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- **Revenue Turnaround**: Q3 2025 marks first YoY growth (+1%) since merger, with sequential momentum building.
- **AI-Driven Growth**: 2-3x higher conversion rates from AI answer engines, validating focus on quality, expert content.
- **Market Expansion**: $20 billion addressable market with 2.5% penetration; targeting channel partners (70% of tech value chain).
- **Operational Efficiency**: 9% YoY EBITDA growth to $34.2 million, despite $77M non-cash impairment.
- **Q4 Outlook**: 15% sequential revenue growth (vs 10% historical norm) driven by Canalys Forums events.

**【CEO Opening Remarks】**
- **Revenue Growth**: Q3 2025 revenue of $122 million (+1% YoY), reversing Q1 (-5.8%) and Q2 (-1.6%) declines, driven by strategic initiatives.
- **Market Position**: $20 billion addressable market with 2.5% market share, targeting growth through AI, cybersecurity, and channel markets.
- **Strategic Focus**: 4 pillars - go-to-market on largest clients, product innovation (e.g., unified Omdia platform), operational efficiency, and AI-driven audience engagement.
- **AI Integration**: Launching conversational AI interfaces for market data and audience engagement, with 77,000+ AI answer engine citations in Q3.
- **Operational Momentum**: Adjusted EBITDA up 9% YoY to $34.2 million, despite $77 million net loss due to non-cash impairment.

**【Q&A Highlights】**
- **AI Traffic Impact**: 2-3x higher conversion rates from AI answer engines vs traditional SEO, reflecting higher-quality traffic.
- **Revenue Seasonality**: Q4 2025 expected to grow ~15% sequentially (vs ~10% historical norm) due to Canalys Forums event revenue.
- **Customer Expansion**: Focused on 150-200 largest clients, achieving 40%+ intent data growth via unified portal, with longer-term contracts and higher deal sizes.
- **Acquisition Strategy**: No immediate tuck-in M&A plans; prioritizing integration of existing assets.
- **Sales Cycle Stability**: No material changes in sales cycle duration or deal size amid year-end budgeting.

TTGT

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