Comscore Reports Third Quarter 2024 ResultsRESTON, Va., November 12, 2024 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, 2024.
Q3 2024 Financial Highlights
Revenue for the third quarter was $88.5 million compared to $91.0 million in Q3 2023
Net loss of $60.6 million compared to net income of $2.6 million in Q3 2023, primarily resulting from a non-cash goodwill impairment charge of $63.0 million in 2024
Adjusted EBITDA of $10.1 million compared to $13.4 million in Q3 2023
FX adjusted EBITDA of $12.4 million compared to $12.3 million in Q3 2023
Refining full-year revenue guidance and maintaining adjusted EBITDA guidance
In the third quarter, we took meaningful steps forward in our cross-platform business, with our revenue in this area growing nearly 34% year-over-year and underpinning several key wins in the market, said Jon Carpenter, CEO. Weve also made steady progress embedding our cross-platform measurement and audience products into the programmatic ecosystem. This progress enables advertisers to more easily target the audiences most important to them and measure their campaigns ability to deliver incremental audiences across platforms. As we look ahead to Q4 and into 2025, Im confident we will continue to make progress in our transformation, positioning us to become the industrys leading source for cross-platform audience planning and measurement.
Third Quarter Summary Results
Revenue in the third quarter was $88.5 million, down 2.8% from $91.0 million in Q3 2023. Content & Ad Measurement revenue was flat compared to the prior-year quarter, with lower revenue from our syndicated audience offerings (primarily related to national TV and syndicated digital products) offset by an increase in our cross-platform revenue, which grew 33.5% over Q3 2023. Research & Insight Solutions revenue declined 14.2% from Q3 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 $82.9 million, a decrease of 3.9% compared to $86.3 million in Q3 2023, primarily due to a decline in employee compensation and lower cloud computing costs.
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 $63.0 million as of September 30, 2024. This charge does not directly impact our liquidity, cash flows or future operations.
Primarily as a result of the goodwill impairment charge, net loss for the quarter was $60.6 million, compared to net income of $2.6 million in Q3 2023, resulting in net (loss) income margins of (68.5)% and 2.9% of revenue, respectively. After accounting for dividends on our convertible preferred stock, loss per share attributable to common shares was $(12.79) and $(0.34) for Q3 2024 and Q3 2023, respectively.
Non-GAAP adjusted EBITDA for the quarter was $10.1 million, compared to $13.4 million in Q3 2023, resulting in adjusted EBITDA margins of 11.5% and 14.7%, respectively. Excluding the impact of foreign currency transactions, FX adjusted EBITDA for the quarter was $12.4 million, compared to $12.3 million in Q3 2023. Adjusted EBITDA and adjusted EBITDA margin exclude impairment of goodwill, impairment of right-of-use and long-lived assets, amortization of cloud-computing implementation costs, restructuring costs, stock-based compensation, transformation costs, change in fair value of contingent consideration and warrants 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.
Balance Sheet and Liquidity
As of September 30, 2024, cash, cash equivalents and restricted cash totaled $20.2 million. Total debt principal, including $10.0 million in then-outstanding borrowings under our senior secured revolving credit agreement, was $20.8 million.
On November 1, 2024, we repaid the outstanding principal balance under our senior secured revolving credit agreement, and on November 5, 2024, we amended the agreement to extend the maturity date with respect to our outstanding letters of credit (totaling $3.2 million) to January 31, 2025. We continue to evaluate alternative financing options for the company, including a replacement of this facility, and have engaged outside advisors to assist in our evaluation.
2024 Outlook
Based on current trends and expectations, we are tightening our full-year 2024 revenue range, with revenue expected to be between $351 and $355 million for the year, and are reaffirming our guidance for an adjusted EBITDA margin of at least 10%. We anticipate a return to growth in 2025 as we continue to invest in and focus on our cross-platform measurement capabilities.
We do not provide GAAP net income (loss) or net income (loss) margin 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 income (loss) and net income (loss) margin, on a forward-looking basis.
Conference Call Information for Today, Tuesday, November 12, 2024 at 5:00 p.m. ET
Management will host a conference call to discuss the results on
Europe Stories
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
10/01/2026
This year, podcasts are making their Golden Globes debut with a new category honoring the medium's leading shows and creators. To mark the occasion, Spotify...
09/01/2026
RT Player has 157 million streams, up 10% year-on-year
An increase on 2024, RT...
09/01/2026
RT 2FM has today announced the highly anticipated list of 2FM Rising Artists for 2026, kicking off 2FM Rising week for the eighth year on The Tracy Clifford Sh...
09/01/2026
RT to Host the 2026 RTS Ireland Awards
Thursday, 16 April 2026 | Dublin Royal Convention Centre
The RTS Ireland Television Awards 2026 | Gradaim RTS 2026 | R...
08/01/2026
An evidence-based analysis on disinformation and information manipulation in Sudan's ongoing conflict is published today. (January 8th 2026).
Thomson Found...
08/01/2026
In 2025 we launched the Spotify Partner Program to give creators more ways to tu...
08/01/2026
On Wednesday in Los Angeles, Spotify welcomed creators and press to a brunch cel...
08/01/2026
TSA awards Rohde & Schwarz contract for advanced airport screening ahead of Socc...
08/01/2026
The review looks back at DPA's miniature microphone development over the years. It compares the evolving technologies from the original mics through CORE an...
08/01/2026
Comscore Launches Audio Targeting and Measurement Capabilities with The Trade De...
08/01/2026
Tonight, on RT Prime Time at 9:35pm on RT One and RT Player
Tonight, Prime T...
08/01/2026
The Late Late Show celebrates the very best of traditional Irish music with its first-ever full special dedicated entirely to the tradition
Lisa Canny | Kevin...
08/01/2026
It will be murder on the dancefloor when Dancing with the Stars returns this S...
07/01/2026
Spotify is launching a week-long celebration spotlighting creators at the center...
07/01/2026
We know people use Spotify not just to listen, but to share the songs, podcasts, and audiobooks they love with their friends and family. When we launched Messag...
07/01/2026
This week, all eyes are on the podcast industry as the Golden Globes recognizes ...
07/01/2026
Podcasts are stepping onto a new stage this week as the Golden Globes recognize the medium for the first time. To mark this milestone moment, we're hosting ...
06/01/2026
Spotify is launching a week-long celebration spotlighting creators at the center...
06/01/2026
Lorde. A$AP Rocky. JENNIE. Baby Keem. KATSEYE. That's just a taste of who...
06/01/2026
Channel 4 and UKTV are giving viewers even more reasons to stream, with UKTV's U service set to feature thousands of hours of free, unmissable and bingeable...
06/01/2026
Tuesday 6 January 2026
An update on our Sky Mobile prices
Devesh Raj, Chief Operating Officer, Sky
Today, we've announced some changes to the prices of ...
06/01/2026
Comscore Launches Daily Program-Level Reporting with Deduplicated Insights on Sh...
06/01/2026
Comscore Completes Recapitalization Transaction with Preferred Stockholders Foll...
05/01/2026
Bad Bunny's DeB TiRAR M S FOToS defined the sound of 2025 for listeners eve...
05/01/2026
As the clock struck midnight and 2026 was born, so was an exciting range of new ...
05/01/2026
These Sacred Vows starring Tom Vaughan-Lawlor, Justine Mitchell and Jason O'...
05/01/2026
DANDANCING WITH THE STARS RETURNS TO SHAKE UP SUNDAY NIGHTS
Reigning Rose of Tr...
02/01/2026
Any Given Day: Cork University Hospital premieres Wednesday 7 January on RT One and RT Player at 9:35pm
RT will debut a powerful new six-part documentary se...
02/01/2026
Friday 2 January 2026
All episodes of Heated Rivalry will be landing on Sky and...
02/01/2026
Sequins, chat shows, live sporting action, ground-breaking docuseries and brand-new Irish drama to kick off 2026
New Year, New Content Coming Soon across RT
...
01/01/2026
The Quantum 852 is situated in the 6,500-seat Seoul-based place of worship, a church which is home to a 1,000-person choir and a 50-piece orchestra. There are f...
01/01/2026
Formed in 2002, OneRepublic have enjoyed huge international success, with over 18 billion streams on Spotify alone. Their current tour, Escape to Europe, contin...
01/01/2026
We had been using the club's previous console for the last ten years, so we researched manufacturer information very carefully, says venue audio manager Mr...
30/12/2025
Your live countdown to 2026 with Inhaler, David Gray, Lyra, Garron Noone, Sharon...
29/12/2025
From crisper Lossless audio and immersive music videos in beta to new Audiobooks+ plans, custom transitions between tracks, and in-app Messages, we keep levelin...
24/12/2025
RT has unveiled an exclusive first look at the new Dancing with the Stars promo...
23/12/2025
The year is winding down, the weather outside is frightful, and it's the perfect time to escape into a story that warms the heart. For listeners looking for...
23/12/2025
23 Dec 2025
VEON's Beeline Kazakhstan and Rakuten Symphony Collaborate to A...
22/12/2025
For a decade, popular German podcast Fest & Flauschig has hosted an annual Chris...
22/12/2025
Monday 22 December 2025
Sky extends PGA TOUR partnership until 2029, as Sky Spo...
22/12/2025
Siobh n McSweeney, Rory McIlroy, Elon Musk, Catherine Connolly, Jim Gavin, Ivan Yates and Traitor Paudie Moloney lead new characters for Callan Kicks the Year 2...
22/12/2025
Winner announced in the picturesque surroundings of Wicklow's Avondale Tower and Treetop Walk
Andrew Trimble wins the show in his first series as coach
Th...
22/12/2025
The 2025 winners have been announced today, Sunday 21 December, for Ireland's largest choral competition Choirs for Christmas hosted by RT lyric fm.
Ove...
21/12/2025
John Shortt named Young Sportsperson of the Year Kerry are the Team of the Year
...
19/12/2025
With Playout Release 2025.4, ToolsOnAir continues to push professional playout w...
Comscore Reports Third Quarter 2024 ResultsRESTON, Va., November 12, 2024 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, 2024.
