Taboola.com Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Taboola.com Ltd. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,094	1,189	1,378	1,401	1,440	1,766	1,912
Cost of revenue	862	869	937	937	1,014	1,232	1,343
Gross profit	232	319	441	464	426	534	570
Research and development	84.7	99.4	118	129	136	142	148
Selling and marketing	130	134	206	247	246	269	275
General and administrative	36.5	60.1	130	102	107	97.3	102
Operating expenses	252	293	454	478	489	508	525
Operating income	-19.6	26.2	-13.3	-13.7	-63.7	25.9	44.1
Pre-tax income	-23	23.4	-1.97	-4.45	-76.5	13.9	32.8
Income tax	5	14.9	23	7.52	5.5	17.7
Net income	-28	8.49	-24.9	-12	-82	-3.76	42.3
EBITDA	16.3	57.6	16.8	14	-31.1	63.3	73.3
EPS, basic	-1.11	-0.36	-0.26	-0.05	-0.24	-0.01	0.14
EPS, diluted	-1.11	-0.36	-0.26	-0.05	-0.24	-0.01	0.13
Shares, basic (weighted)	44.3	40.3	143	254
Shares, diluted (weighted)	44.3	40.3	143	254

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	86.9	243	319	166	176	227	121
Short-term investments			0	96.9	5.73	3.78	0
Receivables		158	245	257	306	370	360
Other current assets		3.9	15.3	7.26	9.35	4.84	6.12
Total current assets		426	629	594	559	656	558
Property, plant and equipment		52.9	63.3	73	72.2	69.4	95.3
Lease right-of-use assets		68.1	65.1	66.8	61.7	59	79.2
Goodwill	19.2	19.2	550	556	556	556	556
Intangible assets		3.91	251	189	125	65.1	13.9
Total assets		580	1,597	1,530	1,708	1,719	1,610
Accounts payable		189	260	248	282	309	331
Accrued liabilities		9.6	12.6	12.9	20.8	30.7	28.5
Deferred revenue		24.8	24.3	23.8	15	10.6	10.1
Total current liabilities		300	401	368	424	486	521
Long-term debt						116	102
Lease liabilities		63	61.5	57.9	49.5	42.6	61.4
Other non-current liabilities				5	14.2	13.3	16.9
Total liabilities		534	830	695	651	667	703
Total debt						116	102
Paid-in capital		78.1	824	904	1,262	1,336	1,404
Retained earnings		-31.5	-56.4	-68.4	-150	-154	-112
Treasury stock				0	-55.5	-130	-386
Other comprehensive income			0	-0.83	0.94	0.42	0.53
Shareholders' equity	7.27	46.6	768	835	1,057	1,052	907
Total equity	7.27	46.6	768	835	1,057	1,052	907
Total liabilities and equity		580	1,597	1,530	1,708	1,719	1,610
Shares outstanding		41.4	234	254	296

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-28	8.49	-24.9	-12	-82	-3.76	42.3
Depreciation and amortization	35.9	31.4	30.1	27.7	32.6	37.3	29.2
Stock-based compensation	8.25	28.3	128	74.9	64.3	67.1	63.9
Deferred income tax	-0.35	-1.72	-0.65	-15.8	-15.5	-9.32	-26.9
Change in receivables	-15.3	-3.29	-40.1	-11.2	-49.6	-63.8	9.94
Cash from operations	18.1	139	63.5	53.5	84.4	184	208
Capital expenditures	-44.3	-17.8	-39.1	-34.9	-32.1	-35.2	-44.9
Acquisitions	-3.97	-0.2	-583	-7.98	0	-0.72	0
Purchases of investments		0	0	-126	-22	0	0
Cash from investing	-47.5	10.9	-620	-140	59.6	-30.1	-40.9
Debt issued	0	0	289	0	0
Debt repaid		0	-0.75	-64.3	-82.3	-30	-123
Stock issued	0	0	285	0	0	7.56	8.85
Share buybacks			0	0	-55.5	-73.6	-255
Cash from financing	0.99	2.6	631	-62.9	-135	-100	-277
Exchange rate effect	0.45	3.32	2.32	-4.48	0.82	-3.76	4.17
Net change in cash	-28	156	76.5	-153	10.2	50.5	-106
Free cash flow	-26.3	121	24.5	18.6	52.2	149	163
Interest paid	0	0.72	1.13	20.7	18.5	14.3	5.58
Income taxes paid	7.95	9.98	15.5	28.8	18	19.9	29.7

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $3.48 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	29.7%	Gross profit / revenue.
Operating margin	6.5%	Operating income / revenue.
EBITDA margin	9.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	6.2%	Pre-tax income / revenue.
Net margin	6.1%	Net income / revenue.
FCF margin	10.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	12.9%	Cash from operations / revenue.
Return on equity (ROE)	12.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.7%	Net income / average total assets.
Return on invested capital (ROIC)	11.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	7.8%	Research and development expense / revenue.
Stock-based pay / revenue	3.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.6%	Capital expenditures / revenue.
D&A / revenue	3.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	8.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	7.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	12.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	70.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	11.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	15.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	73.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	4.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 5y	37.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	13.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	57.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	9.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	106.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	6.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-13.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	81.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-6.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	22.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.11x	Current assets / current liabilities.
Quick ratio	0.96x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.28x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.08x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	4.7%	Total debt / total assets.
Liabilities / assets	39.4%	Total liabilities / total assets.
Net debt	-$61.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.32x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$50.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	36.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$379.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.27x	Revenue / average total assets.
Fixed asset turnover	18.7x	Revenue / average property, plant and equipment.
Receivables turnover	6.20x	Revenue / average receivables.
Days sales outstanding	59 days	365 x average receivables / revenue.
Days payables	73 days	365 x average accounts payable / cost of revenue.
FCF conversion	169.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	20.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.00	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$0.01	Revenue / diluted weighted shares.
FCF per share	$0.00	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.00	Cash from operations / diluted weighted shares.
Book value per share	$0.00	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.00	Tangible book value / shares outstanding.
Cash per share	$0.00	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	84.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$877.4M	Share price x shares outstanding.
Enterprise value	$816.3M	Market cap + total debt - cash - short-term investments.
P/E	7.39x	Market cap / net income. Only when net income is positive.
P/S	0.45x	Market cap / revenue.
P/B	0.94x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.31x	Market cap / tangible book value, when positive.
P/FCF	4.37x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.47x	Market cap / cash from operations, when positive.
EV/Sales	0.42x	Enterprise value / revenue.
EV/EBIT	6.43x	Enterprise value / operating income, when both are positive.
EV/EBITDA	4.23x	Enterprise value / EBITDA, when both are positive.
EV/FCF	4.07x	Enterprise value / free cash flow, when both are positive.
FCF yield	22.9%	Free cash flow / market cap.
Earnings yield	13.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	19.3%	(Dividends paid + share buybacks) / market cap.

What was Taboola.com Ltd.'s revenue in fiscal 2025?

Taboola.com Ltd. reported revenue of $1.91B for fiscal 2025, 8.3% higher than the year before.

Was Taboola.com Ltd. profitable in fiscal 2025?

Yes. Net income was $42.3M, a net margin of 2.2%.

How much free cash flow did Taboola.com Ltd. generate in fiscal 2025?

Cash from operations of $208.4M minus capital expenditures of $44.9M left free cash flow of $163.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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