**Teads Holding Co. Reports Fiscal Year 2025 Results, Impacted by Acquisition and Market Shifts**
Teads Holding Co. (TEAD) reported its financial results for the fiscal year ended December 31, 2025, reflecting a period of significant transformation marked by the acquisition of Legacy Teads and evolving market dynamics. The company's revenue reached $1.3 billion, a 46.1% increase compared to $889.9 million in 2024. This growth includes a $15.5 million net favorable impact from foreign currency exchange rates. On a constant currency basis, revenue increased by 44.4%. The acquisition of Legacy Teads contributed $517.2 million to the revenue, offsetting a $106.6 million decline in revenue from the legacy Outbrain business.
The company's profitability metrics also saw significant changes. Gross profit increased by 123.3% to $429.1 million, with a gross margin of 33.0%, compared to $192.1 million and 21.6% in the previous year. Ex-TAC Gross Profit, a non-GAAP measure, reached $529.7 million, up from $236.1 million in 2024. However, the company reported a net loss of $517.1 million, compared to a net income of $0.7 million in 2024. This loss includes non-cash impairment charges of $367.7 million related to goodwill and intangible assets, $28.9 million in acquisition-related costs, and $15.3 million in restructuring charges. Adjusted EBITDA, another non-GAAP measure, was $93.4 million, compared to $37.3 million in the prior year.
Operationally, Teads has been navigating a complex integration process following the acquisition, while also adapting to shifts in the digital advertising landscape. The company partners with approximately 10,000 media owners, reaching over 2 billion consumers per month across CTV, online, and in-app environments. The company has been impacted by a decline in traffic to media partners due to the rise of generative AI tools, which has reduced the inventory of advertising impressions available for monetization. In response, Teads has been focusing on deepening relationships with agencies and advertisers, leveraging its comprehensive product suite, and deepening relationships with media owners to maintain access to premium, exclusive inventory.
Looking ahead, Teads intends to prioritize deleveraging while continuing to invest in its business to drive long-term growth. The company is focused on expanding its presence in high-growth media environments such as CTV, online video, and mobile in-app environments. However, the company acknowledges several risks and uncertainties, including the ability to successfully integrate the two companies, the impact of overall advertising demand and traffic generated by media partners, and the challenges of compliance with differing and changing regulatory requirements, particularly with respect to privacy and data protection. The company also faces risks related to conditions in Israel and the Middle East, including ongoing conflicts and potential escalations involving surrounding nations.
About Teads Holding Co.
Outbrain is a digital advertising platform specializing in performance marketing and content recommendation across the Open Internet. It offers omnichannel solutions—including web, mobile, and CTV—to global advertisers, media owners, and agencies. The company leverages proprietary AI, data-driven targeting, and exclusive media inventory to deliver high-quality, scalable advertising outcomes, connecting brands with audiences through premium, differentiated inventory and innovative ad formats.
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