Comscore revenue down 1.9% YOY, but profitability and adjusted EBITDA increase significantly

Comscore, Inc. (Nasdaq: SCOR), a platform for planning, transacting, and evaluating media, yesterday reported financial results for the quarter ended September 30, 2023. Comscore's third-quarter results were mixed, with revenue down slightly year-over-year but profitability and adjusted EBITDA up significantly.

Comscore reported a:

• Revenue of $91.0 million, down 1.9% year-over-year
• Net income of $2.6 million, compared to a net loss of $52.4 million in Q3 2022
• Adjusted EBITDA of $13.4 million, up 14.7% year-over-year
• Double-digit growth in local TV revenue
• More than 20% growth in Activation and Comscore Campaign Ratings

"Despite challenging end-markets that impacted revenue in the quarter, we delivered double-digit growth in local TV, more than 20% growth in Activation and Comscore Campaign Ratings, and a significant increase in profitability and adjusted EBITDA," said Jon Carpenter, CEO of Comscore. "As we close out 2023 and look to 2024, we will continue to leverage Comscore's complete view of audiences across platforms to deliver value for our clients and shareholders."

For full-year 2023, Comscore expects revenue to be flat to down 1% compared to 2022 and reaffirms its guidance for an adjusted EBITDA margin in the double digits.