NEW YORK - Outbrain (NASDAQ:OB), a global technology platform specializing in driving business results on the open internet, announced today the appointment of Greg Archibald as the General Manager & Senior Vice President of Sales in the United States.
Archibald, a veteran in the AdTech industry, will be responsible for leading the company's US sales strategies, particularly focusing on the growth, adoption, and retention of Outbrain's advertising solutions, including Onyx by Outbrain.
Archibald's extensive background includes over twenty years of experience in sales leadership roles at notable companies such as Criteo, Yahoo, and InMobi. His tenure at InMobi as Senior Vice President of Americas Media saw him spearheading revenue operations, and at Criteo, as Executive Vice President for the Americas, he was instrumental in driving substantial growth in market share and revenue.
David Kostman, CEO of Outbrain, praised Archibald's proven sales leadership and commitment to customer success, noting these qualities as crucial for Outbrain's expansion in the US. Alexander Erlmeier, Chief Revenue Officer of Outbrain, echoed this sentiment, expressing confidence in Archibald's ability to enhance the company's offerings to enterprise and direct-to-consumer brands.
Archibald expressed his eagerness to join Outbrain, emphasizing the company's reputation for delivering innovative solutions that foster connections between brands and engaged audiences online. He also highlighted his commitment to driving real outcomes for customers through Outbrain's offerings.
Outbrain, headquartered in New York, leverages AI and machine learning to predict moments of engagement that drive measurable outcomes for advertisers and publishers. The company operates across more than 8,000 online properties globally.
This announcement is based on a press release statement from Outbrain. The company cautions that forward-looking statements involve substantial risks and uncertainties, and actual events or results may differ materially from those projected. Outbrain does not undertake any obligation to update any forward-looking statement after the date on which it is made.
In other recent news, Outbrain Inc. reported its Q1 2024 earnings, marking significant achievements despite a challenging market. The company's gross profit reached $52.2 million, surpassing its adjusted EBITDA guidance at $1.4 million. Despite a 6% year-over-year decline in revenue to approximately $217 million, Outbrain generated a positive free cash flow and maintained its full-year guidance.
The company also made strides in strategic initiatives, launching Onyx in Japan and focusing on artificial intelligence for business efficiency. These efforts are part of Outbrain's ambition to become a dominant gateway for advertisers on the open internet. Recent developments also include robust publisher partnerships and a share repurchase program.
Analysts note that although Q2 was more impacted than expected, sequential growth is anticipated. The company's full-year 2024 guidance remains unchanged at $238 million to $248 million for gross profit and $30 million to $35 million for adjusted EBITDA. Outbrain ended Q2 with $232 million in cash and plans for further market expansion.
InvestingPro Insights
As Outbrain (NASDAQ:OB) welcomes Greg Archibald to lead its US sales strategies, the company's financial health and market performance remain a key interest to investors. Outbrain's commitment to driving business results is reflected in its management's actions, such as the aggressive share buybacks highlighted in one of the InvestingPro Tips. This indicates a strong belief in the company's value by its leadership, potentially signaling confidence to the market.
Another noteworthy InvestingPro Tip for Outbrain is its financial position, holding more cash than debt on its balance sheet. This is a positive sign for investors, as it suggests the company has a solid foundation to invest in growth initiatives and weather economic uncertainties.
From the real-time data provided by InvestingPro, Outbrain's market capitalization stands at $224.19M, with a P/E ratio that suggests the stock is trading at a low revenue valuation multiple, which could be appealing to value investors. Furthermore, the company's gross profit margin over the last twelve months as of Q1 2024 is 20.11%, which, despite being indicative of some challenges in profitability, is paired with an impressive EBITDA growth of 210.68% during the same period. This growth in EBITDA could point to potential operational improvements and efficiency gains.
For those interested in deeper analysis, there are additional InvestingPro Tips available that provide further insight into Outbrain's financial health and market prospects. To explore these insights and make informed investment decisions, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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