comScore, Inc. Q3 FY2025 earnings call

• Generated just under $89 million in revenues for Q3, slightly up year-over-year with double-digit growth in key strategic areas. - Local had double-digit growth in measuring hyperlocal audiences. - Cross-platform had 20% year-over-year growth, 35% growth absent a retail media client shift, fueled by data integrations. - Comscore Content Measurement launched earlier this year with clients signing long-term contracts, and a beta launch of program and episode level clarity. - Recapitalization agreement with preferred shareholders including elimination of annual preferred dividends, cancellation of special dividend obligation, etc.

For the third quarter, Comscore generated just under $89 million in revenues. Content and ad measurement revenue was $75.5 million, up 0.3% year-over-year, with double-digit growth in local and 20% year-over-year growth in cross-platform (35% growth absent a retail media client strategy shift). Syndicated audience revenue was $63.2 million, down 2.8% year-over-year, but local TV in syndicated had double-digit growth. Movies revenue was $9.5 million, up 1.9% year-over-year. Research and Insights Solutions revenue was $13.4 million, up 1.4% year-over-year.

• Revised full-year revenue guidance to be roughly flat with prior year due to retail media client shift impact on Q3 and Q4 revenue. - Maintained adjusted EBITDA guidance for full year with an anticipated margin of 12% to 15%. - Still expect solid double-digit growth in cross-platform revenue but tempered expectations for the quarter and full year.

• Forward-looking statements may differ materially from actual results due to risks and uncertainties outlined in SEC filings. - Impact of retail media client strategy shift on revenue in Q3 and expected in Q4.

Q: Can you provide additional color on the large retail media advertiser that shifted away from Proximic?

A: It impacted the Proximic business in a large programmatic platform, was a headwind in Q3 and anticipated in Q4, short term in nature.

Q: How does the competitor's move on not measuring local TV stations not subscribers benefit adoption?

A: Comscore's local measurement has double-digit growth, they invest in the capability, confident in quality and stability of their local offering.

Q: How does the recapitalization improve EBITDA to free cash flow conversion and investment emphasis?

A: Excited about benefits for common shareholders, encourage approval of the agreement, more detail to come once approved.