Zeta Global Holdings Corp. reported significant financial developments in its 10-Q filing for the three and nine months ended September 30, 2024. The company experienced a notable increase in total revenues, which reached $268.3 million for the third quarter, up 42% from $189.0 million in the same period of 2023. For the nine months, revenues totaled $691.1 million, a 33.3% increase from $518.4 million year-over-year. This growth was attributed to $85.3 million from existing customers and $87.4 million from new customers.

Despite the revenue growth, total operating expenses also rose, reaching $280.7 million for the third quarter, compared to $226.2 million in 2023. The increase was primarily driven by a $32.6 million rise in media costs. The company reported a loss from operations of $(12.4) million for the third quarter, an improvement from $(37.2) million in the prior year. The net loss for the third quarter was $(17.4) million, down from $(43.1) million in 2023. For the nine-month period, the net loss was $(85.0) million, compared to $(152.2) million in the same timeframe last year.

Zeta's cash and cash equivalents surged to $418.5 million as of September 30, 2024, up from $131.7 million at the end of 2023. The company also reported a significant increase in total current assets, which rose to $633.6 million from $309.8 million. Total stockholders’ equity increased to $474.9 million, compared to $180.5 million at the end of 2023.

Strategically, Zeta completed a public offering on September 4, 2024, raising approximately $242.2 million in gross proceeds. The company also entered into a new five-year senior secured credit facility totaling $550 million, which includes a $200 million term loan and a $350 million revolving credit facility. This new facility replaced the previous credit arrangement and is expected to support future growth initiatives.

In terms of operational metrics, Zeta reported an 8% increase in scaled customers, totaling 475, and a 30% increase in average revenue per user for super-scaled customers, reaching $1.6 million. The company did not incur any restructuring expenses in the current period, contrasting with $2.8 million recorded in the same period of 2023.

Overall, Zeta Global's financial performance reflects a robust growth trajectory, supported by strategic financing and operational improvements, despite ongoing challenges in profitability.