Outbrain (OB) Financials

$3.52 -0.08 (-2.09%)

As of 11:38 AM Eastern

Annual Income Statements for Outbrain

This table shows Outbrain's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	11	-25	10	-0.71
Consolidated Net Income / (Loss)	11	-25	10	-0.71
Net Income / (Loss) Continuing Operations	11	-25	10	-0.71
Total Pre-Tax Income	-15	-19	16	1.70
Total Operating Income	35	-14	-8.64	-13
Total Gross Profit	240	193	185	192
Total Revenue	1,016	992	936	890
Operating Revenue	1,016	992	936	890
Total Cost of Revenue	775	799	751	698
Operating Cost of Revenue	775	799	751	698
Total Operating Expenses	206	206	193	205
Selling, General & Admin Expense	71	57	59	70
Marketing Expense	96	109	98	97
Research & Development Expense	39	40	36	37
Total Other Income / (Expense), net	-49	-5.03	25	14
Interest Expense	3.96	7.63	5.39	3.65
Interest & Investment Income	-3.08	2.60	7.79	9.21
Other Income / (Expense), net	-42	0.00	23	8.78
Income Tax Expense	-26	6.01	6.11	2.42
Basic Earnings per Share	$0.31	($0.44)	$0.20	($0.01)
Weighted Average Basic Shares Outstanding	35.16M	55.62M	50.90M	49.32M
Diluted Earnings per Share	$0.20	($0.44)	($0.06)	($0.11)
Weighted Average Diluted Shares Outstanding	53.89M	55.62M	56.97M	52.71M
Weighted Average Basic & Diluted Shares Outstanding	57.22M	51.16M	49.05M	93.94M

This table shows Outbrain's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q3 2024
Period end date	9/30/2022	12/31/2022	6/30/2023	9/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024
Net Income / (Loss) Attributable to Common Shareholders	-4.62	-7.75	11	0.51	0.51	-2.06	-2.20	6.70
Consolidated Net Income / (Loss)	-4.62	-7.75	11	0.51	0.51	-2.06	-2.20	6.70
Net Income / (Loss) Continuing Operations	-4.62	-7.75	11	0.51	0.51	-2.06	-2.20	6.70
Total Pre-Tax Income	-5.80	-1.24	15	1.52	1.52	-2.03	-3.45	7.93
Total Operating Income	-7.07	-3.67	-7.66	2.62	2.62	-6.22	-5.63	-2.95
Total Gross Profit	42	48	44	46	46	48	46	49
Total Revenue	229	258	226	230	230	250	214	224
Operating Revenue	229	258	226	230	230	250	214	224
Total Cost of Revenue	187	210	182	184	184	202	169	175
Operating Cost of Revenue	187	210	182	184	184	202	169	175
Total Operating Expenses	49	52	52	44	44	54	51	52
Selling, General & Admin Expense	12	16	16	14	14	16	17	20
Marketing Expense	27	26	26	21	21	30	25	23
Research & Development Expense	9.91	9.46	10	8.68	8.68	9.00	9.40	9.05
Total Other Income / (Expense), net	1.28	2.43	23	-1.10	-1.10	4.19	2.18	11
Interest Expense	1.92	1.88	1.11	1.46	1.46	1.38	0.57	1.44
Interest & Investment Income	3.20	4.31	1.52	0.36	0.36	5.56	2.75	3.54
Other Income / (Expense), net	0.00	-	23	0.00	0.00	-	0.00	8.78
Income Tax Expense	-1.17	6.51	4.06	1.01	1.01	0.02	-1.25	1.23
Basic Earnings per Share	($0.08)	($0.15)	$0.22	$0.01	$0.01	($0.04)	($0.04)	$0.14
Weighted Average Basic Shares Outstanding	55.23M	55.62M	51.22M	50.88M	50.88M	50.90M	48.92M	49.33M
Diluted Earnings per Share	($0.08)	($0.15)	($0.09)	$0.01	$0.01	$0.01	($0.04)	$0.01
Weighted Average Diluted Shares Outstanding	55.23M	55.62M	56.63M	51.24M	51.24M	56.97M	48.92M	53.91M
Weighted Average Basic & Diluted Shares Outstanding	52.56M	51.16M	51.15M	50.16M	-	49.05M	49.21M	49.65M

This table details how cash moves in and out of Outbrain's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	362	-350	-35	19
Net Cash From Operating Activities	57	3.81	14	69
Net Cash From Continuing Operating Activities	57	3.81	14	69
Net Income / (Loss) Continuing Operations	11	-25	10	-0.71
Consolidated Net Income / (Loss)	11	-25	10	-0.71
Depreciation Expense	7.50	11	6.92	6.31
Amortization Expense	12	14	10	11
Non-Cash Adjustments To Reconcile Net Income	74	19	1.29	15
Changes in Operating Assets and Liabilities, net	-48	-15	-15	37
Net Cash From Investing Activities	-20	-318	70	67
Net Cash From Continuing Investing Activities	-20	-318	70	67
Purchase of Property, Plant & Equipment	-20	-26	-20	-17
Acquisitions	0.00	-45	-0.39	-0.18
Purchase of Investments	0.00	-262	-132	-91
Sale and/or Maturity of Investments	0.00	16	222	175
Other Investing Activities, net	-0.05	-0.13	-0.07	-0.10
Net Cash From Financing Activities	326	-32	-117	-118
Net Cash From Continuing Financing Activities	326	-32	-117	-118
Repayment of Debt	-11	-3.19	-98	-110
Repurchase of Common Equity	-18	-33	-19	-6.60
Other Financing Activities, net	5.94	4.16	-0.55	-1.10
Effect of Exchange Rate Changes	-1.03	-4.04	-1.00	0.63
Cash Interest Paid	0.59	7.46	6.03	4.32
Cash Income Taxes Paid	6.74	6.89	8.60	10

This table details how cash moves in and out of Outbrain's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	12/31/2024
Net Change in Cash & Equivalents	-254	-32	-32	-13	4.74	6.35	0.47	32
Net Cash From Operating Activities	-12	17	-20	1.83	6.92	25	8.61	43
Net Cash From Continuing Operating Activities	-12	17	-20	1.83	6.92	25	8.61	43
Net Income / (Loss) Continuing Operations	-4.62	-7.75	-5.61	11	0.51	4.06	-5.04	-0.17
Consolidated Net Income / (Loss)	-4.62	-7.75	-5.61	11	0.51	4.06	-5.04	-0.17
Depreciation Expense	2.90	3.06	1.70	1.75	1.74	1.72	1.64	1.66
Amortization Expense	3.13	2.83	3.00	2.26	2.43	2.50	2.62	2.93
Non-Cash Adjustments To Reconcile Net Income	2.84	3.05	5.34	-16	6.57	5.53	6.15	6.00
Changes in Operating Assets and Liabilities, net	-16	16	-25	2.68	-4.32	12	3.24	32
Net Cash From Investing Activities	-223	-43	-4.04	83	4.31	-14	-4.23	-8.42
Net Cash From Continuing Investing Activities	-223	-43	-4.04	83	4.31	-14	-4.23	-8.42
Purchase of Property, Plant & Equipment	-3.66	-5.60	-6.60	-3.99	-5.14	-4.50	-3.96	-5.03
Purchase of Investments	-209	-53	-33	-28	-26	-45	-32	-34
Sale and/or Maturity of Investments	-	16	36	115	36	35	31	31
Other Investing Activities, net	0.01	-0.05	-0.01	-0.00	-0.00	-0.06	0.00	-0.02
Net Cash From Financing Activities	-17	-7.17	-7.41	-98	-6.17	-5.62	-4.27	-0.81
Net Cash From Continuing Financing Activities	-17	-7.17	-7.41	-98	-6.17	-5.62	-4.27	-0.81
Repurchase of Common Equity	-16	-6.77	-6.36	-1.18	-5.72	-5.27	-4.02	-0.21
Other Financing Activities, net	0.19	0.21	-0.55	-	-	-	0.00	-0.60
Effect of Exchange Rate Changes	-1.30	1.13	-0.44	-0.81	-0.32	0.56	0.36	-1.40
Cash Interest Paid	3.62	0.11	3.58	0.85	1.81	-0.21	1.82	0.06
Cash Income Taxes Paid	1.36	2.79	2.31	3.77	1.47	1.05	2.13	-0.85

This table presents Outbrain's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	796	781	665	549
Total Current Assets	676	501	402	343
Cash & Equivalents	455	106	71	89
Short-Term Investments	0.00	167	94	77
Accounts Receivable	193	181	189	149
Prepaid Expenses	28	47	47	28
Plant, Property, & Equipment, net	28	40	42	45
Total Noncurrent Assets	92	241	220	161
Long-Term Investments	0.00	79	66	0.00
Goodwill	33	63	63	63
Intangible Assets	5.72	25	20	17
Noncurrent Deferred & Refundable Income Taxes	33	36	38	41
Other Noncurrent Operating Assets	20	39	33	40
Total Liabilities & Shareholders' Equity	796	781	665	549
Total Liabilities	539	563	442	318
Total Current Liabilities	288	300	298	289
Accounts Payable	161	148	151	149
Accrued Expenses	100	126	120	114
Current Deferred Revenue	4.78	6.70	8.49	6.93
Current Employee Benefit Liabilities	23	20	19	19
Total Noncurrent Liabilities	251	263	144	28
Long-Term Debt	236	236	118	0.00
Capital Lease Obligations	-	-	9.22	12
Other Noncurrent Operating Liabilities	15	27	17	17
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	257	218	223	231
Total Preferred & Common Equity	257	218	223	231
Preferred Stock	0.00	0.00	0.00	0.00
Total Common Equity	257	218	223	231
Common Stock	435	456	469	485
Retained Earnings	-157	-179	-169	-169
Treasury Stock	-17	-49	-68	-74
Accumulated Other Comprehensive Income / (Loss)	-4.47	-9.91	-9.05	-9.48

This table presents Outbrain's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q1 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	9/30/2023	6/30/2024	9/30/2024
Total Assets	753	746	630	626	530
Total Current Assets	482	481	387	357	326
Cash & Equivalents	138	73	65	75	57
Short-Term Investments	136	179	104	88	73
Accounts Receivable	166	181	171	154	158
Prepaid Expenses	43	48	47	40	38
Plant, Property, & Equipment, net	35	40	43	43	44
Total Noncurrent Assets	236	225	200	227	160
Long-Term Investments	71	66	45	66	0.00
Goodwill	63	63	63	63	63
Intangible Assets	26	23	21	19	18
Noncurrent Deferred & Refundable Income Taxes	41	36	37	43	42
Other Noncurrent Operating Assets	35	37	34	36	37
Total Liabilities & Shareholders' Equity	753	746	630	626	530
Total Liabilities	528	538	412	410	303
Total Current Liabilities	266	275	267	261	273
Accounts Payable	129	138	126	129	123
Accrued Expenses	116	115	117	108	124
Current Deferred Revenue	6.11	6.46	6.83	6.64	6.60
Current Employee Benefit Liabilities	15	16	17	18	19
Total Noncurrent Liabilities	262	263	146	149	30
Long-Term Debt	236	236	118	118	0.00
Capital Lease Obligations	-	-	-	13	13
Other Noncurrent Operating Liabilities	26	27	28	18	18
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	225	208	218	216	227
Total Preferred & Common Equity	225	208	218	216	227
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	225	208	218	216	227
Common Stock	453	459	465	476	481
Retained Earnings	-174	-185	-173	-176	-169
Treasury Stock	-42	-56	-62	-74	-74
Accumulated Other Comprehensive Income / (Loss)	-11	-11	-12	-10	-9.94

This table displays calculated financial ratios and metrics derived from Outbrain's official financial filings.

Metric	2021	2022	2023	2024
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-
Revenue Growth	32.39%	-2.32%	-5.67%	-4.91%
EBITDA Growth	-55.63%	-4.85%	172.49%	-56.89%
EBIT Growth	-188.34%	-80.81%	203.00%	-127.63%
NOPAT Growth	317.33%	-139.21%	42.95%	197.47%
Net Income Growth	152.35%	-323.57%	141.67%	-106.94%
EPS Growth	150.00%	-320.00%	86.36%	-83.33%
Operating Cash Flow Growth	7.13%	-93.28%	260.50%	398.77%
Free Cash Flow Firm Growth	-243.99%	-208.47%	70.28%	314.54%
Invested Capital Growth	439.49%	174.33%	16.36%	-35.47%
Revenue Q/Q Growth	0.00%	-3.10%	-0.85%	0.00%
EBITDA Q/Q Growth	0.00%	162.05%	144.78%	0.00%
EBIT Q/Q Growth	0.00%	-1,510.94%	329.18%	0.00%
NOPAT Q/Q Growth	0.00%	-1,510.94%	-235.00%	0.00%
Net Income Q/Q Growth	0.00%	-211.12%	125.15%	0.00%
EPS Q/Q Growth	0.00%	-180.00%	72.73%	0.00%
Operating Cash Flow Q/Q Growth	-19.53%	121.69%	156.98%	33.45%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-119.38%	0.00%
Invested Capital Q/Q Growth	0.00%	-11.64%	0.00%	0.00%
Profitability Metrics	-	-	-	-
Gross Margin	23.66%	19.42%	19.75%	21.59%
EBITDA Margin	1.18%	1.15%	3.32%	1.50%
Operating Margin	3.40%	-1.37%	-0.92%	-1.42%
EBIT Margin	-0.74%	-1.37%	1.49%	-0.43%
Profit (Net Income) Margin	1.08%	-2.48%	1.09%	-0.08%
Tax Burden Percent	-75.65%	132.35%	62.62%	-41.73%
Interest Burden Percent	193.98%	137.09%	117.20%	-44.19%
Effective Tax Rate	0.00%	0.00%	37.38%	141.73%
Return on Invested Capital (ROIC)	183.47%	-13.56%	-4.88%	5.37%
ROIC Less NNEP Spread (ROIC-NNEP)	191.90%	-4.53%	-19.17%	10.01%
Return on Net Nonoperating Assets (RNNOA)	-176.99%	3.20%	9.52%	-5.69%
Return on Equity (ROE)	6.48%	-10.36%	4.65%	-0.31%
Cash Return on Invested Capital (CROIC)	-64.74%	-106.70%	-20.00%	48.48%
Operating Return on Assets (OROA)	-1.30%	-1.72%	1.93%	-0.64%
Return on Assets (ROA)	1.91%	-3.12%	1.42%	-0.12%
Return on Common Equity (ROCE)	3.38%	-10.36%	4.65%	-0.31%
Return on Equity Simple (ROE_SIMPLE)	4.28%	-11.29%	4.59%	-0.31%
Net Operating Profit after Tax (NOPAT)	24	-9.48	-5.41	5.27
NOPAT Margin	2.38%	-0.96%	-0.58%	0.59%
Net Nonoperating Expense Percent (NNEP)	-8.43%	-9.02%	14.29%	-4.64%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.09%	-1.54%	2.17%
Cost of Revenue to Revenue	76.34%	80.58%	80.25%	78.41%
SG&A Expenses to Revenue	6.97%	5.75%	6.27%	7.88%
R&D to Revenue	3.86%	4.06%	3.89%	4.17%
Operating Expenses to Revenue	20.25%	20.78%	20.67%	23.01%
Earnings before Interest and Taxes (EBIT)	-7.49	-14	14	-3.86
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12	11	31	13
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	3.03	0.87	0.98	1.54
Price to Tangible Book Value (P/TBV)	3.56	1.46	1.57	2.36
Price to Revenue (P/Rev)	0.77	0.19	0.23	0.40
Price to Earnings (P/E)	70.68	0.00	21.45	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.41%	0.00%	4.66%	0.00%
Enterprise Value to Invested Capital (EV/IC)	14.92	0.73	0.97	2.63
Enterprise Value to Revenue (EV/Rev)	0.55	0.08	0.12	0.23
Enterprise Value to EBITDA (EV/EBITDA)	46.57	6.58	3.73	15.10
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	8.31	0.00
Enterprise Value to NOPAT (EV/NOPAT)	23.06	0.00	0.00	38.33
Enterprise Value to Operating Cash Flow (EV/OCF)	9.83	19.67	8.43	2.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	4.25
Leverage & Solvency	-	-	-	-
Debt to Equity	0.92	1.08	0.57	0.05
Long-Term Debt to Equity	0.92	1.08	0.57	0.05
Financial Leverage	-0.92	-0.71	-0.50	-0.57
Leverage Ratio	3.40	3.32	3.28	2.67
Compound Leverage Factor	6.59	4.56	3.84	-1.18
Debt to Total Capital	47.89%	52.01%	36.32%	4.85%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	47.89%	52.01%	36.32%	4.85%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	52.11%	47.99%	63.68%	95.15%
Debt to EBITDA	19.70	20.71	4.10	0.88
Net Debt to EBITDA	-18.32	-10.11	-3.34	-11.53
Long-Term Debt to EBITDA	19.70	20.71	4.10	0.88
Debt to NOPAT	9.76	-24.89	-23.52	2.23
Net Debt to NOPAT	-9.07	12.15	19.18	-29.27
Long-Term Debt to NOPAT	9.76	-24.89	-23.52	2.23
Altman Z-Score	2.42	1.40	1.61	1.96
Noncontrolling Interest Sharing Ratio	47.86%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-
Current Ratio	2.34	1.67	1.35	1.19
Quick Ratio	2.25	1.51	1.19	1.09
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	-24	-75	-22	48
Operating Cash Flow to CapEx	283.05%	14.70%	67.94%	396.47%
Free Cash Flow to Firm to Interest Expense	-6.10	-9.79	-4.11	13.04
Operating Cash Flow to Interest Expense	14.32	0.50	2.55	18.79
Operating Cash Flow Less CapEx to Interest Expense	9.26	-2.90	-1.20	14.05
Efficiency Ratios	-	-	-	-
Asset Turnover	1.76	1.26	1.29	1.47
Accounts Receivable Turnover	5.67	5.30	5.05	5.26
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	38.50	29.22	22.73	20.29
Accounts Payable Turnover	5.55	5.18	5.03	4.65
Days Sales Outstanding (DSO)	64.38	68.81	72.27	69.42
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	65.73	70.41	72.53	78.54
Cash Conversion Cycle (CCC)	-1.36	-1.60	-0.26	-9.12
Capital & Investment Metrics	-	-	-	-
Invested Capital	37	103	119	77
Invested Capital Turnover	77.04	14.18	8.44	9.07
Increase / (Decrease) in Invested Capital	48	65	17	-42
Enterprise Value (EV)	558	75	116	202
Market Capitalization	777	190	220	356
Book Value per Share	$4.63	$4.14	$4.45	$4.66
Tangible Book Value per Share	$3.93	$2.48	$2.78	$3.05
Total Capital	493	454	350	243
Total Debt	236	236	127	12
Total Long-Term Debt	236	236	127	12
Net Debt	-219	-115	-104	-154
Capital Expenditures (CapEx)	20	26	20	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-68	-72	-61	-112
Debt-free Net Working Capital (DFNWC)	388	200	104	54
Net Working Capital (NWC)	388	200	104	54
Net Nonoperating Expense (NNE)	13	15	-16	5.98
Net Nonoperating Obligations (NNO)	-219	-115	-104	-154
Total Depreciation and Amortization (D&A)	19	25	17	17
Debt-free, Cash-free Net Working Capital to Revenue	-6.68%	-7.27%	-6.52%	-12.64%
Debt-free Net Working Capital to Revenue	38.16%	20.20%	11.13%	6.03%
Net Working Capital to Revenue	38.16%	20.20%	11.13%	6.03%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.31	($0.44)	$0.20	($0.01)
Adjusted Weighted Average Basic Shares Outstanding	35.16M	55.62M	50.90M	49.32M
Adjusted Diluted Earnings per Share	$0.20	($0.44)	($0.06)	($0.11)
Adjusted Weighted Average Diluted Shares Outstanding	53.89M	55.62M	56.97M	52.71M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	57.22M	51.16M	49.05M	93.94M
Normalized Net Operating Profit after Tax (NOPAT)	24	-9.48	-5.41	-8.85
Normalized NOPAT Margin	2.38%	-0.96%	-0.58%	-0.99%
Pre Tax Income Margin	-1.43%	-1.87%	1.75%	0.19%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	-1.89	-1.78	2.59	-1.06
NOPAT to Interest Expense	6.10	-1.24	-1.00	1.45
EBIT Less CapEx to Interest Expense	-6.95	-5.18	-1.16	-5.80
NOPAT Less CapEx to Interest Expense	1.04	-4.65	-4.76	-3.29
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	162.34%	-132.88%	180.83%	-928.27%

This table displays calculated financial ratios and metrics derived from Outbrain's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q3 2024
Period end date	9/30/2022	12/31/2022	6/30/2023	9/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	-8.68%	-10.94%	-11.18%	-8.32%	0.44%	-3.09%	-5.16%	-2.54%
EBITDA Growth	-102.51%	103.29%	209.60%	71.21%	748.57%	-190.15%	-106.97%	-14.02%
EBIT Growth	-36.07%	88.17%	20,082.43%	191.00%	137.04%	-69.48%	-137.68%	122.63%
NOPAT Growth	-10.24%	-104.37%	-10,970.80%	143.39%	117.66%	-69.48%	30.05%	-384.93%
Net Income Growth	91.42%	-119.89%	696.93%	104.92%	110.99%	73.47%	-119.49%	1,218.11%
EPS Growth	92.92%	-117.86%	-200.00%	105.56%	112.50%	106.67%	55.56%	0.00%
Operating Cash Flow Growth	-133.51%	495.83%	-675.39%	20.91%	157.02%	49.16%	142.02%	0.00%
Free Cash Flow Firm Growth	-921.53%	0.00%	48.10%	66.67%	181.83%	68.81%	108.90%	-195.58%
Invested Capital Growth	630.29%	174.33%	45.38%	34.30%	0.00%	16.36%	-6.30%	0.00%
Revenue Q/Q Growth	-8.72%	12.64%	-12.47%	1.87%	0.00%	8.68%	0.00%	0.00%
EBITDA Q/Q Growth	-126.98%	312.52%	783.27%	-66.19%	2.20%	-129.54%	0.00%	0.00%
EBIT Q/Q Growth	-145.68%	48.11%	506.95%	-82.46%	0.00%	-337.40%	0.00%	0.00%
NOPAT Q/Q Growth	-145.68%	48.11%	-119.19%	115.53%	0.00%	-597.90%	0.00%	0.00%
Net Income Q/Q Growth	55.19%	-67.58%	245.59%	-95.50%	0.00%	-504.72%	0.00%	0.00%
EPS Q/Q Growth	55.56%	-87.50%	40.00%	111.11%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-903.24%	240.73%	-219.89%	108.92%	278.76%	268.16%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-56.62%	52.60%	33.51%	32.49%	484.56%	-118.07%	0.00%	0.00%
Invested Capital Q/Q Growth	27.26%	-11.64%	23.10%	-2.98%	-100.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	18.30%	18.64%	19.50%	20.17%	20.17%	19.20%	21.28%	21.80%
EBITDA Margin	-0.46%	0.86%	8.70%	2.89%	2.95%	-0.80%	-0.64%	2.60%
Operating Margin	-3.09%	-1.42%	-3.39%	1.14%	1.14%	-2.49%	-2.63%	-1.32%
EBIT Margin	-3.09%	-1.42%	6.61%	1.14%	1.14%	-2.49%	-2.63%	2.60%
Profit (Net Income) Margin	-2.02%	-3.00%	5.00%	0.22%	0.22%	-0.82%	-1.03%	2.99%
Tax Burden Percent	79.75%	626.43%	73.52%	33.38%	33.38%	101.08%	63.74%	84.49%
Interest Burden Percent	81.97%	33.71%	102.75%	58.09%	58.09%	32.70%	61.31%	135.86%
Effective Tax Rate	0.00%	0.00%	26.48%	66.62%	66.62%	0.00%	0.00%	15.51%
Return on Invested Capital (ROIC)	-47.01%	-14.12%	-22.56%	3.36%	0.00%	-14.69%	-13.90%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-47.20%	-11.03%	-35.74%	3.65%	0.00%	-16.79%	-15.84%	0.00%
Return on Net Nonoperating Assets (RNNOA)	37.31%	7.78%	19.53%	-1.97%	0.00%	8.34%	6.71%	0.00%
Return on Equity (ROE)	-9.70%	-6.35%	-3.03%	1.38%	0.00%	-6.35%	-7.20%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	-106.70%	-50.97%	-28.40%	0.00%	-20.00%	2.72%	0.00%
Operating Return on Assets (OROA)	-4.21%	-1.79%	8.22%	1.51%	0.00%	-3.22%	-3.54%	0.00%
Return on Assets (ROA)	-2.76%	-3.78%	6.21%	0.29%	0.00%	-1.06%	-1.38%	0.00%
Return on Common Equity (ROCE)	-9.70%	-6.35%	-3.03%	1.38%	0.00%	-6.35%	-7.20%	0.00%
Return on Equity Simple (ROE_SIMPLE)	9.83%	0.00%	-5.49%	-0.27%	0.00%	0.00%	-1.50%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.95	-2.57	-5.63	0.87	0.87	-4.35	-3.94	-2.49
NOPAT Margin	-2.16%	-1.00%	-2.49%	0.38%	0.38%	-1.74%	-1.84%	-1.11%
Net Nonoperating Expense Percent (NNEP)	0.18%	-3.10%	13.18%	-0.29%	0.00%	2.10%	1.94%	15.59%
Cost of Revenue to Revenue	81.70%	81.36%	80.50%	79.83%	79.83%	80.80%	78.72%	78.20%
SG&A Expenses to Revenue	5.34%	6.14%	6.97%	5.92%	5.92%	6.28%	7.95%	8.73%
R&D to Revenue	4.33%	3.67%	4.45%	3.77%	3.77%	3.60%	4.39%	4.04%
Operating Expenses to Revenue	21.39%	20.06%	22.89%	19.03%	19.03%	21.69%	23.91%	23.11%
Earnings before Interest and Taxes (EBIT)	-7.07	-3.67	15	2.62	2.62	-6.22	-5.63	5.83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.05	2.22	20	6.64	6.78	-2.00	-1.37	5.83
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.90	0.87	1.21	1.14	0.00	0.98	1.13	1.05
Price to Tangible Book Value (P/TBV)	1.50	1.46	2.07	1.85	0.00	1.57	1.81	1.64
Price to Revenue (P/Rev)	0.20	0.19	0.26	0.26	0.26	0.23	0.26	0.00
Price to Earnings (P/E)	9.20	0.00	0.00	0.00	54.57	21.45	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	10.87%	0.00%	0.00%	0.00%	1.83%	4.66%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.81	0.73	1.35	1.24	0.00	0.97	1.23	1.11
Enterprise Value to Revenue (EV/Rev)	0.09	0.08	0.18	0.16	0.00	0.12	0.16	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	6.58	81.13	31.36	0.00	3.73	14.48	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	8.31	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	162.74	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	19.67	0.00	0.00	0.00	8.43	3.40	2.36
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	43.78	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	1.05	1.08	1.14	0.54	0.00	0.57	0.61	0.06
Long-Term Debt to Equity	1.05	1.08	1.14	0.54	0.00	0.57	0.61	0.06
Financial Leverage	-0.79	-0.71	-0.55	-0.54	0.00	-0.50	-0.42	-0.52
Leverage Ratio	3.34	3.32	3.30	3.06	0.00	3.28	3.24	2.33
Compound Leverage Factor	2.74	1.12	3.39	1.78	0.00	1.07	1.98	3.17
Debt to Total Capital	51.20%	52.01%	53.16%	35.08%	0.00%	36.32%	37.79%	5.27%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	51.20%	52.01%	53.16%	35.08%	0.00%	36.32%	37.79%	5.27%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	48.80%	47.99%	46.84%	64.92%	0.00%	63.68%	62.21%	94.73%
Debt to EBITDA	-12.85	20.71	112.65	24.30	0.00	4.10	13.06	0.00
Net Debt to EBITDA	5.93	-10.11	-38.99	-19.76	0.00	-3.34	-9.72	0.00
Long-Term Debt to EBITDA	-12.85	20.71	112.65	24.30	0.00	4.10	13.06	0.00
Debt to NOPAT	-400.88	-24.89	-15.84	126.09	0.00	-23.52	-28.37	0.00
Net Debt to NOPAT	185.05	12.15	5.48	-102.52	0.00	19.18	21.12	0.00
Long-Term Debt to NOPAT	-400.88	-24.89	-15.84	126.09	0.00	-23.52	-28.37	0.00
Altman Z-Score	1.58	1.44	1.62	1.72	0.00	1.51	1.59	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	1.81	1.67	1.75	1.45	0.00	1.35	1.36	1.20
Quick Ratio	1.65	1.51	1.57	1.28	0.00	1.19	1.21	1.06
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-143	-68	-45	-30	117	-21	4.01	-112
Operating Cash Flow to CapEx	-331.97%	305.00%	-310.18%	45.77%	134.63%	566.16%	217.19%	0.00%
Free Cash Flow to Firm to Interest Expense	-74.26	-36.08	-40.75	-20.88	80.30	-15.35	7.05	-77.39
Operating Cash Flow to Interest Expense	-6.31	9.10	-18.53	1.25	4.75	18.52	15.12	0.00
Operating Cash Flow Less CapEx to Interest Expense	-8.21	6.12	-24.51	-1.49	1.22	15.24	8.16	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	1.36	1.26	1.24	1.32	0.00	1.29	1.35	0.00
Accounts Receivable Turnover	6.26	5.30	5.34	5.36	0.00	5.05	5.51	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	34.22	29.22	27.55	24.39	0.00	22.73	22.21	0.00
Accounts Payable Turnover	6.06	5.18	5.71	5.95	0.00	5.03	5.52	0.00
Days Sales Outstanding (DSO)	58.26	68.81	68.32	68.07	0.00	72.27	66.21	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	60.21	70.41	63.88	61.33	0.00	72.53	66.08	0.00
Cash Conversion Cycle (CCC)	-1.95	-1.60	4.44	6.74	0.00	-0.26	0.13	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	116	103	126	122	0.00	119	118	109
Invested Capital Turnover	21.75	14.18	9.05	8.83	0.00	8.44	7.56	0.00
Increase / (Decrease) in Invested Capital	138	65	39	31	-116	17	-7.95	109
Enterprise Value (EV)	95	75	170	152	0.00	116	146	121
Market Capitalization	203	190	252	248	248	220	243	239
Book Value per Share	$4.04	$4.14	$4.06	$4.28	$0.00	$4.45	$4.42	$4.62
Tangible Book Value per Share	$2.44	$2.48	$2.38	$2.63	$0.00	$2.78	$2.75	$2.97
Total Capital	461	454	444	336	0.00	350	347	240
Total Debt	236	236	236	118	0.00	127	131	13
Total Long-Term Debt	236	236	236	118	0.00	127	131	13
Net Debt	-109	-115	-82	-96	0.00	-104	-98	-118
Capital Expenditures (CapEx)	3.66	5.60	6.60	3.99	5.14	4.50	3.96	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-58	-72	-46	-48	0.00	-61	-67	-77
Debt-free Net Working Capital (DFNWC)	216	200	206	120	0.00	104	95	53
Net Working Capital (NWC)	216	200	206	120	0.00	104	95	53
Net Nonoperating Expense (NNE)	-0.33	5.18	-17	0.37	0.37	-2.30	-1.74	-9.19
Net Nonoperating Obligations (NNO)	-109	-115	-82	-96	0.00	-104	-98	-118
Total Depreciation and Amortization (D&A)	6.03	5.89	4.70	4.02	4.16	4.22	4.26	0.00
Debt-free, Cash-free Net Working Capital to Revenue	-5.65%	-7.27%	-4.79%	-5.12%	0.00%	-6.52%	-7.30%	0.00%
Debt-free Net Working Capital to Revenue	21.13%	20.20%	21.33%	12.76%	0.00%	11.13%	10.30%	0.00%
Net Working Capital to Revenue	21.13%	20.20%	21.33%	12.76%	0.00%	11.13%	10.30%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	($0.15)	($0.11)	$0.01	$0.00	($0.04)	($0.04)	$0.14
Adjusted Weighted Average Basic Shares Outstanding	55.23M	55.62M	51.44M	50.88M	0.00	50.90M	48.92M	49.33M
Adjusted Diluted Earnings per Share	($0.08)	($0.15)	($0.11)	$0.01	$0.00	$0.01	($0.04)	$0.01
Adjusted Weighted Average Diluted Shares Outstanding	55.23M	55.62M	51.44M	51.24M	0.00	56.97M	48.92M	53.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	52.56M	51.16M	51.15M	50.16M	0.00	49.05M	49.21M	49.65M
Normalized Net Operating Profit after Tax (NOPAT)	-4.95	-2.57	-5.63	1.83	1.83	-4.35	-3.94	-2.49
Normalized NOPAT Margin	-2.16%	-1.00%	-2.49%	0.80%	0.80%	-1.74%	-1.84%	-1.11%
Pre Tax Income Margin	-2.53%	-0.48%	6.80%	0.66%	0.66%	-0.81%	-1.61%	3.54%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.68	-1.96	13.52	1.80	1.80	-4.52	-9.89	4.04
NOPAT to Interest Expense	-2.57	-1.37	-5.10	0.60	0.60	-3.16	-6.92	-1.73
EBIT Less CapEx to Interest Expense	-5.58	-4.94	7.54	-0.94	-1.73	-7.79	-16.85	0.00
NOPAT Less CapEx to Interest Expense	-4.47	-4.35	-11.07	-2.14	-2.93	-6.43	-13.89	0.00
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	178.00%	-132.88%	-326.94%	-5,252.83%	440.21%	180.83%	-499.57%	0.00%

Frequently Asked Questions About Outbrain's Financials

When does Outbrain's financial year end?

According to the most recent income statement we have on file, Outbrain's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Outbrain's net income changed over the last 3 years?

Outbrain's net income appears to be on an upward trend, with a most recent value of -$711 thousand in 2024, falling from $11.00 million in 2021. The previous period was $10.24 million in 2023. Check out Outbrain's forecast to explore projected trends and price targets.

What is Outbrain's operating income?

Outbrain's total operating income in 2024 was -$12.64 million, based on the following breakdown:

Total Gross Profit: $192.10 million
Total Operating Expenses: $204.74 million

How has Outbrain revenue changed over the last 3 years?

Over the last 3 years, Outbrain's total revenue changed from $1.02 billion in 2021 to $889.88 million in 2024, a change of -12.4%.

How much debt does Outbrain have?

Outbrain's total liabilities were at $317.87 million at the end of 2024, a 28.0% decrease from 2023, and a 41.0% decrease since 2021.

How much cash does Outbrain have?

In the past 3 years, Outbrain's cash and equivalents has ranged from $70.89 million in 2023 to $455.40 million in 2021, and is currently $89.09 million as of their latest financial filing in 2024.

How has Outbrain's book value per share changed over the last 3 years?

Over the last 3 years, Outbrain's book value per share changed from 4.63 in 2021 to 4.66 in 2024, a change of 0.7%.

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This page (NASDAQ:OB) was last updated on 5/5/2025 by MarketBeat.com Staff

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Outbrain (OB) Financials

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