Revenue of $92.8 million, up 0.3% from Q3 2021

Net loss of $52.4 million versus net income of $2.0 million in Q3 2021

Adjusted EBITDA of $11.7 million, up 4.0% from Q3 2021

Updating 2022 revenue guidance and maintaining adjusted EBITDA margin guidance

Comscore, Inc. (Nasdaq: SCOR), a trusted partner for planning, transacting, and evaluating media across platforms, today reported financial results for the quarter ended September 30, 2022.

Q3 2022 Financial Highlights

  • Revenue for the third quarter was $92.8 million compared to $92.5 million in Q3 2021
  • Cross Platform Solutions revenue grew 14.0% year over year to $40.4 million, driven by local and national TV measurement and a continued rebound in Movies
  • Digital Ad Solutions revenue declined 8.2% to $52.4 million due to slower ad spend, which impacted Activation and other digital products
  • Net loss of $52.4 million compared to net income of $2.0 million in Q3 2021, resulting primarily from a non-cash goodwill impairment charge of $46.3 million and restructuring costs of $5.8 million in Q3 2022
  • Adjusted EBITDA of $11.7 million compared to $11.3 million in Q3 2021

Recent Business Developments

  • Launched Comscore TV Pulse, which provides content measurement data within 48 hours nationally and to all 210 local markets
  • Entered into two new currency partnerships – one with Dentsu that enables the agency network to shift local TV buying to a Comscore-based currency, supporting transactions on advanced audiences in all 210 markets, and the other with Fox Television Stations, which allows the local TV broadcaster to leverage a Comscore-based currency to support transactions on advanced audiences across its entire owned and operated footprint
  • Expanded a multiyear contract with Scripps, which now includes using Comscore as currency for all Scripps local stations, adding 16 new markets to our existing relationship
  • Partnered with FreeWheel to launch advanced Connected TV ("CTV") contextual targeting capabilities on Beeswax, FreeWheel's demand-side platform, which provides media buyers with access to Comscore's privacy-forward Predictive Audiences and CTV brand protection offering for premium video
  • Released a new user interface for Comscore Campaign Ratings, which is now the only cross-platform campaign measurement product in the market that can provide deduplicated reach for display and video across desktop, mobile, linear, and CTV in a single report
  • Extended Charter's endorsement of Comscore as its preferred local measurement provider to seven years (from five) with an option to extend for the full 10-year contract term

"Since stepping into the CEO role in July, I’ve been laser focused on improving speed, execution and profitability. In the third quarter, we rounded out our executive team with leadership positions that I believe are critical to the success of Comscore. We committed to delivering faster data to our customers, and in September we rolled out our Comscore TV Pulse data with a delivery speed of 48 hours. We also announced a restructuring plan as a first step in becoming more cost efficient and better aligning our operating structure and resources to our strategic priorities. We continue to see momentum in our local and national television businesses, and even though the current economic environment is challenging for our industry, we are excited about what's ahead for Comscore," said Jon Carpenter, CEO of Comscore.

Third Quarter Summary Results

Revenue in the third quarter was $92.8 million, up 0.3% from $92.5 million in Q3 2021, driven by double-digit growth in Cross Platform Solutions revenue from local and national TV measurement and the continued rebound in our Movies business. We saw a decline in Digital Ad Solutions revenue from Q3 2021 primarily as a result of slower ad spend, which impacted Activation and other digital products.

Our core operating expenses, which include cost of revenues, sales and marketing, research and development and general and administrative expenses, were $90.4 million, flat to $90.3 million in Q3 2021. We also incurred restructuring costs of $5.8 million in connection with the restructuring plan announced in September 2022.

Due in part to a decline in our stock price and market capitalization, we performed an interim review of our goodwill at quarter-end, resulting in a non-cash goodwill impairment charge of $46.3 million as of September 30, 2022. This charge does not directly impact the Company's liquidity, cash flows, or future operations.

Primarily due to the goodwill impairment charge and restructuring costs, net loss for the quarter was $52.4 million, compared to net income of $2.0 million in Q3 2021. After accounting for dividends on our convertible preferred stock, loss per share attributable to common shares was $(0.60), compared to a loss per share of $(0.02) in Q3 2021.

Adjusted EBITDA for the quarter was $11.7 million, compared to $11.3 million in Q3 2021, resulting in adjusted EBITDA margins of 12.6% and 12.2%, respectively. Adjusted EBITDA and adjusted EBITDA margin exclude stock-based compensation, change in fair value of contingent consideration, financing derivatives and warrants liability, debt extinguishment costs, amortization of cloud-computing implementation costs, impairment of goodwill, restructuring costs, and other items as presented in the accompanying tables.

Balance Sheet and Liquidity

As of September 30, 2022, cash, cash equivalents and restricted cash totaled $25.5 million. Total debt principal, including $16.0 million in outstanding borrowings under our senior secured revolving credit agreement, was $20.0 million.

2022 Outlook

Based on current trends and expectations, we are lowering our 2022 revenue growth estimate to low single digits and are reaffirming that our adjusted EBITDA margin is expected to exceed 9% for the year.

We do not provide GAAP net (loss) income on a forward-looking basis because we are unable to predict with reasonable certainty our future stock-based compensation expense, fair value adjustments, variable interest expense, litigation and restructuring expense and any unusual gains or losses without unreasonable effort. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. For this reason, we are unable without unreasonable effort to provide a reconciliation of adjusted EBITDA or adjusted EBITDA margin to the most directly comparable GAAP measure, GAAP net (loss) income, on a forward-looking basis.

Conference Call Information for Today, Tuesday, November 8, 2022 at 5:00 p.m. ET

Management will host a conference call to discuss the results on Tuesday, November 8, 2022 at 5:00 p.m. ET. The live audio webcast along with supplemental information will be accessible at ir.comscore.com/events-presentations. Participants can obtain dial-in information by registering for the call at the same web address and are advised to register in advance of the call to avoid delays. Following the conference call, a replay will be available via webcast at ir.comscore.com/events-presentations.

About Comscore

Comscore is a trusted partner for planning, transacting and evaluating media across platforms. With a data footprint that combines digital, linear TV, OTT and theatrical viewership intelligence with advanced audience insights, Comscore allows media buyers and sellers to quantify their multiscreen behavior and make business decisions with confidence. A proven leader in measuring digital and TV audiences and advertising at scale, Comscore is the industry's emerging, third-party source for reliable and comprehensive cross-platform measurement.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal and state securities laws, including, without limitation, our expectations, forecasts, plans and opinions regarding expected revenue growth and adjusted EBITDA margin for future periods, the impact of new customer contracts and partnerships on our business and revenue prospects, evolving economic and industry trends, currency opportunities, product development and innovation, and restructuring plans and cost-reduction initiatives. These statements involve risks and uncertainties that could cause actual events to differ materially from expectations, including, but not limited to, changes in our business and customer, partner and vendor relationships; external market conditions and competition, including changes or declines in ad spending; evolving privacy and regulatory standards; the continuing impact of the Covid-19 pandemic and related government mandates; and our ability to achieve our expected strategic, financial and operational plans, including the restructuring plan we announced in September 2022. For additional discussion of risk factors, please refer to our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other filings that we make from time to time with the U.S. Securities and Exchange Commission (the "SEC"), which are available on the SEC's website (www.sec.gov).

Investors are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. We do not intend or undertake, and expressly disclaim, any duty or obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this press release, or to reflect the occurrence of unanticipated events.

Use of Non-GAAP Financial Measures

To provide investors with additional information regarding our financial results, we are disclosing herein adjusted EBITDA and adjusted EBITDA margin, which are non-GAAP financial measures used by our management to understand and evaluate our core operating performance and trends. We believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results, as they permit our investors to view our core business performance using the same metrics that management uses to evaluate our performance. Nevertheless, our use of these non-GAAP financial measures has limitations as an analytical tool, and investors should not consider these measures in isolation or as a substitute for analysis of our results as reported under GAAP. Instead, you should consider these measures alongside GAAP-based financial performance measures, net (loss) income, various cash flow metrics, and our other GAAP financial results. Set forth below are reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measure, net (loss) income. These reconciliations should be carefully evaluated.

COMSCORE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

As of

 

As of

 

September 30, 2022

 

December 31, 2021

(In thousands, except share and par value data)

(Unaudited)

 

 

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

25,086

 

 

$

21,854

 

Restricted cash

 

425

 

 

 

425

 

Accounts receivable, net of allowances of $677 and $1,173, respectively

 

48,223

 

 

 

72,059

 

Prepaid expenses and other current assets

 

15,207

 

 

 

14,769

 

Total current assets

 

88,941

 

 

 

109,107

 

Property and equipment, net

 

36,661

 

 

 

36,451

 

Operating right-of-use assets

 

25,422

 

 

 

29,186

 

Deferred tax assets

 

2,636

 

 

 

2,811

 

Intangible assets, net

 

19,622

 

 

 

39,945

 

Goodwill

 

386,245

 

 

 

435,711

 

Other non-current assets

 

11,546

 

 

 

10,263

 

Total assets

$

571,073

 

 

$

663,474

 

Liabilities, Convertible Redeemable Preferred Stock and Stockholders' Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

28,763

 

 

$

23,575

 

Accrued expenses

 

41,642

 

 

 

45,264

 

Contract liabilities

 

52,564

 

 

 

54,011

 

Customer advances

 

10,633

 

 

 

11,613

 

Current operating lease liabilities

 

7,667

 

 

 

7,538

 

Warrants liability

 

2,049

 

 

 

10,520

 

Other current liabilities

 

12,321

 

 

 

12,850

 

Total current liabilities

 

155,639

 

 

 

165,371

 

Non-current operating lease liabilities

 

31,184

 

 

 

36,055

 

Non-current portion of accrued data costs

 

23,230

 

 

 

16,005

 

Revolving line of credit

 

16,000

 

 

 

16,000

 

Deferred tax liabilities

 

2,145

 

 

 

2,103

 

Other non-current liabilities

 

13,035

 

 

 

16,879

 

Total liabilities

 

241,233

 

 

 

252,413

 

Commitments and contingencies

 

 

 

Convertible redeemable preferred stock, $0.001 par value; 82,527,609 shares authorized, issued and outstanding as of September 30, 2022 and December 31, 2021; aggregate liquidation preference of $207,953 as of September 30, 2022, and $211,863 as of December 31, 2021

 

187,885

 

 

 

187,885

 

Stockholders' equity:

 

 

 

Preferred stock, $0.001 par value; 7,472,391 shares authorized as of September 30, 2022 and December 31, 2021, respectively; no shares issued or outstanding as of September 30, 2022 or December 31, 2021

 

 

 

 

 

Common stock, $0.001 par value; 275,000,000 shares authorized as of September 30, 2022 and December 31, 2021; 98,774,405 shares issued and 92,009,609 shares outstanding as of September 30, 2022, and 97,172,086 shares issued and 90,407,290 shares outstanding as of December 31, 2021

 

92

 

 

 

90

 

Additional paid-in capital

 

1,690,609

 

 

 

1,683,883

 

Accumulated other comprehensive loss

 

(21,736

)

 

 

(12,098

)

Accumulated deficit

 

(1,297,026

)

 

 

(1,218,715

)

Treasury stock, at cost, 6,764,796 shares as of September 30, 2022 and December 31, 2021

 

(229,984

)

 

 

(229,984

)

Total stockholders' equity

 

141,955

 

 

 

223,176

 

Total liabilities, convertible redeemable preferred stock and stockholders' equity

$

571,073

 

 

$

663,474

 

COMSCORE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

(Unaudited)

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

(In thousands, except share and per share data)

2022

 

2021

 

2022

 

2021

Revenues

$

92,783

 

 

$

92,487

 

 

$

278,183

 

 

$

270,476

 

 

 

 

 

 

 

 

 

Cost of revenues (1) (2)

 

51,530

 

 

 

49,179

 

 

 

155,915

 

 

 

153,267

 

Selling and marketing (1) (2)

 

17,199

 

 

 

15,212

 

 

 

51,850

 

 

 

49,569

 

Research and development (1) (2)

 

8,741

 

 

 

9,051

 

 

 

28,190

 

 

 

29,536

 

General and administrative (1) (2)

 

12,899

 

 

 

16,895

 

 

 

48,119

 

 

 

45,609

 

Amortization of intangible assets

 

6,772

 

 

 

6,172

 

 

 

20,323

 

 

 

18,866

 

Restructuring

 

5,784

 

 

 

 

 

 

5,784

 

 

 

 

Impairment of goodwill

 

46,300

 

 

 

 

 

 

46,300

 

 

 

 

Total expenses from operations

 

149,225

 

 

 

96,509

 

 

 

356,481

 

 

 

296,847

 

Loss from operations

 

(56,442

)

 

 

(4,022

)

 

 

(78,298

)

 

 

(26,371

)

Other income (expense), net

 

1,477

 

 

 

5,713

 

 

 

8,467

 

 

 

(9,069

)

Gain from foreign currency transactions

 

2,781

 

 

 

1,180

 

 

 

5,728

 

 

 

1,884

 

Interest expense, net

 

(284

)

 

 

(169

)

 

 

(660

)

 

 

(7,569

)

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

 

 

(9,629

)

(Loss) income before income taxes

 

(52,468

)

 

 

2,702

 

 

 

(64,763

)

 

 

(50,754

)

Income tax benefit (provision)

 

86

 

 

 

(722

)

 

 

(1,945

)

 

 

(2,166

)

Net (loss) income

$

(52,382

)

 

$

1,980

 

 

$

(66,708

)

 

$

(52,920

)

Net loss available to common stockholders:

 

 

 

 

 

 

 

Net (loss) income

$

(52,382

)

 

$

1,980

 

 

$

(66,708

)

 

$

(52,920

)

Convertible redeemable preferred stock dividends

 

(3,910

)

 

 

(3,910

)

 

 

(11,603

)

 

 

(8,713

)

Total net loss available to common stockholders:

$

(56,292

)

 

$

(1,930

)

 

$

(78,311

)

 

$

(61,633

)

Net loss per common share:

 

 

 

 

 

 

 

Basic and diluted

$

(0.60

)

 

$

(0.02

)

 

$

(0.85

)

 

$

(0.77

)

Weighted-average number of shares used in per share calculation - Common Stock:

 

 

 

 

 

 

 

Basic and diluted

 

93,347,017

 

 

 

82,185,009

 

 

 

92,380,984

 

 

 

79,951,857

 

Comprehensive (loss) income:

 

 

 

 

 

 

 

Net (loss) income

$

(52,382

)

 

$

1,980

 

 

$

(66,708

)

 

$

(52,920

)

Other comprehensive loss:

 

 

 

 

 

 

 

Foreign currency cumulative translation adjustment

 

(4,553

)

 

 

(1,917

)

 

 

(9,638

)

 

 

(3,337

)

Total comprehensive (loss) income

$

(56,935

)

 

$

63

 

 

$

(76,346

)

 

$

(56,257

)

 

 

 

 

 

 

 

 

(1) Excludes amortization of intangible assets, which is presented as a separate line item.

(2) Stock-based compensation expense is included in the line items above as follows:

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2022

 

2021

 

2022

 

2021

Cost of revenues

$

155

 

 

$

231

 

 

$

877

 

 

$

1,554

 

Selling and marketing

 

132

 

 

 

208

 

 

 

804

 

 

 

1,679

 

Research and development

 

116

 

 

 

170

 

 

 

627

 

 

 

1,162

 

General and administrative

 

1,013

 

 

 

2,425

 

 

 

4,906

 

 

 

6,761

 

Total stock-based compensation expense

$

1,416

 

 

$

3,034

 

 

$

7,214

 

 

$

11,156

 

COMSCORE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

Nine Months Ended September 30,

(In thousands)

2022

 

2021

Operating activities:

 

 

 

Net loss

$

             (66,708

)

 

$

             (52,920

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

 

 

 

Amortization of intangible assets

 

                 20,323

 

 

 

                 18,866

 

Depreciation

 

                 12,542

 

 

 

                 11,873

 

Stock-based compensation expense

 

                  7,214

 

 

 

                 11,156

 

Non-cash operating lease expense

 

                  4,540

 

 

 

                  3,952

 

Change in fair value of contingent consideration liability

 

                  2,447

 

 

 

                       —

 

Amortization expense of finance leases

 

                  1,875

 

 

 

                  1,485

 

Deferred tax (benefit) provision

 

                     (90

)

 

 

                     652

 

Change in fair value of warrants liability

 

                 (8,471

)

 

 

                 10,938

 

Loss on extinguishment of debt

 

                       —

 

 

 

                  9,629

 

Non-cash interest expense on senior secured convertible notes

 

                       —

 

 

 

                  4,692

 

Impairment of goodwill

 

                 46,300

 

 

 

                       —

 

Other

 

                  1,456

 

 

 

                     660

 

Changes in operating assets and liabilities:

 

 

 

Accounts receivable

 

                 22,143

 

 

 

               (12,661

)

Prepaid expenses and other assets

 

                 (1,081

)

 

 

                     283

 

Accounts payable, accrued expenses and other liabilities

 

                  3,159

 

 

 

                  6,632

 

Contract liabilities and customer advances

 

                 (3,448

)

 

 

               (12,563

)

Operating lease liabilities

 

                 (5,665

)

 

 

                 (3,795

)

Net cash provided by (used in) operating activities

 

                 36,536

 

 

 

                 (1,121

)

 

 

 

 

Investing activities:

 

 

 

Capitalized internal-use software costs

 

               (12,402

)

 

 

               (10,925

)

Purchases of property and equipment

 

                    (823

)

 

 

                    (744

)

Net cash used in investing activities

 

               (13,225

)

 

 

               (11,669

)

 

 

 

 

Financing activities:

 

 

 

Payments for dividends on convertible redeemable preferred stock

 

               (15,512

)

 

 

                 (4,760

)

Principal payments on finance leases

 

                 (2,004

)

 

 

                 (1,475

)

Principal payment and extinguishment costs on senior secured convertible notes

 

                       —

 

 

 

             (204,014

)

Principal payment and extinguishment costs on secured term note

 

                       —

 

 

 

               (14,031

)

Proceeds from borrowing on revolving line of credit

 

                       —

 

 

 

                16,000

 

Proceeds from issuance of convertible redeemable preferred stock, net of issuance costs

 

                       —

 

 

 

               188,183

 

Other

 

                      (61

)

 

 

                    (429

)

Net cash used in financing activities

 

               (17,577

)

 

 

               (20,526

)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

                 (2,502

)

 

 

                    (691

)

Net increase (decrease) in cash, cash equivalents and restricted cash

 

                  3,232

 

 

 

               (34,007

)

Cash, cash equivalents and restricted cash at beginning of period

 

                 22,279

 

 

 

                50,741

 

Cash, cash equivalents and restricted cash at end of period

$

               25,511

 

 

$

              16,734

 

   

 

As of September 30,

 

2022

 

2021

Cash and cash equivalents

$

               25,086

 

 

$

               15,940

 

Restricted cash

 

                     425

 

 

 

                     794

 

Total cash, cash equivalents and restricted cash

$

               25,511

 

 

$

               16,734

 

Reconciliation of Non-GAAP Financial Measures

The following table presents a reconciliation of GAAP net (loss) income to non-GAAP adjusted EBITDA and adjusted EBITDA margin for each of the periods identified:

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

(In thousands)

2022 (Unaudited)

 

2021 (Unaudited)

 

2022 (Unaudited)

 

2021 (Unaudited)

GAAP net (loss) income

$

(52,382

)

 

$

1,980

 

 

$

(66,708

)

 

$

(52,920

)

 

 

 

 

 

 

 

 

Amortization of intangible assets

 

6,772

 

 

 

6,172

 

 

 

20,323

 

 

 

18,866

 

Depreciation

 

4,186

 

 

 

3,882

 

 

 

12,542

 

 

 

11,873

 

Amortization expense of finance leases

 

515

 

 

 

543

 

 

 

1,875

 

 

 

1,484

 

Income tax (benefit) provision

 

(86

)

 

 

722

 

 

 

1,945

 

 

 

2,166

 

Interest expense, net

 

284

 

 

 

169

 

 

 

660

 

 

 

7,569

 

EBITDA

 

(40,711

)

 

 

13,468

 

 

 

(29,363

)

 

 

(10,962

)

 

 

 

 

 

 

 

 

Adjustments:

 

 

 

 

 

 

 

Stock-based compensation expense

 

1,416

 

 

 

3,034

 

 

 

7,214

 

 

 

11,156

 

Amortization of cloud-computing implementation costs

 

358

 

 

 

342

 

 

 

1,076

 

 

 

342

 

Change in fair value of contingent consideration liability

 

44

 

 

 

 

 

 

2,447

 

 

 

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

 

 

9,629

 

Restructuring

 

5,784

 

 

 

 

 

 

5,784

 

 

 

 

Impairment of goodwill

 

46,300

 

 

 

 

 

 

46,300

 

 

 

 

Other (income) expense, net (1)

 

(1,476

)

 

 

(5,582

)

 

 

(8,464

)

 

 

9,288

 

Non-GAAP adjusted EBITDA

$

11,715

 

 

$

11,262

 

 

$

24,994

 

 

$

19,453

 

Non-GAAP adjusted EBITDA margin (2)

 

12.6

%

 

 

12.2

%

 

 

9.0

%

 

 

7.2

%

(1) Adjustments to other (income) expense, net reflect non-cash changes in the fair value of financing derivatives, interest make-whole derivative and warrants liability included in other income (expense), net on our Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income.

(2) Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue reported on our Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income for the applicable period.

We do not provide GAAP net (loss) income on a forward-looking basis because we are unable to predict with reasonable certainty our future stock-based compensation expense, fair value adjustments, variable interest expense, litigation and restructuring expense and any unusual gains or losses without unreasonable effort. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. For this reason, we are unable without unreasonable effort to provide a reconciliation of adjusted EBITDA or adjusted EBITDA margin to the most directly comparable GAAP measure, GAAP net (loss) income, on a forward-looking basis.

Revenues

Revenues from our two offerings of products and services are as follows:

 

Three Months Ended September 30,

 

 

 

 

(In thousands)

2022 (Unaudited)

 

% of Revenue

 

2021 (Unaudited)

 

% of Revenue

 

$ Variance

 

% Variance

Digital Ad Solutions

$

52,360

 

56.4

%

 

$

57,039

 

61.7

%

 

$

(4,679

)

 

(8.2

) %

Cross Platform Solutions(1)

 

40,423

 

43.6

%

 

 

35,448

 

38.3

%

 

 

4,975

 

 

14.0

%

Total revenues

$

92,783

 

100.0

%

 

$

92,487

 

100.0

%

 

$

296

 

 

0.3

%

 

 

 

 

 

 

 

 

 

 

 

 

(1) Cross Platform Solutions revenue includes revenue from our movies business, which grew from $7.9 million in the third quarter of 2021 to $8.7 million in the third quarter of 2022.

 

Nine Months Ended September 30,

 

 

 

 

(In thousands)

2022 (Unaudited)

 

% of Revenue

 

2021 (Unaudited)

 

% of Revenue

 

$ Variance

 

% Variance

Digital Ad Solutions

$

157,127

 

56.5

%

 

$

162,581

 

60.1

%

 

$

(5,454

)

 

(3.4

) %

Cross Platform Solutions(1)

 

121,056

 

43.5

%

 

 

107,895

 

39.9

%

 

 

13,161

 

 

12.2

%

Total revenues

$

278,183

 

100.0

%

 

$

270,476

 

100.0

%

 

$

7,707

 

 

2.8

%

 

 

 

 

 

 

 

 

 

 

 

 

(1) Cross Platform Solutions revenue includes revenue from our movies business, which grew from $22.2 million in the first nine months of 2021 to $25.3 million in the first nine months of 2022.

 

Press Bill Daddi Daddi Brand Communications 917-620-3717 press@comscore.com

Investors John Tinker Comscore, Inc. 212-203-2129 jtinker@comscore.com

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