Outbrain Inc. Due Diligence

Run due diligence on Outbrain Inc.: check compliance and get alerts when suppliers change.

United States · www.outbrain.com · 19 vendors

Outbrain Inc. is a content discovery and native advertising platform that helps businesses promote their products and services on the open web. It provides publishers with a platform to monetize their content and drive traffic through personalized recommendations and targeted advertising, leveraging AI-driven technology.

Resilience scores

Technology vendors

Services catalogue

2 services in catalogue across 2 categories; runs on 19 sub-vendors.

Insights

Last updated 2026-08-16 · revision 1

19 direct vendors, 181 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

10 in-scope frameworks identified; showing 3.

US State Privacy Laws — Evidence found

Evidence: https://www.outbrain.com/privacy/

ISAE 3000 (source) — No public evidence

Evidence: https://www.outbrain.com/security

SOC 2 (source) — No public evidence

Evidence: https://www.outbrain.com/security, https://www.outbrain.com/trust-and-transparency/

Financials

Three-year financials

Financial Resilience Score: 6/10

Outbrain demonstrates moderate financial resilience underpinned by a strong pre-deal net-cash balance sheet (~$475–505M in cash and investments with no material debt), consistently positive Adjusted EBITDA (~$40–62M annually), and positive free cash flow through the ad market downturn. This cash position was rare among ad-tech peers of its size and provided the firepower for the transformative Teads acquisition completed in February 2025. However, resilience is tempered by chronic GAAP operating losses across all three reported years, periodic goodwill/intangible impairments, and revenue stagnation since the 2021 peak of ~$1.01B. The company's economics are constrained by high traffic-acquisition costs (~75%+ of revenue) and publisher concentration risk, where a single large publisher renewal can materially move revenue. The Teads acquisition (~$725M cash plus ~35M shares plus new term debt) fundamentally changes the risk profile: the combined group now has pro-forma revenue >$1.8B and greater product diversification (video/CTV plus native/performance), but carries meaningful leverage, integration, and execution risk. Regulatory headwinds (cookie deprecation, EU DMA/DSA, U.S. state privacy laws) and cyclical digital-advertising exposure, especially in EMEA, remain structural challenges.

Key strengths: Strong pre-deal net-cash balance sheet (~$475–505M cash/investments, no material debt), Consistently positive Adjusted EBITDA (~$40–62M) and free cash flow through ad downturn, Long-term exclusive placements on thousands of premium publisher properties globally, Post-Teads combined pro-forma revenue >$1.8B with broader product mix (video/CTV + native/performance), No single advertiser accounts for >10% of revenue

Risk factors: Chronic GAAP operating losses in each of the last three years, Periodic goodwill/intangible impairments, Publisher concentration risk and high TAC economics (~75%+ of revenue), Cyclical digital-advertising exposure, particularly in EMEA, Integration, leverage, and execution risk from Teads acquisition (~$725M cash + shares + new debt), Regulatory/privacy headwinds (cookie deprecation, EU DMA/DSA, U.S. state privacy laws), Stock traded well below 2021 IPO price of $20 in 2023–2024, Revenue plateau since 2021 peak of ~$1.01B

Revenue by geography

Revenue by product/service

Workforce by country

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