Comscore Reports Fourth Quarter and Full Year 2024 Results RESTON, Va., March 04, 2025 - Comscore, Inc. (Nasdaq: SCOR), a trusted partner for planning, transacting and evaluating media across platforms, today reported financial results for the fourth quarter and full year ended December 31, 2024.FY 2024 Financial Highlights
Revenue for 2024 was $356.0 million compared to $371.3 million in 2023
Net loss of $60.2 million compared to $79.4 million in 2023, resulting primarily from non-cash goodwill impairment charges of $63.0 million and $78.2 million, respectively
Adjusted EBITDA1 of $42.4 million compared to $44.0 million in 2023
FX adjusted EBITDA of $40.9 million compared to $46.9 million in 2023
Cash, cash equivalents and restricted cash of $33.5 million versus $22.9 million as of December 31, 2023
Q4 2024 Financial Highlights
Revenue for the fourth quarter was $94.9 million compared to $95.1 million in Q4 2023
Net income of $3.1 million compared to net loss of $28.4 million in Q4 2023, resulting primarily from a non-cash goodwill impairment charge of $34.1 million in Q4 2023
Adjusted EBITDA of $17.2 million compared to $16.4 million in Q4 2023
FX adjusted EBITDA of $14.2 million compared to $18.7 million in Q4 2023
2025 Financial Outlook
Full year revenue expected to be between $360 million and $370 million
Adjusted EBITDA margin expected to be between 12% and 15% for the year
We made solid progress in Q4 to establish Comscore as a leading source for cross-platform planning and measurement, said Jon Carpenter, CEO. Our cross-platform audience solution, Proximic, continued to accelerate, and our cross-platform measurement products also scaled nicely within programmatic advertising environments as we came down the stretch in 2024. We believe this progress and the leadership additions weve made in recent months position us well for growth in 2025.
Fourth Quarter Summary Results
Revenue in the fourth quarter was $94.9 million, down 0.2% from $95.1 million in Q4 2023. Content & Ad Measurement revenue increased 1.0% compared to the prior-year quarter, driven by an increase in our cross-platform revenue, which grew 21.7% over Q4 2023. This growth was partially offset by lower revenue from our syndicated audience offerings, primarily related to our national TV and syndicated digital products. Research & Insight Solutions revenue declined 6.5% from Q4 2023, primarily due to lower deliveries of certain custom digital products.
Our core operating expenses, which include cost of revenues, sales and marketing, research and development and general and administrative expenses, were $90.3 million for the quarter, up 7.6% compared to $83.9 million in Q4 2023, primarily due to higher employee compensation and data licensing costs.
Net income for the quarter was $3.1 million, compared to net loss of $28.4 million in Q4 2023, resulting in net income (loss) margins of 3.3% and (29.9)% of revenue, respectively. Included in net loss for Q4 2023 was a non-cash impairment charge of $34.1 million related to goodwill. After accounting for dividends on our convertible preferred stock, loss per share attributable to common shares in Q4 2024 was $(0.27), compared to loss per share of $(6.69) in Q4 2023.
Non-GAAP adjusted EBITDA for the quarter was $17.2 million, compared to $16.4 million in Q4 2023, resulting in adjusted EBITDA margins of 18.1% and 17.3%, respectively. Excluding the impact of foreign currency transactions, FX adjusted EBITDA for the quarter was $14.2 million, compared to $18.7 million in Q4 2023. Adjusted EBITDA and adjusted EBITDA margin exclude depreciation and amortization, net interest expense, income taxes, impairment of goodwill, stock-based compensation expense, transformation costs, impairment of right-of-use and long-lived assets, restructuring costs, change in fair value of contingent consideration liability and other items as presented in the accompanying tables. FX adjusted EBITDA excludes these items as well as gain/loss from foreign currency transactions.
Full-Year Summary Results
Revenue for 2024 was $356.0 million, down 4.1% compared to $371.3 million in 2023. Content & Ad Measurement revenue declined 2.8% compared to 2023, driven by lower revenue from our syndicated audience offerings (primarily related to national TV and syndicated digital products), partially offset by an increase in our cross-platform revenue, which grew 19.7% over 2023. Research & Insight Solutions revenue declined 10.6% from 2023, primarily due to lower deliveries of certain custom digital products.
Our core operating expenses, which include cost of revenues, sales and marketing, research and development and general and administrative expenses, were $347.1 million, down 1.9% compared to $353.8 million in 2023, primarily driven by a decline in employee compensation and lower cloud computing costs, partially offset by higher data licensing costs.
Net loss for the year was $60.2 million, compared to $79.4 million in 2023, resulting in net loss margins of (16.9)% and (21.4)% of revenue, respectively. Included in net loss for 2024 and 2023 were non-cash impairment charges of $63.0 million and $78.2 million, respectively, related to goodwill. After accounting for dividends on our convertible preferred stock, loss per share attributable to common shares in 2024 was $(15.53), compared to loss per share of $(19.88) in 2023.
Non-GAAP adjusted EBITDA for the year was $42.4 million compared to $44.0 million in 2023, resulting in adjusted EBITDA margins of 11.9% for both years. Excluding the impact of foreign currency transactions, FX adjusted EBITDA for 2024 was $40.9 million, compared to $46.9 million in 2023.
Balance Sheet and Liquidity
As of December 31, 2024, cash, cash equivalents and restricted cash totaled $33.5 million.
On December 31, 2024, we entered into a senior secured financing a
