Comscore, Inc. reported a total revenue of $356.0 million for the fiscal year ending December 31, 2024, reflecting a decrease of 4.1% compared to $371.3 million in 2023. The decline was primarily attributed to lower renewals of national TV and syndicated digital products within its Content & Ad Measurement segment, which generated $301.1 million, down from $309.9 million in the previous year. The company also experienced a decrease in revenue from its Research & Insight Solutions segment, which fell to $54.9 million from $61.4 million in 2023. Despite these challenges, Comscore's Cross-Platform revenue increased by 19.7%, driven by higher usage of its Proximic products.
The company's net loss for 2024 was $60.2 million, an improvement from a net loss of $79.4 million in 2023. This reduction in losses was supported by a decrease in total operating expenses, which amounted to $415.6 million, down from $444.9 million in the prior year. Key factors contributing to the lower expenses included a reduction in selling and marketing costs, as well as a decrease in general and administrative expenses, which were partially offset by a significant impairment charge of $63.0 million related to goodwill.
In terms of strategic developments, Comscore entered into a new senior secured financing agreement on December 31, 2024, with Blue Torch Finance LLC, providing a borrowing capacity of $60 million. This agreement includes a $45 million term loan and a $15 million revolving credit facility, aimed at strengthening the company's cash position and addressing aged accounts payable. Additionally, the company issued 13.3 million shares of Series B Convertible Preferred Stock in July 2024 to existing holders, in exchange for the cancellation of $32.8 million in accrued dividends.
Operationally, Comscore's workforce consisted of approximately 1,200 employees as of January 31, 2025, with a significant portion engaged in product and technology roles. The company has been focusing on enhancing its data collection and analytics capabilities, which are critical for maintaining its competitive edge in the rapidly evolving media measurement landscape. As of December 31, 2024, Comscore's cash and cash equivalents totaled $29.9 million, with an additional $3.5 million in restricted cash.
Looking ahead, Comscore anticipates continued challenges in the advertising market, influenced by macroeconomic factors such as inflation and rising interest rates, which may impact demand for its products. The company expects to navigate these conditions while focusing on operational efficiencies and product innovation to drive future growth.
About COMSCORE, INC.
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