Integrated Advertising Science (NASDAQ: IAS) raised its full-year forecast and reported better-than-expected second-quarter results, causing its stock price to rise 18% on Friday.
The company’s shares are Nearly +11% 11:11 AM On sale for $10.99 Nasdaq. In stock A drop of more than 24% So far this year.
The company said it currently expects total revenue in 2024 to be US$53.8-544 million and adjusted EBITDA of US$1.8-184 million. It previously guided for revenue of $533-541 million and adjusted EBITDA of $174-180 million.
“We are driving revenue growth and investing in strategic growth initiatives while maintaining a strong financial position with adjusted EBITDA margin of 36%, healthy cash flow and low debt,” Chief Financial Officer Tania Secor said in a statement.
The company expects revenue for the current quarter to be between $137 and $139 million. Seeking Alpha’s consensus estimate for third-quarter revenue is $137.4 million.
Segment revenue: Optimization $58.5 million (+11% year-over-year); Measurements $52.7 million (+17% year-over-year); Publishers $17.8 million (+12% year-over-year). Revenue from outside the Americas accounts for nearly one-third of total revenue.
Net profit for the three months ended June 30 was US$7.7 million, the same as the same period last year.
On a per-share basis, the company earned 5 cents, 3 cents above analysts’ average estimate.
Total revenue grew 13.5% to $129 million, beating consensus estimates by nearly $3 million.
