Teads Holding Co. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Teads Holding Co. 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	687	767	1,016	992	936	890	1,300
Cost of revenue	546	602	775	799	751	698	871
Gross profit	142	165	240	193	185	192	429
Research and development	26.4	29	39.2	40.3	36	37	43.6
Selling and marketing	78.9	77.6	95.8	109	96	96.9	277
General and administrative	51	48.4	70.7	57.1	57.9	70.1	124
Operating expenses	156	155	206	206	193	205	828
Operating income	-14.6	10.2	34.6	-13.5	-8.64	-12.6	-399
Interest expense	0.6	0.83	3.96	7.63	5.39	3.65	75.1
Other non-operating income	-0.45	-2.53	-49.1	-5.03	25	14.3	-78.7
Pre-tax income	-15	7.65	-14.5	-18.6	16.4	1.7	-478
Income tax	5.48	3.29	-25.5	6.01	6.11	2.42	39.4
Net income	-20.5	4.36	11	-24.6	10.2	-0.71	-517
EBITDA	-8.34	16.8	42.1	-2.42	-1.72	-6.33	-390
EPS, basic	-1.34	0.10	0.31	-0.44	0.20	-0.01	-5.69
EPS, diluted	-1.34	0.08	0.20	-0.44	-0.06	-0.11	-5.69
Shares, basic (weighted)	15.3	16.8	35.2	55.6	50.9	49.3	90.9
Shares, diluted (weighted)	15.3	20.2	53.9	55.6	57	52.7	90.9

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	49.6	93.6	455	106	70.9	89.1	128
Short-term investments			0	167	94.3	77	10.5
Receivables		165	193	181	189	149	342
Other current assets		18.3	27.9	46.8	47.2	27.8	49.3
Total current assets		277	676	501	402	343	530
Property, plant and equipment		24.8	28	39.9	42.5	45.3	51
Lease right-of-use assets			0	11.1	12.1	15	28.8
Goodwill		32.9	32.9	63.1	63.1	63.1	281
Intangible assets		9.81	5.72	24.6	20.4	16.9	377
Long-term investments			0	78.8	65.8	0	0
Other non-current assets		8.82	20.3	27.6	20.7	25	21.9
Total assets		356	796	781	665	549	1,328
Accounts payable		118	161	148	151	207	259
Accrued liabilities		23	23.3	19.7	18.6	19.4	40.2
Deferred revenue		5.51	4.78	6.7	8.49	6.93	14.9
Short-term debt						0	17.6
Total current liabilities		257	288	300	298	289	484
Lease liabilities			0	8.45	9.22	11.8	21.7
Other non-current liabilities		17.1	14.6	18.8	16.7	5.72	13.5
Total liabilities		274	539	563	442	318	1,233
Total debt		0	236	236	118	0	605
Paid-in capital		95.1	435	456	469	485	686
Retained earnings		-168	-157	-179	-169	-169	-687
Treasury stock		-2.35	-16.5	-49.2	-67.7	-74.3	-0.53
Other comprehensive income		-4.29	-4.47	-9.91	-9.05	-9.48	96.7
Shareholders' equity	-89.7	-79.8	257	218	223	231	95.4
Total equity	-89.7	-79.8	257	218	223	231	95.4
Total liabilities and equity		356	796	781	665	549	1,328
Shares outstanding		17.2	56.7	52.2	49.7	50.1	96

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-20.5	4.36	11	-24.6	10.2	-0.71	-517
Depreciation and amortization	6.25	6.64	7.5	11.1	6.92	6.31	9.21
Stock-based compensation	3.88	3.59	26.3	11.7	12.1	15.5	13.7
Deferred income tax	-0.14	-2.26	-31.8	-3.85	-4.31	-5.1	27.6
Change in receivables	4.8	-24.1	-31.5	5.28	-12.9	35.9	25.9
Change in payables	-25.4	31.4	43
Cash from operations	16.7	53	56.8	3.81	13.7	68.6	7.61
Capital expenditures	-2.45	-1.51	-9.74	-13.4	-10.1	-7.38	-5.61
Acquisitions		0	0	-45.2	-0.39	-0.18	-598
Purchases of investments		0	0	-262	-132	-90.6	-23.5
Sales and maturities of investments		0	0	15.5	81.7	53	22.5
Cash from investing	-7.59	-9.42	-20.1	-318	69.6	67.2	-554
Debt issued	0	0	200	0	0
Debt repaid			0	0	-96.2	-110	-7.67
Share buybacks		-0.28	-14.2	-32.7	-18.5	-6.6	-0.65
Cash from financing	-3.66	-4.23	326	-31.7	-117	-118	585
Exchange rate effect	0.06	4.75	-1.03	-4.04	-1	0.63	1.22
Net change in cash	5.56	44.1	362	-350	-34.7	18.6	40
Free cash flow	14.3	51.5	47	-9.56	3.62	61.2	2
Interest paid	0.55	0.76	0.59	7.46	6.03	4.32	35
Income taxes paid	5.49	2.64	6.74	6.89	8.6	10.3	23.8

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 $0.44 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.2%	Gross profit / revenue.
Operating margin	-31.9%	Operating income / revenue.
EBITDA margin	-31.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-38.0%	Pre-tax income / revenue.
Net margin	-43.3%	Net income / revenue.
FCF margin	-3.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-3.5%	Cash from operations / revenue.
Return on equity (ROE)	-7,197.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-45.5%	Net income / average total assets.
Return on invested capital (ROIC)	-58.5%	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	3.1%	Research and development expense / revenue.
Stock-based pay / revenue	0.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.3%	Capital expenditures / revenue.
D&A / revenue	0.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	46.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	123.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	30.6%	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	21.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-88.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	25.9%	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	-32.2%	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	-96.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-47.8%	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	-58.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-24.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	141.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	19.3%	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	30.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	72.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	17.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	35.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.98x	Current assets / current liabilities.
Quick ratio	0.90x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.22x	(Cash + short-term investments) / current liabilities.
Debt / equity	82.6x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	52.3%	Total debt / total assets.
Liabilities / assets	99.4%	Total liabilities / total assets.
Net debt	$516.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-5.62x	Operating income / interest expense.
Working capital	-$6.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	53.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$609.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.05x	Revenue / average total assets.
Fixed asset turnover	22.5x	Revenue / average property, plant and equipment.
Receivables turnover	4.33x	Revenue / average receivables.
Days sales outstanding	84 days	365 x average receivables / revenue.
Days payables	96 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$5.44	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	$12.55	Revenue / diluted weighted shares.
FCF per share	-$0.47	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.43	Cash from operations / diluted weighted shares.
Book value per share	$0.07	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$6.21	Tangible book value / shares outstanding.
Cash per share	$0.93	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$43.4M	Share price x shares outstanding.
Enterprise value	$559.8M	Market cap + total debt - cash - short-term investments.
P/S	0.04x	Market cap / revenue.
P/B	5.91x	Market cap / shareholders' equity. Only when equity is positive.
EV/Sales	0.46x	Enterprise value / revenue.
FCF yield	-104.9%	Free cash flow / market cap.
Earnings yield	-1,218.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.5%	(Dividends paid + share buybacks) / market cap.

What was Teads Holding Co.'s revenue in fiscal 2025?

Teads Holding Co. reported revenue of $1.30B for fiscal 2025, 46.1% higher than the year before.

Was Teads Holding Co. profitable in fiscal 2025?

No. It reported a net loss of $517.1M.

How much free cash flow did Teads Holding Co. generate in fiscal 2025?

Cash from operations of $7.6M minus capital expenditures of $5.6M left free cash flow of $2.0M.

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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