OB - Outbrain Non-GAAP EPS of -$0.19 misses by $0.15 revenue of $250.9M beats by $4.47M

• Outbrain press release ( NASDAQ: OB ): Q2 Non-GAAP EPS of -$0.19 misses by $0.15 .
• Revenue of $250.9M (+1.5% Y/Y) beats by $4.47M .
• Ex-TAC gross profit decreased 11% year over year to $59.3 million, compared to $66.8 million
• Adjusted EBITDA of $5.9 million compared to $24.6 million in the prior year, reflecting lower Ex-TAC gross profit and increased operating expenses. Adjusted EBITDA included net favorable foreign currency effects of approximately $0.7 million.
• Guidance:

• For the full year ended December 31, 2022, we expect:

  • Ex-TAC gross profit of at least $228 million
  • Adjusted EBITDA of at least $18 million
• For the third quarter ending September 30, 2022, we expect:
• • Ex-TAC gross profit of $48 million to $52 million
  • Adjusted EBITDA of breakeven to $(4) million

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