Outbrain IPO

IPO Stage
BETA

We Recommend

Analytics

Stage

IPO

Platform

Robinhood

IPO Date

07/23/2021

Method of Going Public

IPO

Expected Public Exchange

Nasdaq

Price Range

$24 - $26

Security Type

Equity - Common

Funding Type

S-1

Series

Series H

IPO Valuation

$1.3B

IPO Lead Underwriter

Citigroup, Jefferies, Barclays, Evercore

# of Acquisitions

7

Location

New York, New York

Industry

Marketing & Advertising

Tech Sector

AdTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

Low

Business Type

Growth

Outbrain, with an expected public valuation of $1.25 billion, will go public July 23, 2021. The recommendation platform is most well-known for providing the widget at the bottom of news stories that recommends other links to click on. Yaron Galai and Ori Lahav founded Outbrain in 2006 to solve the problem publishers had in replicating the print experience of turning a page to discover the next article or product on the web. Outbrain will trade under the ticker "OB" on the Nasdaq and is offering 8 million shares at a price range of $20, lower than the company's initial price range of $24 - $26.

Income Statement

Revenue

$767,142,000

Operating Expenses

Research/Technology & Development

$28,961,000

Sales & Marketing

$77,570,000

General & Administrative

$48,354,000

Total Operating Expenses

$154,885,000

Operating Income

$10,177,000

Other Income, Net

$-2,527,000

Income (Loss) Before Provision For (Benefit From) Income Taxes

$7,650,000

Provision For (Benefit From) Income Taxes

$3,293,000

Net Income (Loss)

$4,357,000

 

Net Income (Loss) Attributable to Common Stockholders:

Basic

$0.00

Diluted

$0.00

Net Income (Loss) Per Share Attributable to Common Stockholders:

Basic

$0.10

Diluted

$0.80

Weighted-Average Shares of Common Stock Used For Pro Forma:

Basic

0

Diluted

0

Balance Sheet - Assets

Current Assets

Cash and Cash Equivalents

$93,641,000

Accounts Receivable

$165,449,000

Total Current Assets

$277,416,000

Property and Equipment, Net

$24,756,000

Goodwill

$32,881,000

Intangible Assets, Net

$9,812,000

Restricted Cash

$0

Other Assets

$11,621,000

Total Assets

$356,486,000

Balance Sheet - Liabilities

Current Liabilities

Accounts Payable

$118,491,000

Accrued Expenses

$0

Other Current Liabilities

$0

Total Current Liabilities

$256,750,000

Total Liabilities

$273,855,000

Commitments and Contingencies

Convertible Preferred Stock

$162,444,000

Stockholders' (deficit) Equity

Common Stock

$17,000

Additional Paid In Capital

$92,705,000

Accumulated Other Comprehensive Income (Loss)

$-4,290,000

Total Stockholders' (Deficit) Equity

$-168,245,000

Statements of Cash Flows

Cash Flows from Operating Activites

Net Cash Provided By (Used In) Operating Activities

$52,986,000

Cash Flows from Investing Activites

Net Cash Provided By (Used In) Investing Activities

$-9,423,000

Cash Flows from Financing Activites

Net Cash Provided By (Used In) Financing Activities

$-4,228,000

Total Cash, Cash Equivalents, and Restricted Cash

$94,067,000

Financials as of: 06/29/2021
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Outbrain IPO 2021: A Startup Investor’s Guide
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Platform: Robinhood
Security Type: Equity - Common
Valuation: $1,250,000,000

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