Zeta Global Holdings Corp. (NYSE:ZETA) Q3 2023 Earnings Call Transcript
Zeta Global Holdings Corp. (NYSE:ZETA) Q3 2023 Earnings Call Transcript November 1, 2023
Zeta Global Holdings Corp. misses on earnings expectations. Reported EPS is $-0.2726 EPS, expectations were $0.09.
Operator: Greetings, and welcome to the Zeta’s Third Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Scott Schmitz, Senior Vice President of Investor Relations. Please go ahead.
Scott Schmitz: Thank you, operator. Hello, everyone, and thank you for joining us for Zeta’s third quarter 2023 conference call. Today's presentation and earnings release are available on Zeta's Investor Relations website at investors.zetaglobal.com where you will also find links to our SEC filings, along with other information about Zeta. Joining me on the call today are David Steinberg, Zeta's Co-Founder, Chairman and Chief Executive Officer; and Chris Greiner, Zeta's Chief Financial Officer. Before we begin, I'd like to remind everyone that statements made on this call as well as in the presentation and earnings release contains forward-looking statements regarding our financial outlook, business plans and objectives and other future events and developments, including statements about the market potential of our products, potential competition and revenues of our products in our goals and strategies.
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These statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include those described in the company's earnings release and other filings with the SEC and speak only as of today's date. In addition, our discussion today will include references to certain supplemental non-GAAP financial measures, which should be considered in addition to and not as a substitute for our GAAP results. We use these non-GAAP measures in managing the business and believe they provide useful information for our investors. Reconciliations of the non-GAAP measures to the corresponding GAAP measures where appropriate can be found in the earnings presentation available on our website as well as our earnings release and other filings with the SEC.
With that, I will now turn the call over to David.
David Steinberg: Thank you, Scott. Good afternoon, everyone, and thank you for joining us today. Our third quarter of 2023 was one of our most eventful and productive quarters yet, highlighted by key events including Zeta Live, our Customer Advisory Board Meeting, and our first Investor Day. Most importantly, we continued our track record of consistent execution, delivering results above our guidance for the ninth consecutive time. In the quarter, we delivered record revenue of $189 million, up 24% year-over-year, with adjusted EBITDA of $34 million, up 51% year-over-year. This translates to an adjusted EBITDA margin of 17.9%, up 310 basis points year-over-year. We generated $23 million of cash from operating activities, up 17%, with free cash flow of $13 million, up 43% year-over-year.
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