Outbrain Inc. (NASDAQ:OB) Q3 2023 Earnings Call Transcript

And it’s for us a significant growth driver, Onyx and video, that sort of goes together in 2024.

Ygal Arounian: Thanks, David. That’s helpful. And for Jason, given the challenges in the macro, the outlook in terms of EBITDA and profitability essentially unchanged from what it was last quarter. So, I feel like you’re maybe tracking ahead there, making a little bit more progress. Can you just give us an update on your thoughts around EBITDA and free cash flow as you kind of work your way through the rest of this year? And how you’re expecting even cost management for 2024? Thank you.

Jason Kiviat: Yeah. No, obviously, we’ve been very focused this year on a lot of what we can control, which is operating more efficiently, more effectively, having a team and just more automation and all of that. And so, we’ve been improving over the course of the year, even our outlook and actuals on the expenses with driving to positive cash, even in this environment as the goal. We did return to positive cash flow in the quarter and expect to stay positive and grow on it in Q4. Obviously, the headwinds on top-line are limiting to what’s going to happen in the short-term there, but we do expect to generate positive cash flow in Q4. And obviously, as we get to 2024, nothing to share now, but that’s still the mentality we have as we make our plans for next year, which is generating cash and obviously continuing to run as efficient and effectively as we can.

Ygal Arounian: Great. Thanks a lot, guys.

Operator: Thank you. This concludes our question-and-answer session. I’d like to turn the call back over to management for closing remarks.

Yaron Galai: Thanks, operator. We appreciate your time with us today, and we look forward to updating you again in the next quarter. Until then, we wish our colleagues and friends in Israel speedy end to the war, return of the hostages, and peace to all people in the region. Thank you.

Operator: Thank you. The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.