Teads Holding (852) Q2 2026 Earnings Report

The call communicated clear strategic positives—strong CTV momentum (67% YoY growth to ~$40M), accelerating Enterprise traction ($89M ex-TAC, positive May/June advertiser spend), product launches (EngageOS) and disciplined quality actions—while also disclosing material near-term weaknesses: total revenue down 17% YoY, ex-TAC gross profit down 14% YoY, a severe 30% decline in Direct Response & SME, an adjusted EBITDA miss, and suspension of guidance. Management plans continued investment behind higher-margin Enterprise and CTV growth and expects cost step-downs in Q3, but the DR/SME secular headwinds and temporary expense pressures create meaningful near-term uncertainty.

Management said it was suspending forward guidance (including prior full‑year 2026 EBITDA guidance) while outlining expectations and key metrics: Q2 ex‑TAC gross profit was $123M (down 14% YoY) comprised of $89M from Enterprise and $34M from Direct Response/SME (down 30% YoY); revenue was ≈$285M (down 17% YoY); adjusted EBITDA ≈$7M; free cash flow $3M; cash and marketable securities $91M with $40M available on the revolver; CTV revenue grew 67% YoY to ≈$40M and represented 13% of Q2 revenue (vs 7% in Q2‑2025) with >500M home screens globally; omnichannel branding customers were 16% of Q2 branding revenue (vs 9% a year ago) approaching an 18% full‑year target; management expects mid‑single‑digit ex‑TAC growth in H2 for the Enterprise segment with acceleration into 2027, noted May/June showed positive YoY Enterprise advertiser spend, and said costs should step down in Q3 as they continue to invest in Enterprise.