Teads Q1 Revenue Falls 7% to $266M, EBITDA Collapses 93% to $0.8M
Teads posted Q1 2026 revenue of $266.0 million, down 7% YoY, with 1% gross profit growth to $83.6 million and a $38.8 million net loss. Excluding traffic acquisition costs, gross profit rose 5% to $107.9 million, while adjusted EBITDA plunged 93% to $0.8 million.
1. Q1 Financial Results
Teads reported Q1 2026 revenue of $266.0 million, a 7% decrease from $286.4 million in Q1 2025, partly offset by $11.6 million in favorable currency effects. Gross profit increased 1% to $83.6 million and net loss narrowed to $38.8 million. On a non-GAAP basis, Ex-TAC gross profit rose 5% to $107.9 million, but adjusted EBITDA collapsed 93% to $0.8 million and net operating cash usage jumped to $34.9 million, resulting in negative free cash flow of $41.1 million. Cash, cash equivalents and marketable securities totaled $98.7 million against total debt obligations of $623.4 million.
2. CTV and Platform Highlights
Teads delivered over 50% year-over-year growth in connected TV revenue, with omnichannel branding campaigns rising to 13% of CTV spend from 8% last year. The company expanded its CTV HomeScreen platform globally through exclusive deals with LG, Samsung and other partners, and saw 16% of enterprise brand spend shift to performance-focused campaigns. Key joint business partnerships were renewed with McDonald’s, Heineken and Volkswagen.
3. 2026 Guidance
For Q2 ending June 30, 2026, Teads expects Ex-TAC gross profit of $121 million to $131 million and adjusted EBITDA of $14 million to $22 million. Full-year 2026 guidance remains at approximately $100 million of adjusted EBITDA.