Outbrain reports Q1 EPS (10c), consensus (13c)

Reports Q1 revenue $217.0M, consensus $220.96M. “We’re pleased to announce that in the first quarter of 2024 we executed on our strategy to provide a true cross-funnel advertising platform to service the $100 billion Open Internet advertising market. We saw strong participation of brand and agency spend on our platform, including our Onyx brand-building solution,” said David Kostman, CEO. “In addition, we continue to see solid premium publisher logo retention and new wins while expanding our supply partnerships beyond traditional web publishing. We are making strategic investments while managing to positive cash flow. We believe we are well positioned to return to growth and higher profitability delivering on our 2024 and 2025 targets.”