Teads B.v Stock Earnings Reports

Teads reported Q1 2026 revenue of ~EUR 266 million (down 7% YoY) but exceeded Ex-TAC gross profit guidance, with Ex-TAC gross profit of EUR 108 million (up 5% YoY). Management emphasized that the merged Outbrain-Teads business is now an "omnichannel outcomes platform," combining premium CTV/home-screen inventory, first-party signals, AI-driven creative, and performance algorithms to serve both enterprise (≈80% of Ex-TAC; global brands/agencies) and direct response (≈20% of Ex-TAC) customers. CTV was a key growth driver, with CTV revenue up >50% YoY and strengthened OEM/home-screen partnerships (LG, Samsung, Google TV). Omnichannel campaigns are increasing (13% of campaigns vs. 8% a year ago). Cost and restructuring actions have reduced compensation run rate >20% YoY; operating expense tailwinds plus mix shifts drove Ex-TAC gross profit growth outpacing revenue. Cash at quarter-end was $99 million; adjusted EBITDA was ~$1 million in Q1 and adjusted free cash flow was a EUR 41 million use (driven by semi-annual interest payment timing and working capital). Management reiterated a full-year adjusted EBITDA target of approximately $100 million and Q2 Ex-TAC gross profit guidance of $121–$131 million with Q2 adjusted EBITDA guidance of $14–$22 million. They are actively optimizing go-to-market coverage (agency integrations, new U.S. leadership) and evaluating opportunistic capital-structure alternatives to strengthen the balance sheet. Management expects continued improvement through H2 2026 as prior-year cleanup impacts ease.