TTGT - TechTarget reports Q1 earnings; initiates Q2 and updates FY23 outlook

2023-05-10 01:04:38 ET

• TechTarget press release ( NASDAQ: TTGT ): Q1 GAAP EPS of $0.06 beats by $0.05 .
• Revenue of $57.1M (-16.2% Y/Y) in-line.
• Adjusted EBITDA decreased 34% to $17.6 million.
• Net income margin was 3%; Adjusted EBITDA Margin was 31%.
• Adjusted Gross Margin was 73%.
• Longer-Term Revenue decreased 19% to $23.2 million, representing 41% of total revenue.
• Cash flow from operations was $18.2 million; Free Cash Flow  was $14.7 million.
• For Q2 2023 , we expect revenue to be between $56.0 million and $58.0 million vs. consensus of $63.16M. We expect Q2 2023 net income to be between $0.3 million and $1.0 million and Adjusted EBITDA to be between $17.0 million and $18.0 million.
• For full year 2023 , we are revising our annual forecast. We expect revenue to be between $225 million and $230 million vs. consensus of $259.19M. We expect net income (loss) to be between $(2.0) million and $1.1 million and Adjusted EBITDA to be between $65.0 million and $70.0 million.

For further details see: