TBLA - Taboola announces cost restructuring program expects to cut opex by $50M
- Taboola ( NASDAQ: TBLA ) on Tuesday announced a cost restructuring program to ensure profitable growth and free cash flow in 2023 and beyond.
- TBLA expects this program to reduce operating expenses by $50M in 2023, with a significant portion translating to improved adj. EBITDA and free cash flow.
- The program includes restructuring teams primarily in lower priority activities, which will result in ~6% overall reduction of global headcount.
- TBLA will trim an additional $23M from 2023 discretionary expense budgets and reduce capex by an additional $15M in 2023.
- The program is expected to be largely completed by year-end.
- TBLA also reaffirmed its Q3 guidance and projected over $152M in 2022 adj. EBITDA.
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Taboola announces cost restructuring program, expects to cut opex by $50M