Zeta Global Holdings Corp. (ZETA) Increases 3Q'24 Guidance

Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today announced increased third quarter 2024 guidance.

“The Zeta Marketing Platform with data and Artificial Intelligence at our core is fueling our growth,” said David A. Steinberg, Co-Founder, Chairman, and CEO of Zeta. “Through our strong competitive positioning, we see an acceleration in the marketing cloud replacement cycle. Coupled with increasing adoption of generative AI, we believe this gives us continued momentum.”

"The combination of accelerating growth through the first two months of the quarter along with high visibility across our customer base gives us confidence to increase our guidance,” said Chris Greiner, Zeta’s CFO. “We believe the uplift we are seeing reflects new growth that is not the result of pull forward activity from the fourth quarter and we are pleased with the momentum we are experiencing."

Guidance*

Third Quarter 2024

• Increasing revenue guidance to at least $255 million, up $15.8 million from the midpoint of the prior guidance of $239.2 million. The revised guidance represents year-over-year growth of at least 35%.
• Increasing revenue guidance from political candidates to at least $10 million, up $5 million from the prior guidance of $5 million. Excluding political candidate revenue, the revised revenue guidance represents year-over-year growth of at least 30%.
• Increasing Adjusted EBITDA guidance to at least $50.2 million, up $3.1 million from the midpoint of the prior guidance of $47.1 million. The revised guidance represents year-over-year growth of at least 49% and at these values implies an Adjusted EBITDA margin of 19.7%.

We are not updating our full year 2024 guidance at this time. We do not believe that the uplift we are experiencing in our business in the third quarter was driven by projected revenues from the fourth quarter being pulled forward. We expect to discuss our fourth quarter and full year guidance with our third quarter earnings release, once our actual results for the third quarter are finalized.

* This press release does not include a reconciliation of forward-looking Adjusted EBITDA and Adjusted EBITDA margin to forward-looking GAAP net income (loss) and net income (loss) margin, respectively, because the Company is unable, without making unreasonable efforts, to provide a meaningful or reasonably accurate calculation or estimation of certain reconciling items which could be significant to the Company’s results.

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