- Informa TechTarget (TTGT, Financial) reconfirms 2024 revenue projections, expecting reported revenues of $285m-$295m and pro forma revenues of $490m-$500m.
- The company holds approximately $354m in cash and equivalents, with $416m outstanding in Convertible Senior Notes.
- 2025 is designated as the "Foundation Year," with expectations of flat revenue and increased adjusted EBITDA, supported by synergy gains.
Informa TechTarget (NASDAQ: TTGT) has reaffirmed its 2024 revenue forecasts, projecting reported revenues between $285 million and $295 million, and pro forma revenues ranging from $490 million to $500 million. The outlook reflects a flat underlying revenue performance, attributed to subdued market conditions impacted by geopolitical tensions and economic uncertainties.
The company reported a robust financial position with approximately $354 million in cash and equivalents as of December 31, 2024. Additionally, Informa TechTarget has made significant progress in simplifying its capital structure by tendering nearly all Convertible Senior Notes for 2025 and 2026, which had a total of $416 million outstanding.
Looking forward, 2025 is themed as "The Foundation Year," with the company anticipating stable revenues but an increase in adjusted EBITDA driven by combination synergies. While a low to mid-single digit revenue decline is expected in the first half, an improvement is projected in the second half of the year. The company has surpassed its Year 1 operating cost synergy target of $5 million and aims to achieve or exceed $45 million in overall run rate synergies by Year 3.
