Taboola (TBLA) Announces Cost Restructuring, Reaffirms Third Quarter Guidance
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Taboola Announces Cost Restructuring To Ensure Continued Profitable Growth and Free Cash Flow
September 13, 2022 4:12 PM EDTRealigning and restructuring teams to focus on three top priorities: performance advertising, e-Commerce and header biddingExpect to reduce 2023 Operating Expenses by $50M, further improving Adjusted EBITDA* and Free Cash Flow*, two non-GAAP metrics we focus onCost savings achieved via a workforce reduction of approximately 6%, as well as $23M reduction in discretionary expenses and $15M reduction in capital expenditures in 2023Reaffirming Q3 Guidance and expects to generate over $152M in Adjusted EBITDA in 2022
NEW YORK, Sept. 13, 2022 (GLOBE... More
