Taboola reported revenue of $ 329 million in the second quarter of 2021

Taboola publishes first reports since completing merger of Spock and began trading on NASDAQ. The company, which specializes in a field called Native Display - content-integrated advertising - reported revenue of $ 329 million in the second quarter of 2021, compared to revenue of about $ 267 million in the same quarter in 2020.
The company topped revenue forecasts of $ 320-315 million for the quarter. Gross profit amounted to about $ 100 million in the second quarter of 2021, compared to gross profit of about $ 84 million in the corresponding quarter in 2020.
Excluding the cost of acquiring traffic on sites (TACs), which include, for example, the payment to content sites, the company's gross profit amounted to about $ 117 million in the quarter, compared to about $ 99 million in the corresponding quarter in 2020.
Adjusted EBITDA, which offsets interest, tax, depreciation and amortization expenses, as well as equity-based compensation, amounted to $ 40 million in the second quarter of 2021, compared to adjusted cash flow income of approximately $ 35 million in the corresponding quarter. Analysts' forecasts were for adjusted cash flow operating income of $ 36-34 million.Taboola's cash flow from operating activities decreased to $ 23 million in the second quarter of 2021, compared to about $ 37 million in the corresponding quarter in 2020. The company's cash balances total $ 585 million as of the end of the second quarter of 2021, compared to about $ 152 million in the corresponding quarter in 2020.Taboola has raised revenue forecasts for 2021 as a whole, and it expects revenue of $ 1.316 billion, compared to a previous forecast of revenue of $ 1.298 billion. The company expects adjusted adjusted cash flow operating profit in 2021 to be in the range of $ 153-150 million, compared to a previous forecast of $ 150-140 million.Taboola recently announced the acquisition of Connexity for $ 800 million - one of the largest acquisitions made by an Israeli company. The acquisition, which will be made in cash and shares, will bring Tabula into the online trading space.Taboola founder and CEO Adam Singolda said: “We issued just about a month ago, we had strong momentum in the second quarter of 2021. In the last quarter we showed growth in earnings above forecasts, and we continue to expand our collaborations with publishers, including new collaborations With the BBC, Hurst, SheMedia and others. "