The company released 2023 results with Adjusted EBITDA loss higher than we forecast. However, the results do not significantly reflect the refocusing of the business on B2B performance marketing that started in November 2023. The restructuring has significantly reduced expenses and driven the company to EBITDA profitability throughout Q1 2024. We update our 2024 and 2025 forecasts to reflect the company’s new business model and maintain Adjusted EBITDA in both years. We continue to see profits a ....
