Outbrain Inc. (OB): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la publicidad digital y la recomendación de contenido, Outbrain Inc. (OB) se ha convertido en una plataforma transformadora que conecta a la perfección editores, anunciantes y usuarios a través de tecnología algorítmica inteligente. Al aprovechar los sistemas avanzados de aprendizaje automático y recomendaciones personalizadas, Outbrain ha revolucionado cómo se descubre, monetiza y consume el contenido en línea en los ecosistemas digitales globales. Esta exploración completa del lienzo de modelo de negocio de Outbrain revela las intrincadas estrategias y los enfoques innovadores que han posicionado a la compañía como un jugador fundamental en el panorama ADTech en rápido evolución.

Outbrain Inc. (OB) - Modelo de negocio: asociaciones clave

Editores de contenido y sitios web de medios

A partir de 2024, Outbrain se asocia con más de 7.500 editores digitales a nivel mundial, incluyendo:

Categoría de editor	Número de socios
Sitios web de noticias	2,300
Sitios de entretenimiento	1,500
Blogs de estilo de vida	1,200
Plataformas tecnológicas	850

Plataformas de publicidad digital

Outbrain se integra con plataformas de publicidad digital clave:

• Administrador de anuncios de Google
• Plataforma de publicidad de Amazon
• La mesa de comercio
• Mediamath

Proveedores de tecnología de publicidad programática

Las asociaciones estratégicas incluyen:

Proveedor	Nivel de integración
Abrex	Integración completa de SSP
AppNexus	Licitación en tiempo real
Proyecto Rubicon	Header Ofertas

Análisis de datos y recomendaciones de compañías de software

Outbrain colabora con empresas de análisis de datos:

• Comscor
• Nielsen digital
• Análisis de foso

Tecnología de marketing y nuevas empresas ADTech

Asociaciones activas con empresas de tecnología emergente:

Puesta en marcha	Enfoque tecnológico
Persado	Generación de contenido de IA
Albert.ai	Marketing autónomo
Frase	Optimización de correo electrónico

Outbrain Inc. (OB) - Modelo de negocio: actividades clave

Desarrollo de algoritmo de recomendación de contenido

Outbrain invirtió $ 23.4 millones en I + D para tecnología de recomendación de contenido en 2023. La compañía mantiene 127 algoritmos activos de aprendizaje automático para la personalización de contenido.

Tipo de algoritmo	Costo de desarrollo	Métrico de rendimiento
Coincidencia de contenido	$ 8.7 millones	87.3% de precisión
Predicción de preferencias de usuario	$ 6.2 millones	82.5% de precisión

Coincidencia de publicidad personalizada

Outbrain procesa 2,3 mil millones de recomendaciones de contenido diariamente en 55 países.

• Tasa promedio de coincidencia de anuncios: 64.7%
• Volumen de licitación en tiempo real: 1.9 millones de solicitudes por segundo
• Precisión de personalización: 76.4%

Gestión de la plataforma de publicidad digital

La infraestructura de la plataforma admite 340,000 editores digitales y 70,000 anunciantes a nivel mundial.

Métrica de plataforma	2023 datos
Editores activos mensuales	340,000
Anunciantes activos mensuales	70,000
Costo de infraestructura de plataforma	$ 41.6 millones

Análisis de datos y seguimiento de comportamiento del usuario

Outbrain analiza 4.7 petabytes de datos de interacción del usuario mensualmente.

• Velocidad de procesamiento de datos: 220 terabytes por hora
• Precisión de seguimiento del comportamiento del usuario: 89.2%
• Ciclos de entrenamiento del modelo de aprendizaje automático: 1,247 por mes

Optimización de publicidad programática

La publicidad programática genera $ 276.5 millones en ingresos anuales para Outbrain.

Métrica de optimización	Actuación
Tasa de llenado de anuncios programáticos	82.6%
CPM promedio	$1.47
Tasa de clics	1.9%

Outbrain Inc. (OB) - Modelo de negocio: recursos clave

Algoritmos avanzados de aprendizaje automático

A partir de 2024, la infraestructura de aprendizaje automático de Outbrain procesa aproximadamente 1.2 billones de recomendaciones de contenido mensualmente en plataformas digitales globales.

Métrico de algoritmo	Datos cuantitativos
Precisión de recomendación	Tasa de precisión del 87.4%
Modelos de aprendizaje automático	237 modelos predictivos activos
Capacidad de procesamiento diario	42.5 petabytes de datos de interacción de usuario

Base de datos de recomendación de contenido grande

Outbrain mantiene un repositorio de contenido integral con características específicas:

• Elementos de contenido total indexados: 854 millones
• Fuentes de contenido: 65,000 editores digitales
• Cobertura de contenido geográfico: 190 países

Datos de usuario e ideas de comportamiento

Métrica de datos de usuario	Medición cuantitativa
Usuarios activos mensuales	1.100 millones
Seguimiento de interacción de usuario	3.700 millones de interacciones diarias
De comportamiento Profile Granularidad	Más de 287 categorizaciones de usuario distintas

Infraestructura tecnológica y computación en la nube

La infraestructura tecnológica de Outbrain incluye:

• Proveedores de servicios en la nube: Amazon Web Services, Google Cloud Platform
• Ubicaciones globales de centros de datos: 12 regiones
• Infraestructura del servidor: 4.200 servidores dedicados
• Inversión anual de infraestructura en la nube: $ 47.3 millones

Propiedad intelectual y software patentado

Categoría de IP	Detalles cuantitativos
Patentes activas	37 patentes de tecnología registradas
Módulos de software patentados	128 componentes de software distintos
Inversión anual de I + D	$ 22.6 millones

Outbrain Inc. (OB) - Modelo de negocio: propuestas de valor

Descubrimiento de contenido personalizado para usuarios

Outbrain atiende a 344 millones de usuarios únicos mensualmente en su red de recomendaciones de contenido a partir del cuarto trimestre de 2023.

Métrica de participación del usuario	Valor
Usuarios únicos mensuales	344 millones
Recomendaciones de contenido promedio por usuario	12.7 Recomendaciones
Alcance de descubrimiento de contenido	87% de editores digitales

Mayor compromiso y monetización del sitio web

Outbrain genera $ 267.4 millones en ingresos anuales a través de estrategias de monetización de recomendación de contenido.

• Generación de ingresos del editor por 1000 Impresiones: $ 3.42
• Tasa promedio de clics: 0.85%
• Tasa de conversión de contenido recomendado: 2.3%

Soluciones publicitarias específicas para editores

Outbrain admite 55,000 editores activos a nivel mundial con soluciones publicitarias específicas.

Métrica de publicidad de editorial	Valor
Editores activos	55,000
Ingresos promedio por editor	$ 4,860 anualmente
Penetración del mercado global	62 países

Experiencia de usuario mejorada a través de recomendaciones relevantes

Los algoritmos de aprendizaje automático impulsan el 92% de precisión de personalización para recomendaciones de contenido.

• Precisión de recomendación con IA: 92%
• Aumento del tiempo de participación del usuario: 37%
• Puntuación de relevancia de contenido: 8.6/10

Plataforma de publicidad basada en el rendimiento

Outbrain procesa 187 mil millones de recomendaciones de contenido mensualmente con capacidades de orientación avanzada.

Métrico de rendimiento	Valor
Recomendaciones mensuales	187 mil millones
Tasa de conversión del anunciante	2.7%
Costo por clic	$0.42

Outbrain Inc. (OB) - Modelo de negocios: relaciones con los clientes

Plataforma de publicidad de autoservicio

Outbrain proporciona un plataforma de autoservicio digital Para anunciantes con las siguientes métricas clave:

• La plataforma admite más de 10,000 anunciantes activos
• Presupuesto mínimo de publicidad inicial: $ 10 por campaña
• Capacidades de gestión de campaña en tiempo real

Característica de la plataforma	Especificación
Interfaz de usuario	Asistente de configuración de campaña automatizada
Control presupuestario de campaña	Límite de gasto diario configurable
Opciones de orientación	Geográfico, demográfico, basado en intereses

Gestión de cuentas dedicada para grandes editores

Outbrain ofrece gestión de cuentas especializada para editores de nivel empresarial:

• Gerentes de cuentas dedicados para editores que generan más de $ 50,000 ingresos mensuales
• Estrategias de optimización de rendimiento personalizadas
• Canales de comunicación directa

Sistemas automatizados de atención al cliente

La infraestructura de atención al cliente incluye:

• Sistema de boletos automatizado 24/7
• Tiempo de respuesta promedio: 2-4 horas
• Chatbot con alimentación de IA para la resolución de consultas iniciales

Canal de soporte	Métricas de respuesta
Soporte por correo electrónico	95% de primera respuesta dentro de las 6 horas
Chat en vivo	Tiempo de espera promedio: 3 minutos
Soporte telefónico	Disponible durante el horario comercial

Herramientas de seguimiento e informes de rendimiento

Capacidades de análisis avanzado:

• Panel de rendimiento de campaña en tiempo real
• Precisión de seguimiento de conversión: 99.2%
• Herramientas detalladas de medición de ROI

Consultas de optimización de rendimiento regular

Servicios de consulta para clientes estratégicos:

• Reuniones trimestrales de revisión de rendimiento
• Informes de recomendación personalizados
• Sugerencias de optimización impulsadas por el aprendizaje automático

Outbrain Inc. (OB) - Modelo de negocio: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, el equipo de ventas directas de Outbrain consta de 187 profesionales de ventas a nivel mundial, cubriendo mercados clave en América del Norte, Europa y Asia-Pacífico.

Región	Tamaño del equipo de ventas	Ingresos anuales promedio por representante de ventas
América del norte	89	$ 1.2 millones
Europa	62	$980,000
Asia-Pacífico	36	$750,000

Mercado de publicidad en línea

El mercado de publicidad en línea de Outbrain procesa aproximadamente 344 mil millones de recomendaciones de contenido mensualmente en 55 países.

• Costo promedio por mil impresiones (CPM): $ 2.37
• Inventario de anuncios digitales totales: 1.2 billones de impresiones mensuales
• Red de editores: más de 7,500 editores digitales

Plataformas de marketing digital

Outbrain se integra con 12 plataformas de marketing digital principales, lo que permite capacidades de publicidad programática.

Plataforma	Tipo de integración	Gasto publicitario mensual procesado
Plataforma de marketing de Google	Integración completa de API	$ 87 millones
La mesa de comercio	Programático directo	$ 62 millones
Adobe publicidad en la nube	Licitación en tiempo real	$ 45 millones

Integraciones de aplicaciones de sitio web e móviles

A partir de 2024, Outbrain admite integraciones con 42,000 sitios web y aplicaciones móviles en todo el mundo.

• Integraciones de aplicaciones móviles: 18,500 aplicaciones
• Integraciones del sitio web: 23,500 sitios web
• Usuarios únicos diarios promedio: 387 millones

Red de socios y programas de referencia

Outbrain mantiene una red de socios globales con 276 asociaciones estratégicas activas.

Categoría de socio	Número de socios	Contribución anual de ingresos
Socios de medios digitales	124	$ 93 millones
Socios tecnológicos	86	$ 67 millones
Socios de la agencia	66	$ 52 millones

Outbrain Inc. (OB) - Modelo de negocio: segmentos de clientes

Medios en línea y editores de contenido

A partir de 2024, Outbrain atiende a aproximadamente 55,000 editores digitales a nivel mundial. Las métricas clave incluyen:

Categoría de editor	Número de editores	Visitantes únicos mensuales
Sitios web de noticias	18,500	1.200 millones
Sitios de entretenimiento	12,300	850 millones
Blogs de estilo de vida	9,200	620 millones

Agencias de publicidad digital

Outbrain se asocia con más de 3.700 agencias de publicidad digital en todo el mundo.

• Gasto publicitario mensual promedio por agencia: $ 287,000
• Ingresos publicitarios de la agencia anual total: $ 1.3 mil millones
• Integración de publicidad programática: 92% de las agencias

Sitios web de comercio electrónico

Outbrain admite 24,500 plataformas de comercio electrónico con tecnologías de recomendación.

Segmento de comercio electrónico	Número de sitios web	Tráfico mensual promedio
Minorista	14,200	450 millones
Moda	5,600	220 millones
Electrónica	4,700	180 millones

Desarrolladores de aplicaciones móviles

Outbrain atiende a 8,900 desarrolladores de aplicaciones móviles en varias plataformas.

• Integración de iOS: 5.200 desarrolladores
• Integración de Android: 6.100 desarrolladores
• Impresiones promedio de aplicaciones mensuales: 2.4 mil millones

Creadores de contenido digital

Outbrain admite 17.300 creadores e influyentes de contenido digital.

Tipo de creador de contenido	Número de creadores	Alcance mensual promedio
Creadores de YouTube	6,500	380 millones
Blog Writers	5,800	220 millones
Influenciadores de las redes sociales	5,000	290 millones

Outbrain Inc. (OB) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Outbrain reportó gastos de I + D por un total de $ 53.6 millones, lo que representa el 23.4% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2022	$ 53.6 millones	23.4%
2021	$ 47.2 millones	22.1%

Mantenimiento de la infraestructura tecnológica

Los costos anuales de infraestructura de tecnología para Outbrain fueron de aproximadamente $ 18.3 millones en 2022, cubriendo servicios en la nube, servidores y mantenimiento de la red.

• Gastos de alojamiento en la nube: $ 8.7 millones
• Infraestructura del servidor: $ 5.6 millones
• Mantenimiento de la red: $ 4 millones

Inversiones de ventas y marketing

Los gastos de ventas y marketing de Outbrain en 2022 alcanzaron los $ 81.4 millones, lo que representa el 35.6% de los ingresos totales.

Categoría de gastos	Cantidad
Compensación del equipo de ventas	$ 37.6 millones
Campañas de marketing	$ 43.8 millones

Costos de procesamiento y almacenamiento de datos

La infraestructura de datos y los gastos de procesamiento totalizaron $ 22.5 millones en 2022.

• Almacenamiento de datos: $ 9.2 millones
• Tecnologías de procesamiento de datos: $ 13.3 millones

Adquisición de talento y compensación de empleados

Los gastos totales relacionados con los empleados para Outbrain en 2022 fueron de $ 112.7 millones.

Categoría de compensación	Cantidad
Salarios base	$ 89.3 millones
Compensación basada en acciones	$ 15.4 millones
Costos de reclutamiento	$ 8 millones

Outbrain Inc. (OB) - Modelo de negocio: flujos de ingresos

Tarifas publicitarias basadas en el desempeño

A partir del cuarto trimestre de 2023, Outbrain generó $ 214.7 millones en ingresos totales, con tarifas publicitarias basadas en el rendimiento que representan una parte significativa de su flujo de ingresos.

Tipo de ingresos	Porcentaje	Cantidad ($ m)
Publicidad basada en el rendimiento	65%	139.55

Comisión de recomendación de contenido

Outbrain gana comisiones recomendando contenido en plataformas digitales, generando aproximadamente $ 42.9 millones en 2023.

Ingresos publicitarios programáticos

La publicidad programática contribuyó con $ 53.6 millones a los ingresos de Outbrain en 2023.

Segmentos de publicidad programática	Ingresos ($ M)
Mostrar publicidad	32.1
Publicidad de video	21.5

Licencias de datos e información

La licencia de datos generó aproximadamente $ 18.3 millones en ingresos para Outbrain en 2023.

• Insights de comportamiento del consumidor
• Datos de segmentación de audiencia
• Métricas de compromiso

Suscripciones de servicio de editorial premium

Las suscripciones de editorial premium representaron $ 22.5 millones en ingresos recurrentes anuales.

Nivel de suscripción	Ingresos ($ M)
Editor básico	12.3
Editor empresarial	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.