Integral Ad Science Holding Corp. (IAS) reported significant financial improvements in its third quarter and year-to-date results for 2024 compared to the same periods in 2023. For the three months ended September 30, 2024, IAS generated revenue of $133.5 million, an 11% increase from $120.3 million in Q3 2023. Year-to-date revenue also rose to $377.1 million, up 11% from $340.1 million in the prior year. This growth was driven by increases in both optimization and measurement revenue, with measurement revenue alone rising 11% due to a 17% growth in impression volume.

Operating income for Q3 2024 reached $20.2 million, a substantial increase of 119% from $9.2 million in the same quarter last year. Year-to-date operating income surged to $34.9 million, compared to just $581,000 in 2023. The net income for Q3 2024 was $16.1 million, a turnaround from a net loss of $13.7 million in Q3 2023, while year-to-date net income stood at $22.5 million, compared to a net loss of $2.9 million in the previous year.

Total operating expenses for Q3 2024 were $113.3 million, slightly higher than $111.1 million in Q3 2023, but the operating expense ratio improved to 85% of revenue from 92% in the prior year. The company reported a decrease in interest expenses, down 57% to $1.9 million for Q3 2024, attributed to a lower average outstanding balance and reduced interest rates.

As of September 30, 2024, IAS had total assets of $1.1 billion, down from $1.2 billion at the end of 2023, while total stockholders' equity increased to $982.5 million from $909.5 million. Cash and cash equivalents decreased to $57.1 million from $124.8 million at the end of 2023, reflecting cash used in financing activities primarily for debt repayments.

The company also noted a reduction in workforce of approximately 120 employees in December 2022, aimed at enhancing operational efficiency, with no remaining liabilities as of the end of 2023. IAS continues to focus on expanding its product offerings, particularly in the connected TV (CTV) segment, and aims to increase market share among top global advertisers. The company is also pursuing new accounts previously serviced by Oracle, which is exiting the advertising business.

About INTEGRAL AD SCIENCE HOLDING CORP.

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