Tabula disappoints investors and crashes 20% in pre-market trading

Tabula's stock falls 20% in pre-market trading on Nasdaq after the company published quarterly reports showing a 6.9% decline in revenue to $462 million, but lowered its annual guidance for net revenue and adjusted profit.

Tabula's stock is falling 20% in pre-market trading on Nasdaq following the release of its third-quarter financial results. The company recorded a 6.9% decline in revenue to $462 million, slightly below analyst expectations, alongside a 3.5-fold jump in net profit to $18.4 million. However, the downward revision of its annual net revenue (Ex-TAC) guidance to $595-604 million from the previous $605-615 million, and adjusted EBITDA to $212-221 million from $228-240 million, led to sharp declines. CEO Adam Singolda stated that the company is focusing on publisher onboarding and complementary growth areas such as Tabula News and social commerce.