The following is a summary of the Outbrain Inc. (OB) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Outbrain reported Q3 2024 revenue of approximately $224 million, representing a slight decrease of 3% year-over-year.

• Ex-TAC gross profit for Q3 was $59.7 million, up 5% year-over-year, indicating improved performance in revenue mix and certain deal outcomes.

• Adjusted EBITDA grew 12% year-over-year to $11.5 million, driven by operational efficiencies and cost optimizations.

Business Progress:

• Outbrain continues to expand beyond traditional feeds, now comprising 28% of total revenue.

• The company is deepening partnerships with premium media owners like Huffington Post and Meteo, and securing new partnerships such as with Sports one Germany and Reuters & Newsweek in Japan.

• Notable product and technology advancements include the launch of 'Moments by Outbrain' in beta and integration of AI into Outbrain's services through collaborations, notably with Microsoft Azure.

Opportunities:

• Market Expansion: Outbrain is increasing its inventory diversity and expanding beyond traditional feed sources.

• Product Innovation: Initiatives like 'Moments by Outbrain' and AI-driven creative automation tools demonstrate product innovation.

• Strategic Partnerships: New business partnerships with premium publishers and strengthened relationships ensure exclusive inventory and contextual insights.

Risks:

• Regular seasonal impacts anticipated, with caution advised due to a somewhat slower start to Q4.

• Dependence on key partners, as shifting technologies and strategies from significant partners could affect performance metrics.

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