2 revenue $34.5M, consensus $32M. Cash and cash equivalents as of June 30 were $43.4M. “We exceeded our guidance for the second quarter, and delivered strong results fueled by CTV and measurement growth,” said Zvika Netter, Co-Founder and CEO. “Our dedication to driving profitable growth this quarter resulted in double-digit Adjusted EBITDA margins and a raised FY23 outlook. As our core products drive robust margins, our execution resulted in a significant flow through of incremental revenue to the bottom line. Innovid continues to benefit from the shift from linear TV to CTV. We are having a great deal of success adding new customers and are focused on deepening our relationships with customers to activate more products. We remain confident in our position as a clear leader in building critical technology infrastructure for the future of TV advertising, and specifically CTV.”