Financial EstimatesEstimates are lowered, projecting 2025 revenue to $100.0M, up 19% y/y, from $106.0M, and adjusted EBITDA estimate to a loss of ($2.9M), from +$1.0M.
Gross MarginGross margin of 75.4% contracted 360bps largely due to changes in product and ad-format mix.
Gross Margin PressureGross margin continues to be negatively impacted near term by pressure from new customer campaigns, a continuation of trends recognized during 1Q25.