Outbrain Inc. - OB STOCK NEWS

Outbrain has appointed Yonatan Maman as Chief Technology Officer and Andraz Tori as Chief Product Officer. Maman, who joined Outbrain in 2011, has held leadership roles in engineering, while Tori, a Zemanta founder, has led recommendations and data science. Both executives aim to enhance Outbrain’s technologies to meet the evolving needs of publishers and advertisers. Co-Founder Ori Lahav will transition to focus on strategic initiatives while continuing as General Manager in Israel. Outbrain has achieved significant milestones, including over $1 billion in revenue. This leadership change is expected to drive innovation within Outbrain’s product offerings, particularly in the AI and automation space, as the company enters a new era of growth.

Outbrain Inc. (NASDAQ: OB) announced it will release its first quarter 2023 results on May 9, 2023, prior to market opening. Following the results announcement, a conference call will take place at 8:30 a.m. Eastern Time to discuss the outcomes and future outlook. Investors can participate via phone or a live webcast available on the company’s Investor Relations website. Outbrain operates as a significant recommendation platform, delivering over 10 billion daily recommendations across more than 7,000 online properties, aiming to connect advertisers with a broad audience. The firm has been in operation since 2006 and is headquartered in New York.

Outbrain Inc. (NASDAQ: OB) has announced the repurchase of $118 million of its 2.95% Convertible Senior Notes due 2026 from Baupost Group Securities at a 19% discount, totaling approximately $96 million in cash, including accrued interest. This strategic move will yield a pre-tax gain of about $22 million in Q2 2023. Following this, approximately $118 million of the Convertible Notes will remain outstanding from the original $236 million issued. CFO Jason Kiviat emphasized that this buyback reflects the company's financial discipline and is a beneficial decision for shareholder value.

Outbrain Inc. (NASDAQ: OB) reassures stakeholders regarding its exposure to Silicon Valley Bank (SVB), stating that less than 5% of its cash and investments are held there. The company maintains funds at multiple large financial institutions and has an undrawn revolving credit facility with SVB, which it does not expect to utilize in the near term. Furthermore, it emphasizes that it foresees no material impact on its financial condition or operations due to SVB's situation. Outbrain's technology facilitates 10 billion daily recommendations, connecting advertisers to audiences across over 7,000 online properties.

Outbrain Inc. (Nasdaq: OB) reported its financial results for Q4 and FY 2022, revealing challenges due to a tough macroeconomic environment. Q4 revenue was $258 million, an 11% drop from the previous year, with a net loss of $7.7 million compared to net income of $39 million last year. The company’s gross profit decreased 29% to $48.1 million. Despite these challenges, Outbrain achieved profitability in Q4 and generated $17.1 million in operating cash flow. For FY 2022, total revenue dropped 2% to $992.1 million, with a net loss of $24.6 million. The board authorized a new $30 million share repurchase program aiming to enhance shareholder value.

Outbrain Inc. (NASDAQ: OB) has appointed Nithya B. Das to its Board of Directors, bringing extensive experience from her roles at Olo and AppNexus. Das, who has served as COO and Chief Legal Officer at Olo, will step down from her position at the company effective March 31, 2023. Her background includes leading AppNexus during its acquisition by AT&T for around $2 billion. Outbrain's leadership highlighted her expertise in operational excellence and governance as vital for enhancing the company’s growth strategy in the digital advertising ecosystem.

Outbrain (NASDAQ: OB) announced it will release its fourth quarter and full year 2022 results on March 2, 2023, prior to market open. A conference call to discuss the results and business outlook will take place at 8:30 a.m. ET on the same day. Investors can access the call via phone or through a live webcast on the company's Investor Relations website. The replay will be available shortly after the call and will remain accessible until March 16, 2023. Outbrain is a leading recommendation platform that delivers 10 billion daily recommendations across over 7,000 online properties.