Q4 2025 Teads Holding Co Earnings Call Transcript
Key Points
- Teads Holding Co (TEAD) achieved the high end of their guidance on Ex-TAC and exceeded their adjusted EBITDA target, generating positive free cash flow.
- The company saw a 55% growth in CTV revenue in Q4, crossing the $100 million annual revenue mark.
- Performance cross-selling is scaling, with a 300% increase in sales to enterprise customers compared to Q3.
- Teads renewed several joint business partnerships with leading global brands, highlighting strong strategic relationships.
- The company expects annual savings of $35 million to $40 million from their December restructuring efforts.
- On a pro-forma basis, Teads experienced a 17% year-over-year decline in Q4 revenue.
- The company recorded a non-cash impairment to goodwill of around $350 million due to recent declines in share price and market capitalization.
- Teads anticipates a year-over-year comparison headwind of approximately $20 million of Ex-TAC, primarily impacting H1 2026.
- Operational challenges and distractions from the merger led to a deceleration in top-line growth, particularly in key markets like the US and UK.
- The proactive cleanup of inventory and trimming of low-quality revenue sources will continue to impact financial comparisons in the first half of 2026.
Good day. Welcome to Teads' fourth-quarter and full year 2025 earnings conference call. (Operator Instructions)
As a reminder, this conference is being recorded. I would now like to turn the call over to Teads Investor Relations. Please go ahead.
Good morning, thank you for joining us on today's conference call to discuss Teads' fourth-quarter and full year 2025 results. Joining me on the call today, we have David Kostman and Jason Kiviat, the CEO and CFO of Teads.
During this conference call, management will make forward-looking statements based on current expectations and assumptions, including statements regarding our business outlook and prospects. These statements are subject to risks and uncertainties that may cause actual results to differ materially from our forward-looking statements. These risk factors are discussed in detail in our annual report on Form 10-K for the year ended December 31, 2024, as updated in our subsequent reports filed with the Securities and Exchange Commission. Forward-looking
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