CTV - Innovid reports mixed Q1 earnings; initiates Q2 and updates FY23 outlook
2023-05-09 08:08:19 ET
- Innovid press release ( NYSE: CTV ): Q1 GAAP EPS of -$0.06 misses by $0.01 .
- Revenue of $30.5M (+17.8% Y/Y) beats by $0.4M .
- Adjusted EBITDA increased to $0.1 million, compared to $(3.0) million for the same period in 2022.
- Cash and cash equivalents as of March 31, 2023 were $45.0 million.
- Innovid is providing the following financial guidance for Q2 and full year 2023 : Q2 2023 Revenue in a range between $31 million and $33 million vs. consensus of $31.95M.
- Q2 2023 Adjusted EBITDA in a range between $0 and $2 million.
- FY 2023 Revenue slightly higher than FY 2022 vs. consensus of $130.68M.
- FY 2023 Adjusted EBITDA positive for the full year, Adjusted EBITDA margin of at least 5% for the full year.
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Innovid reports mixed Q1 earnings; initiates Q2 and updates FY23 outlook