Taboola Lifts Q3, FY21 Outlook To Reflect Connexity Synergies

Taboola.com Ltd TBLA provides updated 2021 and initial 2022 guidance that incorporates recently closed Connexity acquisition.
Related Content: Taboola.com To Acquire e-Commerce platform Connexity For $800M In Cash And Stock
Taboola closed its acquisition of Connexity on September 1, 2021, adding Connexity's 6,000 publishers and 1,600 direct merchant relationships.
Q3 Outlook: It increased the Q3 revenue guidance from $325 million - $328 million to $338 million - $342 million.
Taboola expanded the Q3 Gross Profit outlook from $95 million - $98 million to $101 million - $103 million.
The company raised the Q3 ex-TAC Gross Profit guidance from $115 million - $117 million to $122 million - $124 million.
It raised the Q3 Adjusted EBITDA outlook of $33 million - $34 million to $36 million - $37 million.
FY21 Outlook: The company raised the FY21 revenue outlook from the previous $1.316 billion - $1.323 billion to $1.392 billion - $1.40 billion.
It bumped the FY21 Gross Profit guidance from $390 million - $396 million to $418 million - $424 million.
Taboola lifted the FY21 ex-TAC Gross Profit outlook from $468 million - $472 million to $503 million - $509 million.
The company increased the FY21 Adjusted EBITDA guidance from $150 million - $153 million to $168 million - $171 million.
FY22 Outlook: Taboola.com expects Revenues of $1.698 billion - $1.748 billion, Gross Profit of $530 million - $550 million, ex-TAC Gross Profit of $645 million - $665 million, and Adjusted EBITDA of $193 million - $213 million.
Taboola estimates its total addressable market, when accounting for the Connexity acquisition, to be $124 billion, including $64 billion in the Open Web and $60 billion of e-commerce ad spend in walled gardens.
Price Action: TBLA shares traded lower by 2.75% at $8.83 on the last check Tuesday.

Market News and Data brought to you by Benzinga APIs

Comments

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga