Taboola Q4 revenue up 16% to $407.6 million
As per Founder & CEO Adam Singolda, Taboola closed 2021 with the strongest quarter in its history and with record revenues
Taboola has reported a 16% year-over-year revenue growth $407.6 million for the quarter ended 31st December 2021 as against $351.2 million in the same quarter last fiscal.
The company said new digital property partners drove $21 million of growth while the existing digital property partners added $35 million which translates to net dollar retention of 110% driven by improvement in yield as well as the inclusion of Connexity revenue.
The total cost of revenues was up 2.24% at $264 million from $258.2 million. Total operating expenses grew 44.1% to $124.9 million from $86.7 million. Gross Profit grew 54.4% year-over-year to $143.6 million from $93 million a year ago. Net income was down at $0.58 million from $2.75 million. Adjusted EBITDA of $65 million increased by $32 million year-over-year as higher gross profit more than offset higher operating expenses.
“We closed 2021 with the strongest quarter in our history with record Revenues, ex-TAC Gross Profit and Adjusted EBITDA,” said Adam Singolda, Founder and CEO, Taboola. “We’ve continued our strong momentum, launching game changing products such as Homepage for You and SmartBid Dimensions, signing incredible partnerships such as McClatchy and Samsung and making great progress in our premium advertising offerings, including brands/agencies with video, as well as e-Commerce with the acquisition of Connexity. This all comes at a time when the future of advertising is transitioning from user-tracking to contextual, which is where Taboola shines. We are excited to carry this momentum into 2022, and we are laser focused on continual innovation and unlocking greater audience, engagement and monetization for our partners.”
For the full fiscal, the company's revenue expanded 16% to $1.37 billion from $1.18 billion. Gross profit jumped 38.1% to $441 million from $319.4 million. The company slipped into a net loss of $24.9 million against a net profit of $8.4 million in the previous fiscal. Adjusted EBITDA was down 69% to $179.4 million from $106.1 million. Cash flow from operations declined 54.3% to $63.5 million from $139 million.
For the First Quarter 2022, the company currently expects the revenues to be in the range of $353 to $359 million. It anticipates gross profit of $108 to $112 million in Q1 2022. Ex-TAC Gross Profit is projected to be $134 to $138 million. Adjusted EBITDA is expected at $32 to $34 million.
