Comscore revenues fall in Q2

The financial results showed revenue for the second quarter of 2024 was at $85.8m compared with $93.7m in the same period the previous year.

This meant there was a net loss of the second quarter of $1.7m, albeit a significant improvement on the $44.9m loss registered in the same period in 2023.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) was $6.9m compared with $8.9m in the second quarter of 2023.

Content and advertising measurement revenue declined 6.7% from Q2 2023 mainly due to lower revenue from Comscore’s syndicated audience offerings, primarily related to national TV and syndicated digital products.

Research and insight solutions revenue fell16.5% from Q2 2023, primarily due to lower deliveries of custom digital products.

Our core operating expenses were $86.5m, a decrease of 6.1% compared to $92.1m in the second quarter of 2023, primarily due to a decline in employee compensation as a result of restructuring efforts and lower cloud computing costs.

After accounting for dividends on its convertible preferred stock, loss per share attributable to common shares was $( 1.19 ) and $( 10.21 ) for Q2 2024 and Q2 2023, respectively.

Comscore said that based on current trends and expectations, it has revised its guidance for full-year 2024 revenue and adjusted EBITDA, and is now expecting to end the year with revenue between $350m and $360m and an adjusted EBITDA margin of at least 10%.

Jon Carpenter, chief executive at Comscore, said: “While the second quarter fell short of our expectations, we remain confident that the direction we’re taking the company – one that is focused on delivering omnichannel measurement solutions to address the growing gaps in today’s measurement offerings – is the right one.

“The revision to our full-year estimates reflects the pace with which our turnaround is happening, not our confidence in the strategic direction we've taken.”