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- Business Insider The US has experienced low inflation for the last few years, but that may be changing. Here are news, articles, and videos on inflation and its effects on the US economy.
Turkey's Consumer Price Index (CPI), excluding energy, food, beverages, tobacco, and gold, saw a modest decrease from 45.3% in December 2024 to 42.6% in January 2025. The annual inflation figures, updated on February 3, 2025, indicate a continued, albeit cautious, relief in Turkey's inflation rate when compared to the same month in the previous year.The release of these figures points to a slight improvement within the Turkish economy, as policymakers and economists meticulously analyze the forces behind the easing of inflation. This decrease marks a progressive step away from the pressures seen in December, offering a glimmer of optimism to a nation grappling with broader economic challenges.Despite this positive movement, the year-over-year inflation rate remains considerably high, underscoring the ongoing economic complexities and the pressing need for effective policy measures. As Turkey continues to navigate its economic landscape, the spotlight remains on strategic financial planning to maintain and accelerate the momentum towards stability and growth.The material has been provided by InstaForex Company - www.instaforex.com
In a significant economic development, Turkey's Consumer Price Index (CPI) excluding energy, food, beverages, tobacco, and gold (Ex E,F,B,T&G) for January 2025 surged to 5.6%, indicating a substantial increase from December's comparatively modest rise of 1.1%. This dramatic leap underscores mounting inflationary pressures within the Turkish economy as the nation grapples with various economic challenges.The data, updated on February 3, 2025, highlights a pronounced month-over-month escalation, signaling that inflation factors not only persist but have intensified significantly as the new year unfolds. While the December 2024 figure showed a controlled yet concerning rise, January's data presents a more alarming picture of the underlying economic dynamics.As Turkey navigates this economic landscape, the substantial jump in core inflation metrics could have far-reaching implications for policymakers and the economy at large. Analysts will be watching closely to see how Turkish authorities respond to curtail these inflationary pressures and stabilize the economic environment, with potential policy adjustments on the horizon to mitigate further economic disruptions.The material has been provided by InstaForex Company - www.instaforex.com
Eurozone Inflation RisesEURUSD is back in the green today following a sharp move lower in response to news of Trump’s trade tariffs on Mexico, Canada and China over the weekend. Expectations of similar levies to be applied to eurozone goods are
JOHNS CREEK, Ga., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering national less-than-truckload (LTL), non-asset truckload, expedited and logistics services, today reported fourth quarter 2024 financial results. Diluted earnings per share for the quarter were $2.84 compared to $3.33 in the fourth quarter of 2023. Full year diluted earnings per share were $13.51 in 2024 compared to $13.26 in 2023. Highlights from the fourth quarter and full year operating results were as follows: Fourth Quarter 2024 Compared to Fourth Quarter 2023 Results Revenue was $789.0 million, a 5.0% increaseOperating income was $101.5 million, a 9.9% decreaseOperating ratio of 87.1% compared to 85.0%LTL shipments per workday increased 4.5%LTL tonnage per workday increased 8.3%LTL revenue per hundredweight, excluding fuel surcharge revenue, decreased 2.3%LTL revenue per shipment, excluding fuel surcharge revenue, increased 1.3% Full Year 2024 Compared to Full Year 2023 Results Revenue was $3.2 billion, an 11.4% increaseOperating income was $482.2 million, a 4.7% increaseOperating ratio of 85.0% compared to 84.0%LTL shipments per workday increased 11.5%LTL tonnage per workday increased 8.0%LTL revenue per hundredweight, excluding fuel surcharge revenue, increased 4.3%LTL revenue per shipment, excluding fuel surcharge revenue, increased 1.1% Saia President and CEO, Fritz Holzgrefe, commented on the year stating, “I am pleased with the progress we made this year, as we opened 21 new terminals and relocated 9 others, further enhancing our service offerings in both new and existing markets. We are proud to bring our 100th year in operation to a close with 214 terminals and our ability to provide direct service to all 48 contiguous states, positioning us as a leading national carrier. We remain focused on operational excellence and are pleased with customer acceptance thus far. We onboarded approximately 1,300 new team members during the year and closed 2024 with over 15,000 employees company-wide.” Executive Vice President and CFO, Matt Batteh, noted that, “2024 represented a record level of investment in the business, with over $1 billion in capital expenditures. Investments in real estate, equipment, technology, and most importantly, our people, represent our continued commitment to our long-term growth strategy. With 214 facilities and a national footprint, our value proposition to our customers has never been stronger.” Financial Position and Capital Expenditures We ended 2024 with $19.5 million of cash on hand and total debt of $200.3 million, which compares to $296.2 million of cash on hand and total debt of $16.5 million at December 31, 2023. Net capital expenditures were $1,040.9 million during 2024, compared to $437.2 million in net capital expenditures during 2023. 2024 capital expenditures include $235.7 million to secure properties as part of the Yellow Corporation auction process. In 2025, we anticipate that net capital expenditures will be over $700 million, subject to ongoing evaluation of market conditions. Conference Call Management will hold a conference call to discuss quarterly results today at 10:00 a.m. Eastern Time. To participate in the call, please dial 1-877-317-6789 and request to join the Saia, Inc. call. Callers should dial in five to ten minutes in advance of the conference call. This call will be webcast live via the Company website at www.saia.com/about-us/investor-relations/financial-releases. A replay of the call will be offered two hours after the completion of the call through March 3, 2025 at 11:59 P.M. Eastern Time. The replay will be available by dialing 1-877-344-7529 referencing conference ID #9091018. Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. With headquarters in Georgia, Saia LTL Freight operates 214 terminals with national service. For more information on Saia, Inc. visit the Investor Relations section at www.saia.com/about-us/investor-relations. Cautionary Note Regarding Forward-Looking Statements The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release may contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “may,” “plan,” “predict,” “believe,” “should,” “potential” and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law. All forward-looking statements reflect the present expectation of future events of our management as of the date of this news release and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors, risks, uncertainties and assumptions include, but are not limited to, (1) general economic conditions including downturns or inflationary periods in the business cycle; (2) operation within a highly competitive industry and the adverse impact from downward pricing pressures, including in connection with fuel surcharges, and other factors; (3) industry-wide external factors largely out of our control; (4) cost and availability of qualified drivers, dock workers, mechanics and other employees, purchased transportation and fuel; (5) inflationary increases in operating expenses and corresponding reductions of profitability; (6) cost and availability of diesel fuel and fuel surcharges; (7) cost and availability of insurance coverage and claims expenses and other expense volatility, including for personal injury, cargo loss and damage, workers’ compensation, employment and group health plan claims; (8) failure to successfully execute the strategy to expand our service geography; (9) unexpected liabilities resulting from the acquisition of real estate assets; (10) costs and liabilities from the disruption in or failure of our technology or equipment essential to our operations, including as a result of cyber incidents, security breaches, malware or ransomware attacks; (11) failure to keep pace with technological developments; (12) liabilities and costs arising from the use of artificial intelligence; (13) labor relations, including the adverse impact should a portion of our workforce become unionized; (14) cost, availability and resale value of real property and revenue equipment; (15) supply chain disruption and delays on new equipment delivery; (16) capacity and highway infrastructure constraints; (17) risks arising from international business operations and relationships; (18) seasonal factors, harsh weather and disasters caused by climate change; (19) economic declines in the geographic regions or industries in which our customers operate; (20) the creditworthiness of our customers and their ability to pay for services; (21) our need for capital and uncertainty of the credit markets; (22) the possibility of defaults under our debt agreements, including violation of financial covenants; (23) inaccuracies and changes to estimates and assumptions used in preparing our financial statements; (24) failure to operate and grow acquired businesses in a manner that support the value allocated to acquired businesses; (25) dependence on key employees; (26) employee turnover from changes to compensation and benefits or market factors; (27) increased costs of healthcare benefits; (28) damage to our reputation from adverse publicity, including from the use of or impact from social media; (29) failure to make future acquisitions or to achieve acquisition synergies; (30) the effect of litigation and class action lawsuits arising from the operation of our business, including the possibility of claims or judgments in excess of our insurance coverages or that result in increases in the cost of insurance coverage or that preclude us from obtaining adequate insurance coverage in the future; (31) the potential of higher corporate taxes and new regulations, including with respect to climate change, employment and labor law, healthcare and securities regulation; (32) the effect of governmental regulations, including hours of service and licensing compliance for drivers, engine emissions, the Compliance, Safety, Accountability (CSA) initiative, regulations of the Food and Drug Administration and Homeland Security, and healthcare and environmental regulations; (33) unforeseen costs from new and existing data privacy laws; (34) costs from new and existing laws regarding how to classify workers; (35) changes in accounting and financial standards or practices; (36) widespread outbreak of an illness or any other communicable disease; (37) international conflicts and geopolitical instability; (38) increasing investor and customer sensitivity to social and sustainability issues, including climate change; (39) provisions in our governing documents and Delaware law that may have anti-takeover effects; (40) issuances of equity that would dilute stock ownership; (41) weakness, disruption or loss of confidence in financial or credit markets; and (42) other financial, operational and legal risks and uncertainties detailed from time to time in the Company’s SEC filings. As a result of these and other factors, no assurance can be given as to our future results and achievements. Accordingly, a forward-looking statement is neither a prediction nor a guarantee of future events or circumstances and those future events or circumstances may not occur. You should not place undue reliance on the forward-looking statements, which speak only as of the date of this news release. We are under no obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law. CONTACT: Saia, Inc.Matthew BattehExecutive Vice President and Chief Financial OfficerInvestors@saia.com Saia, Inc. and SubsidiariesCondensed Consolidated Balance Sheets(Amounts in thousands)(Unaudited) December 31, 2024 December 31, 2023Assets Current Assets: Cash and cash equivalents$19,473 $296,215 Accounts receivable, net 322,991 311,742 Prepaid expenses and other 93,305 40,737 Total current assets 435,769 648,694 Property and Equipment: Cost 3,790,069 2,881,800 Less: accumulated depreciation 1,233,134 1,118,492 Net property and equipment 2,556,935 1,763,308 Operating Lease Right-of-Use Assets 126,828 118,734 Other Assets 47,325 52,829 Total assets$3,166,857 $2,583,565 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable$114,560 $141,877 Wages, vacation and employees' benefits 49,953 75,514 Other current liabilities 81,162 68,735 Current portion of long-term debt 5,313 10,173 Current portion of operating lease liability 27,372 25,757 Total current liabilities 278,360 322,056 Other Liabilities: Long-term debt, less current portion 194,981 6,315 Operating lease liability, less current portion 96,798 96,462 Deferred income taxes 219,062 155,841 Claims, insurance and other 66,385 61,397 Total other liabilities 577,226 320,015 Stockholders' Equity: Common stock 27 27 Additional paid-in capital 295,106 285,092 Deferred compensation trust (7,981) (5,679)Retained earnings 2,024,119 1,662,054 Total stockholders' equity 2,311,271 1,941,494 Total liabilities and stockholders' equity$3,166,857 $2,583,565 Saia, Inc. and SubsidiariesConsolidated Statements of OperationsFor the Quarters and Years Ended December 31, 2024 and 2023(Amounts in thousands, except per share data)(Unaudited) Fourth Quarter Years 2024 2023 2024 2023 Operating Revenue$788,952 $751,132 $3,209,074 $2,881,433 Operating Expenses: Salaries, wages and employees' benefits 375,760 345,831 1,487,847 1,301,280 Purchased transportation 58,168 65,444 237,306 238,688 Fuel, operating expenses and supplies 153,467 144,291 629,402 563,688 Operating taxes and licenses 20,727 18,002 80,128 69,542 Claims and insurance 22,084 18,945 77,649 67,984 Depreciation and amortization 54,064 45,689 210,105 178,845 Other operating, net 3,198 267 4,477 910 Total operating expenses 687,468 638,469 2,726,914 2,420,937 Operating Income 101,484 112,663 482,160 460,496 Nonoperating (Income) Expenses: Interest expense 2,979 935 8,930 2,535 Interest income (139) (3,158) (1,049) (6,208)Other, net (155) (722) (1,729) (2,058)Nonoperating (income) expenses, net 2,685 (2,945) 6,152 (5,731) Income Before Income Taxes 98,799 115,608 476,008 466,227 Income Tax Provision 22,696 26,380 113,943 111,370 Net Income$76,103 $89,228 $362,065 $354,857 Weighted average common shares outstanding - basic 26,699 26,648 26,689 26,632 Weighted average common shares outstanding - diluted 26,811 26,785 26,802 26,763 Basic earnings per share$2.85 $3.35 $13.57 $13.32 Diluted earnings per share$2.84 $3.33 $13.51 $13.26 Saia, Inc. and SubsidiariesCondensed Consolidated Statements of Cash FlowsFor the twelve months ended December 31, 2024 and 2023(Amounts in thousands)(Unaudited) Years 2024 2023 Operating Activities: Net cash provided by operating activities$583,702 $577,945 Net cash provided by operating activities 583,702 577,945 Investing Activities: Acquisition of property and equipment (1,043,557) (439,879)Proceeds from disposal of property and equipment 2,694 2,727 Other 4,999 (11,544)Net cash used in investing activities (1,035,864) (448,696)Financing Activities: Borrowing of revolving credit facility, net 94,000 – Borrowing of private shelf agreement 100,000 – Proceeds from stock option exercises 2,574 4,875 Shares withheld for taxes (9,107) (9,216)Other financing activity (12,047) (16,083)Net cash provided by (used in) financing activities 175,420 (20,424)Net (Decrease) Increase in Cash and Cash Equivalents (276,742) 108,825 Cash and Cash Equivalents, beginning of period 296,215 187,390 Cash and Cash Equivalents, end of period$19,473 $296,215 Saia, Inc. and SubsidiariesFinancial InformationFor the Quarters Ended December 31, 2024 and 2023(Unaudited) Fourth Quarter Fourth Quarter % Amount/Workday % 2024 2023 Change 2024 2023 ChangeWorkdays 62 61 Operating ratio 87.1% 85.0% LTL tonnage (1) 1,481 1,345 10.1 23.89 22.05 8.3 LTL shipments (1) 2,174 2,047 6.2 35.06 33.56 4.5 LTL revenue/cwt.$25.73 $27.21 (5.4) LTL revenue/cwt., excluding fuel surcharge$21.96 $22.47 (2.3) LTL revenue/shipment$350.51 $357.50 (2.0) LTL revenue/shipment, excluding fuel surcharge$299.17 $295.22 1.3 LTL pounds/shipment 1,362 1,314 3.7 LTL length of haul (2) 898 895 0.3 (1) In thousands.(2) In miles.Note: LTL operating statistics exclude transportation and logistics services where pricing is generally not determined by weight. The LTL operating statistics also exclude the adjustment required for financial statement purposes in accordance with the Company's revenue recognition policy. Saia, Inc. and Subsidiaries Financial Information For the Years Ended December 31, 2024 and 2023 (Unaudited) Year Over Year Year Over Year % Amount/Workday % 2024 2023 Change 2024 2023 ChangeWorkdays 254 252 Operating ratio 85.0% 84.0% LTL tonnage (1) 6,037 5,543 8.9 23.77 22.00 8.0 LTL shipments (1) 8,988 7,997 12.4 35.39 31.73 11.5 LTL revenue/cwt.$25.89 $25.38 2.0 LTL revenue/cwt., excluding fuel surcharges$21.90 $20.99 4.3 LTL revenue/shipment$347.81 $351.90 (1.2) LTL revenue/shipment, excluding fuel surcharges$294.23 $291.00 1.1 LTL pounds/shipment 1,343 1,386 (3.1) LTL length of haul (2) 891 894 (0.3) (1) In thousands.(2) In miles.
Combination Creates the Omnichannel Outcomes Platform for the Open InternetHighlights: The combination will merge two open internet category leaders to create a unified omnichannel platform that delivers outcomes from branding to performance across all screens, including CTV, mobile and web. The new company will operate under the name Teads.The union creates one of the largest open internet companies, with combined advertising spend of approximately $1.7 billion (FY24), reaching 2.2 billion consumers.The company will unite two of the richest contextual and interest data sets on the open internet, powering an advanced AI prediction engine to optimize advertiser outcomes.Outbrain CEO, David Kostman, will serve as CEO of the combined company, with Jeremy Arditi and Bertrand Quesada, former Teads CEOs, assuming the roles of Co-President, Chief Business Officer of the Americas and International respectively.The two companies are preliminarily reporting a combined Ex-TAC Gross Profit of $623 million and Adjusted EBITDA of $230 million in 2024 including $65-75 million of estimated synergies1.Transaction value of approximately $900 million, comprised of $625 million in cash and 43.75 million Outbrain shares.Altice, selling shareholder of Teads, will nominate two out of a total of 10 board members.Outbrain is providing selected preliminary results for the fourth quarter, in line with previously issued guidance in Outbrain’s November 2024 earnings call, and selected preliminary results for Teads and the combined company. NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Outbrain Inc. (NASDAQ: OB) today announced the closing of its acquisition of Teads, following receipt of all necessary regulatory approvals. The two companies will merge their respective branding and performance offerings to create the omnichannel outcomes platform for the open internet, and will operate under the name Teads. The new Teads will create one of the largest optimized supply paths on the premium open internet, with a focus on connecting curated, exclusive media environments with elevated, data-driven creative experiences. The combined company offering will be strengthened by Outbrain’s proprietary predictive technology and AI optimization. It will provide a solution for marketers to leverage a single partner to deliver concrete outcomes at every step of the marketing funnel— offering unique ways to combine advertising solutions from awareness to sales. The company’s combined data set will power expanded contextual, audience and purchase-based targeting capabilities, connecting CTV experiences to digital moments to drive measurable outcomes. “I am extremely excited about this new chapter in our journey. This transformative merger creates a company that directly addresses a large gap in the advertising industry: a scaled end-to-end platform that can drive outcomes, from branding to consideration to purchase, across screens,” said CEO, David Kostman. “Together, we are creating an extraordinary new company, combining the best of both organizations' deep expertise in omnichannel video branding solutions and performance advertising. The new Teads’ mission is to drive lasting value with an offering that invites marketers to expect better outcomes, media owners to expect sustainable value, and consumers to expect elevated experiences. I want to thank the teams of both Outbrain and Teads, who have pioneered major advertising categories, and have built leading global companies over more than a decade. It is their innovation and commitment that have brought us to this moment and will propel us to new heights,” added Kostman. Co-President & Chief Business Officer, Jeremy Arditi, added: “We’re committed to creating a solution that will harness the untapped opportunity of the open internet, and allow all of its constituents to thrive. We believe that by prioritizing beautiful creative experiences, trust and transparency in media, and delivery of meaningful outcomes, we can create a stronger ecosystem that provides value for all.” "The merger between Teads and Outbrain makes a lot of sense strategically. We look forward to exploring the new possibilities this provides us with to reach our audiences in a new and interesting way, to deliver full funnel solutions and better business outcomes," said Sital Banerjee, Global Head of Integrated Media, Performance Marketing, and BMI Management at Lipton Teas and Infusions. Key Combined Strengths With the completion of the combination, the new Teads will offer clients and partners: Exceptional reach at great scale, across exclusive environments 96 percent open internet audience reach*Number one most direct supply path, as rated by Jounce**Direct access to 10,000 media environmentConnected to the top 4 OEMs and several of the top Streaming Apps unlocking access to 50bn CTV Monthly Ad Opportunities, including unique CTV homescreen inventoryProprietary code-on-page relationships with premium editorial properties globally, providing access to incremental inventory and yielding extensive audience interest and engagement insights Creatives built for outcomes Data-driven, beautiful creative solutions designed to connect brand moments across the marketing funnel — from CTV to editorial and beyondProven impact from unique experiences, with 74 percent higher attention for unique CTV native creativeStrategic Joint Business Partnerships with more than 50 of the world’s most premium brands AI-powered predictive technology Proprietary prediction engine, cultivated over 18+ years to drive performance outcomes, making 1 billion predictions each minute4 billion signals processed each minute via AI and machine learning50 live AI models Expansive omnichannel graph, expanded on the Teads Omnichannel Graph foundation The Teads Omnichannel Graph (OG), a proprietary tool extending contextual and audience-targeting capabilities into the CTV environment, will be further expanded by Outbrain engagement, interest, and conversion dataExtensive data signals feeding an understanding of audiences across screens, including: 130,000 articles scanned per minute500,000 CTV programs enriched with data per month1 billion engagement and contextual signals processed each minute *According to Comscore, Media Metrix, Key Metrix, US, December 2024 for Teads. **According to 2024 Jounce SPO analyses, specific to Teads platform. Transaction Details Outbrain, Altice and Teads have amended the previously announced share purchase agreement, dated August 1, 2024. Under the terms of the revised agreement, Outbrain will be paying a total consideration of approximately $900 million, consisting of $625 million upfront cash and 43.75 million shares of common stock of Outbrain (valued at approximately $263 million based on the closing price of Outbrain’s common stock as of January 31, 2025, of $6.01). Under the revised terms, there is no deferred cash payment or convertible preferred equity component. The revised terms have meaningfully reduced the level of required debt financing and simplified the transaction structure. Outbrain intends to finance the transaction with existing cash resources and $625 million in committed debt financing from Goldman Sachs Bank USA, Jefferies Finance LLC and Mizuho Bank, Ltd., subject to customary funding conditions. Outbrain will also issue to Altice 43.75 million shares of common stock. Altice will nominate two directors to the board of Outbrain and will be bound by a stockholder agreement with Outbrain containing arrangements and restrictions concerning voting and disposition of the shares issued to Altice. Financial Highlights Preliminary Estimated Unaudited Financial Information for the Quarter and Year Ended December 31, 2024 Today Outbrain is furnishing on Form 8-K selected preliminary estimated unaudited financial information for each of Outbrain and Teads on a standalone basis and on a combined company basis for the quarter and year ended December 31, 2024. Excerpts of such financial information can be found below. You are encouraged to refer to the Form 8-K and other documents filed or furnished by Outbrain with the SEC through the website maintained by the SEC at www.sec.gov. The Company previously announced its expectation to achieve $50 – 60 million of annual revenue and cost synergies in the second full year following completion of the acquisition, with further opportunities for expanded synergies in the following years. The Company now expects to realize approximately $65 – 75 million of annual synergies in FY 2026 with further opportunities for expanded synergies in the following years. Of this amount, approximately $60 million relates to cost synergies, including approximately $45 million of compensation related expenses. The Company plans to action approximately 70% of the compensation related expense savings during the first month post-closing. The upsize in expected synergies follows a robust integration planning process, enabling a larger and more rapid synergy capture. Outbrain is providing selected preliminary results for the fourth quarter and full year 2024, as follows: Ex-TAC gross profit of $68.3 million for Q4 2024, and $236.1 million for FY 2024Adjusted EBITDA of $17.0 million for Q4 2024, and $37.3 million for FY 2024 For Teads, we are providing the following selected preliminary results for the fourth quarter and full year 2024, as follows: Ex-TAC gross profit of $119.9 million for Q4 2024, and $386.6 million for FY 2024Adjusted EBITDA of $52.2 million for Q4 2024, and $122.7 million for FY 2024 The two companies are preliminarily reporting a combined Ex-TAC Gross Profit of approximately $623 million and Adjusted EBITDA of approximately $230 million in 2024, including $65-75 million of estimated synergies2. Conference Call and Webcast:Outbrain will host an investor conference call this morning, Monday, February 3rd at 9:00 am ET. Interested parties are invited to listen to the conference call which can be accessed live by phone by dialing 1-877-497-9071 or for international callers, 1-201-689-8727. A replay will be available two hours after the call and can be accessed by dialing 1-877-660-6853, or for international callers, 1-201-612-7415. The passcode for the live call and the replay is 13751603. The replay will be available until February 17, 2025. Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investors Relations section of the Company’s website at https://investors.outbrain.com. The online replay will be available for a limited time shortly following the call. Cautionary Note About Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the U.S. federal securities laws and the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. These statements are based on current expectations, estimates, forecasts and projections about the industries in which Outbrain and Teads operate, and beliefs and assumptions of Outbrain’s management. Forward-looking statements may include, without limitation, statements regarding possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives, expected synergies and statements of a general economic or industry-specific nature. You can generally identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “foresee,” “potential” or “continue” or the negative of these terms or other similar expressions that concern our expectations, strategy, plans or intentions, or are not statements of historical fact. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors including, but not limited to: risks that the acquisition disrupts current plans and operations or diverts management’s attention from its ongoing business; the initiation or outcome of any legal proceedings that may be instituted against Outbrain or Teads, or their respective directors or officers, related to the acquisition; unexpected costs, charges or expenses resulting from the acquisition; the ability of Outbrain to successfully integrate Teads’ operations, technologies and employees; the ability to realize anticipated benefits and synergies of the acquisition, including the expectation of enhancements to Outbrain’s services, greater revenue or growth opportunities, operating efficiencies and cost savings; overall advertising demand and traffic generated by Outbrain and the combined company’s media partners; factors that affect advertising demand and spending, such as the continuation or worsening of unfavorable economic or business conditions or downturns, instability or volatility in financial markets, and other events or factors outside of Outbrain and the combined company’s control, such as U.S. and global recession concerns; geopolitical concerns, including the ongoing war between Ukraine-Russia and conditions in Israel and the Middle East; supply chain issues; inflationary pressures; labor market volatility; bank closures or disruptions; the impact of challenging economic conditions; political and policy uncertainties; and other factors that have and may further impact advertisers’ ability to pay; Outbrain and the combined company’s ability to continue to innovate, and adoption by Outbrain and the combined company’s advertisers and media partners of expanding solutions; the success of Outbrain and the combined company’s sales and marketing investments, which may require significant investments and may involve long sales cycles; Outbrain and the combined company’s ability to grow their business and manage growth effectively; the ability to compete effectively against current and future competitors; the loss or decline of one or more large media partners, and Outbrain and the combined company’s ability to expand advertiser and media partner relationships; conditions in Israel, including the ongoing war between Israel and Hamas and other terrorist organizations, may limit Outbrain and the combined company’s ability to market, support and innovate their products due to the impact on employees as well as advertisers and advertising markets; Outbrain and the combined company’s ability to maintain revenues or profitability despite quarterly fluctuations in results, whether due to seasonality, large cyclical events or other causes; the risk that research and development efforts may not meet the demands of a rapidly evolving technology market; any failure of Outbrain or the combined company’s recommendation engine to accurately predict attention or engagement, any deterioration in the quality of Outbrain or the combined company’s recommendations or failure to present interesting content to users or other factors which may cause us to experience a decline in user engagement or loss of media partners; limits on Outbrain and the combined company’s ability to collect, use and disclose data to deliver advertisements; Outbrain and the combined company’s ability to extend their reach into evolving digital media platforms; Outbrain and the combined company’s ability to maintain and scale their technology platform; the ability to meet demands on our infrastructure and resources due to future growth or otherwise; the failure or the failure of third parties to protect Outbrain and the combined company’s sites, networks and systems against security breaches, or otherwise to protect the confidential information of Outbrain and the combined company; outages or disruptions that impact Outbrain or the combined company or their service providers, resulting from cyber incidents, or failures or loss of our infrastructure; significant fluctuations in currency exchange rates; political and regulatory risks in the various markets in which Outbrain and the combined company operate; the challenges of compliance with differing and changing regulatory requirements; the timing and execution of any cost-saving measures and the impact on Outbrain and the combined company’s business or strategy; and the other risk factors and additional information described in the section entitled “Risk Factors”, and under the heading “Risk Factors” in Item 1A of Outbrain’s Annual Report on Form 10-K filed with the SEC on March 8, 2024 for the year ended December 31, 2023, Outbrain’s Form 10-Q filed with the SEC on August 8, 2024 for the period ended June 30, 2024, Outbrain’s Form 10-Q filed with the SEC on November 7, 2024 for the period ended September 30, 2024 and in subsequent reports filed with the SEC. Accordingly, you should not rely upon forward-looking statements as an indication of future performance. Outbrain cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or will occur, and actual results, events or circumstances could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Outbrain and the combined company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the forward-looking statements. Outbrain undertakes no obligation, and does not assume any obligation, to update any forward-looking statements, whether as a result of new information, future events or circumstances after the date on which the statements are made or to reflect the occurrence of unanticipated events or otherwise, except as required by law. About The Combined Company Outbrain Inc. (Nasdaq: OB) and Teads combined on February 3, 2025 and are operating under the new Teads brand. The new Teads is the omnichannel outcomes platform for the open internet, driving full-funnel results for marketers across premium media. With a focus on meaningful business outcomes, the combined company ensures value is driven with every media dollar by leveraging predictive AI technology to connect quality media, beautiful brand creative, and context-driven addressability and measurement. One of the most scaled advertising platforms on the open internet, the new Teads is directly partnered with more than 10,000 publishers and 20,000 advertisers globally. The company is headquartered in New York, with a global team of nearly 1,800 people in 36 countries. For more information, visit https://thenewteads.com/. Media Contact press@outbrain.com Investor Relations Contact IR@outbrain.com(332) 205-8999 Non-GAAP Reconciliations The following table presents the reconciliation of Gross profit to Ex-TAC gross profit, for the periods presented: Three Months Ended December 31, 2024 Year Ended December 31, 2024 Outbrain Teads Combined Outbrain Teads CombinedRevenue $234,586 $188,953 $423,539 $889,875 $617,435 $1,507,310 Traffic acquisition costs (166,247) (69,091) (235,338) (653,731) (230,831) (884,562)Other cost of revenue (a) (12,277) (26,441) (38,718) (44,042) (106,414) (150,456)Gross profit 56,062 93,421 149,483 192,102 280,190 472,292 Other cost of revenue (a) 12,277 26,441 38,718 44,042 106,414 150,456 Ex-TAC Gross Profit $68,339 $119,862 $188,201 $236,144 $386,604 $622,748 ___________(a) Other cost of revenue for Teads is subject to accounting policy harmonization. The following table presents the reconciliation of net income (loss) to Adjusted EBITDA, for the periods presented: Three Months Ended December 31, 2024 Year Ended December 31, 2024 Outbrain Teads Combined Outbrain Teads CombinedNet (loss) income $(167) $69,613 $69,446 $(711) $89,318 $88,607 Interest expense/financial costs 699 $116 815 3,649 1,176 4,825 Interest income and other income, net (1,522) $- (1,522) (9,209) - (9,209)Gain related to convertible debt - - - (8,782) - (8,782)Other financial income and (expenses) - (13,973) (13,973) - (26,404) (26,404)Provision for income taxes 3,525 16,143 19,668 2,415 38,256 40,671 Depreciation and amortization 4,985 3,027 8,012 19,479 12,834 32,313 Share-based compensation 3,974 (28,089) (24,115) 15,461 - 15,461 Severance costs - 393 393 742 1,593 2,335 Merger and acquisition costs 5,469 4,930 10,399 14,256 5,890 20,146 Adjusted EBITDA, excluding synergies $16,963 $52,160 $69,123 $37,300 $122,663 $159,963 The Company expects to realize approximately $65 – 75 million of annual synergies in the second full year following completion of the Acquisition. (midpoint) 70,000 Combined company Adjusted EBITDA (incl. synergies) $229,963 1Represents estimated full year 2026 Adjusted EBITDA synergies, with further opportunities for expanded synergies in the following years. Ex-TAC Gross Profit and Adjusted EBITDA are non-GAAP financial measures. See “Non-GAAP Reconciliations” below.2Represents estimated full year 2026 Adjusted EBITDA synergies, with further opportunities for expanded synergies in the following years
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