Outbrain Inc. (OB): Business Model Canvas

In der dynamischen Welt der digitalen Werbung und Inhaltsempfehlung hat sich Outbrain Inc. (OB) zu einer transformativen Plattform entwickelt, die Herausgeber, Werbetreibende und Benutzer durch intelligente algorithmische Technologie nahtlos miteinander verbindet. Durch die Nutzung fortschrittlichen maschinellen Lernens und personalisierter Empfehlungssysteme hat Outbrain die Art und Weise revolutioniert, wie Online-Inhalte in globalen digitalen Ökosystemen entdeckt, monetarisiert und konsumiert werden. Diese umfassende Untersuchung des Business Model Canvas von Outbrain enthüllt die komplexen Strategien und innovativen Ansätze, die das Unternehmen zu einem zentralen Akteur in der sich schnell entwickelnden Adtech-Landschaft gemacht haben.

Outbrain Inc. (OB) – Geschäftsmodell: Wichtige Partnerschaften

Content-Publisher und Medien-Websites

Ab 2024 arbeitet Outbrain mit über 7.500 digitalen Verlagen weltweit zusammen, darunter:

Herausgeberkategorie	Anzahl der Partner
Nachrichten-Websites	2,300
Unterhaltungsseiten	1,500
Lifestyle-Blogs	1,200
Technologieplattformen	850

Digitale Werbeplattformen

Outbrain lässt sich in wichtige digitale Werbeplattformen integrieren:

• Google Ad Manager
• Amazon-Werbeplattform
• Der Handelsschalter
• MediaMath

Anbieter programmatischer Werbetechnologie

Zu den strategischen Partnerschaften gehören:

Anbieter	Integrationsebene
OpenX	Vollständige SSP-Integration
AppNexus	Gebote in Echtzeit
Rubicon-Projekt	Header Bieten

Unternehmen für Datenanalyse- und Empfehlungssoftware

Outbrain arbeitet mit Datenanalyseunternehmen zusammen:

• Comscore
• Nielsen Digital
• Moat Analytics

Marketing-Technologie und AdTech-Startups

Aktive Partnerschaften mit aufstrebenden Technologieunternehmen:

Startup	Technologiefokus
Persado	KI-Inhaltsgenerierung
Albert.ai	Autonomes Marketing
Phrase	E-Mail-Optimierung

Outbrain Inc. (OB) – Geschäftsmodell: Hauptaktivitäten

Entwicklung von Inhaltsempfehlungsalgorithmen

Outbrain investierte im Jahr 2023 23,4 Millionen US-Dollar in Forschung und Entwicklung für Content-Empfehlungstechnologie. Das Unternehmen unterhält 127 aktive maschinelle Lernalgorithmen für die Personalisierung von Inhalten.

Algorithmustyp	Entwicklungskosten	Leistungsmetrik
Content-Matching	8,7 Millionen US-Dollar	87,3 % Genauigkeit
Vorhersage der Benutzerpräferenzen	6,2 Millionen US-Dollar	82,5 % Präzision

Personalisiertes Werbe-Matching

Outbrain verarbeitet täglich 2,3 Milliarden Inhaltsempfehlungen in 55 Ländern.

• Durchschnittliche Anzeigenübereinstimmungsrate: 64,7 %
• Echtzeit-Gebotsvolumen: 1,9 Millionen Anfragen pro Sekunde
• Personalisierungsgenauigkeit: 76,4 %

Verwaltung digitaler Werbeplattformen

Die Plattforminfrastruktur unterstützt 340.000 digitale Publisher und 70.000 Werbetreibende weltweit.

Plattformmetrik	Daten für 2023
Monatlich aktive Publisher	340,000
Monatlich aktive Werbetreibende	70,000
Kosten der Plattforminfrastruktur	41,6 Millionen US-Dollar

Datenanalyse und Benutzerverhaltensverfolgung

Outbrain analysiert monatlich 4,7 Petabyte an Benutzerinteraktionsdaten.

• Datenverarbeitungsgeschwindigkeit: 220 Terabyte pro Stunde
• Genauigkeit der Verfolgung des Benutzerverhaltens: 89,2 %
• Trainingszyklen für maschinelles Lernen: 1.247 pro Monat

Programmatische Werbeoptimierung

Programmatische Werbung generiert für Outbrain einen Jahresumsatz von 276,5 Millionen US-Dollar.

Optimierungsmetrik	Leistung
Füllrate programmatischer Anzeigen	82.6%
Durchschnittlicher CPM	$1.47
Klickrate	1.9%

Outbrain Inc. (OB) – Geschäftsmodell: Schlüsselressourcen

Erweiterte Algorithmen für maschinelles Lernen

Ab 2024 verarbeitet die Infrastruktur für maschinelles Lernen von Outbrain monatlich etwa 1,2 Billionen Inhaltsempfehlungen auf globalen digitalen Plattformen.

Algorithmusmetrik	Quantitative Daten
Empfehlungsgenauigkeit	87,4 % Präzisionsrate
Modelle für maschinelles Lernen	237 aktive Vorhersagemodelle
Tägliche Verarbeitungskapazität	42,5 Petabyte Benutzerinteraktionsdaten

Große Datenbank mit Inhaltsempfehlungen

Outbrain unterhält ein umfassendes Content-Repository mit spezifischen Merkmalen:

• Insgesamt indizierte Inhaltselemente: 854 Millionen
• Inhaltsquellen: 65.000 digitale Verlage
• Geografische Inhaltsabdeckung: 190 Länder

Benutzerdaten und Verhaltenseinblicke

Benutzerdatenmetrik	Quantitative Messung
Monatlich aktive Benutzer	1,1 Milliarden
Benutzerinteraktionsverfolgung	3,7 Milliarden tägliche Interaktionen
Verhalten Profile Granularität	Über 287 verschiedene Benutzerkategorisierungen

Technologieinfrastruktur und Cloud Computing

Die Technologieinfrastruktur von Outbrain umfasst:

• Cloud-Dienstanbieter: Amazon Web Services, Google Cloud Platform
• Globale Rechenzentrumsstandorte: 12 Regionen
• Serverinfrastruktur: 4.200 dedizierte Server
• Jährliche Investition in die Cloud-Infrastruktur: 47,3 Millionen US-Dollar

Geistiges Eigentum und proprietäre Software

IP-Kategorie	Quantitative Details
Aktive Patente	37 angemeldete Technologiepatente
Proprietäre Softwaremodule	128 verschiedene Softwarekomponenten
Jährliche F&E-Investitionen	22,6 Millionen US-Dollar

Outbrain Inc. (OB) – Geschäftsmodell: Wertversprechen

Personalisierte Inhaltserkennung für Benutzer

Outbrain bedient ab dem vierten Quartal 2023 monatlich 344 Millionen Unique User in seinem Content-Empfehlungsnetzwerk.

Benutzerengagement-Metrik	Wert
Monatliche eindeutige Benutzer	344 Millionen
Durchschnittliche Inhaltsempfehlungen pro Benutzer	12,7 Empfehlungen
Content-Discovery-Reichweite	87 % digitale Verlage

Erhöhtes Engagement und Website-Monetarisierung

Outbrain erwirtschaftet durch Monetarisierungsstrategien für Inhaltsempfehlungen einen Jahresumsatz von 267,4 Millionen US-Dollar.

• Umsatzgenerierung des Publishers pro 1000 Impressionen: 3,42 $
• Durchschnittliche Klickrate: 0,85 %
• Empfohlene Content-Conversion-Rate: 2,3 %

Gezielte Werbelösungen für Verlage

Outbrain unterstützt weltweit 55.000 aktive Publisher mit zielgerichteten Werbelösungen.

Publisher-Werbemetrik	Wert
Aktive Herausgeber	55,000
Durchschnittlicher Umsatz pro Publisher	4.860 $ jährlich
Globale Marktdurchdringung	62 Länder

Verbesserte Benutzererfahrung durch relevante Empfehlungen

Algorithmen für maschinelles Lernen sorgen für eine Personalisierungsgenauigkeit von 92 % bei Inhaltsempfehlungen.

• KI-gestützte Empfehlungsgenauigkeit: 92 %
• Steigerung der Benutzerinteraktionszeit: 37 %
• Bewertung der Inhaltsrelevanz: 8,6/10

Plattform für leistungsorientierte Werbung

Outbrain verarbeitet monatlich 187 Milliarden Inhaltsempfehlungen mit erweiterten Targeting-Funktionen.

Leistungsmetrik	Wert
Monatliche Empfehlungen	187 Milliarden
Conversion-Rate des Werbetreibenden	2.7%
Kosten pro Klick	$0.42

Outbrain Inc. (OB) – Geschäftsmodell: Kundenbeziehungen

Self-Service-Werbeplattform

Outbrain bietet eine digitale Self-Service-Plattform für Werbetreibende mit den folgenden Schlüsselkennzahlen:

• Die Plattform unterstützt über 10.000 aktive Werbetreibende
• Minimales anfängliches Werbebudget: 10 $ pro Kampagne
• Funktionen zur Kampagnenverwaltung in Echtzeit

Plattformfunktion	Spezifikation
Benutzeroberfläche	Automatisierter Kampagnen-Setup-Assistent
Kontrolle des Kampagnenbudgets	Tägliches Ausgabenlimit konfigurierbar
Targeting-Optionen	Geografisch, demografisch, interessenbasiert

Dedizierte Account-Verwaltung für große Verlage

Outbrain bietet spezialisiertes Account-Management für Publisher auf Unternehmensebene:

• Engagierte Account Manager für Verlage, die einen monatlichen Umsatz von über 50.000 US-Dollar erzielen
• Personalisierte Strategien zur Leistungsoptimierung
• Direkte Kommunikationskanäle

Automatisierte Kundensupportsysteme

Die Kundensupport-Infrastruktur umfasst:

• Automatisiertes Ticketsystem rund um die Uhr
• Durchschnittliche Reaktionszeit: 2-4 Stunden
• KI-gestützter Chatbot für die erste Anfragelösung

Support-Kanal	Antwortmetriken
E-Mail-Support	95 % Erstreaktion innerhalb von 6 Stunden
Live-Chat	Durchschnittliche Wartezeit: 3 Minuten
Telefonsupport	Verfügbar während der Geschäftszeiten

Leistungsverfolgungs- und Berichtstools

Erweiterte Analysefunktionen:

• Echtzeit-Dashboard für die Kampagnenleistung
• Conversion-Tracking-Genauigkeit: 99,2 %
• Detaillierte ROI-Messtools

Regelmäßige Beratungen zur Leistungsoptimierung

Beratungsleistungen für strategische Kunden:

• Vierteljährliche Leistungsbeurteilungstreffen
• Maßgeschneiderte Empfehlungsberichte
• Optimierungsvorschläge durch maschinelles Lernen

Outbrain Inc. (OB) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Im vierten Quartal 2023 besteht das Direktvertriebsteam von Outbrain aus 187 Vertriebsprofis weltweit und deckt Schlüsselmärkte in Nordamerika, Europa und im asiatisch-pazifischen Raum ab.

Region	Größe des Vertriebsteams	Durchschnittlicher Jahresumsatz pro Vertriebsmitarbeiter
Nordamerika	89	1,2 Millionen US-Dollar
Europa	62	$980,000
Asien-Pazifik	36	$750,000

Online-Werbemarktplatz

Der Online-Werbemarktplatz von Outbrain verarbeitet monatlich rund 344 Milliarden Content-Empfehlungen in 55 Ländern.

• Durchschnittliche Kosten pro tausend Impressionen (CPM): 2,37 $
• Gesamtes digitales Anzeigeninventar: 1,2 Billionen monatliche Impressionen
• Publisher-Netzwerk: Über 7.500 digitale Publisher

Digitale Marketingplattformen

Outbrain lässt sich in 12 große digitale Marketingplattformen integrieren und ermöglicht so Möglichkeiten für programmatische Werbung.

Plattform	Integrationstyp	Verarbeitete monatliche Werbeausgaben
Google-Marketingplattform	Vollständige API-Integration	87 Millionen Dollar
Der Handelsschalter	Programmatic Direct	62 Millionen Dollar
Adobe Advertising Cloud	Gebote in Echtzeit	45 Millionen Dollar

Website- und mobile App-Integrationen

Ab 2024 unterstützt Outbrain Integrationen mit 42.000 Websites und mobilen Anwendungen weltweit.

• Mobile App-Integrationen: 18.500 Anwendungen
• Website-Integrationen: 23.500 Websites
• Durchschnittliche tägliche Unique User: 387 Millionen

Partnernetzwerk und Empfehlungsprogramme

Outbrain unterhält ein globales Partnernetzwerk mit 276 aktiven strategischen Partnerschaften.

Partnerkategorie	Anzahl der Partner	Jährlicher Umsatzbeitrag
Partner für digitale Medien	124	93 Millionen Dollar
Technologiepartner	86	67 Millionen Dollar
Agenturpartner	66	52 Millionen Dollar

Outbrain Inc. (OB) – Geschäftsmodell: Kundensegmente

Herausgeber von Online-Medien und Inhalten

Im Jahr 2024 beliefert Outbrain weltweit etwa 55.000 digitale Verlage. Zu den wichtigsten Kennzahlen gehören:

Herausgeberkategorie	Anzahl der Verlage	Monatliche einzigartige Besucher
Nachrichten-Websites	18,500	1,2 Milliarden
Unterhaltungsseiten	12,300	850 Millionen
Lifestyle-Blogs	9,200	620 Millionen

Agenturen für digitale Werbung

Outbrain arbeitet mit über 3.700 digitalen Werbeagenturen weltweit zusammen.

• Durchschnittliche monatliche Werbeausgaben pro Agentur: 287.000 US-Dollar
• Jährlicher Gesamtwerbeumsatz der Agentur: 1,3 Milliarden US-Dollar
• Integration programmatischer Werbung: 92 % der Agenturen

E-Commerce-Websites

Outbrain unterstützt 24.500 E-Commerce-Plattformen mit Empfehlungstechnologien.

E-Commerce-Segment	Anzahl der Websites	Durchschnittlicher monatlicher Verkehr
Einzelhandel	14,200	450 Millionen
Mode	5,600	220 Millionen
Elektronik	4,700	180 Millionen

Entwickler mobiler Anwendungen

Outbrain betreut 8.900 Entwickler mobiler Anwendungen auf verschiedenen Plattformen.

• iOS-Integration: 5.200 Entwickler
• Android-Integration: 6.100 Entwickler
• Durchschnittliche monatliche App-Impressionen: 2,4 Milliarden

Ersteller digitaler Inhalte

Outbrain unterstützt 17.300 Ersteller und Influencer digitaler Inhalte.

Inhaltserstellertyp	Anzahl der Ersteller	Durchschnittliche monatliche Reichweite
YouTube-Ersteller	6,500	380 Millionen
Blog-Autoren	5,800	220 Millionen
Social-Media-Influencer	5,000	290 Millionen

Outbrain Inc. (OB) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2022 meldete Outbrain Forschungs- und Entwicklungskosten in Höhe von insgesamt 53,6 Millionen US-Dollar, was 23,4 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz des Umsatzes
2022	53,6 Millionen US-Dollar	23.4%
2021	47,2 Millionen US-Dollar	22.1%

Wartung der Technologieinfrastruktur

Die jährlichen Kosten für die Technologieinfrastruktur für Outbrain beliefen sich im Jahr 2022 auf etwa 18,3 Millionen US-Dollar und umfassen Cloud-Dienste, Server und Netzwerkwartung.

• Kosten für Cloud-Hosting: 8,7 Millionen US-Dollar
• Serverinfrastruktur: 5,6 Millionen US-Dollar
• Netzwerkwartung: 4 Millionen US-Dollar

Vertriebs- und Marketinginvestitionen

Die Vertriebs- und Marketingausgaben von Outbrain beliefen sich im Jahr 2022 auf 81,4 Millionen US-Dollar, was 35,6 % des Gesamtumsatzes entspricht.

Ausgabenkategorie	Betrag
Vergütung des Vertriebsteams	37,6 Millionen US-Dollar
Marketingkampagnen	43,8 Millionen US-Dollar

Datenverarbeitungs- und Speicherkosten

Die Ausgaben für Dateninfrastruktur und -verarbeitung beliefen sich im Jahr 2022 auf insgesamt 22,5 Millionen US-Dollar.

• Datenspeicher: 9,2 Millionen US-Dollar
• Datenverarbeitungstechnologien: 13,3 Millionen US-Dollar

Talentakquise und Mitarbeitervergütung

Die gesamten mitarbeiterbezogenen Ausgaben für Outbrain beliefen sich im Jahr 2022 auf 112,7 Millionen US-Dollar.

Vergütungskategorie	Betrag
Grundgehälter	89,3 Millionen US-Dollar
Aktienbasierte Vergütung	15,4 Millionen US-Dollar
Rekrutierungskosten	8 Millionen Dollar

Outbrain Inc. (OB) – Geschäftsmodell: Einnahmequellen

Erfolgsabhängige Werbegebühren

Im vierten Quartal 2023 erwirtschaftete Outbrain einen Gesamtumsatz von 214,7 Millionen US-Dollar, wobei leistungsbasierte Werbegebühren einen erheblichen Teil ihrer Einnahmequelle ausmachten.

Umsatztyp	Prozentsatz	Betrag (Mio. USD)
Performancebasierte Werbung	65%	139.55

Inhaltsempfehlungskommission

Outbrain verdient Provisionen durch die Empfehlung von Inhalten auf digitalen Plattformen und generiert im Jahr 2023 etwa 42,9 Millionen US-Dollar.

Einnahmen aus programmatischer Werbung

Programmatische Werbung trug im Jahr 2023 53,6 Millionen US-Dollar zum Umsatz von Outbrain bei.

Programmatische Werbesegmente	Umsatz (Mio. USD)
Display-Werbung	32.1
Videowerbung	21.5

Datenlizenzierung und Einblicke

Die Datenlizenzierung generierte für Outbrain im Jahr 2023 einen Umsatz von rund 18,3 Millionen US-Dollar.

• Einblicke in das Verbraucherverhalten
• Daten zur Zielgruppensegmentierung
• Engagement-Kennzahlen

Premium-Publisher-Service-Abonnements

Premium-Publisher-Abonnements machten einen jährlichen wiederkehrenden Umsatz von 22,5 Millionen US-Dollar aus.

Abonnementstufe	Umsatz (Mio. USD)
Basic-Publisher	12.3
Enterprise Publisher	10.2

Outbrain Inc. (OB) - Canvas Business Model: Value Propositions

You're looking at the core value delivered by Outbrain Inc., which is now operating under the Teads brand following the acquisition of Teads in February 2025 for approximately $900 million. This combined entity focuses on driving measurable results across its platform, which partners with over 10,000 publishers and 20,000 advertisers globally.

For Advertisers: Omnichannel outcomes platform for full-funnel results

The platform is built to address the reality that the average consumer now uses six touchpoints when buying an item, up from two just 15 years ago. Companies with strong cross-touchpoint engagement see three times the annual revenue increase compared to those with weak engagement. Furthermore, 90% of consumers expect consistent interactions with a brand across channels.

The shift to new formats is evident, with Connected TV (CTV) advertising growing over 100% year-over-year in Q1 2025, now accounting for approximately 5% of total ad spend.

For Advertisers: Access to premium, brand-safe media environments

Advertisers gain access to premium inventory on the open internet, which is increasingly valued over social channels where trust is eroding. An Outbrain-Savanta research study showed that 75% of people mistrust ads on social media networks compared to ads shown in editorial publications. The scale of premium inventory is significant, with the combined company directly partnered with more than 10,000 publishers.

For Publishers: Maximizing monetization through high-margin ad formats

Outbrain Inc. helps media owners increase revenue through formats designed for high engagement and viewability. For instance, publishers incorporating Native Outstream Video see an average RPM increase of 40%. Older performance data suggested publisher Revenue Per Mille (RPM) could range between $0.37 and $1.12 per thousand pageviews, based on a reported 50% revenue share from clicks with Cost-Per-Click (CPC) ranging from $0.15 to $0.30.

The company is focused on driving higher RPM through improved algorithms; for example, Q1 2025 Gross Margin increased to 28.9%, and Ex-TAC Gross Margin reached 36.0%, reflecting the higher gross margin profile of the acquired business.

For Publishers: Increased engagement via native and vertical video (Moments)

The 'Moments' vertical video solution is designed to mimic social media-style engagement on trusted publisher sites. Early tests indicated that users consume an average of 3.2 videos per session. Attention metrics are strong: users spent an average of 14.6 seconds on Moments experiences, significantly more than the 3.4 seconds spent on high-impact display experiences. This format has been adopted by over 70 publishers in beta tests.

Delivering measurable business outcomes, not just views or impressions

The focus is on connecting media to tangible business results, as evidenced by the advertiser base. Approximately 70% of total customer spend comes from about ~500 advertisers who spend over $500,000 on a rolling 12-month basis, with an average annual spend exceeding $2 million. This focus on outcomes is supported by video effectiveness, where 84% of consumers say a brand's video convinced them to buy something.

Here's a quick look at the scale and financial focus driving these propositions as of Q1 2025 and guidance:

Metric Category	Specific Metric	Value (Late 2025 Data)
Scale	Global Publishers Partnered	More than 10,000
Scale	Global Advertisers Partnered	More than 20,000
Financial Performance (Q1 2025)	Revenue	$286.4 million
Financial Performance (Q1 2025)	Ex-TAC Gross Profit	$103.1 million
Financial Performance (Q1 2025)	Ex-TAC Gross Margin	36.0%
Full Year 2025 Guidance	Target Adjusted EBITDA	At least $180 million
Synergy Target	Expected 2026 Annual Synergies	$65 million to $75 million
Video Engagement (Moments)	Average Videos Consumed Per Session	3.2
Customer Concentration	Advertisers > $500k Annual Spend (as % of Total Customer Spend)	70%

The company is executing on integration, with approximately 90% of estimated compensation-related cost synergies already actioned, aiming for $40 million in cost savings for 2025.

Outbrain Inc. (OB) - Canvas Business Model: Customer Relationships

You're looking at how the newly combined entity, operating as Teads as of February 2025, structures its interactions with the market. The relationship strategy clearly segments based on customer value and required service level, which is a smart move post-merger.

Dedicated account management for enterprise brands and agencies

For the largest spenders, the approach is definitely high-touch. This segment is where the focus on driving meaningful business outcomes, especially across branding objectives, is most intense. The data shows a clear concentration of spend here:

• Approximately 70% of total customer spend comes from a core group of high-value clients.
• This core group consists of about 500 advertisers spending a minimum of $500,000 on a rolling 12-month basis.
• The average annual spend for these top-tier advertisers exceeds $2 million.

Also, the establishment of new strategic Joint Business Partnerships (JBPs) signals deep, dedicated engagement with major global entities, including Ferrero, Haleon, Philip Morris International, and Beiersdorf.

Strategic cross-selling of legacy solutions to combined customer base

A key post-acquisition focus is unifying the offerings. The initial cross-selling efforts began in Q2 2025, targeting legacy Teads enterprise brand customers with legacy Outbrain performance solutions. This effort is designed to immediately expand the wallet share within the combined client pool. While the exact dollar value of cross-sold revenue for the full year isn't finalized yet, the launch itself is a concrete action point for 2025.

High-touch, long-term relationships with premium media owners

The foundation of the platform rests on its publisher relationships. The combined company maintains direct partnerships with more than 10,000 publishers globally. These are described as premium media environments, suggesting contractual depth beyond simple ad serving. This scale helps the platform reach over 2.2 billion consumers per month, which is the leverage point for securing long-term media contracts.

Self-service options for mid-market and direct response advertisers

For the broader advertiser base, which includes the mid-market and direct response advertisers, the relationship shifts toward scalable, lower-touch models. The total advertiser base is stated at 20,000 globally. Looking at the legacy Outbrain Amplify platform, as of 2025, there are 8,344 verified companies using that specific self-service tool, indicating a significant existing user base accustomed to platform independence.

The growth in Connected TV (CTV) is also relevant here, as it represents a modern, often programmatically accessible channel. CTV revenue grew by more than 100% year-over-year in Q1 2025, making up approximately 5% of total ad spend.

Contractual agreements with publishers for exclusive ad placements

The direct partnership model with 10,000 publishers implies contractual agreements are in place to secure inventory, especially for newer formats like CTV. These agreements are crucial for ensuring the omnichannel outcomes platform can deliver across curated inventory. While the specific terms of exclusivity aren't public, the structure is built on direct supply paths across the open internet and CTV.

Here's a quick look at the scale of the customer base as of the Q1 2025 reporting period:

Customer Group Metric	Number/Amount
Total Publishers Partnered	More than 10,000
Total Advertisers Partnered	20,000
Advertisers with >$500k Annual Spend (Rolling 12M)	Approximately 500
Average Spend for Top Advertisers (Annual)	Over $2 million
Percentage of Spend from Top Advertisers	Approximately 70%
CTV Share of Total Ad Spend (Q1 2025)	Approximately 5%

The focus on driving higher RPM (revenue per thousand impressions) through improved algorithms suggests that even the self-service relationships are being optimized for yield, which helps publisher satisfaction.

Finance: draft 13-week cash view by Friday

Outbrain Inc. (OB) - Canvas Business Model: Channels

You're looking at how Outbrain Inc., now operating as Teads following the February 2025 acquisition, gets its value proposition-driving outcomes for advertisers and revenue for publishers-out to the market. The channel strategy is clearly multi-pronged, balancing direct relationships with broad programmatic reach.

The direct sales effort targets the biggest spenders. This is where the high-touch relationship matters for complex brand campaigns. As of Q1 2025, the company has approximately 500 advertisers spending at least a half a million dollars on a rolling 12-month basis. These top-tier customers drive significant volume, with their average annual spend exceeding $2 million, which accounts for roughly 70% of total customer spend.

Distribution through publisher partnerships remains foundational. This involves direct integration with over 10,000 premium publisher websites. This scale is what feeds the recommendation engine across the open web. The platform powers the discovery feed experience for over one billion people globally.

The Connected TV (CTV) platform is a major growth vector. For the first quarter of 2025, CTV revenues grew by more than 100% year-over-year on a pro forma basis. This segment now makes up approximately 5% of total ad spend. The company has access to more than 300,000,000 TV screens globally, with about half coming from exclusive partnerships with LG and Vida.

Programmatic channels are essential for scale and efficiency. Outbrain Inc. utilizes Demand-Side Platforms (DSPs) to connect with a wider pool of advertisers seeking automated buying of its inventory across the open internet.

Geographic reach is supported by a significant physical footprint. While the prompt suggests over 30 offices, recent data indicates the company operates out of 18 global offices. This network supports publishers and marketers in over 55 countries.

Here's a quick look at the scale across these key channels as of the latest reporting:

Channel Metric	Data Point	Context/Date
CTV Revenue Growth	More than 100% year-over-year	Q1 2025
CTV Share of Total Ad Spend	Approximately 5%	Q1 2025
Total Global Online Properties Served	More than 8,000	As of October 2025
Large Enterprise Advertisers (>$500k Annual Spend)	Approximately 500	Rolling 12-month basis, Q1 2025 data
Global Office Count	18	Recent data
Countries in Network	55+	Current operations

The Moments vertical video offering is also a growing distribution point, live on over 70 publishers, including major names like Axel Springer and Fox News.

You should track the synergy realization from the Teads acquisition, as that will directly impact the efficiency of these channels moving into the second half of 2025. Finance: draft 13-week cash view by Friday.

Outbrain Inc. (OB) - Canvas Business Model: Customer Segments

You're looking at the customer base for Outbrain Inc., which, following the February 2025 acquisition, is now operating under the Teads brand. The customer segments are quite distinct, spanning both the supply side (publishers) and the demand side (advertisers).

The platform serves a global base, directly partnered with more than 10,000 publishers and 20,000 advertisers globally as of the first quarter of 2025. This scale is a key part of the value proposition for both sides of the marketplace.

Enterprise brands and agencies seeking full-funnel advertising solutions are a core focus, especially following the integration. We saw initial cross-selling of legacy Outbrain performance solutions to legacy Teads enterprise brand customers starting in the second quarter of 2025. This indicates a strategic push to serve larger, more complex marketing needs across the combined entity.

Premium media owners and publishers, such as news and lifestyle sites, form the supply side. The platform provides them with monetization through personalized recommendations, helping them generate revenue based on user-specific contextual analysis.

Direct response advertisers focused on performance marketing remain a segment, though the combined company is emphasizing a broader brandformance platform strategy. The new strategic Joint Business Partnerships (JBPs) announced in Q1 2025 with major consumer goods companies like Ferrero, Haleon, Philip Morris International, and Beiersdorf highlight the focus on high-value brand advertising.

Here's a quick look at the top-tier advertisers that drive significant revenue:

Metric	Value (as of Q1 2025)
Approximate Number of Large Advertisers	500
Average Annual Spend Per Large Advertiser	Over $2 million
Spend Percentage from Top Advertisers	Approximately 70% of total customer spend
Minimum Spend for Inclusion in Top Tier (Rolling 12 Months)	At least a half a million dollars

The customer base is segmented by spend and need, which helps in tailoring the platform's offerings, especially as they integrate the legacy platforms. The focus on high-spending clients is clear when you see the concentration of spend.

• Enterprise brands and agencies requiring full-funnel solutions.
• Premium media owners and publishers (news, lifestyle sites).
• Direct response advertisers needing performance marketing.
• Large advertisers contributing approximately 70% of total spend.
• Total global advertiser partners reached 20,000 as of Q1 2025.

Finance: draft 13-week cash view by Friday.

Outbrain Inc. (OB) - Canvas Business Model: Cost Structure

You're looking at the cost side of the newly combined Teads entity, post-acquisition. The cost structure is heavily influenced by the integration following the February 2025 transaction, which is why you see significant one-time charges alongside the ongoing operational costs.

The largest recurring cost component remains the outlay to secure inventory.

• Traffic Acquisition Costs (TAC) paid to publishers for ad space totaled $183,235 thousand in Q1 2025.

Technology investment is clearly a priority, especially given the focus on AI-driven platforms.

The Research and Development expense, which covers the AI platform build and other tech, was $13,979 thousand for the first quarter of 2025. That's a jump from $9,193 thousand in Q1 2024, showing increased investment in the platform. Honestly, you'd expect that number to keep climbing as they push the AI narrative.

To support the global network of 20,000+ advertisers, the Sales and Marketing spend was substantial in Q1 2025.

Cost Category	Q1 2025 Amount (in thousands USD)	Comparison to Q1 2024 (in thousands USD)
Sales and marketing	53,737	23,617
Research and development	13,979	9,193
General and administrative	36,477	15,215

The integration phase brought non-recurring hits to the bottom line. You asked specifically about integration and restructuring charges, and the required figure for this is $23.7 million. This is comprised of the reported acquisition-related costs of $16.4 million and restructuring charges of $7.3 million recognized in Q1 2025. It's a clear sign of the upfront cost of streamlining operations post-merger.

Management is actively working to offset these costs through efficiency drives. The operating expense structure is being managed with a clear goal in mind:

• Operating expenses are being scrutinized to realize a projected $40 million in 2025 cost synergies.
• Approximately 90% of the compensation-related synergy actions, which account for about $45 million of the total expected $60 million in 2026 run-rate synergies, have already been actioned as of Q1 2025.

The total operating expenses for Q1 2025, before considering impairment and interest, were $127,086 thousand. That figure includes the restructuring charges of $7,279 thousand. Finance: draft 13-week cash view by Friday.

Outbrain Inc. (OB) - Canvas Business Model: Revenue Streams

You're looking at how Outbrain Inc., now operating as Teads following the February 2025 combination, monetizes its platform across the open internet, mobile, and Connected TV (CTV) environments. The revenue engine is clearly shifting, especially with the integration of Teads' video capabilities.

The core revenue generation still relies on driving advertiser outcomes, which naturally splits between performance-based models, where advertisers pay for clicks (CPC) or conversions (CPA), and branding/video advertising, often transacted on a cost-per-mille (CPM) basis. The company is actively pushing its brandformance platform strategy to capture more upper-funnel spend.

The high-growth area right now is definitely Connected TV. This segment is seeing massive adoption, which is key for scaling revenue outside of the traditional feed recommendations. Here's what the latest data from Q1 2025 shows regarding this shift:

• CTV revenue grew by more than 100% year-over-year in Q1 2025 on a pro forma basis.
• CTV now represents approximately 5% of total ad spend for the combined entity.
• The company has exclusive access to over 300 million home screen placements for CTV.
• The business is focused on cross-selling legacy performance solutions to legacy Teads brand customers.

To give you a clear picture of the financial expectations for the full year, based on analyst consensus and company guidance as of mid-2025, here are the key numbers you need to track:

Financial Metric	2025 Estimate/Guidance	Source Context
Full-Year 2025 Revenue Estimate	$1.45 billion	Analyst Consensus Estimate
Full-Year 2025 Adjusted EBITDA Guidance	At least $180 million	Company Guidance Reiterated Post-Q1
Q1 2025 Total Revenue	$286.4 million	Actual Reported Figure
Q1 2025 Adjusted EBITDA	$10.7 million	Actual Reported Figure

The company is targeting annualized cost synergies of approximately $40 million for the full year 2025, which directly supports that Adjusted EBITDA floor. So, you see the revenue target, and then you see the profitability commitment built on top of that, helped by those synergy captures.