Total revenue increased 8% to $114.5 million
Net loss of $1.3
million at a 1% net loss margin; adjusted EBITDA of
$33.1 million at a 29%
margin
Introduces positive second quarter outlook and
raises full-year outlook
NEW
YORK, May 9, 2024 /PRNewswire/ -- Integral Ad
Science Holding Corp. (Nasdaq: IAS), a leading global media
measurement and optimization platform, today announced financial
results for the first quarter ended March
31, 2024.
"Our first quarter results exceeded our expectations. We expect
favorable demand trends for our industry-leading products in the
second quarter, and we are raising our full year outlook," said
Lisa Utzschneider, CEO of IAS. "We
benefited from strong social media revenue growth of 40% in our
measurement business in the first quarter as we increased
availability of our Total Media Quality (TMQ) product across the
major social media platforms. We have also established several
industry-first partnerships which reinforce demand for the accuracy
and sophistication of our innovative AI-backed solutions and the
trust the leading platforms, marketers, and publishers place in
IAS. We have a robust product pipeline that we expect will drive
performance in the back half of 2024 across several fast-growing
channels."
First Quarter 2024 Financial Highlights
- Total revenue was $114.5
million, an 8% increase compared to $106.1 million in the prior-year period.
- Optimization revenue was $52.5
million, a 3% increase compared to $51.0 million in the prior-year period.
- Measurement revenue was $46.3
million, a 14% increase compared to $40.7 million in the prior-year period.
- Publisher revenue was $15.8
million, a 10% increase compared to $14.4 million in the prior-year period.
- International revenue, excluding the Americas, was
$36.0 million, a 13% increase
compared to $31.9 million in the
prior-year period, or 31% of total revenue for the first quarter of
2024.
- Gross profit was $88.4
million, a 5% increase compared to $84.4 million in the prior-year period. Gross
profit margin was 77% for the first quarter of 2024.
- Net loss was $1.3 million,
or $0.01 per share, compared to net
income of $3.1 million, or
$0.02 per share, in the
prior-year-period. Net loss margin was 1% for the first quarter of
2024.
- Adjusted EBITDA* was $33.1
million compared to $34.1
million in the prior-year period. Adjusted EBITDA* margin
was 29% for the first quarter of 2024.
- Cash and cash equivalents were $83.9 million at March 31,
2024.
Recent Business Highlights
- Meta Expansion - IAS launched its AI-driven Total Media
Quality (TMQ) brand safety and suitability measurement product
across Facebook and Instagram Feed and Reels on February 5th. During the quarter, IAS expanded
its solutions with Meta to include 21 new languages for a total of
28 supported languages. In April, IAS expanded to include
GARM-aligned misinformation measurement capability.
- TikTok Expanded Markets and Capabilities - In April, IAS
expanded its global industry-leading brand safety and suitability
measurement on TikTok including Vertical Sensitivity/Category
Exclusion segments, expanded coverage to 11 new countries,
Automated Suitability Profiles and enhanced reporting.
- Snap Partnership - In March, IAS expanded its
partnership with Snap and will be the first to provide AI-driven
brand safety and suitability measurement for advertisers. By
integrating IAS's TMQ product, advertisers now have access to
increased transparency across their Snapchat campaigns.
- X Expansion - In February, IAS launched its exclusive
pre-bid product with X, providing the opportunity for U.S.
advertisers to opt-in to activate pre-bid IAS Optimization for X on
the Vertical Video product. IAS classifies vertical video ad
adjacencies for brand safety and suitability aligned to the GARM
framework, giving advertisers maximum control over where their ads
appear on the X vertical video feed.
- Roblox Integration - In May, IAS announced its
first-to-market integration with Roblox to provide 3D in-experience
viewability and IVT measurement.
- Netflix CTV Attention Measurement - IAS collaborated
with Netflix to provide CTV attention measurement with IAS Quality
Attention to demonstrate the effectiveness of Netflix's ad-
supported attention metrics, including across international
markets.
- YouTube MRC Accreditation - In March, IAS earned MRC
accreditation for its integrated third-party calculation and
reporting of YouTube video viewability for desktop and mobile
including web and app using Google's Ads Data Hub for Measurement
Partners (ADH-MP).
- SIVT MRC Accreditation - In April, IAS received
accreditation for filtration of sophisticated invalid traffic
(SIVT) in CTV environments as applied to video impressions,
viewable impressions and viewability related metrics.
- TrustArc Certification - In April, IAS received
TrustArc's TRUSTe Responsible AI certification, demonstrating its
commitment and alignment with the highest standards of AI
governance.
Financial Outlook
"We expect to accelerate revenue growth and profitability from
the first quarter in 2024 as we execute on our business plan," said
Tania Secor, CFO of IAS. "In
addition, we plan to expand adjusted EBITDA margins, invest for
long-term sustainable growth, and lower debt."
IAS is introducing the following financial outlook for the
second quarter of 2024 and raising its full year 2024 revenue and
adjusted EBITDA outlook:
Second Quarter Ending June 30,
2024:
- Total revenue of $125
million to $127 million
- Adjusted EBITDA* of $37
million to $39 million
Year Ending December 31,
2024:
- Total revenue of $533
million to $541 million
- Adjusted EBITDA* of $174
million to $180 million
* See "Supplemental Disclosure Regarding Non-GAAP Financial
Information" section herein for an explanation of these measures.
IAS is unable to provide a reconciliation for forward-looking
guidance of adjusted EBITDA and corresponding margin to net income
(loss), the most closely comparable GAAP measures without
unreasonable effort, because certain material reconciling items,
such as depreciation and amortization, interest expense, income tax
expense (benefit) and acquisition, restructuring and integration
expenses, cannot be estimated due to factors outside of IAS's
control and could have a material impact on the reported results.
However, IAS estimates stock-based compensation expense for the
second quarter of 2024 in the range of $15
million to $17 million and for
the full year 2024 in the range of $63
million to $66 million.
INTEGRAL AD SCIENCE
HOLDING CORP.
CONDENSED
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
|
|
(IN THOUSANDS,
EXCEPT SHARE DATA)
|
March 31,
2024
|
|
December 31,
2023
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
83,947
|
|
$
124,759
|
Restricted
cash
|
298
|
|
54
|
Accounts receivable,
net
|
67,764
|
|
74,609
|
Unbilled
receivables
|
43,198
|
|
46,548
|
Prepaid expenses and
other current assets
|
32,468
|
|
18,959
|
Total current
assets
|
227,675
|
|
264,929
|
Property and equipment,
net
|
4,088
|
|
3,769
|
Internal use software,
net
|
43,729
|
|
40,301
|
Intangible assets,
net
|
169,316
|
|
178,908
|
Goodwill
|
674,454
|
|
675,282
|
Operating lease
right-of-use assets
|
19,766
|
|
21,668
|
Deferred tax asset,
net
|
2,433
|
|
2,465
|
Other long-term
assets
|
4,361
|
|
4,402
|
Total
assets
|
$ 1,145,822
|
|
$
1,191,724
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts payable and
accrued expenses
|
$
42,176
|
|
$
72,232
|
Operating lease
liabilities, current
|
9,119
|
|
9,435
|
Due to related
party
|
83
|
|
121
|
Deferred
revenue
|
1,318
|
|
682
|
Total current
liabilities
|
52,696
|
|
82,470
|
Deferred tax liability,
net
|
20,330
|
|
20,367
|
Long-term
debt
|
123,841
|
|
153,725
|
Operating lease
liabilities, non-current
|
17,707
|
|
19,523
|
Other long-term
liabilities
|
6,172
|
|
6,183
|
Total
liabilities
|
220,746
|
|
282,268
|
Commitments and
Contingencies (Note 13)
|
|
|
|
Stockholders'
Equity
|
|
|
|
Preferred Stock, $0.001
par value, 50,000,000 shares authorized at March 31,
2024;
0 shares issued and
outstanding at March 31, 2024 and December 31, 2023.
|
—
|
|
—
|
Common Stock, $0.001
par value, 500,000,000 shares authorized, 159,761,454
and
158,757,620 shares
issued and outstanding at March 31, 2024 and December 31,
2023,
respectively.
|
160
|
|
159
|
Additional
paid-in-capital
|
919,192
|
|
901,259
|
Accumulated other
comprehensive loss
|
(1,975)
|
|
(916)
|
Retained
earnings
|
7,699
|
|
8,954
|
Total stockholders'
equity
|
925,076
|
|
909,456
|
Total liabilities and
stockholders' equity
|
$ 1,145,822
|
|
$
1,191,724
|
INTEGRAL AD SCIENCE
HOLDING CORP.
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)
INCOME
(UNAUDITED)
|
|
|
|
Three Months Ended
March 31,
|
(IN THOUSANDS,
EXCEPT SHARE AND PER SHARE DATA)
|
|
2024
|
|
2023
|
Revenue
|
|
$
114,530
|
|
$
106,092
|
Operating
expenses:
|
|
|
|
|
Cost of revenue
(excluding depreciation and amortization shown below)
|
|
26,161
|
|
21,682
|
Sales and
marketing
|
|
31,825
|
|
26,260
|
Technology and
development
|
|
17,978
|
|
15,529
|
General and
administrative
|
|
21,380
|
|
20,723
|
Depreciation and
amortization
|
|
15,080
|
|
12,825
|
Foreign exchange loss
(gain), net
|
|
1,569
|
|
(516)
|
Total operating
expenses
|
|
113,993
|
|
96,503
|
Operating
income
|
|
537
|
|
9,589
|
Interest expense,
net
|
|
(1,926)
|
|
(3,417)
|
Net (loss) income
before income taxes
|
|
(1,389)
|
|
6,172
|
Benefit (provision)
from income taxes
|
|
134
|
|
(3,026)
|
Net (loss)
income
|
|
$
(1,255)
|
|
$
3,146
|
Net (loss) income per
share – basic and diluted:
|
|
$
(0.01)
|
|
$
0.02
|
Weighted average shares
outstanding:
|
|
|
|
|
Basic
|
|
159,385,167
|
|
154,315,219
|
Diluted
|
|
159,385,167
|
|
157,884,615
|
Other comprehensive
(loss) income:
|
|
|
|
|
Foreign currency
translation adjustments
|
|
(1,059)
|
|
1,149
|
Total comprehensive
(loss) income
|
|
$
(2,314)
|
|
$
4,295
|
Stock-Based
Compensation
(UNAUDITED)
|
|
|
Three Months Ended
March 31,
|
(IN
THOUSANDS)
|
2024
|
|
2023
|
Cost of
revenue
|
$
124
|
|
$
84
|
Sales and
marketing
|
5,738
|
|
3,887
|
Technology and
development
|
4,399
|
|
3,170
|
General and
administrative
|
5,477
|
|
4,165
|
Total stock-based
compensation
|
$
15,738
|
|
$
11,306
|
INTEGRAL AD SCIENCE
HOLDING CORP.
CONDENSED
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS'
EQUITY
(UNAUDITED)
|
|
|
|
Three Months Ended
March 31, 2024
|
|
|
|
|
Common
Stock
|
|
|
|
|
|
|
|
|
(IN THOUSANDS,
EXCEPT SHARES)
|
|
Shares
|
|
Amount
|
|
Additional
paid-in
capital
|
|
Accumulated
other
comprehensive
loss
|
|
Retained
earnings
|
|
Total
stockholders'
equity
|
Balance, December
31, 2023
|
|
158,757,620
|
|
$
159
|
|
$
901,259
|
|
$
(916)
|
|
$
8,954
|
|
$
909,456
|
RSUs and MSUs
vested
|
|
806,546
|
|
1
|
|
—
|
|
—
|
|
—
|
|
1
|
Option
exercises
|
|
44,049
|
|
—
|
|
313
|
|
—
|
|
—
|
|
313
|
ESPP
purchase
|
|
153,239
|
|
—
|
|
1,895
|
|
—
|
|
—
|
|
1,895
|
Stock-based
compensation
|
|
—
|
|
—
|
|
15,725
|
|
—
|
|
—
|
|
15,725
|
Foreign currency
translation adjustment
|
|
—
|
|
—
|
|
—
|
|
(1,059)
|
|
—
|
|
(1,059)
|
Net loss
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(1,255)
|
|
(1,255)
|
Balance, March 31,
2024
|
|
159,761,454
|
|
$
160
|
|
$
919,192
|
|
$
(1,975)
|
|
$
7,699
|
|
$
925,076
|
|
|
Three Months Ended
March 31, 2023
|
|
|
|
|
|
Common
Stock
|
|
|
|
|
|
|
|
|
(IN THOUSANDS,
EXCEPT SHARES)
|
|
Shares
|
|
Amount
|
|
Additional
paid-in
capital
|
|
Accumulated
other
comprehensive
loss
|
|
Retained
earnings
|
|
Total
stockholders'
equity
|
Balance, December
31, 2022
|
|
153,990,128
|
|
$
154
|
|
$
810,186
|
|
$
(2,899)
|
|
$
775
|
|
$
808,216
|
RSUs vested
|
|
371,740
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
Option
exercises
|
|
338,949
|
|
—
|
|
2,115
|
|
—
|
|
—
|
|
2,115
|
ESPP
purchase
|
|
111,163
|
|
—
|
|
882
|
|
—
|
|
—
|
|
882
|
Stock-based
compensation
|
|
—
|
|
—
|
|
11,315
|
|
—
|
|
—
|
|
11,315
|
Foreign currency
translation adjustment
|
|
—
|
|
—
|
|
—
|
|
1,149
|
|
—
|
|
1,149
|
Adoption of ASC 326,
net of tax
|
|
—
|
|
—
|
|
—
|
|
—
|
|
941
|
|
941
|
Net income
|
|
—
|
|
—
|
|
—
|
|
—
|
|
3,146
|
|
3,146
|
Balance, March 31,
2023
|
|
154,811,980
|
|
$
154
|
|
$
824,498
|
|
$
(1,750)
|
|
$
4,862
|
|
$
827,764
|
INTEGRAL AD SCIENCE HOLDING
CORP.
CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS
(UNAUDITED)
|
|
|
|
Three Months Ended
March 31,
|
(IN
THOUSANDS)
|
|
2024
|
|
2023
|
Cash flows from
operating activities:
|
|
|
|
|
Net (loss)
income
|
|
$
(1,255)
|
|
$
3,146
|
Adjustments to
reconcile net (loss) income to net cash (used in) provided by
operating activities:
|
|
|
|
|
Depreciation and
amortization
|
|
15,080
|
|
12,825
|
Stock-based
compensation
|
|
15,738
|
|
11,306
|
Foreign currency loss
(gain), net
|
|
1,395
|
|
(678)
|
Deferred tax
benefit
|
|
(5)
|
|
(2,767)
|
Amortization of debt
issuance costs
|
|
116
|
|
116
|
(Reversal of)
allowance for credit losses
|
|
(188)
|
|
514
|
Changes in operating
assets and liabilities:
|
|
|
|
|
Decrease in accounts
receivable
|
|
6,436
|
|
6,642
|
Decrease in unbilled
receivables
|
|
3,167
|
|
1,292
|
(Increase) decrease in
prepaid expenses and other current assets
|
|
(13,759)
|
|
3,063
|
(Increase) decrease in
operating leases, net
|
|
(202)
|
|
20
|
Decrease (increase) in
other long-term assets
|
|
19
|
|
(19)
|
Decrease in accounts
payable and accrued expenses and other long-term
liabilities
|
|
(28,278)
|
|
(13,073)
|
Increase in deferred
revenue
|
|
644
|
|
522
|
(Decrease) increase in
due to/from related party
|
|
(39)
|
|
47
|
Net cash (used in)
provided by operating activities
|
|
(1,131)
|
|
22,956
|
Cash flows from
investing activities:
|
|
|
|
|
Purchase of property
and equipment
|
|
(1,128)
|
|
(1,282)
|
Acquisition and
development of internal use software and other
|
|
(9,163)
|
|
(7,060)
|
Net cash used in
investing activities
|
|
(10,291)
|
|
(8,342)
|
Cash flows from
financing activities:
|
|
|
|
|
Proceeds from the
Revolver
|
|
—
|
|
75,000
|
Repayment of long-term
debt
|
|
(30,000)
|
|
(85,000)
|
Proceeds from exercise
of stock options
|
|
313
|
|
2,115
|
Cash received from
Employee Stock Purchase Program
|
|
1,393
|
|
787
|
Net cash used in
financing activities
|
|
(28,294)
|
|
(7,098)
|
Net (decrease) increase
in cash, cash equivalents, and restricted cash
|
|
(39,716)
|
|
7,516
|
Effect of exchange rate
changes on cash, cash equivalents and restricted cash
|
|
(847)
|
|
305
|
Cash, cash equivalents
and restricted cash at beginning of period
|
|
127,290
|
|
89,671
|
Cash, cash
equivalents, and restricted cash, at end of period
|
|
$
86,727
|
|
$
97,492
|
Supplemental
Disclosures:
|
|
|
|
|
Net cash paid during
the period for:
|
|
|
|
|
Interest
|
|
$
1,879
|
|
$
3,004
|
Taxes
|
|
$
268
|
|
$
935
|
Non-cash investing
and financing activities:
|
|
|
|
|
Property and equipment
acquired included in accounts payable
|
|
$
2
|
|
$
433
|
Internal use software
acquired included in accounts payable
|
|
$
573
|
|
$
1,309
|
Lease liabilities
arising from right of use assets
|
|
$
189
|
|
$
—
|
Supplemental Disclosure Regarding Non-GAAP Financial
Information
We use supplemental measures of our performance, which are
derived from our consolidated financial information, but which are
not presented in our consolidated financial statements prepared in
accordance with GAAP. Adjusted EBITDA is the primary financial
performance measure used by management to evaluate our business and
monitor ongoing results of operations. Adjusted EBITDA is defined
as income/loss before depreciation and amortization, stock-based
compensation, interest expense, income taxes, restructuring and
severance costs, acquisition and integration costs, foreign
exchange gains and losses, and other one-time, non-recurring costs.
Adjusted EBITDA margin represents the adjusted EBITDA for the
applicable period divided by the revenue for that period presented
in accordance with GAAP.
We use non-GAAP financial measures to supplement financial
information presented on a GAAP basis. We believe that excluding
certain items from our GAAP results allows management to better
understand our consolidated financial performance from period to
period and better project our future consolidated financial
performance as forecasts are developed at a level of detail
different from that used to prepare GAAP-based financial measures.
Moreover, we believe these non-GAAP financial measures provide our
shareholders with useful information to help them evaluate our
operating results by facilitating an enhanced understanding of our
operating performance and enabling them to make more meaningful
period-to-period comparisons. Although we believe these measures
are useful to investors and analysts for the same reasons they are
useful to management, these measures are not a substitute for, or
superior to, U.S. GAAP financial measures or disclosures. Our
non-GAAP financial measures may not be comparable to similarly
titled measures of other companies. Other companies, including
companies in our industry, may calculate non-GAAP financial
measures differently than we do, limiting the usefulness of those
measures for comparative purposes.
Reconciliation of historical Adjusted EBITDA and corresponding
margin to their most directly comparable GAAP financial measures,
net income/loss and corresponding margin are presented below. We
encourage you to review the reconciliations in conjunction with the
presentation of the non-GAAP financial measures for each of the
periods presented. In future fiscal periods, we may exclude such
items and may incur income and expenses similar to these excluded
items.
Reconciliation of
Adjusted EBITDA
|
|
|
|
Three Months Ended
March 31,
|
(IN THOUSANDS,
EXCEPT PERCENTAGES)
|
|
2024
|
|
2023
|
Net (loss)
income
|
|
$
(1,255)
|
|
$
3,146
|
Depreciation and
amortization
|
|
15,080
|
|
12,825
|
Stock-based
compensation
|
|
15,738
|
|
11,306
|
Interest expense,
net
|
|
1,926
|
|
3,417
|
(Benefit) provision
from income taxes
|
|
(134)
|
|
3,026
|
Acquisition,
restructuring and integration costs
|
|
126
|
|
811
|
Foreign exchange loss
(gain), net
|
|
1,569
|
|
(516)
|
Asset impairments and
other costs
|
|
—
|
|
38
|
Adjusted
EBITDA
|
|
$
33,050
|
|
$
34,053
|
Revenue
|
|
$ 114,530
|
|
$ 106,092
|
Net (loss) income
margin
|
|
(1) %
|
|
3 %
|
Adjusted EBITDA
margin
|
|
29 %
|
|
32 %
|
Conference Call and Webcast Information
IAS will host
a conference call and live webcast to discuss its first quarter
2024 financial results today at 5:00 p.m.
ET. To access the live webcast and conference call dial-in,
please register under the "News & Events" section of IAS's
investor relations website. A replay will be available on IAS's
investor relations website following the live call:
https://investors.integralads.com.
About Integral Ad Science
Integral Ad Science (IAS) is
a leading global media measurement and optimization platform that
delivers the industry's most actionable data to drive superior
results for the world's largest advertisers, publishers, and media
platforms. IAS's software provides comprehensive and enriched data
that ensures ads are seen by real people in safe and suitable
environments, while improving return on ad spend for advertisers
and yield for publishers. Our mission is to be the global benchmark
for trust, safety, and transparency in digital media quality. For
more information, visit integralads.com.
Forward-Looking Statements
This earnings press release
contains forward-looking statements that are subject to risks and
uncertainties. All statements other than statements of historical
fact included in this press release are forward-looking statements.
Forward-looking statements give our current expectations and
projections relating to our financial condition, results of
operations, plans, objectives, future performance, including
guidance, and business, including pipeline and industry trends. You
can identify forward-looking statements by the fact that they do
not relate strictly to historical or current facts. These
statements may include words such as "anticipate," "estimate,"
"expect," "project," "plan," "intend," "believe," "may," "will,"
"should," "can have," "likely," and other words and terms of
similar meaning in connection with any discussion of the timing or
nature of future operating or financial performance or other
events. For example, all statements we make relating to our
estimated and projected costs, expenditures, cash flows, growth
rates and financial results or our plans and objectives for future
operations, growth initiatives or strategies are forward-looking
statements. All forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those that we expected, including: (i) the adverse effect on
our business, operating results, financial condition, and prospects
from various macroeconomic factors, including instability in
geopolitical or market conditions; (ii) our failure to innovate or
make the right investment decisions; (iii) our ability to provide
digital or cross-platform analytics; (iv) our failure to maintain
or achieve industry accreditation standards; (v) our dependence on
integrations with advertising platforms, demand side providers
("DSPs") and proprietary platforms that we do not control; (vi) our
ability to compete successfully with our current or future
competitors in an intensely competitive market; (vii) our inability
to use software licensed from third parties; (viii) our
international expansion; (ix) our ability to expand into new
channels; (x) our ability to sustain our profitability and revenue
growth rate; (xi) risks that our customers do not pay or choose to
dispute their invoices; (xii) risks of material changes to revenue
share agreements with certain DSPs; (xiii) our dependence on the
overall demand for advertising; (xiv) our ability to effectively
manage our growth; (xv) the impact that any acquisitions we have
completed in the past and may consummate in the future, strategic
investments, or alliances may have on our business, financial
condition, and results of operations; (xvi) our ability to
successfully execute our international plans; (xvii) the risks
associated with the seasonality of our market; (xviii) our ability
to maintain high impression volumes; (xix) the difficulty in
evaluating our future prospects given our short operating history;
(xx) uncertainty in how the market for buying digital advertising
verification solutions will evolve; (xxi) interruption by man-made
problems such as terrorism, computer viruses, or social
disruptions; (xxii) the risk of failures in the systems and
infrastructure supporting our solutions and operations; (xxiii) our
ability to avoid operational, technical, and performance issues
with our platform; (xxiv) risks associated with any unauthorized
access to user, customer, or inventory and third-party provider
data; (xxv) our ability to provide the non-proprietary technology,
software, products, and services that we use; (xxvi) the risk that
we are sued by third parties for alleged infringement,
misappropriation, or other violation of their proprietary rights;
(xxvii) our ability to obtain, maintain, protect, or enforce
intellectual property and proprietary rights that are important to
our business; (xxviii) our involvement in lawsuits to protect or
enforce our intellectual property; (xxix) risks that our employees,
consultants, or advisors have wrongfully used or disclosed
alleged trade secrets of their current or former
employers; (xxx) risks that our trademarks and trade names are not
adequately protected; (xxxi) the impact of unforeseen changes to
privacy and data protection laws and regulation on digital
advertising; (xxxii) our ability to maintain our corporate culture;
(xxxiii) public health outbreaks, epidemics, pandemics, or other
public health crises; (xxxiv) risks posed by earthquakes, fires,
floods, and other natural catastrophic events; (xxxv) the risk that
a perceived failure to comply with laws and industry
self-regulation may damage our reputation; and (xxxvi) other
factors disclosed in our filings with the SEC. Given these factors,
as well as other variables that may affect our operating results,
you should not rely on forward-looking statements, assume that past
financial performance will be a reliable indicator of future
performance, or use historical trends to anticipate results or
trends in future periods.
We derive many of our forward-looking statements from our
operating budgets and forecasts, which are based on many detailed
assumptions. While we believe that our assumptions are reasonable,
we caution that it is very difficult to predict the impact of known
factors, and it is impossible for us to anticipate all factors that
could affect our actual results. The forward-looking statements
included in this press release are made only as of the date hereof.
We undertake no obligation to update or revise any forward-looking
statement as a result of new information, future events or
otherwise, except as otherwise required by law.
Investor Contact:
Jonathan
Schaffer
ir@integralads.com
Media Contact:
press@integralads.com
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SOURCE Integral Ad Science, Inc.