Overview
- The company guided to roughly 10% revenue growth in the first quarter with an expected EBITDA decline, while the CFO said full‑year adjusted EBITDA margin should match last year.
- CEO Jeff Green argued that ad supply is expanding faster than demand, a dynamic he says boosts a neutral DSP that optimizes across the open internet.
- Management reported near‑universal client use of its Kokai AI platform, shifting the emphasis from adoption to proof of sustained performance gains such as lower CPA and higher return on ad spend.
- Shares climbed about 22.9% week over week after reports of a deal to help sell ads on ChatGPT, a partnership that has been described as reported rather than officially confirmed in the coverage.
- Rival pressure from vertically integrated platforms—especially Amazon, Google and Meta—intensified through 2025, contributing to decelerating growth and a valuation reset even as retention stayed above 95%.