TTGT - TechTarget tanks 11% despite Q4 earnings beat guiding above FY22 consensus

TechTarget (NASDAQ:TTGT) -11% despite adjusted EPS of $0.66 topped estimates by $0.02. Net loss was $(0.55), a decrease of 583%, driven by inducement expense of $21.2M relating to the retirement of a portion of our 2025 convertible notes.  Adjusted Revenue grew 71% Y/Y to approximately $78.4 million; GAAP Revenue grew 68% to approximately $77 million. The company ended year with 2,870 customers, with almost 1,300 new customers in 2021. Some new customers were added due to BrightTALK acquisition and due to the introduction of the sales-specific module for Priority Engine. The company had 43 customers spending $1m+ vs. 25 in 2020. Net Annual Revenue Retention Rate of 150% vs. 120% in 2020. As of December 31, 2021, we had approximately $381.7 million in cash, cash equivalents and short-term investments. Q1 2022, Revenue to be between $65 and $67 million vs. $67.76 million consensus. Net income to be between $5 million and $6

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TechTarget tanks 11% despite Q4 earnings beat, guiding above FY22 consensus