Zeta Global Holdings Corp. - ZETA STOCK NEWS

Zeta Global (NYSE: ZETA) announced that a forensic review completed in 2022-2023 found its practices sound and financial statements accurate, countering recent allegations in a misleading report. The review, conducted by Latham & Watkins LLP and external forensic accountants, was initiated after learning of a federal investigation into Kubient, Inc., a former business partner before Zeta's 2021 IPO. The review confirmed the accuracy of Zeta's financial statements and the effectiveness of internal controls. The company addressed the recent Critical Audit Matters (CAM) disclosure, noting it's a common practice among public companies and doesn't indicate control deficiencies.

Zeta Global (NYSE: ZETA) announced that CEO David A. Steinberg, company leadership, and board members plan to purchase approximately $3 million worth of Class A common stock on November 18, 2024. The announcement comes in response to what Steinberg describes as a recent report containing false claims about the company. Steinberg expressed confidence in the company's integrity and stated his belief that the current share price is undervalued, emphasizing the company's strong performance for shareholders over the past three years.

Zeta Global (NYSE:ZETA) announced a webinar scheduled for Wednesday, November 20 at 3:30 p.m. Eastern Time, hosted by William Blair's Partner Arjun Bhatia. Key company executives, including CEO David Steinberg, CFO Chris Greiner, and Audit Committee Chair Robert Niehaus, will discuss the company's accounting processes, controls, data collection policies, and privacy oversight. The webinar follows a recent short-seller report, to which Zeta has issued a preliminary response. Registration is available through William Blair representatives, and a replay will be accessible on Zeta's Investor Relations website.

Zeta Global (NYSE: ZETA) announced a new $100 million stock repurchase program for its Class A common stock, extending through December 31, 2026. This supplements their existing program from August 2022, which has $14.7 million remaining and expires December 31, 2024. The company plans to use various methods for repurchases, including open market purchases and privately negotiated transactions. Management expects to generate significant free cash flow over the next two years and believes the current stock valuation presents a unique opportunity for share repurchases.

Zeta Global (NYSE: ZETA) has issued a response to a short-seller report published by Culper Research, strongly refuting its claims as misleading and false. The company emphasizes that its independent auditor is Deloitte, not E&Y as incorrectly stated in the report, and confirms its confidence in internal accounting processes and controls. Zeta clarifies that revenue from customers who are also vendors is insignificant, and the combined revenue contribution from Apptness and ArcaMax is less than 3% year-to-date through Q3 2024. The company denies operating 'consent farms' and affirms its commitment to data protection and privacy compliance.

Zeta Global (NYSE: ZETA) reported strong Q3 2024 results with revenue reaching $268.3 million, up 42% year-over-year. The company achieved significant financial milestones, including a 41% growth in Direct platform revenue, representing 70% of total revenue. Scaled Customer ARPU increased 33% Y/Y to $557,231, while operating cash flow grew 51% Y/Y to $34.4 million. Despite posting a GAAP net loss of $17.4 million, Adjusted EBITDA rose 59% Y/Y to $53.6 million. The company raised its Q4 2024 revenue guidance to $293-297 million and full-year 2024 guidance to $984.1-988.1 million.

The Zeta Economic Index (ZEI) for October 2024 shows a stable US economy with an Economic Index Score (EIS) of 68.5 points, remaining flat month-over-month. The index, powered by AI technology analyzing data from over 240 million US consumers, indicates robust economic activity despite challenges from weather events, labor strikes, and political uncertainty. Key economic indicators show GDP growth at 2.8% and reduced inflation at 2.4%. Consumer behavior reveals a 1.6% decline in discretionary spending while online browsing increased by 7.7%. The technology sector experienced a 4.2-point decline due to reduced spending and supply chain challenges.

Zeta Global (NYSE: ZETA) has successfully completed its acquisition of LiveIntent, a pioneer in people-based marketing. This strategic move is set to enhance the Zeta Marketing Platform, strengthen the Zeta Data Cloud, and advance Zeta's position in AI-powered marketing. The acquisition brings LiveIntent's assets, publisher network, and channel capabilities into Zeta's fold.

CEO David A. Steinberg emphasized that the acquisition is accretive to Zeta's financial profile and will deliver increased value to enterprises while extending the platform to the publisher ecosystem. The integration is expected to expand gross margins and accelerate the shift of revenue from agency customers to direct channels. Detailed transaction information is available in Zeta's Press Release and 8-K filed with the SEC on October 8, 2024.

Zeta (NYSE: ZETA), the AI-Powered Marketing Cloud, has announced plans to release its third quarter 2024 financial results after the market close on Monday, November 11, 2024. Following the release, Co-Founder, Chairman, and CEO David A. Steinberg and CFO Chris Greiner will host a conference call at 4:30 p.m. Eastern Time on the same day.

Investors and interested parties can access a live webcast and replay of the conference call on Zeta's Investor Relations website at http://investors.zetaglobal.com. The company has chosen to release its earnings at a later date than usual due to the timing of the election.