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Outbrain sees Tead combination generating advertiser spend over $1.7B in 2024

The combined company is expected to generate: Advertiser spend of more than $1.7 billion in 2024E. Adjusted EBITDA of $230 – $250 million based on combined 2024E Adjusted EBITDA of $180 – $190 million plus the impact of $50 – $60 million of year two expected realized synergies. Unlevered free cash flow of more than $150 million in 2024E, when including the impact of year two expected realized synergies.

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