CTV - Earnings call transcript Q2 2024

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Operator

Greetings, and welcome to the Q2, 2024 Earnings Call. At this time, A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. It is now my pleasure to introduce your host, Laura Martin.

Laura Martin

Thank you, operator.

our remind that today's included the earnings available I'll forward-looking may in begin, also release and page statements forward-looking on we you this call that contain today's pertains Before to Relations call. Investor statement disclaimer may developments, statements predictions, limitation, actual business, or expressed landscape, changes our in without estimates and objectives, regulatory expectations, business technological other cause financial our results performance, statements include, materially plans or factors environment future regarding from forward-looking our These by targets anticipated made differ events could and and today. to competitive those forward-looking

Our obligation can of give indicative update required as to historical statements accuracy future we as assurance as forward-looking to them, the except such, not results law. no are by of no performance, assume necessarily our and and

measures, our release they participate today's to in SEC. Hosting and where as addition, margins EBITDA Anthony these will turn the free measures Innovid's be the I corresponding CEO; well over Zvika In measures, financial a and will our the as whom call the of should in call CFO, session. Zvika of to and in our non-GAAP earnings our results. the as be managing substitute Netter, EBITDA, Callini, can GAAP are will in in business available Reconciliations useful our non-GAAP call to found begin. today's filings appropriate, both including addition the We website on Q&A with non-GAAP now not Innovid's Co-Founder GAAP considered adjusted adjusted believe to investors. These cash provide use measures information measures flow. for to and include and

Zvika Netter

strategic growth call. the review and to grew million. guidance. progress the year respect XX% and margin and execute our business the ongoing XX.X%, quarter increased over I'll in the second second in results Officer, our delivered solid and provide QX first EBITDA with Today, to by market. further to in keeps with will our increased EBITDA over call $X.X update of full Tony up deliver driver, welcome, XXXX long-term by another quarter proud improving line financial year-over-year CTV Q&A. targets to year Revenue Financial growth Lauren, second XXXX our the who provide an We're The and then Thanks, momentum the outlook, to of details to XX% to $XX million. our Adjusted initiatives turn grew I'll and from impressions, to regarding double-digit Adjusted our year. margin. in year. Chief everyone, against last XX% our key followed in prior XX% half us on results earnings Callini, we our year full track quarter quarter

and our Our strategic for profitable margin adjusted of ability delivering expansion the EBITDA while invest in demonstrate growth commitment to CTV. innovation also continuing future to

the We new have initiative progress players the Harmony XXXX, beginning our strategic market. of the the made in world-leading launch including and partnerships since of with momentous

the launched Harmony build and digital CTV advertising better of tomorrow. rapidly The created challenges a to some of advertising shared fully we Harmony to initiative [indiscernible] CTV solve in to we biggest future. for and suite. last XXXX, facing quarter, today product As future April We transitions the

and the progress consumers. couple advertising partners. we've carbon for experience CTV in a better emissions Our ROI, seen level reduce control, provide transparency the publishers excited optimize to and at efficiency to months is aim with clients, last infrastructure of great and share and enhance to I'm improve that vision

media of making the helps their path called publisher Harmony The transparent. ensure working introduced more advertisers we increased been Supply early and our have Direct, which Harmony optimization part positive. supply results path, our of towards and a data revenue As helps launch it more product streamlines April, sustainable dollars in from opportunities. go new

of XX% partners increase benefit up data to and working saw improved yield media. a an in Our average X% of

announced PMG, adopter across encouraged initiative. are of acquisition. CTV partners A help is PMG joined and of Alongside address Harmony direct previously rolling Harmony Media Assembly the successful to leaders like forward-thinking early adopting in We ago, its Group are CMI the of announced complexities more industry and Direct more the clients. And now agency Harmony results, the Visio few that we Goodway and the weeks out light Roku, Group. portfolio that and

the first CTV have Harmony to had a addition frequency DSP This advertisers. industry our and In initiative reallocating our to key digital frequency leading Lion Direct, Many underexposed. challenge my where and we attending I discussion buys. had left validated colleagues, industry able of to in for product, June, leaders. publisher topic and each of brands, consistent and and device management have being met audiences Frequency that many We the we include the long-term beta Through harmony specifically among holistic launched general advertisers in market our the our to providers shown this we Festival In remains in manage availability direct DSPs partners. anticipate adopting brand the ad potential by by Cannes household prevent for our initiative platforms, advertising. frequency to or solve spend industry pleasure as especially frequency the audiences both viewing on separately and the fatigue. CTV with to with Until platform. a publisher frequency of entire the led maximize later programmatic experience can and to repeatedly with first the we conversations households Harmony to same under across Harmony We're partners. together DSP and limiting exposed the CTV our the impression The overexposure, media reaffirm efforts key to Yahoo! publishers of strategic the partners ecosystem solution problems improve year. week platform world. of importance now, announced frequency been of last and one ad leading management excited how harmony of for testing see every media moving some budget Advertisers We're server, are today. now with and currently to ads Harmony

To there and strategic strategic shared and collaboration audience to I very coming that global new view were providing we be player seamless as discussions conversations our platform. to expanding and with these about a digital will that are focused of vital Nielsen with its Innovid addition for market conversations the testing am the position in One, a would as Together, universe. growth. will the power I'm in Nielsen, critical technical that infrastructure aim leading the In Innovid a also we holistic to Cannes for the the by workflow that excited Harmony, in encouraged elevated access view workflow, Nielsen holds a position point, new market. a look By with industry many in on enhance we avenues and and the progress. the comprehensive player with you to Nielsen's and forward provide campaigns Nielsen updating industry. together and the aim ad usability of the reinforce months, currency CTV announce the collaborating Earlier of leveraging Innovid our demonstrate integration measurement ad-serving leader morning, we ultimately holistic that essential Innovid of and seamless ad this directly opening provide integrating established all TV greater and for solution, to measurement. a advertising, driving a cross-media ad coverage on position by cross-media

committed investing used Nielsen, addition In collaboration in of by to global which to and remain measurement advertisers this exciting solutions, the publishers. own Innovid's we with leading some are

by evolving more with measurement solution. Harmony, and optimization powered are also our real-time We introducing solutions more

Inc.'s Lilly, brands customer Innovation, Purple our our and would for Burger of Finally, signed why I'm partnership products to such Innovid clients team The for which of world-class expansions committed accomplishments some are on value Company. pleased a from partnerships Eli culture. remain and the Best thank quarter. and the I very list expanded We're Habit across with focused wins Amazon and our Spectrum. with Workplaces for clients XXXX. delivering particularly second work of businesses. am been our balances excited publishers, want without or about We their impact that to as relationship suite on that to all and I leading WNBA, proud named Wonderful is innovation expanded have hard workplace employees recently their share for None growth new was and and Lundbeck, We creating leading driving a these possible

am force progress excited Our change. sustained we to with far driving in momentum. business culture our about very XXXX. made so have has our behind a lead I the pleased industry unique I'm ability been

and received adopted well continues initiative industry Harmony to Our be by leaders.

Innovid's are are underlying secular well CTV benefit positioned to trends in business the strength. and We from confident

double-digit results the expectations. Our track deliver Tony? full second keep on and into and With year us to that, through some QX profitable quarter and us ask take growth XXXX numbers I'll execute the over long provide Tony to insights term. in

Anthony Callini

and morning, Thank you, good Zvi, everyone.

quarter Zvika margin In marks improvement. we're third also quarter shared, of addition basis, performance. cash quarter of of consecutive business the strong and to eighth another adjusted report QX inspiring year-over-year consecutive free to straight EBITDA financial revenue quarter that just the a progress On fourth pleased expansion double-digit growth, of flow

the into dig let's Now numbers.

was that up down $XX further, Second while measurement XX%, X%. quarter revenue revenue revenue ad grew serving to XX% personalization Breaking grew and year-over-year million.

measurement ad for of some QX. As The up continued XX%. as growth revenue, in a in CTV reflects spending shift ad and compared serving the ad to personalization made of to XX% stabilization and last accounted percentage level personalization and while serving

In from the quarter grew XXXX. second ad XX% personalization fact, serving over CTV of revenue and

our a represented second reminder, with video volume ad Innovid's last of quarter and and continue of XX% compared impressions on while volume desktop personalization from by category, by QX. Mobile total video to all transition all increased ad video as than XX% video CTV revenue reflected basis. XX% a X% percentage more and to and impressions grew as in consecutive revenue where XX% personalization decreased this XX% grew platform. both CTV. impression represented of impressions, This by correlates serving volume is ad XX% CTV CTV Within and And served as serving the year-over-year impressions, volume more XX% to impression closely impressions. CTV a through As

impressions consistently continue quarters, desktop the and As have mobile to last over while CTV more grow, we've been inconsistent. few seen

we'd see desktop expect growing X watching all streaming forward, That CTV and similar devices consumers represent predictable. these being said, of to less both trends mobile and with Going applications.

XXXX. grew So as second it's served, quarter the compared overall which the XX% to at look to of in impressions the total also video second helpful quarter

last over growth of measurement a only as platform. grew Moving capabilities in measurement QX. Measurement our to revenue part of ongoing Not revenue key value Innovid measurement. X% consistent The reflects the the did

We QX. grew X% also sequentially from

business measurement revenue business. the than to more As subscription-oriented more our we customer grow ad-serving see over time business, opportunity and base an steadily the committed model is the add to

the anticipate our of expect for third XX-plus revenue measurement second half to second partnership which spending back creative, continued and the double measurement. this the remainder election resumed delivery to as point levels, In the and for of environment we digits in in remain solutions continued the the inconsistent the consecutive data all QX. ability another morning growth for the while others provide of future spending. is performance had advertising uncertainty our midst revenue unique TV revenue catalyst have the we looking for differentiated quarter, to Further, outlook augmented revenue an announced reflected normal CTV overall growth. and U.S. year, verticals in a cycle, by of our positive and quarter combine platform grown XXXX. client be of their is power Nielsen We with We're some Stepping proud at of for have value the macro percent cautious consecutive

of and to costs Now, cost revenue, calculated in out to moving XX% of year. XX% less revenue improving on expenses. from QX last Revenue

Our scales, as to in margins operating the business improve our reflecting continue model. the business leverage embedded

share depreciation, XXXX. excluding totaled this $XX.X into a to Employee and in expect areas We was XXX year. of QX from count creation at a in value continued of for net drive making improved a and share loss $X.X QX a operating loss of long-term $XX.X the with per million, or our catalyst $X.X to committed in strategic expansion. a per improvement QX last was -- $X.XX profitability shares. automation AI as was be XXX for compared more million common last increase base XX% of this and million include million loss offerings, quarter the X% at XXXX. to while our compared generate investments our count quarter we amortization million we was EBITDA total share $X.XX of $XX compares QX increase a outstanding at managing shareholders. margin million, The as an or the Adjusted million impairment, to and close net XXX.X $X.X expenses, million $XX.X of QX and As high-growth end with year. loss remain cost second June end in

strong is operating mentioned revenue year-over-year the margin reflect percentage XX.X% adjusted cost revenue in cash as and a These EBITDA no million eighth in position debt revenues quarter We costs facility. operating the outstanding lower on revolving sustained quarter and and XX% that the grew margin to equivalents compared of our financial nominally as expansion leverage to with earlier, model. QX year. this As inherent balance over ended of I growth, cash our now improved cash this of year, to of improvements consecutive in turn sheet demonstrating I'll past $XX.X as last the balance impact flow. our the prior a and

available to balance, it say XXXX. to the a facility. end cash end another As $XX.X improvement and way, XX% we On compared is million equivalents of as the the QX, XXXX on have net outstanding reminder, hand cash $XX.X debt basis, million less a cash the on that at million QX, revolver of of net at or cash a $XX

over a the cash During period XXXX. of QX, of a cash was an free million, on basis, operating improvement used at activities provided flow net million the June have XX% XXXX. XX, quarter, was flow If trailing XX-month in million, $X ended flow million $X.X cash and a $X.X by $XX seen we cash we free as compared free of look the XX-month improvement to same use

for year provide the Finally, outlook full update quarter for XXXX. and an on our let me touch the third

and We strength committed continue percent annual our adjusted execute confident ability XX-plus business, are way. We of XX-plus long-term the revenue profitable disruption are for financial to of remain environment proud in in revenue EBITDA ability in target percent growth grow underlying an our our and to opportunities to margin. uncertain economic of and a to

earlier, of mentioned election anticipate As in we half current uncertainty by I amplified continued U.S. second XXXX cycle. the the

of and revenue We ongoing quarter today. in reaffirming of some year-over-year In our dynamics, growth uncertainty we to market ad will full continue have but XXXX, to in our in guidance a expectations third the monitor of already factored total $XX range are midpoint. level $XX year XX% expect the million million, representing at

EBITDA to adjusted quarter QX range a $X.X $X.X third expect as year. of We of last in million the million in $X.X million to compared

million by We EBITDA cash of strong flow another XX% year, reflecting and remain million. our double-digit Harmony. free For growth annual midpoint, targets. expansion we $XXX at achieving guidance encouraged of dynamics growth long-term and driving CTV like million offerings to million our $XX margin the reiterating growth, and improvement, adjusted product to $XXX and secular prior in revenue, closer the between new step are another had us consistent the full revenue We $XX putting quarter market

managing long-term the financial We take our now while growth continue remarks. Zvika to begin and in prepared please strengthening our cost condition. Operator, This our invest to Q&A sustainable concludes and structure questions. your I happy session. are efficiently

Operator

Instructions]. be conducting session a now question answer [Operator will and We

from Morgan Matthew is have Stanley. we question first The Cost of

Matthew Cost

wins. Zvika, And and XQ and customer new X. wondering I the of achieve wins couple Tony, guess, to of those the have then able key you could in just thread sorry, And in the you new XQ the there's between gave. through for of the year points if full you second I was through between common of a kind quarter. What I And on the mentioned that ad walk are in they again the that the them of them? customer a of of with kind is for -- of are and in causing sort serving broader of Or based entry in work are then coming walk they guidance with it for that are seeing Is in side? and just being generally, point group products? the you? to think the in guidance that us on of acceleration on level amount your dollar sequentially here confidence a I year half, the end and decent add acceleration sequential XQ maybe drivers quarterly terms the just they're

Zvika Netter

can first. Do the want take to me I one -- you second

wins the we I Matt, year, to QX success, would QX. those mean, if new at was on EBIT the around drivers mean sorts guidance the as question volume -- this year think the go anticipated things. the and momentum over from we're think be to through going let we had living that of we we upselling always different I And of the the to think building would have looked the Yes, that course look customer QX where be between as kind me directed you the of year. I year. I take cross-selling a success sequential that I at one increases,

as we trying some about I of some so we're the with in some second the of of particular the as seeing. mentioned, potential to And macros mean think we've the that just election more the and and tailwinds balance of uncertainties half we're

quarter-over-quarter, video CTV revenue over I volume. seeing growth, most you're straight impressions the again, CTV is And CTV And with for what from our perspective, specific the kind we that pronounced from sequential the feel think at look second both in we seeing So quarter. And the just our which in full and I in we're second XX% are, year think kind that I the that's mean, drivers of confident quarter video results. guidance as pleased uptick business. of where grew

us our inconsistent. gets of always is that said strongly CTV of percent bend So inflection by like point yet online. has more growth gives mobile And streaming haven't things like we the where XX-plus little other that things some ad-supported a that going growth that the the out, something driver. feel the look is sports we and weighed live as to primary more that we've confidence. been we specifically really down things, really seen But come -- bit one curve in is as a there's desktop, most be

going ultimately to along the... want of best when so take just you take Tony, do comes... And our that me the in to all strategy put ourselves position that advantage is to also

Anthony Callini

Yes, we may think I that you new one -- the for the take on if directed any the on was common threads. customer to there's

Zvika Netter

Yes.

In we are Omni with specifically terms other server, ad clearly, channel. an online a of -- CTV that for focus on video known support so being will

somebody's there's us RSP is there's looking it's looking server, advanced So more whether as especially more an invest RFP, from an a is it they grows, to more switch ad in case look switch Google -- brand switch. or for to to will CTV in and mainly somebody somebody to

And creative in in That reason best then So measurement. -- and And people suit another where for definitely of our of the top we there, ad the customers I measurement there win, delivery, antitrust. we definitely development most had was terms And But around products a in cross-sell brands the basically Innovid. cases and where that's us. have from and other to neutrality. the with being focus one it's our Though of tools upsell. and Google is with on or the we video is cases top on we think DCO product, common. CTV and switch agencies the tailwind Google really the using terms on against then the by eventually server starts of the and

Operator

Sean question ] [ Pattu from next is we of The Cusquena. have

Jason Bazinet

me. any specifically talk impressions one Sean. into CTV quarter? you on Jason on a Amazon's then of One coming areas And from observed in ecosystem? you And Are inventory driver Prime on overall. for that that about new of been Maybe new a second the in that on just has you ecosystem. This Can impact the strength had is how maybe couple for more particular CTV inventories would much Can call CTV or weakness the there vertical on Video verticals. out? trends the any dive you

Zvika Netter

Sure.

in a more more in of And it's consuming constantly, of an more in very the a inventory, driver, by tends space. place CTV volume XX% terms So unique spending to Livesport ads and we're And massive a is the of So front more of driver year-over-year, right? in HBO deals content the of terms number given and and IP it. and and Amazon drives environment is can increase TV. growing you that's and television Livesport at right? connected are we we There's where Primarily, inventory more investing are be mentioned, and saw the general, and in second and in, as front more, clearly, the through delivered of connected, which is Xx, and Tony I one time, in in that's the we're time is And consume massive, growth. live, and that's connected in in because second CTV So the the of a connection to options course, Disney+ on seeing course, very more -- also. content huge volume heavily that Livesport people new would exclusive. same Netflix, there -- beyond and say, half watch. nice TV more quarter, of around sorry, more

So us. that's it how impacts

a of expect eventually, we environment, even we in CTV. television better Remember clearly that be and specific will all of terms higher see In XXX% to numbers. will believe

So in years. for the there's room growth of coming still plenty

specific of Tony, do In that? you terms to want take verticals,

Anthony Callini

of Things continues seen. we've pharma been and a continue CPG kind that mean that it so. certainly Yes, strong. Auto and trends quarter, ago, challenged, is strong do have interesting continuing year really take where to be and an and to the we've one I I was can improve like seen that. it's sequentially that every

all had continuing probably given point. are news we're At of Retail think disappointing. say was know tech like I And at tremendously, of kind of finance, strengthen, off off. of in None I that's decline we kind not they're the same -- being there. terms retail the feel insurance, this about that's and surprising them most. mean, But that of the probably to the the them kind and I there, telecom, pretty Retail mixed was was of that's some positive, really paying the are news stabilized. attention But the to the us we're good out So things out categories similar that continues said, one across small -- and of time, retail bullish most is bag that amounts. this pretty look not some on I sector. is quarter seeing probably the one category and about. auto macro I all macro one a at mean, We've the would we that auto a growing to we've there. that makes again, as I talked

Operator

Condon Securities. The of Matt next question have we is JMP from

Matthew Condon

here we expect then forward? just My OpEx my you I what are is what the you across the on that just the rolling of spend Can going platform? then R&D how your initiative maybe Harmony expect is the is, made, investments to you just first the investments your expect -- And are talk think the maybe can do trend one collaboration just out, expect this talk about with going forward? have on follow-up and funds, what what with most And Tony, you effect goal Nielsen. just you about and strategic

Zvika Netter

around definitely are almost the television television extremely the and Nielsen the future partner for is about in partnership of Nielsen integrating to plan brand, CTV. television with I Nielsen legacy world of of and and a television, measurement platform. a extremely this we of industry Clearly, the is platform kind leading, around all excited with on focused over think, the household Innovid currency our the and

we're our So the fact workflow a much streamlined customers. to that create more forces joining for

using our Nielsen. So also basically, are customers all

growth. of better integration workflow measurement better into So to together between as create the believe, extremely and we're ways mutual the spend is It's and on things. top monetary clear definitely long-term a Nielsen I value Clearly, expectation be of that in upside else but of platforms plan future I doing, we're that's short a in look will argue the for months side term, would for the also something excited. proud there a everything it's we the it's we a the are long-term can so exploring tried with several pretty television that the companies ] -- many us customers. we to when [ team, contenders signal. several Innovid be currency. TV and measurement additional contributor measurement integrating that for is and the the clear currency generate space, our further to There's Nielsen for a currency, for looting of next never there in

we the I measurement believe needs we and of influencing chose and partner all around industry terms the of of CTV, really goes a in long So the way us potentially it the is think I them that to fact term, that And to in short partner I'll is signaling question, address the and core and heading to us we're their least what the... chose at like comfortable towards they also business, TV measurement. other which we who or are, agencies brands do, somebody Nielsen and with give the what

Anthony Callini

do. that was take said maybe mean team about -- question, Yes. the our part we what that I right, just is if kind gifted I Matt, specifically investments Harmony Harmony. we're in I team. was always blessed just We're normal understand and very great talented that's this of question. innovation can development I in We've And about in and our for broadly really always our Yes. it we more investment was rate that. run name, the very of development have and a investments,

the as our through this -- to So financials, frequency in you mean just were able clearly the of R&D went product this kind of really there is we we no getting to There's development and do. see still now. market this looking support the work significant at I we're initiative, can into more team. kind is with uptick existing

do. same out, we innovation focus be there's it's going So would with team group, going to to to driving But little bit I the on overall, zooming a and kind of the we're have. say, to continue

In how great. forward, pretty always of is leverage operating the pure in just about a the model is much can play, terms there to really economics spending and business think the loved are I've about of we unit how a and software pretty scale going things and is well this much one

grow, thoughtful there'll would I imagine be growth-oriented been of ourselves revenue. ahead make. ahead of so to We've very that we not get in as And we'll of some terms out investing that investments

we And as more XX-plus results in be expect a which I EBITDA to X quarters -- think over the margin. percent then And we so able that's should reflected both the our our long-term we ultimately of believe and go the that, also forward. get EBITDA expansion targets, I last that with to

Operator

we next The Co. question Martin is & Laura of Needham have from

Laura Martin

questions. you both into I X it serve Video? was and is Amazon big the guys one Internet. valuation serves But gardens is open that One as Prime actually have curious, I into into the of do of upside walled Innovid ads

Zvika Netter

or X One sure... there think said X questions just question? I make to you

Laura Martin

Yes.

My it And on lot, talked serve you where get cross-sell guys to and slide then... I Harmony right this have mean going that's into X notion the more Do Video, do upsell I was you I a my And that you correctly, drivers. the have a per actually really have about you're to customer. Prime clients. that's one. growth going sell curious So the question you your target then product that. and universe actually I'm clients, couldn't like to about don't first to thought called really Amazon for the other publisher you're But the called like clients, understand Harmony which Harmony your products but buy-side sell-side I understand maybe to would revenue incorrectly? on

Zvika Netter

Okay.

I'll only Amazon, we the platform. First the of take Amazon into all serving ads are one. not yes, first

products, between a more is and We also to also on more see even other definitely Harmony, and you around customer -- Innovid Amazon. expect should Amazon measurement and

serve ad competitive given Google even Campaign And clearly, Sometimes ads that the we on people the serve the Manager server, YouTube. Google fact answer also YouTube, and ask, we a they there. if are owns into

look at all are they adhere -- not and without delivered pay going delivered going Motors be General these So to and like then platforms. if ads not to they're our large hence, their into customers if you Verizon, not

goes must the we not it's system. DSP, actually deliver and we of So and a or in The open that us billions because the to buying everything that of which world it will selling of a measure we're since we'll media Harmony billions us selling data. buying platforms. connect we're second, for we're media, into question gardens And then billions as deliver or a reason not dollars turns impressions, we do through can and are to not those our

optimization, also and it's between goes harmonize of and and As is is minimizing pay the money harmony the media. also to whether a Harmony Harmony sell beautiful the then in tax used And going hubs need when a frequency. publishers, We Actually, the is directly value it that way, it's the that working side, greener number the price but to side. and way along It's the side, to side sell-side, for it solution. exactly to lot that more that create the and money buy there. both just the with entire publisher buy it's for direct industry, the you sales both buy is generating supply announced must to inefficiency side of

for So you're paying more impressions.

and using million spend $X you in perspective, let's $XXX,XXX you working -- with So of frequency In $XXX,XXX at -- of actually only side the from $XXX,XXX, it's side happy. the direct, having get buy you instead management, media. dollars, those sell same more are everybody happy, can And thing, brand the but this Harmony actually this the get is the benefits say, a least case, one by DSPs.

over gardens, when exposure, actually the we beatable entire benefits and it very caps areas largest it now. course, it where release programmatic, announced some them. if partnership of there, out it frequency there's the beta now there, Internet, measures is, signals Laura it's does, did But at campaign, there's in impressions. we then across what Basically, to frequency the open those DSP buy under And the customers. looks unbeatable a DSP. And and frequency, walled in it the DSPs Of non-programmatic, to with that's recent with a what and is

spending it should to more the money DSP So are the publishers in industry stopped signals the spend you to they but and here, which money area this underexposed.

But is of Innovid because more So less than a demand more are right? signal. they underexposed that way efficiency customer the audiences. paying that's then something certain do see the we planned. sending There's in more we're certain DSP getting not happy them the single way, everything, DSP there's dollar publishers that a way The only -- not But in part because is a it. for And waste. is the can

-- be get faster the way going it's industry but situation. hopefully, into CTV, this, everybody because reason out about. to it of it dollars exactly configure value call happy And more this And that there linear of actually it's that think CTV. sounds more we a everybody a we'll So will win-win make will to odd, Harmony, I is more drive which is

Operator

Thank reached any have turn to question-and-answer you... the the to And Netter and gentlemen, floor comments. of our closing Zvika would we over like for end session. I back Ladies

Zvika Netter

all Harmony us with we again, in like to We and integrations second And more momentum and continue Nielsen thank joining future. it, things map growth, in streaming of the with management, platforms the saw profitable proud where you. quarter a and investing keep we'll the to there's the and mention we growth Thank hopefully, road we double-digit coming world, We're integration the whole frequency the today. with today, didn't you extremely Harmony talked mention some we value. more goal of including profitable lot some in a of for deliver direct while in and about that the partnership ahead largest deliver

and Have to for partners thank going And all all and posted all And to we're again, like about increasing something that this over keep a quarter, joining having of our you increasing environment thank proud very Bye... our diligent and employees, you us after world. of. our that an doing we're day. quarter double will the great is growth keep in EBITDA today, our So customers I want progress.

Operator

today's concludes you joining conference. That Thank for us.

now disconnect your lines. may You

Innovid (CTV) 6 Aug 242024 Q2 Earnings call transcript