Q2 2026 Earnings

Reported August 10, 2026NEW

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

Income Statement

Cash Flow Statement

Balance Sheet

Operating metrics disclosed this quarter

Read from the filing itself — XBRL does not carry these, so no standard financial dataset has them.

Top Ten Customer Revenue Concentration
20.0%
While no customer accounted for more than 10% of our revenue for the year ended December 31, 2025 and the six months ended June 30, 2026, our top ten customers collectively accounted for approximately 17% and 20%, respectively, of our revenue for the same periods. We expect to continue to generate a significant portion of our revenue from these customers for the foreseeable future. At present, almost all of our customers are not subject to committed contracts with us. There are inherent risks whenever a large percentage of total revenues are concentrated with a limited number of customers. If any of our significant customers were to reduce or cease their usage of our platform, it may have an outsized effect on our revenue, thereby adversely affecting our business, results of operation, and financial condition.
Active PTV Customer Growth
24.0%
Revenue increased $14.1 million, or 20.6%, to $82.5 million for the three months ended June 30, 2026, compared to $68.5 million for the three months ended June 30, 2025. The increase was due primarily to an increase of $14.2 million in revenue generated from PTV. Active PTV customers increased 24% between the periods in comparison. The increase in active PTV customers was offset by a decrease in average spend per customer as we continued to expand our overall SMB footprint, including small businesses.
PTV Customers
4.2K
PTV Customers PTV Customers refers to the aggregate number of unique customers that use our PTV platform as part of their CTV campaigns in the twelve-month period preceding the date indicated. We believe the number of PTV Customers is an important key performance indicator for investors because it helps assess the reach of our PTV platform as well as our brand awareness. The following table summarizes our key performance indicator for each period presented below: Twelve Months Ended June 30, 2026 2025 PTV Customers 4,225 3,020 Since 2019, our PTV Customers increased from 142 to 4,225 in the twelve months ended June 30, 2026. Our PTV Customers increased 39.9% in the twelve months ended June 30, 2026 from the twelve months ended June 30, 2025. We attribute this growth to new customer acquisitions due to continued customer adoption of PTV and our continued expansion of our overall SMB footprint, including small businesses.

Full-Time Team Members

451

As of June 30, 2026, we had 451 full-time team members. Hiring productive and diverse talent is a key driver of our success and we expect to strategically grow headcount as our business scales. We plan to further invest in research and development to extend our data and technology lead and to enhance our platform. We also expect to incur additional general and administrative expenses to support our growth as a publicly traded company. Our headcount may increase through direct hires or through acquisitions of companies or teams.

Technology and Development Headcount Growth

13.0%

Technology and development expense increased $5.6 million, or 52.4%, to $16.4 million for the three months ended June 30, 2026, compared to $10.7 million for the three months ended June 30, 2025. The increase was primarily due to an increase in personnel costs of $4.3 million attributable to increased headcount to maintain and support further development of our platform. Technology and development headcount increased by 13% between the periods in comparison as we continued to grow our engineering team to support the growth of our product. The remaining $1.0 million increase was driven by investment in incremental tools to support the development of our platform.