IAS reported other third quarter 2021 financial highlights as:

• Advertiser direct revenue was $34.4 million, a 15% increase compared to $30.0 million in the prior-year period.
• Programmatic revenue was $33.7 million, a 49% increase compared to $22.6 million in the prior-year period.
• Supply side revenue increased to $10.8 million which includes a partial quarter contribution from Publica, compared to $7.3 million in the prior-year period.
• International revenue, excluding the Americas, was $28.7 million, a 25% increase compared to $22.9 million in the prior-year period, or 36% of total revenue for the third quarter of 2021.
• Gross profit was $65.2 million, a 31% increase compared to $49.8 million in the prior-year period. Gross profit margin was 82% for the third quarter of 2021.
• Net loss was $9.8 million, or $0.06 per share, compared to a net loss of $4.4 million, or $0.03 per share, in the prior-year-period. 
• Adjusted EBITDA increased to $25.4 million compared to $18.5 million in the prior-year period. Adjusted EBITDA* margin was 32% for the third quarter of 2021.
• Cash and cash equivalents were $63.8 million at September 30, 2021. During the third quarter, IAS replaced its existing credit facility with a new $300 million credit facility on more favorable terms.  

"We achieved impressive results in the third quarter as we deepened our partnerships with marketers, publishers, and platforms to maximize their target outcomes," said Lisa Utzschneider, CEO of IAS.

"IAS was first-to-market last year with programmatic contextual targeting solutions at scale. Even more customers adopted our Context Control offering this quarter as they prepare for a cookie-less world.

“In addition, we expect to advance our leadership in digital media quality in high-growth areas including CTV through our acquisition of Publica in the third quarter as well as in social media where we recently launched our brand safety solution for in-feed video ads on TikTok." 

"We continued to drive revenue and margin performance in the third quarter while investing in our technology and people," said Joe Pergola, CFO of IAS.

"We realised double-digit growth in the period and extended our global footprint in new and existing markets. We also strengthened our balance sheet by improving our leverage ratio with access to capital on more favorable terms. Looking forward to our fourth quarter and the holiday season, we expect to continue our business momentum as highlighted by our increased full-year outlook."