Growing Where Technology Matters Most
Income Statement ($M)
9 Months ended
Consolidated Statements Of Operations - GAAP
Q1-21
Q2-21
Display Advertising revenue
38.1
58.0
69.0
Q3-21 Q4-21
100.2
Q1-22 Q2-22 Q3-22 Q4-22
Q1-23
Q2-23 Q3-23
2021
2022
2023
68.6
81.6
86.8
123.8
79.9
99.4
99.2
165.1
236.9
278.5
Search Advertising revenue
51.7
51.6
52.0
57.8
56.7
65.1
71.8
85.9
65.3
79.1
86.1
155.4
193.7
230.5
Total Revenue
89.8
109.7
121.0
158.0
125.3
146.7
158.6
209.7
145.2
178.5
185.3
320.5
430.6
508.9
Cost of revenue
5.4
6.2
6.3
7.3
6.6
6.9
7.5
9.4
7.6
9.6
9.8
17.9
21.0
27.0
Traffic acquisition costs and media buy
54.9
66.2
73.6
93.3
71.0
86.0
93.6
122.0
79.9
101.5
108.0
194.7
250.6
289.3
Research and development
8.5
8.9
8.6
9.2
9.0
8.3
7.8
9.3
8.4
8.2
7.8
26.1
25.1
24.4
Selling and marketing
10.6
12.9
12.9
16.8
13.3
14.0
12.6
16.1
15.0
13.9
14.2
36.4
39.9
43.0
General and administrative
4.1
4.6
5.3
9.1
5.7
6.5
7.6
7.9
6.5
7.4
7.7
14.1
19.7
21.7
Changes in fair value of contingent consideration
-
(2.2)
(3.8)
14.6
2.0
(3.8)
16.6
Depreciation and amortization
2.4
2.0
1.9
3.6
3.2
3.2
3.7
3.7
3.4
3.4
3.4
6.3
10.1
10.2
Total Costs and Expenses
86.0
100.8
108.6
137.2
108.8
124.8
129.0
168.5
% of Revenues
95.8%
91.9%
89.8%
86.8%
86.8%
85.1%
81.3%
80.4%
120.6 158.6
83.1% 88.9% 82.5%
152.8
295.4
362.6
432.1
92.2%
84.2%
84.9%
Income from Operations
3.9
8.9
12.4
20.8
16.5
21.9
29.6
% of Revenues
4.3%
8.1%
10.2%
13.2%
13.2%
14.9%
18.7%
41.2
19.6%
24.5
19.9
16.9% 11.1%
32.5
17.5%
25.1
68.0
76.9
7.8%
15.8%
15.1%
Financial income (expense), net
0.2
(0.3)
(0.5)
0.6
0.9
1.0
2.0
3.4
5.2
6.1
(0.1)
2.5
14.7
Income before Taxes on income
4.1
8.6
12.4
20.3
17.1
22.8
30.6
43.2
27.9
25.0
38.6
25.0
70.5
91.5
Taxes on income
0.8
1.5
1.7
2.6
1.6
3.3
5.0
4.5
4.1
3.6
5.7
4.0
10.0
13.5
Net Income
3.3
7.1
10.6
17.7
15.5
19.5
25.6
38.7
23.8
21.4
32.8
21.0
60.5
78.0
% of Revenues
3.7%
6.5%
8.8%
11.2%
12.4%
13.3%
16.1%
18.5%
16.4%
12.0%
17.7%
6.6%
14.1%
15.3%
Net Earnings per Share - Basic
0.10
0.21
0.31
0.48
0.35
0.44
0.57
0.84
0.51
0.46
0.69
0.63
1.36
1.66
Net Earnings per Share - Diluted
0.09
0.19
0.28
0.44
0.33
0.41
0.53
0.79
0.48
0.43
0.65
0.57
1.27
1.57
No. of shares - Basic (M)
32.1
34.1
34.6
36.8
44.0
44.4
45.1
45.8
46.4
47.0
47.4
33.6
44.5
46.9
No. of shares - Diluted (M)
35.8
37.1
37.9
40.3
47.0
47.3
48.0
48.9
49.5
49.6
50.3
36.9
47.6
49.8
30
Numbers may not add due to roundingView entire presentation