Innovid reports Q3 EPS (2c), consensus (1c)

Reports Q3 revenue $36.2M, consensus $35.4M. “I am pleased to report we delivered a strong third quarter – exceeding our prior guidance for both revenue and Adjusted EBITDA, positioning us to raise our full year guidance,” said Zvika Netter, Co-Founder and CEO. “Importantly, we significantly increased Adjusted EBITDA margins to 18%, up from 8% in the prior year period and we generated $4.1M in positive Free Cash Flow* this quarter. Our Q3 results are evidence of our increased operational efficiency and our focus on profitable growth. Looking ahead, we are optimistic about future growth and our ability to expand our moat as a leader in building critical technology for the future of TV advertising.”