Outbrain Q4 revenue reports mixed results amidst market challenges.

Outbrain Inc., a tech platform driving business results on the Open Internet, reported Q4 revenue down 4% to $248.2M and full-year revenue down 6% to $935.8M. Q4 gross profit rose by 11% to $53.2M, with a 4% decline in full-year gross profit. Q4 net income improved to $4.1M, and full-year net income reached $10.2M. Adjusted EBITDA surged by 97% in Q4 and increased by 8% in full-year. Free cash flow grew by 83% in Q4. Outbrain repurchased 3.7M shares for $17.8M under its stock repurchase program. Co-founder and co-CEO Yaron Galai will step down as co-CEO, with David Kostman assuming the sole CEO role effective April 1, 2024.

February 29, 2024
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