Innovid Trims FY22 Revenue Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Friday, advertising platform Innovid Corp. (CTV) provided revenues guidance for the fourth quarter and trimmed its revenue outlook for the full-year 2022.

For the fourth quarter, the company expects revenue to be in the range of $34 million to $36 million, reflecting 31% to 39% year-over-year growth on an as-reported basis, and 6% to 12% year-over-year growth on a pro forma basis when including TVSquared revenue.

On average, analysts polled by Thomson Reuters expected the company to report revenues of $594.76 million for the quarter

Looking ahead to fiscal 2022, Revenue is expected to be in the range of $127 million to $129 million including TVSquared, a year-over-year increase of approximately 41% to 43% growth on an as-reported basis, and 17% to 19% year-over-year growth on a pro forma basis when including TVSquared revenue. Previously, the company estimated revenues between $127 million and $132 million.

The Street is looking for revenues of $129.92 million for the year.

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