Taboola sees FY24 adjusted EBITDA ‘at least’ $200M, $100M free cash flow

2024 guidance assumes investments will pay off: at least $200M adjusted EBITDA, at least $100M free cash flow. "While 2022 was a challenging year for advertising spend, our financial performance was solid. It was our second best year in adding new publisher partnerships – over 90% higher in new revenue per month than in previous years, including winning back some key publishers that previously left us. And of course, we signed a transformative 30-year partnership with Yahoo," said Adam Singolda, CEO and Founder, Taboola. "2023 will be a year of investment for us. It’s hard to accept declines this year; we will return to growth in the second half of 2023 and, while it’s very rare that management teams know what the future will look like, 2024 will be a step change in revenue with Yahoo ramping. In 2024, we expect to generate at least $200M in Adjusted EBITDA and $100M in Free Cash Flow, even though it will be a partial year of Yahoo. I’m also energized by the progress we are making on our top company priorities of performance advertising, eCommerce and header bidding – these will drive significant growth in 2024 and beyond. I believe in 2024, Taboola will become the largest open web advertising company in the world by revenue, with scale similar to Snap, Pinterest and Twitter," continued Singolda.