Outbrain (Teads)
The other big native recommendation network; it bought Teads in 2025 and now trades as Teads (TEAD).
New York, USA · founded 2006 · teads.com
TEAD NASDAQ
What Outbrain (Teads) does
Outbrain was founded in 2006 and, with Taboola, built the market for recommended-link boxes on news sites. For search arbitrage it has been the second main source of Native-to-search clicks.
In August 2024 Outbrain agreed to buy the video ad company Teads in a deal announced at about $1 billion. It closed on 3 February 2025 on revised terms. In June 2025 the combined company renamed itself Teads Holding Co., and its shares now trade on Nasdaq as TEAD. The old OB ticker no longer exists.
The shares have been weak. In August 2026 the company disclosed a Nasdaq notice that its share price had closed below the $1.00 minimum for 30 consecutive business days. The notice has no immediate effect on the listing.
How it makes money
Advertisers pay per click or per view; the company pays publishers for the space and keeps the difference.
Where it meets invalid traffic
Like Taboola it must review the ads and landing pages it carries. Arbitrage landers are allowed on native networks only where they meet the network's content and disclosure rules.
Products
- Teads Ad Manager
- Outbrain native placements
- Zemanta DSP
Quarterly revenue
From SEC XBRL filings · latest quarter -17.1% year on yearQuarterly net income
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1B | $992.1M | $935.8M | $889.9M | $1.3B |
| Net income | $11M | $-24.6M | $10.2M | $-711K | $-517.1M |
| Diluted EPS | $0.20 | $-0.44 | $-0.06 | $-0.11 | $-5.69 |
Earnings, explained
Teads' Q2 revenue drops 17%, suspends 2026 guidance amid Direct Response headwinds
Teads reported Q2 2026 revenue of $284.6 million, down 17% from the prior year. The company posted a net loss of $42.5 million, widening from a $14.3 million loss last year, and adjusted EBITDA fell to $7.0 million from $27.0 million. Cash from operating activities dropped 63% to $9.2 million. Due to volatility in its Direct Response and SME business, Teads has suspended its full-year 2026 guidance.
Teads is facing significant challenges in its core open-web advertising segments, leading to lower revenue and profitability. However, strong growth in CTV and enterprise omnichannel deals suggests the company is pivoting toward higher-margin opportunities despite current market headwinds.
SEC filings
EDGAR| Filed | Form | What it is |
|---|---|---|
| 2026-10-01 | 8-K | Executive or director change |
| 2026-08-14 | 8-K | Listing notice |
| 2026-08-07 | 10-Q | Quarterly report |
| 2026-08-06 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2026-08-03 | 8-K | Regulation FD disclosure · Other events · Financial statements and exhibits |
| 2026-06-08 | 8-K | Other events |
| 2026-05-15 | 8-K | Shareholder vote |
| 2026-05-08 | 10-Q | Quarterly report |
| 2026-05-07 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2026-04-01 | DEF 14A | DEF 14A |
| 2026-03-16 | 10-K | Annual report |
| 2026-03-05 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2025-12-23 | 8-K | Listing notice |
| 2025-12-08 | 8-K | Restructuring costs |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-11-06 | 8-K | Results of operations (earnings) · Financial statements and exhibits |