• Total Revenue: $88.5 million, down 2.8% from $91 million in the same quarter a year ago.

• Content and Ad Measurement Revenue: $75.3 million, flat compared to the prior-year quarter.

• Movies Business Revenue: $9.3 million, up 7% from the prior year.

• Cross-Platform Revenue: $10.2 million, up nearly 34% compared to the prior year.

• Research and Insight Solutions Revenue: $13.2 million, down 14% from 2023.

• Adjusted EBITDA: $10.1 million, down 24% from the prior-year quarter.

• Adjusted EBITDA Margin: 11.5%.

• Core Operating Expenses: Down 3.9% over the prior-year quarter.

• Full-Year Revenue Guidance for 2024: Between $351 million and $355 million.

• Warning! GuruFocus has detected 4 Warning Signs with SCOR.

Release Date: November 12, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Comscore Inc (NASDAQ:SCOR) reported a 34% growth in cross-platform revenue compared to the third quarter of the previous year.

• The company renewed key agreements, including a new three-year commitment from a major agency holding company, enhancing partnerships.

• Predictive Audiences revenue more than doubled compared to the third quarter of 2023, showing strong recovery and adoption.

• Comscore Campaign Ratings saw significant recovery, measuring over five times the number of ad campaigns by the end of October compared to the beginning of the year.

• The integration with Meta platforms allows advertisers to measure social ads across Facebook and Instagram, enhancing cross-platform measurement capabilities.

Negative Points

• Total revenue for the third quarter was $88.5 million, down 2.8% from the same quarter a year ago.

• Content and ad measurement revenue remained flat, with lower revenue from syndicated audience offerings.

• Research and insight solutions revenue decreased by 14% due to lower deliveries of custom digital solutions and Lift products.

• Adjusted EBITDA for the third quarter was down 24% from the prior-year quarter, resulting in a lower adjusted EBITDA margin.

• The company continues to face pricing pressures from legacy media clients, impacting National TV and syndicated digital products.

Q & A Highlights

Q: Can you elaborate on the progress made in cross-platform revenue and its impact on the company's growth strategy? A: Jonathan Carpenter, CEO, highlighted a 34% growth in cross-platform revenue compared to the previous year. This growth is attributed to key wins with agency holding companies and the expansion of partnerships. The company is focused on integrating cross-platform measurement into programmatic transaction flows, which is expected to drive future revenue growth.