- Since my last article on ironSource was published in April 2022, markets have continued to tumble, with ironSource falling 34% in the past month.
- ironSource beat their Q1 guidance for both revenue and adjusted EBITDA, with revenues growing an impressive 58% YoY.
- The company reported another quarter of world-class retention rates, with 99% gross retention and 153% net revenue retention.
- IS downgraded 2022 guidance, but this was due to a broader macroeconomic and industry-specific slowdown, rather than issues specifically related to ironSource.
- ironSource generates free cash flow, has a fortress balance sheet, and trades on an attractive valuation multiple of 3.1x forward EV/sales and 10.2x forward adjusted EBITDA.
For further details see:
ironSource: Compelling Valuation For Long-Term Investors