Innovid Expects Q2 Revenue Of $37.5M-$39.5M (Est $38.3M), Raises FY24 Outlook From $154M-$162M To $156M-$163M (Est $158.294M)
Portfolio Pulse from Benzinga Newsdesk
Innovid has updated its Q2 revenue forecast to $37.5M-$39.5M, slightly above the estimated $38.3M, and raised its FY24 revenue outlook from $154M-$162M to $156M-$163M, surpassing the estimated $158.294M. The company also increased its FY 2024 Adjusted EBITDA forecast from $22M-$28M to $24M-$29M, indicating expectations for continued revenue growth and margin expansion.
May 07, 2024 | 11:45 am
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Innovid's raised revenue and EBITDA forecasts for FY24 suggest a positive outlook for the company, indicating potential growth in the CTV sector.
Innovid's upward revision of both its revenue and EBITDA forecasts for FY24 suggests confidence in its business model and operational efficiency, particularly in the CTV sector. This positive outlook could attract investor interest and drive up the stock price in the short term.
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IMPORTANCE 75
RELEVANCE 80