Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data TechTarget, Inc. 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
FY2022
FY2024
FY2024
FY2025
Revenue
197
252
285
487
Cost of revenue
72.3
98.8
107
194
Gross profit
125
153
178
293
Research and development
7.94
11.1
11.4
10.8
Selling and marketing
38.8
55.3
62.6
139
General and administrative
49
66.9
79
83.1
Operating expenses
136
199
297
1,319
Operating income
-11.1
-45.4
-119
-1,026
Interest expense
24.6
Interest income
0.52
3.49
4.14
0.94
Other non-operating income
0.2
-0.88
3.31
-7.53
Pre-tax income
-21.1
-67.4
-129
-1,042
Income tax
-16.9
-9.63
-12.5
-33.4
Net income
-4.29
-57.8
-117
-1,008
EBITDA
-10.5
-44.5
-117
-1,023
EPS, basic
-0.10
-1.39
-2.65
-14.06
EPS, diluted
-0.10
-1.39
-2.65
-14.06
Shares, basic (weighted)
41.7
41.7
44.1
71.7
Shares, diluted (weighted)
41.7
41.7
44.1
71.7
Balance sheet
FY2022
FY2024
FY2024
FY2025
Cash and equivalents
10.8
276
40.6
Short-term investments
0
77.7
0
Receivables
39.8
79
83.8
Other current assets
7.22
13.5
15.6
Total current assets
166
456
155
Property, plant and equipment
3.23
4.62
2.3
Lease right-of-use assets
5.17
15.9
3.18
Goodwill
565
476
973
45.6
Intangible assets
277
809
726
Other non-current assets
0
3.12
2.01
Total assets
928
2,266
937
Accounts payable
5.05
10.6
21.2
Accrued liabilities
12.8
18.1
19
Deferred revenue
27.2
44.8
50.5
Total current liabilities
595
535
127
Lease liabilities
3.01
15.1
1.43
Other non-current liabilities
5.74
4.91
6.01
Total liabilities
982
695
343
Total debt
417
Paid-in capital
0
1,627
1,648
Retained earnings
0
-75.9
-1,084
Treasury stock
0
-0.69
Other comprehensive income
22.2
20.9
31.6
Shareholders' equity
-14.3
-54.3
1,572
595
Total equity
-14.3
-54.3
1,572
595
Total liabilities and equity
928
2,266
937
Shares outstanding
71.5
72.3
Cash flow statement
FY2022
FY2024
FY2024
FY2025
Net income
-4.29
-57.8
-117
-1,008
Depreciation and amortization
0.62
0.9
1.61
2.38
Stock-based compensation
0.91
1.2
2.4
19.1
Deferred income tax
21.1
-13.5
-16.3
-41.1
Change in receivables
0.21
7.53
-2.82
-3.7
Cash from operations
28.1
-12.5
-64.9
16.3
Capital expenditures
-0.41
-2.59
-0.42
-0.39
Acquisitions
-351
-47.8
-72.3
-1.35
Purchases of investments
0
0
-0.29
-0.29
Sales and maturities of investments
0
0
76.8
Cash from investing
-355
-57.2
-79.4
58.1
Debt repaid
-42.6
0
0
-417
Cash from financing
330
73.4
410
-311
Net change in cash
3.48
3.65
265
-235
Free cash flow
27.6
-15.1
-65.3
16
Income taxes paid
0
0
4
7.95
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 $3.83 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
59.2%
Gross profit / revenue.
Operating margin
-46.5%
Operating income / revenue.
EBITDA margin
-46.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-47.9%
Pre-tax income / revenue.
Net margin
-36.8%
Net income / revenue.
FCF margin
0.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
1.2%
Cash from operations / revenue.
Return on equity (ROE)
-35.3%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-20.9%
Net income / average total assets.
Return on invested capital (ROIC)
-38.7%
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
2.6%
Research and development expense / revenue.
Stock-based pay / revenue
3.2%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.5%
Capital expenditures / revenue.
D&A / revenue
0.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
70.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
35.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
65.1%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
33.0%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y
-16.5%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 3y
-16.8%
Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
-62.2%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-58.6%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
62.8%
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
19.9%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.15x
Current assets / current liabilities.
Quick ratio
0.93x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.37x
(Cash + short-term investments) / current liabilities.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$2.47
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
$6.71
Revenue / diluted weighted shares.
FCF per share
$0.05
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.08
Cash from operations / diluted weighted shares.
Book value per share
$7.01
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.57x
Market cap / revenue.
P/B
0.55x
Market cap / shareholders' equity. Only when equity is positive.
P/FCF
77.9x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
46.7x
Market cap / cash from operations, when positive.
EV/Sales
0.48x
Enterprise value / revenue.
EV/FCF
65.0x
Enterprise value / free cash flow, when both are positive.
FCF yield
1.3%
Free cash flow / market cap.
Earnings yield
-64.5%
Net income / market cap (the inverse of P/E).
What was TechTarget, Inc.'s revenue in fiscal 2025?
TechTarget, Inc. reported revenue of $486.8M for fiscal 2025, 70.9% higher than the year before.
Was TechTarget, Inc. profitable in fiscal 2025?
No. It reported a net loss of $1.01B.
How much free cash flow did TechTarget, Inc. generate in fiscal 2025?
Cash from operations of $16.3M minus capital expenditures of $387.0K left free cash flow of $16.0M.
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.