Welcome to our dedicated page for Innovid news (Ticker: CTV), a resource for investors and traders seeking the latest updates and insights on Innovid stock.
Innovid Corp. (NYSE: CTV) is a leading software platform specializing in the creation, delivery, measurement, and optimization of TV advertisements across connected TV (CTV), mobile TV, and desktop TV environments. Innovid provides comprehensive ad serving and creative services to advertisers, publishers, and media agencies, facilitating seamless and impactful advertising experiences.
Headquartered in New York City and operating globally with offices in the U.S., Canada, EMEA, APAC, and LATAM, Innovid derives the majority of its revenue from the United States. The company’s innovative platform enables cross-platform ad serving, data-driven creative, and precise measurement, empowering clients to optimize their advertising investments across different channels, platforms, screens, and devices.
Innovid is recognized for its independent and technologically advanced platform, leading the market in converged TV innovation. Key partnerships and proprietary technology allow Innovid to reimagine TV advertising, offering always-on intelligence and a competitive edge in the rapidly evolving digital advertising landscape.
In the recent financial results for the fourth fiscal quarter and the full year ended December 31, 2023, Innovid reported exceeding its revenue and adjusted EBITDA guidance, showing sequential improvement each quarter, and generating positive free cash flow for the year. Co-Founder and CEO Zvika Netter highlighted the company’s strong business momentum and dedication to driving accelerated and profitable growth as CTV ad-supported platforms gain traction and live sports rights shift to streaming.
Looking ahead, Innovid anticipates continued revenue growth and margin expansion in 2024, supported by a robust market opportunity and a focus on operational efficiency. The company's financial guidance for Q1 and the full year of 2024 reflects this optimistic outlook.
Recent Business Highlights
- Strong sequential improvement in revenue and adjusted EBITDA for 2023.
- Generated positive free cash flow for the full year of 2023.
- Enhanced position in the market with the increasing momentum of CTV ad-supported platforms.
Innovid prepares its financial statements in accordance with U.S. GAAP and also provides non-GAAP financial measures such as adjusted EBITDA and free cash flow to offer a more comprehensive understanding of its core business operations. These measures are widely used by investors and analysts for period-to-period comparisons and industry benchmarks.
For more details and the latest updates, visit the Innovid Investor Relations website or contact the company's investor and media relations representatives.
Innovid Corp. (NYSE: CTV) has appointed Genevieve Juillard to its Board of Directors, effective immediately, for a term expiring in 2025. Juillard, currently President of Experian Marketing Services, brings extensive experience from her tenure at Experian, including leading the acquisition of Tapad. In her new role, Juillard anticipates leveraging her background as Innovid navigates the shifting landscape of digital television advertising. CEO Zvika Netter emphasized that Juillard's expertise will aid Innovid's efforts to integrate and expand its services, particularly following the acquisition of TVSquared, which enhances their measurement capabilities. The move reflects Innovid's commitment to strengthening its leadership amid evolving market dynamics.
Innovid Corp. (NYSE: CTV) reported preliminary estimated revenues for Q1 2023, projecting approximately $30 million, surpassing previous guidance of $27 million to $29 million. CEO Zvika Netter expressed optimism about the company's focus on profitable growth and disciplined expense management. The official earnings release is scheduled for May 9, 2023, before market opening, followed by a conference call at 8:30 a.m. ET. While the preliminary revenue figure is seen as reasonable, it remains subject to change. Investors are advised to consider potential risks affecting future results, including market conditions and operational challenges. For further details, more information will be shared during the earnings call.
Innovid Corp. (NYSE:CTV) announced a successful collaboration with Davis Elen Advertising, achieving a 20% reduction in cost per unique reach for a global project management software client through the InnovidXP platform. This campaign integrated advertising across linear TV, connected TV (CTV), desktop, and mobile screens, enabling real-time measurement of reach and frequency. The initiative resulted in an impressive 92% unique reach, 7x campaign frequency, and only 2% audience overlap across Samsung and LG TVs. Innovid continues to enhance advertising strategies with a focus on performance-driven results.
Innovid (NYSE: CTV) has announced a partnership with Walmart Connect to enhance personalized ad creative for Walmart's demand-side platform (DSP). This integration will facilitate optimized and interactive experiences for connected TV ads, ensuring high-quality video delivery. As retail media ad spending in the U.S. is projected to grow 25.8% to $51.36 billion in 2023, Innovid's capabilities will enable brands to create targeted ad campaigns using first-party data. The integration allows for real-time content optimization, improving campaign performance across various platforms.
Innovid Corp. (NYSE: CTV) has announced its participation in key investor conferences in March 2023. CEO Zvika Netter will present at the Morgan Stanley Technology, Media & Telecom Conference on March 6 at 4:30 p.m. ET in San Francisco, CA, followed by a presentation at the JMP Securities Technology Conference on March 7 at 12:30 p.m. ET, also in San Francisco. Both sessions will have a live audio webcast and will be archived for 30 days. Innovid offers a platform for personalized advertising across linear and connected TV, enhancing advertising investment for global brands.
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