OB - Earnings call 3 2023

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Operator

Good day, and welcome to Outbrain Inc.

Third Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder this conference is being recorded.Now I'd like to turn the call over to [indiscernible], Investor Relations. Please go ahead.

Unknown Executive

Good morning, and thank you for joining us on today's conference call to discuss Outbrain third quarter 2023 results.

call Co-CEO, have Jason David the Co-CEO, Co-Founder Kiviat. on Galai; Yaron Kostman; me today, Outbrain we and Joining and CFO,

on the XX-Q Form statements from and our in in in Form of uncertainties During non-GAAP updated duty as forward-looking XXXX, may any are statements. cause Securities we These management discussed Commission.Forward-looking call, to that XX, filed to year statements. reports are Exchange current differ the XX-K These and results such to based factors materially the financial any Today's statements speak and measures. risks with this our assumptions. not date, December forward-looking expectations filed detail subsequent to will subject as ended in undertake actual presentation for and do update our references call's conference also statements make and original only risk includes

contained definitional non-GAAP quarter the third in to company's refer the to measures and should information measures. comparable GAAP information You the financial for reconciliations release earnings of

Our on David. Relations News investors.avg.com under, over let our Events.With the found earnings that, can website, and to me Investor turn release be call

David Kostman

you, Thank Randy.

to stand have the Middle in the on At Outbrain, Israel East. events. recent we First, situation been want with I of touch people by the the who affected

peaceful know to opportunity of you. the hearts in this all suffered so the that many people by to for days We go want all situation. have better Our retrained the thank people impacted that region. horrific are to take and I hope

your unwavering employees in Israel First around and globe our and for the foremost, commitment.

a we to of and XX XXX analysts in have us.From been Israel. reserve support. and an our This the for business duties. perspective, to investors outpouring called partners have employees About approximately operational expressions lot means Our

priorities North continued situation October our top Netanya, and we have the families results have business The to our and the customers. Israel. safety turn and on in We our continuity business centre escalate.Now and located to commitments employees X, to our priority. financial further our well-being in will deliver execute of should Since of on Telaviv of are their business I place offices Our trends. is do pending our

with of by are to within QX. the $XX.X We gross We of resumption growth XXX year-over-year the grew in X% range pleased our guidance. profit million,

our adjusted Our can of be million $XX.X line the to and end guidance discipline. the attributed EBITDA significantly to our high of exceeded growth cost top and

margin. also saw our ex-TAC We improvements in

these from around current environment, seen you will Jason. the revenues of QX, combined early gross concerns remains a war which In trends, situation brands more to terms a macro related in cautious us Middle East, which outlook leads the generally have profit volatile, more certain of spike brand the news In for as safety difficult in October, to ongoing we've with pages, ex-TAC as monetize hear in pages. are type and

market with We we cuts delays have the near-term position with publishers and in also into of advertisers. focus are these campaigns, normal side in on QX excited our launching the going headwinds uptick.Despite experienced than some slower budget resulting and XXXX, seasonal differentiated in premium brand

XXXX foundation engine. Our for leveraging platform and web open this We and revenue strong audience on our results offers further enables total us for and growth growth, full advertisers beyond. provides at AI-driven final scale a with publisher the all prediction believe in

in deliver our core our AI as advertiser been of buying be the for AI has base. across platform the goals advertising features capabilities me native open business. continues web.Yaron touch our conversion in such on growth will automation codeless and advertiser strong click traditionally cost self-serve uses and a to Outbrain QX customer CPA notable that side investments on platforms, in performance the Let to turn acquisition to per

and edge on return advertising. drive to innovate diverse scale fact for performance of to continue We

growing open clients across not amplified SSP more moving We budget effectively only to and of performance are buy additional seeing marketplace. our web with Zemanta on DSP adoption the outgoing

As to Zemanta and platform, a levels have growth in on record spend QX, start on seen of branding launched the Onyx. percent awareness reminder, we the at of a we of XXXX.On mentors and spend the the the front,

Sephora, Our Lancome, new than maximize launch, our and that brand building and many with Nestle more have advertisers Since others. runs AI video, ad XXX the display advertisers. high-impact media These brand we to attention. worked platform leveraging Paramount, include L'Oreal, rich brand user

For utilizing higher we of on beta we many technology outperform combination placements through of drive unique demonstrating are that advertisers, to a and smarter tension these running creative, can incumbent attention. vendors

deliver to attention. results terms consistently We in of continue above-benchmark

The XX% For focus off from with Altria to benchmark.Also shift our video average example, with an switched which Adelaide our versus buses is the on core our rate we component higher see mobile, pay the ads Intelligence higher starting Onyx margins instream of our Video acquisition. we in a leveraging for video is pension offering our segment. high-impact pre-roll, business, display to

advertiser expect awareness We ability the This consumer to offering journey. differentiated Garden, more one of us companies makes to for across of the funnel very future brands. our full our World element both few for drive the growth.Another even be can video objectives beyond is it strategic performance the deliver and

drive has platform objectives to As for audience been years, our an leveraging development. AARP amplified example, performance like many

I advertiser members.These the relationship the said before, build to have engagements expect with us as them the get awareness to larger about slowdown encompass address we excited new of million budget strategy new our potential we advertisers brand business. close Onyx's brand business branding some with to Now the objectives still advertising where Onyx $XX types from help segment $XX million both and year, of Despite existing of we clients. to with that expanded referred to, of in will

Moving the to side. publisher

in globally QX, in [indiscernible] long-term want focus wins to cash generation. the over our driven the Middle to and renewals we discipline elements working global our in of exclusively considering I revenue and single XX the capabilities partner publisher Keystone strong highlight last One, leverage product our as large to the and several feel about To publishers with close we on partnerships our differentiation. several up, are well stations. are the outside portfolio Liquip cautious and drive continue it with continue been of by third, demand; performance currently balanced picking macro have We cost improving current Among a in more premium environment situation flow the but short-term a second, in of a discussions a outlook, we on as ex-premium focus premium for up profitability publisher having momentum publishers XX demand; engaged to to our U.S. the months. beyond East, of decade.We to France, Box and with Germany in sum

are XXXX, acceleration with the to leveraging turn will of We year-over-year pleased strategic Yaron. in in investments.With I that, it resumption expect growth and our further QX over

Yaron Galai

Publisher want to our and added products I people Neopost, to partners there New last David. partners, have come and the to the new call, together expect. colleagues several comments level service our we of great stand and Entrepreneurial customers are continuing Thanks, and Since the David's desk join committed with clearly Israel I Outbrain say, with Keystone overcoming to Magazine, and Republic we've that of others. and all

We During model help revenue on slot. algorithmic through with and its that cost AI. business with is sharing for generative the on Keystone, this covered where front. last this X quarter, accelerate AI more further added publishers' AI we started addition an Keystone options. us ad believe on experimenting will One, updates

deployed of AI have core their conversion our based the using our majority optimization which And strategy algorithms of contains of home-grown AI automates CBS is CBS [indiscernible] as for one ROA.This marketers First, a technology. in current coming this new now are our months. marketing the which pace to our is a This conversion with brand return build When been running for marks ad it or deploying advertiser CBS, our new automatically on planning the to this algorithms ad that accelerate an their campaigns. CBS, known on our quarter, technology the spend, last a can further on advertisers advertisers dedication Using are ROAs. be their stride improve bid functionality, also and maximize CoVis automation we events significantly foundational technology with combined CBS layer, in on conversion layer codeless significant can upon more new the self-serve and layer and automation, will of we've upgrade capabilities, capability.

on Second, generative AI.

Adverity with like is ad the One each AI match algorithms ad the better of more individual have in exciting algorithm. frontiers automation the of our for to And each individual person. variety most Adverity. the we is can index, us our generative

RPM. higher to also ad and which rates Adverity So higher CTR leads in better known matching, results click as to ultimately

our we've capabilities image AI earliest was XX ago in the almost of cropping automated years One built for ads.

areas technology our interest of to auto driver will better for an or focus So years. CTR image. crop on the many image of example, a This been for for has us an faces

with experimenting automatically in with also lab upscaling index generated we're the generative new the growing and AI filling them while will images enable capabilities Now reverse spaces that the content.

upload with for AI the are advertiser, with our might Another a we're an lab identical AI-generated image still early different then XX the capabilities and model technology experimenting with ad faces. these the offer capability say, of R&D X model is face it the creation of, with of testers. variety generative automatically an node can product photo automatic Both variation.Now in in lab R&D

We algorithmic improve which rates encouraging couple help months appeal expect high. the advertising of in among significantly all our these offering our investments and especially continue has boost more the will ultimately light of in ads and environment. been This driving type Anecdotally, generate demand our following AI, past X-year CPRs, weaker recent our click-through of capabilities Adverity, rate. people to of record the to of is

our to Kiviat yield hand results. of rates.And result financial I'll is it that, pricing click-through over our a As for with reminder, time ad a Jason

Jason Kiviat

Yaron. Thanks,

as a a a start for and on strong increase our EBITDA gross adjusted and see as our cycle uncertainties followed profit in the The mentioned. we budgets the of started historically time lift the August quarter we quarter guidance achieved macro ad the last softing largely a demand QX weakening year-over-year geopolitical As David quarter. slight flatter impact driven by July $XXX softer by with perspective, is of in weeks growth, mentioned, expat From as recovery has cost to the usage, the off year, in approximately portion of pattern seasonal trends million, well was on by budget which new than early certain this the exceeded of advertisers' our shown David and QX in year-on-year. of Revenue as guidance. relatively discipline, demand growth before demand based QX partial

revenue is Net retention XX%, New media our partners demand from below reflects approximately on or the percentage in several from publishers the the impact quarter million was of meaningfully X and year-over-year. the up of last yields, retention points headwind revenue which to driving contributed while pricing be the factor of continued XXX%. primary $XX which quarters environment a growth

$XX.X certain gross an of deal media revenue of with has X% standards, noted all driven XX% few on and As low improved was partners the profit performance only logo of last X year-over-year X headwind quarters, that the points revenue and our amounted retention in remained growth, year-over-year, generated net outpacing QX, impact only $XX,XXX of in to primarily our ex-TAC largest by churn by partners combined increase churns mix. for million,

guidance growth the elevated and more our and meaningfully the driving the EBITDA be exercise adjusted down on operating model, Non-comp leverage year-over-year was remains were continue we in for particularly there in expect management our with $XX.X the focused approximately range. meaningful profit, to down to to HX leverage prudence, in in QX, and of focus facing approximately is levels believe million drive as have number expenses, this expenses. around largest component continue on deal in more in of And software in new higher-yielding exercise performance.Moving year-over-year assuming year-over-year higher and operating approximately Notably, the compared year-over-year exceeding debt efficiencies The our As future. flow room we to we million the capitalized of favourable history high gross continues or as as growing we discipline Free displaying from video $X million through Onyx approximately environment expense the flow, XX% we liquidity. as cost our like future.Moving define our from result XX% noted, ongoing customers expansion less were and are of of $XX.X in at we down as compensation-related was which as quarter our costs return products to cash to cash and a activities as decreased demand to continue slightly to will Operating million a quarter. spending. $X bad CapEx this a expenses which pressures be reminder, expenses operations. the cash macro of as go optimizing end environment.As

positive While we elevated QX cash still we see working around to return collections free QX. to remaining pleased capital, flow from are the levels DSO pressures in with particularly on quarter, into

ended Board and the convertible million in company's investments X.X cash, As share fully XXXX. XX, repurchased shares through to $XX.X Year-to-date of with the million repurchase $XX approximately we the equivalents million $XX of $XXX program and debt. executed result, quarter authorized the securities Directors have incremental a million for program, September million. we million balance sheet December, a In in of $XXX marketable cash long-term on

quarter. value an half outlook. nature macro of our the to QX. uplift a in and the demand current seen from of ex spend and the than typical of seen softer levels events continue to it's geopolitical believe below enhance increases continuation the and way conditions.Now market back range assume we that With are weeks in typical to of context, guidance assume QX we've Uncertainty decision QX seasonal wider turning we We what have first for the considerations shareholder we under ad present provided at attractive for to our seasonal the have guidance, our weighted in occur following guidance will historically. In trends

million and operator Q&A. we to million, $XX to million million.Now for back adjusted it $XX We turn $XX expect I'll profit of of gross EBITDA to expect $XX the

Operator

ISI. Thank question [Operator go Evercore you. I'll Instructions] will Shweta session. begin the ahead. question-and-answer First Please Khajuria, be from

Shweta Khajuria

couple a have I please. you, Jason, for

the I Onyx. macro On in said $XX bit quarter, talked little still for fourth could outlook that from a the you're also in last you the quantifying that baking on point of Israel? David to expecting you about colour the please And you from are headwind provide the million on more the $XX magnitude guidance million believe

should we the are a for official And any at the should how quarter headwinds exit guidance, accounted then acceleration guidance? rate? about the about how XXXX growth â€˜XX So in fourth level, for think given that rate without in we, tailwinds high for think and

Jason Kiviat

colour driving a the So yes, maybe I'll more what's just guidance on you give little it. and

many RPMs down model, process, using to seasonality-based to normal as fairly straightforward. what thing It's changes. locked in. we're which out. It's running harder macro pages our and is a long for term, the we're reacting So and Demand forecasting especially is now still. geopolitical date trends, and uncertainties advertisers it be not it in us meaningful seeing the and forecast, very takes may Supply remains to

margins. seasonal we an we trends we've impactful the typical and part that considering ex-TAC than QX, an QX.And in lift in down step on saw seen also we're the where that in demand applying forward, So have first impact does a of that softer project

to what saw. of you just colour maybe we give So kind to

ago, coming versus So correlating or our and October in September, perspective here than our would before be of levels based the with many the -- with softness what the of in think, very forecast saw demand point last years basis softening X% the yields. we we uplift of which weaker saw which war. couple strength saw we onset that we trends more but we've the months I typical see first, September, recovery and last help we've October out July, around course that would trends in provided the low. time. data positive saw to revenue is September.And --which, over August X Maybe X% and we a over really guidance And and even that of of off We those expected months now June demand was seasonal expected a we of grow month, sequentially last the from October, last what building years, of some from relative see on a prior typically X%, with seen is, increase history. a obviously, QX started a in demand did along we spoke X factored in more July then the time demand

been comes attacks drivers. even hard X, to the this maybe the know it to just a before several and in uncertainties. amounts the specific So have do is as that something mix hard things, then of the to to certain did setting we was advertiser negative we reducing was just attribute see It's is headwinds but the budgets delayed that first but geopolitical see which paused So was just due saw Or demand delays start, year to specific month and -- from It's might hard or slow slow, of October budgets, budgets, macro see months if pressure we macro week driver. lot a exactly.We together? also right? kind note

be, higher-yielding affiliates, of more Brent to of with taking brands geographies It of for Germany our pages a softer is do war-related examples, pages supply used affect as the still. be out-stream not their as publishers, couple or David in our and the portion. X percentage some look and -- based, is ones. of higher-yielding segments and being video rates it trend are really European-based but XX U.S. certain of mentioned, a the and related as talking about other take typically attack, STAT And U.S. obviously, significant RPMs a our the it's impacted. than war well. is it largest some And seem maybe meaningful We're to meaningful all XX% our of content safety lower last most pages. XX% to And content you a So following so.And us related remains top and the month a if valuable concerns. just around that at of blocking would this on our at use paid

that a the little hopefully, about Onyx. more expect gives you asked still that We â€¦ think then colour. also I So bit you And do

David Kostman

one. take I'll Yes,

in So is career, and you We're existing Jason I my huge campaigns Onyx of On awareness. haven't specifically, leveraging said. We feedback. We I think seen generally, heard a we tell looking Jason. this level advertising I can than it's also are which at launched markets uncertainty that what performance I volatility mean, from BC impacting XXX from more before to you advertisers, Onyx point. it to cross-sell [indiscernible]. great in both had this new at launched seeing that, drive

we're relatively So about it. significantly very mean excited I see about small the month-over-month. We growing numbers. talked we numbers

So it's exciting.

has stand and we even to significant video we Onyx generally, growth number the final this behind been become a full looking a us drivers So on big Open partner see year.And Web for this year. as company a the for 'XX, move to move into is

in see the Keystone.So relationships also innovation mentioned wallet significant growth through On year. So and These of next moving some we potential we large year. of that the share bear drivers. from see important our also, Performance effort. growth driver efforts broadening of our strategic AI of next the fruit with value the that we publisher is are our that with fruits growing see segments just that. business, for Zemanta will growth to growth these everyone and customers result and an And

I overall, the guidance think margin at sort any those. Jason, haven't that and still think for look to sort we can general we've believe achieve when given growth reports I we add? we of of out But EBITDA anything We the â€˜XX. levels that seen, there, all

Jason Kiviat

No.

Operator

JMP be will Securities. question next Our Ronald,

Ronald Josey

slowed touch $XX It I on to wanted to million. revenue. publisher new

have going How new that's reported we of number you a process approaching more about think And as guys lowest think the company. are deals forward? the public do publisher guys how adding I you content.

Yaron Galai

market, of There pretty and We of growth in had a premium big XX% the year full publishers the focused numbers and lot the were publishers we X XXXX. obviously, last or wins. last last on X large was in obviously about talked We're premium them side double digits from for advertisers. So quarter. new quarters funnel it

calibrating others, something so this not performance on thing expected as time. at and a larger now. really not we quarters, going on environment. demand are focus few stay to was and our it's the X% really into XX% long that on we HX supply partners for for a and than Before a really in linear improving It's level Obviously, current demand, that average some deals

I think X% average time over to good continue is a about. probably to think

Jason Kiviat

position mentioned pipeline. they're competitive we're I about in also and good there. sometimes, is my new pretty excited quarters, these you linear many remarks, not feel certain have potential these prepared we in of the deals. mean I And about what in deals,

helping and on publishers, Onyx that also. the the the think differentiators the market us value are side premium focusing for is I of the of on it vision brings exciting Keystone,

And we total So we but the generate. that depending sort deals, deal, new economics I continue on that. can fluctuate of about think value at margin also look to also When the the we of the will feel impact total market to that at number dollar good the advertisers, situation. look we

So we will for outlook feel competitive it about and but fluctuate. business, position new good

Ronald Josey

any wanted like in relate I are sites. that about new advertising MFAs. the there it quarter to There's seeing? just Or of feels impact guys this concern back in last up that Outbrain? industry for to also made you does Is came how terms that ask

David Kostman

a around coverage been there's this of So topic. lot

sort I the what the advertising. publishers it's think on First, the the statement, drive objective has been is clarified of general is further classify many to just to topic difficult very

want real I them one think I generate reach in audiences for many types an go them having to MFAs, and people will of advertisers, effective cost. to think that all put different value content advertisers they at it's difficult to the of reach of bucket

for ex-TAC specifically, and X% said So generally we previously our of us that's revenues.

is traffic of John's MFAs, generated in that So probably and XX% of saw search. by I it's social you the to XX% driving think terms to significant to traffic driven them report, the not that's

that journalism, all the been and security as other around think on they on have. I as a and quality fraud, premium guidelines Generally, So we journalism focus et company our and of category supporting requested strict also a content our great meet again, world. advertisers the has there's time cetera, as long helping

So vital them. to revenue we provide

So premium too. our our business overall itâ€™s publisher again, part with and of business, combined

Operator

be the B.Riley. And next from will Dan question Day

Daniel Paul Day

strategies I appreciate bidding update AI the there. on the algorithm

uplift have share anything if advertisers points them on spend kind aren't subset you any you in and data these better could that what just or then those. are you maybe an Just been tools them using for in whether using the for to others AI of need spend advertiser and than performance think of maybe tools and increase do there's to that to these that get AI those per using start helps you

be great. So would any thoughts there

Yaron Galai

So across I the is board. which we've deploy other AI for The almost technologies the a splits One AI, into the generative in algorithmic first, X building we been algorithm decade comment the AI, are big as now. And for that us mentioned the buckets. in-house is AI.

half. to on they within results all did all all last advertisers We mention for but the And update we first apply the there system. so, the don't publishers, our quarter time,

click-through-rate call, AI lot to I again, record those that are an And think deployed.On the we've that X%. [indiscernible]. of increase been is the And these of did through that, attributed those changes highs that or seen algorithm on I CTRs. among X-year technologies in a mention the all the mentioned past months AI in terms couple call we've of in I that have we've seen changes this potential couple of

all with doing to trying we said, generative AI live on few really from with are we're them As advertisers. directions. variety a I a attack is What

them been to a stuff generative to all want still through to will offer advertisers. that ultimately is Many were this I to can that, previous even decide them and it's integrations or relates have they acceptance testers. it automatically So other But and to which not.So XXX which they and mentioned to choose. those or to doing event the embedding limited implement ad add Chat tools campaign it, in the The upsizing They really through a the our into GPT especially and of on call, newer the of available that varieties product to upload AI advertiser choose variations, them itself. expand campaign an might up as all creative are available headlines. of as number whether

Daniel Paul Day

Just XXXX, some from there did year-over-year. to beyond revenue take that gross like you guarantee to rate know pressures on turn and deals the rates. minimum If it quickly I take we look were

look guarantees and to whether if that revenue it's is were easy, model assume is to from take would â€˜XX for relative we reason there off gross to to we our 'XX? As take just put just expand think takes together, any rate or other and rate on we there rolling it make flat, minimum anything puts 'XX

Yaron Galai

talked and mentioned not percentage, new higher drive been are some the and -- certainly there's optimizing it portfolio. some the rates you that, couple obviously, of have focus ex-TAC to or that So I really on focused on like of Obviously, some I of don't performance last number the total quarters, scaling we kind these in for quarters take rate which the that. But of and supply our rates supply dollars specific of anything a coming down up. kind was especially always about we've up, when actually and take of as things before come we when deal we've the had come existing success the rates there.

serving gets a in could better.So of a It one audience factor focus the and that factor kind and/or and our in as do several AI takes a to be positive thing quarter. even optimizing we optimizing to of typically learning appoint on partners both It's well. feel or them better continue is things main time the a of quarters. manually that. the But mix always negative do, we given We

of it see things some hard as obviously, Onyx and on video well. say, the that it's with also the and doing listers demand expansion we of So forward environment we're to margin depends the as going

So back up. obviously, drive to goal is our it

Operator

Instructions]. [Operation

question Citigroup. of Ygal Arounian from will Next be

Ygal Arounian

And well. maybe maybe Onyx, on on if expected. expand you know doing what better little ramping bit. and impact brand budgets Just seeing seeing a looks but on towards specifically feels the Onyx, is I it's that maybe than not more geared you're it that on could that one brand It you're

some Just be current of helpful macro in takes is the understand. as the puts that around and launch to would

David Kostman

So Onyx it's a been [indiscernible] launch. said, in successful launched I

very us X quite it full the big hold value that is with a where helped the dialogues companies can in broaden proposition offer and way out So position web. we really company, offering branding open a the think funnel we in the different unique

to formats performance work from are up awareness. different and format. with than we native our consideration brands traditional So The

to in better take and So time. focused we it impact to remaining primarily budgets relevant in-stream on video pushing them brands brands Number I and the of that existing it's normally of our video, those from next studio, of QX, relies where work and end. wise, intelligence QX, on high is video display launched help into lot creatives more that when ties brand acquisition these and ahead impact have more campaigns.We on determined us the generate levels we attention a really for are mean,

part pages see and use Current example, generally the is budgets it's back brand mentioned, comfortable behind volatile. million very is We of So our that. pipeline, a on pulling very was we not from, QX in is to macro relatively environment its what the We strong. general range. broad Jason the very were about growth, still related environment we we're conservative on as what assumptions impact feel tracking helpful $XX for month-over-month $XX the spend we of think million very

we're it we're growth proposition whole So us very guidance When value about of market a the our for really it our the we into changes we're the XXXX. that in it. that us talking together to for QX. positioning on go about at account for when and advertisers, But look driver next video strategically, taking in excited significant sort

Ygal Arounian

unchanged EBITDA And challenges in was profitability quarter. terms in for essentially last it the the the Jason, where outlook given from macro, and of

more ahead maybe progress. So feel tracking bit making there, like you're a little

cost you're management for year how update us Just EBITDA our of free around cash human of thoughts we and kind work give flow an XXXX. on rest through way as and this the your expecting

Jason Kiviat

been control, effectively and is what this we've a more that. operating more more Obviously, on we focused all can which and year having just lot very automation efficiently, team a of of

environment been flow the driving We on positive even on it cash are and what's outlook top the in limiting to quarter actuals line with this the improving the headwinds stay positive and to course grow we've year, the even to QX. Obviously, so as return of and over to expect did positive the our cash goal. expenses And in And effectively on can. generating there, still do we and efficient is next expect generate to year, obviously, nothing going as short but to our and the cash get now, plans we obviously make as in cash we have, positive as mentality which run flow happen share XXXX, the but that's continuing to as QX. for in term to to we we in

Operator

to This for I'd concludes call remarks. session. over our question-and-answer to back like turn closing the management

Yaron Galai

quarter. you in Until of in again We appreciate with and operator. piece the people Thanks, to end to wish speedy next all colleagues we our to and the updating in forward a look friends we region. Israel then, the hospitals the your war, return time and today, us

Operator

conference for presentation. The today's is concluded. Thank you attending now

You may now disconnect.

Outbrain (OB) 7 Nov 232023 Q3 Earnings call transcript