Matthew Condon • JMP Securities

Answer

CEO Ofer Druker described the VIDA inventory opportunity from in-stream and on-platform ads as a 'massive amount of impressions' that will ramp through 2026, with more specific forecasts expected early next year. He characterized the data and technology licensing business as a key differentiator and a potentially 'massive' future profit center, driving both direct license fees and deeper platform partnerships.

Ask Fintool Equity Research AI

Answer

CFO Sagi Niri emphasized that Nexxen is well-diversified and not reliant on any single partnership. He stated that approximately 50% of DSP spend is facilitated through their SSP, a figure he believes could grow to 60% over the next three years, which would contribute to margin expansion. However, he noted this is ultimately determined by algorithms and client choice, not direct control.

Ask Fintool Equity Research AI

Answer

CEO Ofer Druker explained that AI will simplify the platform, eventually opening it to smaller advertisers, though the immediate focus is on major partners. He highlighted that AI agents will optimize campaigns across the entire end-to-end stack. For data licensing growth, Ofer Druker cited two main drivers: winning new business with a clearer go-to-market strategy and expanding revenue from the existing client base by increasing engagement and cross-selling different ad formats.

Ask Fintool Equity Research AI

Answer

COO Chris Vanderhook explained that Viant AI is designed to lower the barriers for customers switching *to* Viant by removing complexity, thereby attacking incumbent DSPs. CEO Tim Vanderhook stated that the company is actively investing in an enterprise sales team to build direct relationships with advertisers, which will strengthen client-level awareness and help prevent future losses from agency changes.

Ask Fintool Equity Research AI

Answer

COO Chris Vanderhook expressed high confidence in the deferred spend, stating it has already been rescheduled in their system. CEO Tim Vanderhook clarified that Viant's Household ID is a superior, people-based identifier tied to physical postal addresses, unlike Google's solution which uses less reliable digital IP addresses. Chris Vanderhook added that Google still restricts IP address sharing in its AdX exchange, limiting the utility for others.

Ask Fintool Equity Research AI

Answer

COO Chris Vanderhook outlined a strategy focused not on all SMBs, but on a core group of high-spending direct-to-consumer e-commerce companies currently reliant on walled gardens. The approach is to use ViantAI to make the platform, particularly for CTV, exceptionally easy to use and to demonstrate clear, incremental customer acquisition value, thereby attracting budgets away from search and social channels.

Ask Fintool Equity Research AI

Answer

COO Chris Vanderhook confirmed the IRIS signal will enhance the AI bidder by providing rich data about video content, enabling more precise bidding based on performance. Regarding smaller advertisers, he stated the strategy is to improve accessibility to the open ecosystem for e-commerce and DTC brands through automation, not a large sales force. CEO Tim Vanderhook added that the intuitive ViantAI interface is central to this plan, making programmatic advertising accessible to businesses like a local pizza shop.

Ask Fintool Equity Research AI

Answer

CEO Jeff Stibel stated that customer engagement data is a primary driver of the product roadmap, citing the 'Concierge' suite as a direct result of realizing many small businesses struggle with compliance. The strategy is to offer a 'Do It For Me' (DIFM) solution where customers pay more to save time. Stibel described a model of testing new DIFM products cost-effectively, then building AI and automation to scale them profitably, indicating that DIFM will become a larger part of the business over time.

Ask Fintool Equity Research AI

Answer

President and CEO Hayden Brown responded that the variable fee testing is still being fine-tuned and is not yet fully rolled out, but is expected to positively impact both GSV and revenue. Regarding internal AI, she emphasized the goal is to enhance employee effectiveness, citing that 35% of shipped code is AI-generated and customer support is more efficient. She confirmed the impact is reflected in the margin structure and that there is more opportunity ahead.

Ask Fintool Equity Research AI

Answer

CEO Jeff Kip attributed the marketing dynamic to a mix shift from declining free organic traffic to paid channels, which increases average cost. CFO Andrew Russakoff reiterated that the goal is maximizing aggregate profit, not a specific efficiency ratio. On the supply side, Kip explained that their machine-learning approach to acquisition and the higher capacity of new pros help balance the network effectively.

Ask Fintool Equity Research AI

Answer

CEO Adam Singolda explained that Realize's growth depends on capturing performance budgets from the fragmented display ad market and from advertisers seeing diminishing returns on social platforms. CFO Stephen Walker added that the 9% growth in scaled advertisers was driven by strong sales execution, which provides the 'fuel for future growth' as these new clients can be scaled over time.

Ask Fintool Equity Research AI

Answer

CEO Adam Singolda acknowledged some past impact from search changes on publisher traffic but believes supply is not a concern and that publishers can grow the pie by adopting AI to increase engagement. He stated that the auction depth is being increased by integrating unique data from partners (OEMs, utility apps) and, most significantly, by the Realize platform, which introduces new ad formats and budgets, with the AI assistant Abby enhancing the user experience.

Ask Fintool Equity Research AI

Answer

CEO Mark Zagorski explained that upselling Moat clients is a gradual process, noting these wins contributed only one percentage point to first-half growth, indicating significant future runway. CFO Nicola Allais stated that while revenue is strong, the company will maintain its philosophy of reinvesting for top-line growth. She reaffirmed the full-year adjusted EBITDA margin guidance of approximately 32%, which accounts for the dilutive impact of the RockerBox acquisition.

Ask Fintool Equity Research AI

Answer

People Inc. CEO Neil Vogel confirmed there is still a significant opportunity to improve yields on owned-and-operated properties as Decipher gets smarter and the value of their brands increases. IAC CFO & COO Christopher Halpin addressed Care.com, explaining that the sequential decline in the enterprise segment is due to seasonality, with Q2 typically being the lightest quarter, and that the long-term tailwind for employer-provided backup care remains strong.

Ask Fintool Equity Research AI

Answer

CFO Dan Jedda shared that early integrations for Friendly, like adding it to the default home screen apps and live TV search, are progressing well. Founder, Chairman & CEO Anthony Wood addressed the Walmart situation by expressing confidence in continued household growth, citing Roku's powerful brand, superior user experience, and hundreds of millions in annual distribution investments that can be strategically reallocated across retail partners.

Ask Fintool Equity Research AI

Answer

CEO Anthony Wood and President of Roku Media Charlie Collier described home screen monetization as a key strategy, including marquee video ads and content recommendations, which are driving engagement and revenue. CFO Dan Jedda explained that weak holiday market sales led to excess inventory and price reductions, impacting device margins in Q4 and into Q1, but expects margins to normalize for the full year.

Ask Fintool Equity Research AI

Answer

Ofer Katz, President & CFO, responded that the quarter's performance was in line with expectations and prior guidance, which anticipated the Marketplace being flat to a low-single-digit decline. He stated that a similar trend is predicted for the second half of the year and that marketing ROI also remains within the expected framework.

Ask Fintool Equity Research AI

Answer

CEO Paul Hennessy stated that while the company doesn't provide specific pipeline details, they are very bullish on the data business due to strong demand and a favorable regulatory environment. He noted that Envato's diverse content library presents a significant opportunity to expand the data business. On cross-selling, Hennessy explained that Envato's offering fits perfectly between Shutterstock's existing products for small and medium-sized customers and that the addition of a large, highly retentive subscriber base is a major asset for future growth.

Ask Fintool Equity Research AI