Integral Ad Science Holding Corp. (NASDAQ:IAS) Q3 2022 Earnings Conference Call November 10, 2022 5:00 PM ET

Company Participants

Jonathan Schaffer - Head of Investor Relations

Lisa Utzschneider - Chief Executive Officer

Anil Sukumaran - CAO

Conference Call Participants

Andrew Marok - Raymond James

Operator

Thank you for standing by and welcome to IAS Third Quarter 2022 Earnings Call. at this time all participants are in listen-only mode. [Operator Instructions].

I would now like to hand over the call over to Jonathan Schaffer, VP investor Relations. Please go ahead.

Jonathan Schaffer

Thank you. Good afternoon, and welcome to the IAS 2022 Third Quarter Financial Results Conference Call. I'm joined today by Lisa Utzschneider, CEO. As announced this afternoon via press release Tania Secor has been appointed as CFO effective December 5. We look forward to Tania joining for our next earnings call. On today's call Lisa will address high level financial results in her comment. In addition we have posted Lisa's prepared remark along with the more detailed financial review on our Investor Relations site investor.integralads.com. Anil Sukumaran our Chief Accounting Officer will also be available with Lisa during the Q&A session on today's call.

Please note that today's call and prepared remarks contain forward-looking statements. We refer you to the company's filings with the SEC, which are posted on our Investor Relations site for more details about important risks and uncertainties that could cause actual results to differ materially from our expectations. We will also refer to non-GAAP measures. A reconciliation of non-GAAP measures to the most directly comparable GAAP measures is contained in today's earnings release available on our Investor Relations site. All financial comparisons unless noted otherwise, are based on the prior year period. So with these formalities out of the way, I'd now like to turn the call over to our CEO Lisa Utzschneider. Lisa, you may begin.

Lisa Utzschneider

Thanks, Jonathan, and welcome everyone to our 2022 third quarter earnings call. As mentioned, we posted detailed financial review on our IRS site. But let me start with a few financial highlights. We've reported 28% increase in third quarter revenue year-over-year year-over-year to $101.3 million, which compares favorably to our previously revised outlook of $99 million to $101 million. International represented 31% of third quarter revenue unchanged from the second quarter. Gross profit margin was 81%. Adjusted the EBITDA increased 19% year-over-year to $30.1 million at a 30% margin as we exceeded the rule of 50. We also reached net income profitability for the third consecutive quarter. As a result of our positive Q3 performance and current business trends. We are modestly increasing our previously revised full year revenue outlook. We are also raising the midpoint of our revised full year adjusted EBITDA range.