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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.

TechTarget, Inc. (TTGT) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

TTGT

TTGT fundamentals

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