IAS also reiterated its revenue and adjusted EBITDA outlook for the fourth quarter and full year of 2024, as previously forecasted in its November 12, 2024, financial results release. The company has demonstrated solid performance with revenue growth of 11.77% and a robust gross profit margin of 78.71% in the last twelve months. CEO Lisa Utzschneider expressed gratitude towards Secor for her contributions and welcomed Putman's interim leadership, anticipating a year of growth and innovation for IAS. Notably, two analysts have recently revised their earnings expectations upward for the upcoming period.
Secor left her position at IAS to pursue new opportunities, and the company has initiated the search for a permanent CFO. Putman, who has been a member of the IAS Board since 2021 and served as the Chair of the Audit Committee, will continue to serve on the Board. However, she has stepped down from her Audit Committee roles, with Bob Lord taking over as the member and Chair of the Audit Committee. The company maintains strong financial fundamentals, with a current ratio of 3.71x and moderate debt levels, as reported by InvestingPro.
IAS also reiterated its revenue and adjusted EBITDA outlook for the fourth quarter and full year of 2024, as previously forecasted in its November 12, 2024, financial results release. The company has demonstrated solid performance with revenue growth of 11.77% and a robust gross profit margin of 78.71% in the last twelve months. CEO Lisa Utzschneider expressed gratitude towards Secor for her contributions and welcomed Putman's interim leadership, anticipating a year of growth and innovation for IAS. Notably, two analysts have recently revised their earnings expectations upward for the upcoming period.
Putman has a rich background in finance, having held several leadership roles including VP of Finance at Secure Computing, which was acquired by McAfee in 2008, and CFO of Kroll Ontrack. She also served in KPMG's audit practice at the start of her career.
IAS, known for providing data to enhance ad effectiveness and media quality, is maintaining its financial projections as previously communicated. The company emphasizes that forward-looking statements in the press release are subject to risks and uncertainties and should not be seen as guarantees of future performance.
The information in this article is based on a press release statement from Integral Ad Science.
In other recent news, Integral Ad Science (IAS) reported an 11% increase in revenue for the third quarter, reaching $133.5 million, and a significant 38% adjusted EBITDA margin. However, the company expects its fourth-quarter growth to mirror the third quarter's performance at 11%. Following these results, Jefferies, Piper Sandler, and BMO Capital Markets all revised their price targets for IAS. Jefferies cut its target to $15 but maintained a Buy rating, Piper Sandler reduced its target to $16 while keeping an Overweight rating, and BMO Capital Markets lowered its target to $15, maintaining an Outperform rating.
These adjustments were based on IAS's performance and a less optimistic forecast for the company's future results. The analysts noted a decrease in both the revenue and adjusted EBITDA estimates for the fiscal year 2025, anticipating a 13% increase in revenue for FY25. The adjusted EBITDA margin is expected to remain steady at 35.5%.
In addition to these financial developments, IAS onboarded more than 75 new customers following Oracle (NYSE:ORCL)'s exit from the advertising market, and the company anticipates continued profitability and growth into 2025, driven by new product adoption and market expansion. These are among the recent developments for IAS. Despite facing challenges like decreased volume growth from retail and consumer packaged goods customers, slower ramp-up in new product monetization, and reduced brand spending, IAS management projects double-digit revenue growth and consistent adjusted EBITDA margins into 2025.
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