Executive Summary

Revenue grew 182% year over year to $22.78M in Q3 2022, with EBITDA up 268% to $1.16M and operating income turning positive to $0.43M; non-GAAP net income rose 56% to $0.84M .
Management attributes the surge primarily to consolidation following the October 2021 Cortex acquisition, citing financial and synergistic benefits and continued focus on mar-tech/ad-tech scaling .
Cash generation was strong: net cash from operations reached $1.58M (+202% YoY) in Q3; balance sheet showed $3.61M cash and $62.47M total assets as of September 30, 2022 .
No formal forward guidance or earnings call transcript was provided; S&P Global Wall Street consensus estimates for Q3 2022 were unavailable at time of query, limiting beat/miss analysis .

What Went Well and What Went Wrong

Record quarterly revenue and positive operating profit: “Viewbix reached an operating income of $1.4 million” year-to-date, with Q3 operating income of $0.43M and Q3 revenues of $22.78M (+182% YoY) .
Strong non-GAAP performance: Adjusted EBITDA of $1.28M (+278% YoY) and non-GAAP net income of $0.84M (+56% YoY), reflecting operating leverage post-acquisition .
Cash generation improved: Net cash from operations of $1.58M (+202% YoY) underscoring working capital conversion amid growth .
Management quote on strategy: “We entered the field of digital content through a purchase that has proven itself, financially and synergistic… continue [to] pursue opportunities to leverage our growth” — CEO Amihay Hadad .

Shareholder-level profitability mixed: GAAP net income attributable to shareholders was a loss of $0.15M in Q3 2022 with EPS of -$0.01 vs. +$0.01 in Q3 2021 .
Cost intensity rose with scale: Traffic-acquisition and related costs increased to $19.46M in Q3 2022 from $6.74M in Q3 2021, reflecting heavier spend to drive user traffic and monetization .
Limited visibility: No quantified forward guidance and no earnings call materials, constraining insight into near-term margin trajectory and demand signals .

Metric	Q3 2021	Q3 2022
Revenue ($USD Thousands)	$8,079	$22,778
Operating Income ($USD Thousands)	-$111	$427
GAAP Net Income ($USD Thousands)	$91	$71
Net Income Attributable to Shareholders ($USD Thousands)	$91	-$147
EPS – Basic and Diluted (Shareholders) ($USD)	$0.01	-$0.01
EBITDA ($USD Thousands)	$316	$1,163
Adjusted EBITDA ($USD Thousands)	$339	$1,281
Non-GAAP Net Income ($USD Thousands)	$541	$844
Net Cash from Operations ($USD Thousands)	$522	$1,577

Metric ($USD Thousands)	Q3 2021	Q3 2022
Traffic-Acquisition and Related Costs	$6,738	$19,464
Research and Development	$471	$987
Selling and Marketing	$215	$628
General and Administrative	$313	$450
Depreciation and Amortization	$427	$736
Other Expenses	$26	$86

Segment	Q3 2021 Revenue	Q3 2022 Revenue
Search	Not disclosed	Not disclosed
Digital Content	Not disclosed	Not disclosed

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY/Q4	Not provided	Not provided	N/A
Margins (EBITDA/Operating)	FY/Q4	Not provided	Not provided	N/A
OpEx	FY/Q4	Not provided	Not provided	N/A
Tax Rate	FY/Q4	Not provided	Not provided	N/A
Segment Guidance	FY/Q4	Not provided	Not provided	N/A
Dividends	FY/Q4	Not provided	Not provided	N/A

No company earnings call transcript was located; this section reflects press release commentary and corporate disclosures only .

Topic	Previous Mentions (Q-2)	Previous Mentions (Q-1)	Current Period (Q3 2022)	Trend
Digital Content Expansion	Not available	Not available	Cortex acquisition cited as financial and synergistic driver; focus on content monetization	Increasing emphasis
Search/Traffic Optimization	Not available	Not available	Tech tools for automation, optimization, monetization of campaigns highlighted	Ongoing core
Non-GAAP Framework	Not available	Not available	Adjusted EBITDA and non-GAAP net income presented with reconciliation	Continued focus
Macro/Supply Chain/Tariffs	Not available	Not available	Not discussed in press release	N/A
Regulatory/Legal	Not available	Not available	Standard forward-looking statements and SEC framing	Baseline disclosure

Strategic message: “We are proud to report our first results as Viewbix… significant growth that demonstrates the strength of Viewbix and the ability to navigate our numerous activities intelligently… considering entering into additional activities in the fields of advertise and marketing technologies” — Amihay Hadad, CEO .
Acquisition rationale: Management underscores the Cortex acquisition (Oct 2021) as “proven… financially and synergistic,” leveraging digital content to drive revenue and EBITDA growth .
Business model: Viewbix operates across search (tech solutions to optimize and monetize traffic) and digital content (creation/editing to monetize across major ad platforms) .

No Q3 2022 earnings call transcript or Q&A materials were available; no additional clarifications beyond press release disclosures .

S&P Global Wall Street consensus estimates for Q3 2022 EPS and revenue were unavailable at time of query; as a result, beat/miss vs. consensus cannot be assessed. Values retrieved from S&P Global were unavailable due to access limitations.

Step-change revenue scale with consolidation: $22.78M (+182% YoY) and EBITDA $1.16M (+268% YoY) point to stronger monetization post-Cortex acquisition .
Operating inflection: Q3 operating income of $0.43M vs. loss in prior year suggests improving efficiency amid higher volumes .
Cost intensity remains the watch item: traffic-acquisition costs rose to $19.46M, implying continued dependence on paid traffic and the need to optimize CAC-to-revenue yield .
Non-GAAP strength and cash conversion: adjusted EBITDA ($1.28M) and net cash from ops ($1.58M) highlight underlying profitability and working capital management .
Visibility limited: no guidance and no call materials increase uncertainty on near-term margin/segment trajectory; monitor subsequent disclosures for quantification .
Balance sheet expanded with intangibles/goodwill ($33.38M combined), reflecting acquisition strategy; assess amortization and impairment risks against ad market dynamics .
Near-term trading: narrative likely centers on consolidation-driven growth and cash generation vs. rising acquisition costs; watch for future guidance and any updates on content/search unit economics to calibrate expectations .