Following these transactions, Eldad's direct ownership in Taboola.com stands at 9,706,175 shares. This figure includes a combination of ordinary shares and restricted stock units (RSUs) that are subject to various vesting schedules and conditions. The company maintains strong financial health with more cash than debt on its balance sheet and a healthy current ratio of 1.31, according to InvestingPro analysis, which offers comprehensive insights through its Pro Research Report covering 1,400+ US equities. The company maintains strong financial health with more cash than debt on its balance sheet and a healthy current ratio of 1.31, according to InvestingPro analysis, which offers comprehensive insights through its Pro Research Report covering 1,400+ US equities.
These sales were conducted under a pre-established Rule 10b5-1 trading plan, which Eldad adopted in March 2024. The transactions were made in connection with Eldad's tax obligations, as he is subject to taxation in both the United States and Israel, where tax regulations on equity compensation differ significantly. Notably, InvestingPro data reveals that management has been actively buying back shares, demonstrating confidence in the company's future prospects.
Following these transactions, Eldad's direct ownership in Taboola.com stands at 9,706,175 shares. This figure includes a combination of ordinary shares and restricted stock units (RSUs) that are subject to various vesting schedules and conditions.
In other recent news, Taboola, the prominent discovery platform, has announced robust financial results for the third quarter of 2024. The company's revenue rose by 20% to $433 million, and ex-TAC gross profits surged by 30% to $166.4 million. Additionally, the adjusted EBITDA increased by 110%, reaching $47.9 million, and the free cash flow for the year exceeded $105 million.
Despite a reported net loss of $6.5 million for the quarter, Taboola maintains a strong net cash position of $64.5 million and continues its share repurchase program. The company's CEO, Adam Singolda, underscored AI adoption, distribution channel expansion, and revenue per user enhancement as key growth opportunities. Partnerships with major companies such as Microsoft (NASDAQ:MSFT), Yahoo, and Apple (NASDAQ:AAPL) are fueling ad spend growth.
Looking ahead, Taboola's annual guidance remains firm, projecting revenues between $1.735 billion and $1.765 billion. The company expects the adjusted EBITDA to surpass $200 million for the full year. For the fourth quarter, revenue projections range from $460 million to $490 million, with adjusted EBITDA between $83 million and $99 million. The company remains optimistic about continued growth, with an Investor Day scheduled for early 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.