Earned & PaidCompanies · adtech platform
Taboola
Sell sideTBLA
Taboola brought in $1.91B of revenue in fiscal 2025, growing 10% a year over five years at a 2% operating margin.
$1.91Brevenue, FY2025
+10%growth a year, 5 years
2%operating margin
Revenue and margin
Bars: revenue, $B (10-K). Years where the filing's revenue line isn't comparable are left out of the line.
What they told investors
“the return on ad spend from DeeperDive compared to anything else, it's at the top”Adam Singolda · 2026 Q1 · transcript
“So I mentioned, obviously, in my prepared remarks that we've increased marketing spend intentionally over the last two quarters, Q3 and now heading into Q4.”management · 2025 Q3 · transcript
“So as we've seen that, we've started increasing our marketing spend, which has a smaller effect on the immediate term, but again brings on more advertisers, which should help us grow faster in the future.”Steve Walker · 2025 Q3 · transcript
“So I think for us, it's laser-focused on how do you get return on ad spend as fast as you can for advertisers so they don't churn.”Adam Singolda · 2025 Q3 · transcript
“Means I can spend more on marketing and I can basically still have a good positive ROI on it.”Steve Walker · 2025 Q3 · transcript
What they see in the market
What its leaders and filings say about the ad market: its own ad business, or the channels advertisers use, since 2019; counts are statements, not spending.
Programmatic & display 127× since 2023AI in marketing 50× since 2023Affiliate & lead gen 6× since 2023Connected TV & streaming 6× since 2025Measurement 5× since 2025Sponsorships & athletes 2× since 2023CRM, loyalty & first-party data 2× since 2025Retail media 1× since 2025
- Programmatic & display “We're continuing to offer advertisers a viable option beyond search and social while investing in our tech to drive advertiser success and strengthening our relationship with some of the world's leading publishers.” Adam Singolda on the earnings call · Aug 12, 2026 · source
- AI in marketing “This partnership demonstrates that publishers increasingly value partners that can combine AI, proprietary data and advertiser demand to drive better monetization.” Adam Singolda on the earnings call · Aug 12, 2026 · source
- Affiliate & lead gen “And to oversimplify this, what that means if you're a personal finance mortgage company and you were able to get 1,000 leads with Taboola, we're able to predict how much money do you need to give us to get the next 1,000 conversion, which is really comforting for advertisers who…” Adam Singolda on the earnings call · May 7, 2026 · source
- Measurement “When I look at effective CPMs on a DeeperDive page or when I look at advertiser conversion rates, the return on ad spend from DeeperDive compared to anything else, it's at the top.” Adam Singolda on the earnings call · May 7, 2026 · source
- Sponsorships & athletes “It's usually companies like Coca-Cola trying to build their brand by tying themselves to those events.” Stephen Walker on the earnings call · May 7, 2026 · source