ZETA

MKT CAP:$4B

Zeta Global Holdings Corp.

Market Cap

$4B

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$17.09-$2.82 (-14.16%)

Apr 23, 2026

Company Details

Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. Its Zeta Marketing Platform analy...

CEO

David A. Steinberg

IPO Date

Jun 10, 2021

Website

www.zetaglobal.com

Key Metrics TTM

Revenue

$1.3B

+29.7% YoY

Net Income

-$32M

EPS (Diluted)

-$0.15

Free Cash Flow

$185M

Revenue / Share

$5.87

Gross Margin

60.6%

Operating Margin

0.4%

Net Margin

-2.4%

FCF Margin

14.2%

P/S

3.3x

P/E

—

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 25, 2026

$1.3B+29.7%EPS -$0.14

Q4 2025

Feb 25, 2026

$395M+25.4%EPS $0.03

Q3 2025

Nov 5, 2025

$337M+25.7%EPS -$0.02

Q2 2025

Aug 6, 2025

$308M+35.4%EPS -$0.06

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$126M	$72M	-$68M
Q2 22	$137M	$74M	-$77M
Q3 22	$152M	$81M	-$66M
Q4 22	$175M	$97M	-$48M
Q1 23	$158M	$91M	-$52M
Q2 23	$172M	$97M	-$43M
Q3 23	$189M	$102M	-$37M
Q4 23	$210M	$112M	-$32M
Q1 24	$195M	$104M	-$36M
Q2 24	$228M	$124M	-$27M
Q3 24	$268M	$150M	-$8M
Q4 24	$315M	$172M	$11M
Q1 25	$264M	$143M	-$13M
Q2 25	$308M	$174M	-$5M
Q3 25	$337M	$187M	$15M
Q4 25	$395M	$287M	$8M

Valuation

Quarter	P/S	P/E
Q1 22	4.0x	—
Q2 22	1.7x	—
Q3 22	2.3x	—
Q4 22	2.8x	—
Q1 23	3.4x	—
Q2 23	2.5x	—
Q3 23	2.5x	—
Q4 23	2.6x	—
Q1 24	3.1x	—
Q2 24	4.8x	—
Q3 24	7.5x	—
Q4 24	4.3x	—
Q1 25	3.3x	—
Q2 25	3.2x	—
Q3 25	4.1x	—
Q4 25	3.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$21M	$10M
Q2 22	$15M	$6M
Q3 22	$20M	$10M
Q4 22	$23M	$14M
Q1 23	$20M	$10M
Q2 23	$21M	$13M
Q3 23	$23M	$13M
Q4 23	$27M	$18M
Q1 24	$25M	$15M
Q2 24	$31M	$20M
Q3 24	$34M	$38M
Q4 24	$44M	$31M
Q1 25	$35M	$32M
Q2 25	$42M	$40M
Q3 25	$58M	$52M
Q4 25	$64M	$61M

Capital Expenditures

Quarter	CapEx
Q1 22	$11M
Q2 22	$9M
Q3 22	$10M
Q4 22	$9M
Q1 23	$10M
Q2 23	$8M
Q3 23	$9M
Q4 23	$9M
Q1 24	$9M
Q2 24	$11M
Q3 24	$3M
Q4 24	$12M
Q1 25	$3M
Q2 25	$2M
Q3 25	$5M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+24.4%	+96.8%
Q2 22	+28.4%	-6.3%
Q3 22	+32.2%	+20.4%
Q4 22	+29.9%	+14.1%
Q1 23	+24.8%	+8.2%
Q2 23	+25.1%	+0.4%
Q3 23	+24.1%	+3.5%
Q4 23	+20.1%	+8.7%
Q1 24	+23.7%	+10.0%
Q2 24	+32.6%	+18.2%
Q3 24	+42.0%	+22.1%
Q4 24	+49.6%	+25.6%
Q1 25	+35.6%	+20.2%
Q2 25	+35.4%	+23.2%
Q3 25	+25.7%	+16.6%
Q4 25	+25.4%	+27.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$74M	58.4%
Q2 22	$82M	60.0%
Q3 22	$75M	49.4%
Q4 22	$68M	38.7%
Q1 23	$64M	40.9%
Q2 23	$58M	33.5%
Q3 23	$58M	30.5%
Q4 23	$63M	30.0%
Q1 24	$53M	27.0%
Q2 24	$52M	22.9%
Q3 24	$47M	17.6%
Q4 24	$43M	13.7%
Q1 25	$42M	15.9%
Q2 25	$46M	15.1%
Q3 25	$46M	13.5%
Q4 25	$44M	11.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$17M	—	—	$122M
Q2 22	$18M	—	—	$133M
Q3 22	$17M	—	—	$131M
Q4 22	$17M	—	—	$127M
Q1 23	$19M	—	—	$125M
Q2 23	$17M	—	—	$123M
Q3 23	$18M	—	—	$121M
Q4 23	$20M	—	—	$124M
Q1 24	$20M	—	—	$120M
Q2 24	$24M	—	—	$127M
Q3 24	$23M	—	—	$135M
Q4 24	$24M	—	—	$137M
Q1 25	$27M	—	—	$129M
Q2 25	$31M	—	—	$149M
Q3 25	$30M	—	—	$142M
Q4 25	$30M	$60M	$93M	—

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	24.4%	-48.0%	-23.5
Q2 22	28.4%	-51.5%	-23.0
Q3 22	32.2%	-34.9%	-2.7
Q4 22	29.9%	-21.2%	8.7
Q1 23	24.8%	-27.0%	-2.1
Q2 23	25.1%	-21.2%	3.9
Q3 23	24.1%	-14.0%	10.2
Q4 23	20.1%	-9.1%	11.0
Q1 24	23.7%	-11.7%	12.0
Q2 24	32.6%	-5.3%	27.3
Q3 24	42.0%	-1.0%	41.0
Q4 24	49.6%	8.2%	57.8
Q1 25	35.6%	-0.7%	34.9
Q2 25	35.4%	1.9%	37.3
Q3 25	25.7%	4.3%	30.0
Q4 25	25.4%	5.3%	30.8

Rule of 40

Revenue Segments

Quarter	Operating Segments
Q3 25	$337M

Revenue by Geography

Quarter	Non-US	United States
Q1 22	$6M	$120M
Q2 22	$5M	$132M
Q3 22	$6M	$146M
Q4 22	$7M	$168M
Q1 23	$7M	$150M
Q2 23	$8M	$164M
Q3 23	$7M	$182M
Q4 23	$7M	$204M
Q1 24	$7M	$188M
Q2 24	$6M	$222M
Q3 24	$7M	$261M
Q4 24	$12M	$303M
Q1 25	$10M	$255M
Q2 25	$10M	$298M
Q3 25	$12M	$325M
Q4 25	$26M	$368M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$104M	$0	$104M
Q2 22	$111M	$0	$111M
Q3 22	$115M	$0	$115M
Q4 22	$121M	$0	$121M
Q1 23	$108M	$0	$108M
Q2 23	$117M	$0	$117M
Q3 23	$121M	$0	$121M
Q4 23	$132M	$0	$132M
Q1 24	$142M	$0	$142M
Q2 24	$155M	$0	$155M
Q3 24	$419M	$0	$419M
Q4 24	$366M	$0	$366M
Q1 25	$364M	$0	$364M
Q2 25	$365M	$0	$365M
Q3 25	$385M	$0	$385M
Q4 25	$320M	$0	$320M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	134M	+10.1%	+308.2%
Q2 22	136M	+1.4%	+165.4%
Q3 22	141M	+3.5%	+8.4%
Q4 22	145M	+3.5%	+19.5%
Q1 23	150M	+3.1%	+11.9%
Q2 23	155M	+3.0%	+13.8%
Q3 23	158M	+2.2%	+12.4%
Q4 23	164M	+3.7%	+12.7%
Q1 24	171M	+4.5%	+14.1%
Q2 24	178M	+3.9%	+15.1%
Q3 24	188M	+5.6%	+18.9%
Q4 24	250M	+33.2%	+52.7%
Q1 25	213M	-15.1%	+24.1%
Q2 25	217M	+2.2%	+22.1%
Q3 25	222M	+2.4%	+18.4%
Q4 25	222M	0.0%	-11.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$88.1K	1K
Q2 22	$95.7K	1K
Q3 22	$106.2K	1K
Q4 22	$109.2K	2K
Q1 23	$98.3K	2K
Q2 23	$107.1K	2K
Q3 23	$117.8K	2K
Q4 23	$118.0K	2K
Q1 24	$109.3K	2K
Q2 24	$127.8K	2K
Q3 24	$150.5K	2K
Q4 24	$143.6K	2K
Q1 25	$120.7K	2K
Q2 25	$140.8K	2K
Q3 25	$153.9K	2K
Q4 25	$119.6K	3K

Revenue / Employee