Comscore Reports First Quarter 2025 Results
Comscore reported mixed Q1 2025 financial results with revenue of $85.7 million, down 1.3% from Q1 2024. The company posted a net loss of $4.0 million compared to $1.1 million loss in Q1 2024. Cross-Platform offerings showed strong performance with 20.5% growth, while Content & Ad Measurement revenue increased by 0.8%. However, Research & Insight Solutions declined by 11.5%.
The company maintained its adjusted EBITDA margin guidance of 12-15% but expects full-year revenue to be at the low end of its previously announced $360-370 million range. Comscore achieved additional MRC accreditation for demos, remaining the only MRC-accredited national and local TV measurement service. The company's cautious outlook reflects current macroeconomic challenges affecting ad spending, with Q2 revenue expected to be flat compared to Q1.
[ "Cross-Platform revenue grew significantly by 20.5% compared to Q1 2024", "Content & Ad Measurement revenue increased by 0.8%", "Achieved additional MRC accreditation for demos", "Slight improvement in adjusted EBITDA to $7.4M from $7.2M in Q1 2024", "Operating expenses decreased by 0.3% to $87.1M" ]Comscore ha riportato risultati finanziari contrastanti nel primo trimestre 2025, con ricavi pari a 85,7 milioni di dollari, in calo dell'1,3% rispetto al primo trimestre 2024. L'azienda ha registrato una perdita netta di 4,0 milioni di dollari rispetto a una perdita di 1,1 milioni nel primo trimestre 2024. Le offerte Cross-Platform hanno mostrato una forte crescita del 20,5%, mentre i ricavi da Content & Ad Measurement sono aumentati dello 0,8%. Tuttavia, le soluzioni Research & Insight hanno registrato un calo dell'11,5%.
L'azienda ha confermato la guidance per un margine adjusted EBITDA tra il 12% e il 15%, ma prevede che i ricavi annuali si posizioneranno nella fascia bassa dell'intervallo precedentemente annunciato di 360-370 milioni di dollari. Comscore ha ottenuto un'ulteriore certificazione MRC per le demo, rimanendo l'unico servizio di misurazione nazionale e locale della TV accreditato MRC. Le prospettive prudenti riflettono le attuali sfide macroeconomiche che influenzano la spesa pubblicitaria, con ricavi del secondo trimestre attesi stabili rispetto al primo trimestre.
Tra gli aspetti positivi, i ricavi Cross-Platform sono cresciuti significativamente del 20,5% rispetto al primo trimestre 2024, i ricavi da Content & Ad Measurement sono aumentati dello 0,8%, 猫 stata ottenuta un'ulteriore accreditamento MRC per le demo, l'EBITDA adjusted 猫 leggermente migliorato a 7,4 milioni da 7,2 milioni nel primo trimestre 2024 e le spese operative sono diminuite dello 0,3% a 87,1 milioni di dollari.
Comscore report贸 resultados financieros mixtos en el primer trimestre de 2025, con ingresos de 85,7 millones de d贸lares, una disminuci贸n del 1,3% respecto al primer trimestre de 2024. La compa帽铆a registr贸 una p茅rdida neta de 4,0 millones de d贸lares en comparaci贸n con una p茅rdida de 1,1 millones en el primer trimestre de 2024. Las ofertas Cross-Platform mostraron un s贸lido desempe帽o con un crecimiento del 20,5%, mientras que los ingresos por Content & Ad Measurement aumentaron un 0,8%. Sin embargo, las soluciones de Research & Insight disminuyeron un 11,5%.
La empresa mantuvo su gu铆a de margen EBITDA ajustado entre el 12% y el 15%, pero espera que los ingresos anuales est茅n en el extremo inferior del rango previamente anunciado de 360-370 millones de d贸lares. Comscore logr贸 una acreditaci贸n adicional de MRC para demos, permaneciendo como el 煤nico servicio de medici贸n de TV nacional y local acreditado por MRC. La perspectiva cautelosa refleja los desaf铆os macroecon贸micos actuales que afectan el gasto publicitario, con ingresos del segundo trimestre esperados estables en comparaci贸n con el primero.
Entre los aspectos positivos, los ingresos Cross-Platform crecieron significativamente un 20,5% respecto al primer trimestre de 2024, los ingresos de Content & Ad Measurement aumentaron un 0,8%, se logr贸 una acreditaci贸n adicional de MRC para demos, el EBITDA ajustado mejor贸 ligeramente a 7,4 millones desde 7,2 millones en el primer trimestre de 2024 y los gastos operativos disminuyeron un 0,3% hasta 87,1 millones de d贸lares.
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須岇偓電� 臁办爼 EBITDA 毵堨 臧�鞚措崢鞀るゼ 12-15%搿� 鞙犾頄堨溂雮�, 鞐瓣皠 毵れ稖鞚� 鞚挫爠鞐� 氚滍憸頃� 3鞏� 6觳滊~3鞏� 7觳滊 雼煬 氩旍渼鞚� 頃橂嫧鞐� 毹鸽 瓴冹溂搿� 鞓堨儊頃╇媹雼�. 旎挫姢旖旍柎電� 雿半 攵�氍胳棎靹� 於旉皜 MRC 鞚胳鞚� 須嶋摑頃� MRC 鞚胳鞚� 氚涭潃 鞙犾澕頃� 鞝勱淡 氚� 歆�鞐� TV 旄§爼 靹滊箘鞀る 雮晞 鞛堨姷雼堧嫟. 須岇偓鞚� 鞁犾頃� 鞝勲鞚� 甏戧碃 歆�於滌棎 鞓來枼鞚� 氙胳箻電� 順勳灛鞚� 瓯办嫓瓴届牅鞝� 霃勳爠 瓿检牅毳� 氚橃榿頃橂┌, 2攵勱赴 毵れ稖鞚� 1攵勱赴鞕� 牍勳姺頃� 瓴冹溂搿� 鞓堨儊霅╇媹雼�.
旮嶌爼鞝侅澑 旄‰┐鞙茧電�, 韥鞀� 頂岆灚韽� 毵れ稖鞚� 2024雲� 1攵勱赴 雽�牍� 20.5% 韥矊 靹膘灔頄堦碃, 旖橅厫旄� 氚� 甏戧碃 旄§爼 毵れ稖鞚� 0.8% 歃濌皜頄堨溂氅�, 雿半 攵�氍胳棎靹� 於旉皜 MRC 鞚胳鞚� 氚涭晿瓿�, 臁办爼 EBITDA電� 2024雲� 1攵勱赴鞚� 720毵� 雼煬鞐愳劀 740毵� 雼煬搿� 靻岉彮 臧滌劆霅橃棃鞙茧┌, 鞓侅梾牍勳毄鞚� 0.3% 臧愳唽頃� 8710毵� 雼煬毳� 旮半頄堨姷雼堧嫟.
Comscore a publi茅 des r茅sultats financiers mitig茅s pour le premier trimestre 2025, avec un chiffre d'affaires de 85,7 millions de dollars, en baisse de 1,3 % par rapport au premier trimestre 2024. L'entreprise a enregistr茅 une perte nette de 4,0 millions de dollars contre une perte de 1,1 million au premier trimestre 2024. Les offres Cross-Platform ont affich茅 une solide performance avec une croissance de 20,5 %, tandis que les revenus de Content & Ad Measurement ont augment茅 de 0,8 %. En revanche, les solutions Research & Insight ont diminu茅 de 11,5 %.
L'entreprise a maintenu ses pr茅visions de marge EBITDA ajust茅e entre 12 et 15 %, mais pr茅voit un chiffre d'affaires annuel situ茅 dans la partie basse de la fourchette pr茅c茅demment annonc茅e de 360 脿 370 millions de dollars. Comscore a obtenu une accr茅ditation MRC suppl茅mentaire pour les d茅mos, restant le seul service de mesure TV national et local accr茅dit茅 par le MRC. Les perspectives prudentes refl猫tent les d茅fis macro茅conomiques actuels affectant les d茅penses publicitaires, avec un chiffre d'affaires du deuxi猫me trimestre attendu stable par rapport au premier trimestre.
Parmi les points positifs, les revenus Cross-Platform ont connu une croissance significative de 20,5 % par rapport au premier trimestre 2024, les revenus de Content & Ad Measurement ont augment茅 de 0,8 %, une accr茅ditation MRC suppl茅mentaire a 茅t茅 obtenue pour les d茅mos, l'EBITDA ajust茅 a l茅g猫rement progress茅 脿 7,4 millions contre 7,2 millions au premier trimestre 2024, et les d茅penses op茅rationnelles ont diminu茅 de 0,3 % pour s'茅tablir 脿 87,1 millions de dollars.
Comscore meldete gemischte Finanzergebnisse f眉r das erste Quartal 2025 mit einem Umsatz von 85,7 Millionen US-Dollar, was einem R眉ckgang von 1,3 % gegen眉ber dem ersten Quartal 2024 entspricht. Das Unternehmen verzeichnete einen Nettoverlust von 4,0 Millionen US-Dollar im Vergleich zu einem Verlust von 1,1 Millionen im ersten Quartal 2024. Die Cross-Platform-Angebote zeigten mit einem Wachstum von 20,5 % eine starke Leistung, w盲hrend die Ums盲tze im Bereich Content & Ad Measurement um 0,8 % stiegen. Die Research & Insight Solutions gingen jedoch um 11,5 % zur眉ck.
Das Unternehmen best盲tigte seine Prognose f眉r eine bereinigte EBITDA-Marge von 12-15 %, erwartet jedoch, dass der Jahresumsatz am unteren Ende der zuvor angek眉ndigten Spanne von 360-370 Millionen US-Dollar liegen wird. Comscore erhielt eine zus盲tzliche MRC-Akkreditierung f眉r Demos und bleibt damit der einzige MRC-akkreditierte nationale und lokale TV-Messdienst. Der vorsichtige Ausblick spiegelt die aktuellen makro枚konomischen Herausforderungen wider, die die Werbeausgaben beeinflussen, wobei f眉r das zweite Quartal ein stabiler Umsatz im Vergleich zum ersten Quartal erwartet wird.
Zu den positiven Aspekten z盲hlen ein deutliches Wachstum der Cross-Platform-Ums盲tze um 20,5 % gegen眉ber dem ersten Quartal 2024, ein Anstieg der Ums盲tze im Bereich Content & Ad Measurement um 0,8 %, der Erhalt einer zus盲tzlichen MRC-Akkreditierung f眉r Demos, eine leichte Verbesserung des bereinigten EBITDA auf 7,4 Millionen US-Dollar gegen眉ber 7,2 Millionen im ersten Quartal 2024 sowie ein R眉ckgang der Betriebsausgaben um 0,3 % auf 87,1 Millionen US-Dollar.
- None.
- Overall revenue declined 1.3% to $85.7M compared to Q1 2024
- Net loss widened to $4.0M from $1.1M in Q1 2024
- Research & Insight Solutions revenue declined 11.5%
- Lowered full-year revenue expectations to low end of guidance range
- Expects flat revenue growth in Q2 2025
Insights
Comscore's Q1 shows widening losses and lowered guidance despite bright spots in cross-platform offerings, signaling ongoing transformation challenges.
Comscore's Q1 2025 results reveal a company navigating challenging market conditions with mixed success across its business segments. Revenue declined
The standout positive was the
However, these bright spots were offset by weaknesses elsewhere. Despite the strong Cross-Platform performance, the broader Content & Ad Measurement revenue increased only
From a financial position perspective, Comscore reported
Management's forward guidance suggests continued headwinds, with CEO Jon Carpenter noting a "slowdown in spending across a few key categories" that "muted our momentum." The company now expects to hit only the low end of its previously provided revenue range (
The minimal improvement in adjusted EBITDA (
While Comscore shows promising growth in strategic areas like Cross-Platform and Local offerings, the wider losses, flat revenue projection for Q2, and reduced full-year expectations indicate significant challenges ahead as the company continues its transformation amid uncertain advertising market conditions.
RESTON, Va., May 06, 2025 (GLOBE NEWSWIRE) -- Comscore, Inc. (Nasdaq: SCOR), a trusted partner for planning, transacting and evaluating media across platforms, today reported financial results for the quarter ended March听31, 2025.
"In the first quarter, we delivered double-digit growth in our Cross-Platform and Local offerings, highlighting continued progress in key areas of our strategy. We also earned additional MRC accreditation of our demos, expanding upon the national and local accreditation we received last year. Comscore remains the only MRC-accredited national and local TV measurement service," said Jon Carpenter, CEO. "While Cross-Platform grew
Q1 2025 Financial Highlights
- Revenue for the first quarter was
$85.7 million compared to$86.8 million in Q1 2024 - Net loss of
$4.0 million compared to$1.1 million in Q1 2024 - Excluding the impact of foreign currency transactions, adjusted EBITDA1 of
$7.4 million compared to$7.2 million in Q1 2024
First Quarter Summary Results
Revenue in the first quarter was
Our core operating expenses, which include cost of revenues, sales and marketing, research and development and general and administrative expenses, were
Net loss for the quarter was
Non-GAAP adjusted EBITDA for the quarter was
Balance Sheet and Liquidity
As of March听31, 2025, cash, cash equivalents and restricted cash totaled
2025 Outlook
Based on current trends and expectations, we believe full-year revenue will be in the low end of the range previously provided (
We do not provide GAAP net income (loss) or net income (loss) margin on a forward-looking basis because we are unable to predict with reasonable certainty our future stock-based compensation expense, fair value adjustments, variable interest expense, litigation and restructuring expense, foreign currency transaction impact, and any unusual gains or losses without unreasonable effort. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. For this reason, we are unable without unreasonable effort to provide a reconciliation of adjusted EBITDA or adjusted EBITDA margin to the most directly comparable GAAP measure, GAAP net income (loss) and net income (loss) margin, on a forward-looking basis.
Conference Call Information for Today, Tuesday, May听6, 2025 at 5:00 p.m. ET
Management will host a conference call to discuss the results on Tuesday, May听6, 2025 at 5:00 p.m. ET. The live audio webcast along with supplemental information will be accessible at . Participants can obtain dial-in information by registering for the call at the same web address and are advised to register in advance of the call to avoid delays. Following the conference call, a replay will be available via webcast at .
About Comscore
Comscore is a global, trusted partner for planning, transacting and evaluating media across platforms. With a data footprint that combines digital, linear TV, over-the-top and theatrical viewership intelligence with advanced audience insights, Comscore empowers media buyers and sellers to quantify their multiscreen behavior and make meaningful business decisions with confidence. A proven leader in measuring digital and TV audiences and advertising at scale, Comscore is the industry's emerging, third-party source for reliable and comprehensive cross-platform measurement.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal and state securities laws, including, without limitation, our expectations, forecasts, plans and opinions regarding expected revenue and adjusted EBITDA margin for 2025, revenue drivers and growth opportunities, demand for our products, industry factors and economic conditions, and changes in our operations and strategy. These statements involve risks and uncertainties that could cause actual events to differ materially from expectations, including, but not limited to, changes in our business and customer, partner and vendor relationships; external market conditions and competition; continued changes or declines in ad spending or other macroeconomic factors; evolving trade policies and privacy and regulatory standards; product adoption rates; and our ability to achieve our expected strategic, financial and operational plans. For additional discussion of risk factors, please refer to our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other filings that we make from time to time with the U.S. Securities and Exchange Commission (the "SEC"), which are available on the SEC's website ().
Investors are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. We do not intend or undertake, and expressly disclaim, any duty or obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this press release, or to reflect the occurrence of unanticipated events.
Use of Non-GAAP Financial Measures
To provide investors with additional information regarding our financial results, we are disclosing in this press release adjusted EBITDA and adjusted EBITDA margin, which are non-GAAP financial measures used by our management to understand and evaluate our core operating performance and trends. We believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results, as they permit our investors to view our core business performance using the same metrics that management uses to evaluate our performance. Nevertheless, our use of these non-GAAP financial measures has limitations as an analytical tool, and investors should not consider these measures in isolation or as a substitute for analysis of our results as reported under GAAP. Instead, you should consider these measures alongside GAAP-based financial performance measures, net income (loss), net income (loss) margin, various cash flow metrics, and our other GAAP financial results. Set forth below are reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures, net income (loss) and net income (loss) margin. These reconciliations should be carefully evaluated.
| Media |
| Marie Scoutas |
| Comscore, Inc. |
| [email protected]听 |
| Investors |
| John Tinker |
| Comscore, Inc. |
| 212-203-2129 |
| [email protected]听 |
| 听 |
| COMSCORE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| 听 | 听 | 听 | 听 | ||||
| 听 | As of | 听 | As of | ||||
| 听 | March 31, 2025 | 听 | December 31, 2024 | ||||
| (In thousands, except share and per share data) | (Unaudited) | 听 | 听 | ||||
| Assets | 听 | 听 | 听 | ||||
| Current assets: | 听 | 听 | 听 | ||||
| Cash and cash equivalents | $ | 30,969 | 听 | 听 | $ | 29,937 | 听 |
| Restricted cash | 听 | 3,532 | 听 | 听 | 听 | 3,531 | 听 |
| Accounts receivable, net of allowances of | 听 | 50,609 | 听 | 听 | 听 | 64,266 | 听 |
| Prepaid expenses and other current assets | 听 | 13,852 | 听 | 听 | 听 | 10,323 | 听 |
| Total current assets | 听 | 98,962 | 听 | 听 | 听 | 108,057 | 听 |
| Property and equipment, net | 听 | 46,524 | 听 | 听 | 听 | 47,116 | 听 |
| Operating right-of-use assets | 听 | 12,548 | 听 | 听 | 听 | 13,173 | 听 |
| Deferred tax assets | 听 | 3,842 | 听 | 听 | 听 | 2,624 | 听 |
| Intangible assets, net | 听 | 4,425 | 听 | 听 | 听 | 5,058 | 听 |
| Goodwill | 听 | 246,950 | 听 | 听 | 听 | 246,010 | 听 |
| Other non-current assets | 听 | 8,280 | 听 | 听 | 听 | 8,209 | 听 |
| Total assets | $ | 421,531 | 听 | 听 | $ | 430,247 | 听 |
| Liabilities, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit) | 听 | 听 | 听 | ||||
| Current liabilities: | 听 | 听 | 听 | ||||
| Accounts payable | $ | 14,726 | 听 | 听 | $ | 16,471 | 听 |
| Accrued expenses | 听 | 37,203 | 听 | 听 | 听 | 35,013 | 听 |
| Contract liabilities | 听 | 43,987 | 听 | 听 | 听 | 45,464 | 听 |
| Accrued dividends | 听 | 13,401 | 听 | 听 | 听 | 8,962 | 听 |
| Customer advances | 听 | 10,281 | 听 | 听 | 听 | 9,566 | 听 |
| Current operating lease liabilities | 听 | 8,231 | 听 | 听 | 听 | 8,598 | 听 |
| Other current liabilities | 听 | 6,103 | 听 | 听 | 听 | 7,230 | 听 |
| Total current liabilities | 听 | 133,932 | 听 | 听 | 听 | 131,304 | 听 |
| Secured term loan | 听 | 40,350 | 听 | 听 | 听 | 40,718 | 听 |
| Non-current operating lease liabilities | 听 | 13,264 | 听 | 听 | 听 | 14,805 | 听 |
| Non-current portion of accrued data costs | 听 | 30,048 | 听 | 听 | 听 | 33,551 | 听 |
| Deferred tax liabilities | 听 | 892 | 听 | 听 | 听 | 891 | 听 |
| Other non-current liabilities | 听 | 9,033 | 听 | 听 | 听 | 9,771 | 听 |
| Total liabilities | 听 | 227,519 | 听 | 听 | 听 | 231,040 | 听 |
| Commitments and contingencies | 听 | 听 | 听 | ||||
| Convertible redeemable preferred stock, | 听 | 207,470 | 听 | 听 | 听 | 207,470 | 听 |
| Stockholders' equity (deficit): | 听 | 听 | 听 | ||||
| Preferred stock, | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 |
| Common stock, | 听 | 5 | 听 | 听 | 听 | 5 | 听 |
| Additional paid-in capital | 听 | 1,714,650 | 听 | 听 | 听 | 1,714,052 | 听 |
| Accumulated other comprehensive loss | 听 | (15,429 | ) | 听 | 听 | (18,068 | ) |
| Accumulated deficit | 听 | (1,482,700 | ) | 听 | 听 | (1,474,268 | ) |
| Treasury stock, at cost, 338,239 shares as of March听31, 2025 and December听31, 2024 | 听 | (229,984 | ) | 听 | 听 | (229,984 | ) |
| Total stockholders' equity (deficit) | 听 | (13,458 | ) | 听 | 听 | (8,263 | ) |
| Total liabilities, convertible redeemable preferred stock and stockholders' equity (deficit) | $ | 421,531 | 听 | 听 | $ | 430,247 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| COMSCORE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) | |||||||
| 听 | |||||||
| 听 | Three Months Ended March 31, | ||||||
| (In thousands, except share and per share data) | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Revenues | $ | 85,709 | 听 | 听 | $ | 86,795 | 听 |
| 听 | 听 | 听 | 听 | ||||
| Cost of revenues(1) (2) | 听 | 51,747 | 听 | 听 | 听 | 50,067 | 听 |
| Selling and marketing(1) (2) | 听 | 14,803 | 听 | 听 | 听 | 15,364 | 听 |
| Research and development(1) (2) | 听 | 8,118 | 听 | 听 | 听 | 8,767 | 听 |
| General and administrative(1) (2) | 听 | 12,475 | 听 | 听 | 听 | 13,213 | 听 |
| Amortization of intangible assets | 听 | 632 | 听 | 听 | 听 | 801 | 听 |
| Restructuring | 听 | 鈥� | 听 | 听 | 听 | 460 | 听 |
| Total expenses from operations | 听 | 87,775 | 听 | 听 | 听 | 88,672 | 听 |
| Loss from operations | 听 | (2,066 | ) | 听 | 听 | (1,877 | ) |
| Interest expense, net | 听 | (1,758 | ) | 听 | 听 | (572 | ) |
| (Loss) gain from foreign currency transactions | 听 | (1,743 | ) | 听 | 听 | 963 | 听 |
| Other income, net | 听 | 鈥� | 听 | 听 | 听 | 275 | 听 |
| Loss before income taxes | 听 | (5,567 | ) | 听 | 听 | (1,211 | ) |
| Income tax benefit | 听 | 1,574 | 听 | 听 | 听 | 157 | 听 |
| Net loss | $ | (3,993 | ) | 听 | $ | (1,054 | ) |
| Net loss available to common stockholders: | 听 | 听 | 听 | ||||
| Net loss | $ | (3,993 | ) | 听 | $ | (1,054 | ) |
| Convertible redeemable preferred stock dividends | 听 | (4,439 | ) | 听 | 听 | (4,240 | ) |
| Total net loss available to common stockholders | $ | (8,432 | ) | 听 | $ | (5,294 | ) |
| Net loss per common share: | 听 | 听 | 听 | ||||
| Basic and diluted | $ | (1.66 | ) | 听 | $ | (1.08 | ) |
| Weighted-average number of shares used in per share calculation - Common Stock: | 听 | 听 | 听 | ||||
| Basic and diluted | 听 | 5,088,576 | 听 | 听 | 听 | 4,895,121 | 听 |
| Comprehensive loss: | 听 | 听 | 听 | ||||
| Net loss | $ | (3,993 | ) | 听 | $ | (1,054 | ) |
| Other comprehensive loss: | 听 | 听 | 听 | ||||
| Foreign currency cumulative translation adjustment | 听 | 2,639 | 听 | 听 | 听 | (1,987 | ) |
| Total comprehensive loss | $ | (1,354 | ) | 听 | $ | (3,041 | ) |
| 听 | 听 | 听 | 听 | ||||
| (1) Excludes amortization of intangible assets, which is presented as a separate line item. | |||||||
| (2) Stock-based compensation expense is included in the line items above as follows: | |||||||
| 听 | 听 | 听 | 听 | ||||
| 听 | Three Months Ended March 31, | ||||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Cost of revenues | $ | 162 | 听 | 听 | $ | 243 | 听 |
| Selling and marketing | 听 | 124 | 听 | 听 | 听 | 140 | 听 |
| Research and development | 听 | 97 | 听 | 听 | 听 | 180 | 听 |
| General and administrative | 听 | 355 | 听 | 听 | 听 | 815 | 听 |
| Total stock-based compensation expense | $ | 738 | 听 | 听 | $ | 1,378 | 听 |
| 听 | 听 | 听 | 听 | ||||
| COMSCORE, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | |||||||
| 听 | 听 | ||||||
| 听 | Three Months Ended March 31, | ||||||
| (In thousands) | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Operating activities: | 听 | 听 | 听 | ||||
| Net loss | $ | (3,993 | ) | 听 | $ | (1,054 | ) |
| Adjustments to reconcile to net cash provided by operating activities: | 听 | 听 | 听 | ||||
| Depreciation | 听 | 5,805 | 听 | 听 | 听 | 5,248 | 听 |
| Non-cash operating lease expense | 听 | 1,229 | 听 | 听 | 听 | 1,249 | 听 |
| Amortization expense of finance leases | 听 | 909 | 听 | 听 | 听 | 644 | 听 |
| Stock-based compensation expense | 听 | 738 | 听 | 听 | 听 | 1,378 | 听 |
| Amortization of intangible assets | 听 | 632 | 听 | 听 | 听 | 801 | 听 |
| Deferred tax benefit | 听 | (1,084 | ) | 听 | 听 | (132 | ) |
| Other | 听 | 626 | 听 | 听 | 听 | 426 | 听 |
| Changes in operating assets and liabilities: | 听 | 听 | 听 | ||||
| Accounts receivable | 听 | 14,056 | 听 | 听 | 听 | 7,605 | 听 |
| Prepaid expenses and other assets | 听 | (3,653 | ) | 听 | 听 | (2,172 | ) |
| Accounts payable, accrued expenses and other liabilities | 听 | (3,056 | ) | 听 | 听 | (3,311 | ) |
| Contract liabilities and customer advances | 听 | (699 | ) | 听 | 听 | (1,164 | ) |
| Operating lease liabilities | 听 | (2,448 | ) | 听 | 听 | (2,650 | ) |
| Net cash provided by operating activities | 听 | 9,062 | 听 | 听 | 听 | 6,868 | 听 |
| 听 | 听 | 听 | 听 | ||||
| Investing activities: | 听 | 听 | 听 | ||||
| Capitalized internal-use software costs | 听 | (5,272 | ) | 听 | 听 | (5,833 | ) |
| Purchases of property and equipment | 听 | (379 | ) | 听 | 听 | (263 | ) |
| Net cash used in investing activities | 听 | (5,651 | ) | 听 | 听 | (6,096 | ) |
| 听 | 听 | 听 | 听 | ||||
| Financing activities: | 听 | 听 | 听 | ||||
| Contingent consideration payment at initial value | 听 | (859 | ) | 听 | 听 | (3,693 | ) |
| Principal payments on finance leases | 听 | (871 | ) | 听 | 听 | (658 | ) |
| Principal payments on insurance financing | 听 | (620 | ) | 听 | 听 | 鈥� | 听 |
| Payment of financing and debt issuance costs | 听 | (559 | ) | 听 | 听 | 鈥� | 听 |
| Principal payments of term loan | 听 | (113 | ) | 听 | 听 | 鈥� | 听 |
| Other | 听 | 鈥� | 听 | 听 | 听 | (56 | ) |
| Net cash used in financing activities | 听 | (3,022 | ) | 听 | 听 | (4,407 | ) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 听 | 644 | 听 | 听 | 听 | (384 | ) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 听 | 1,033 | 听 | 听 | 听 | (4,019 | ) |
| Cash, cash equivalents and restricted cash at beginning of period | 听 | 33,468 | 听 | 听 | 听 | 22,936 | 听 |
| Cash, cash equivalents and restricted cash at end of period | $ | 34,501 | 听 | 听 | $ | 18,917 | 听 |
听听听听听听听听
| 听 | As of March 31, | ||||
| 听 | 听 | 2025 | 听 | 听 | 2024 |
| Cash and cash equivalents | $ | 30,969 | 听 | $ | 18,730 |
| Restricted cash | 听 | 3,532 | 听 | 听 | 187 |
| Total cash, cash equivalents and restricted cash | $ | 34,501 | 听 | $ | 18,917 |
| 听 | 听 | 听 | 听 | 听 | 听 |
Reconciliation of Non-GAAP Financial Measures
The following table presents a reconciliation of GAAP net loss and net loss margin to non-GAAP adjusted EBITDA and adjusted EBITDA margin for each of the periods identified. Beginning this quarter and for the comparable prior period, adjusted EBITDA is presented excluding the impact of foreign currency transactions, as described above.
| 听 | Three Months Ended March 31, | ||||||
| (In thousands) | 2025 (Unaudited) | 听 | 2024 (Unaudited) | ||||
| GAAP net loss | $ | (3,993 | ) | 听 | $ | (1,054 | ) |
| 听 | 听 | 听 | 听 | ||||
| Depreciation | 听 | 5,805 | 听 | 听 | 听 | 5,248 | 听 |
| Interest expense, net | 听 | 1,758 | 听 | 听 | 听 | 572 | 听 |
| Amortization expense of finance leases | 听 | 909 | 听 | 听 | 听 | 644 | 听 |
| Amortization of intangible assets | 听 | 632 | 听 | 听 | 听 | 801 | 听 |
| Income tax benefit | 听 | (1,574 | ) | 听 | 听 | (157 | ) |
| EBITDA | 听 | 3,537 | 听 | 听 | 听 | 6,054 | 听 |
| 听 | 听 | 听 | 听 | ||||
| Adjustments: | 听 | 听 | 听 | ||||
| Loss (gain) from foreign currency transactions | 听 | 1,743 | 听 | 听 | 听 | (963 | ) |
| Transformation costs(1) | 听 | 1,007 | 听 | 听 | 听 | 75 | 听 |
| Stock-based compensation expense | 听 | 738 | 听 | 听 | 听 | 1,378 | 听 |
| Amortization of cloud-computing implementation costs | 听 | 345 | 听 | 听 | 听 | 362 | 听 |
| Restructuring | 听 | 鈥� | 听 | 听 | 听 | 460 | 听 |
| Change in fair value of contingent consideration liability | 听 | 鈥� | 听 | 听 | 听 | 89 | 听 |
| Other income, net(2) | 听 | 鈥� | 听 | 听 | 听 | (286 | ) |
| Non-GAAP adjusted EBITDA | $ | 7,370 | 听 | 听 | $ | 7,169 | 听 |
| Net loss margin(3) | (4.7)% | 听 | (1.2)% | ||||
| Non-GAAP adjusted EBITDA margin(4) | 听 | 8.6 | % | 听 | 听 | 8.3 | % |
| (1) | Transformation costs represent (1) expenses incurred prior to formal launch of identified strategic projects with anticipated long-term benefits to the company, generally relating to third-party professional fees and non-capitalizable technology costs tied directly to the identified projects, and (2) severance costs associated with the reorganization of our teams in connection with the identified projects. |
| (2) | Adjustments to other income, net reflect non-cash changes in the fair value of warrants liability included in other income, net on our Condensed Consolidated Statements of Operations and Comprehensive Loss. |
| (3) | Net loss margin is calculated by dividing net loss by revenues reported on our Condensed Consolidated Statements of Operations and Comprehensive Loss for the applicable period. |
| (4) | Non- GAAP adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenues reported on our Condensed Consolidated Statements of Operations and Comprehensive Loss for the applicable period. |
| 听 | 听 |
Revenues
Revenues from our offerings of products and services are as follows:
| 听 | Three Months Ended March 31, | 听 | 听 | 听 | 听 | |||||||||||||
| (In thousands) | 2025 (Unaudited) | 听 | % of Revenue | 听 | 2024 (Unaudited) | 听 | % of Revenue | 听 | $ Variance | 听 | % Variance | |||||||
| Content & Ad Measurement | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||
| Syndicated Audience (1) | $ | 63,504 | 听 | 74.1 | % | 听 | $ | 64,600 | 听 | 74.4 | % | 听 | $ | (1,096 | ) | 听 | (1.7)% | |
| Cross-Platform | 听 | 9,662 | 听 | 11.3 | % | 听 | 听 | 8,020 | 听 | 9.3 | % | 听 | 听 | 1,642 | 听 | 听 | 20.5 | % |
| Total Content & Ad Measurement | 听 | 73,166 | 听 | 85.4 | % | 听 | 听 | 72,620 | 听 | 83.7 | % | 听 | 听 | 546 | 听 | 听 | 0.8 | % |
| Research & Insight Solutions | 听 | 12,543 | 听 | 14.6 | % | 听 | 听 | 14,175 | 听 | 16.3 | % | 听 | 听 | (1,632 | ) | 听 | (11.5)% | |
| Total revenues | $ | 85,709 | 听 | 100.0 | % | 听 | $ | 86,795 | 听 | 100.0 | % | 听 | $ | (1,086 | ) | 听 | (1.3)% | |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||
| (1) Syndicated Audience revenue includes revenue from our movies business, which grew from | ||||||||||||||||||
1 Adjusted EBITDA and adjusted EBITDA margin are non-GAAP measures defined in the "First Quarter Summary Results" section and are reconciled to net income (loss) and net income (loss) margin in the addendum of this release. Beginning this quarter and for comparable prior periods, adjusted EBITDA is presented excluding the impact of foreign currency transactions, as described below.
FAQ
What were Comscore's (SCOR) Q1 2025 revenue and earnings?
How did Comscore's Cross-Platform segment perform in Q1 2025?
What is Comscore's revenue guidance for full-year 2025?
What was Comscore's adjusted EBITDA in Q1 2025?
What is Comscore's debt situation as of March 31, 2025?
