TechTarget (TTGT) investor relations material

Executive summary

• Q2 2026 revenue was $116.1 million, down 3.2% year-over-year, with a net loss of $21.7 million, a significant improvement from a $398.7 million net loss in Q2 2025 due to the absence of goodwill impairment charges this year.

• First half 2026 revenues were $222.2 million, broadly flat year-over-year (-0.7%), with Brand to Demand (B2D) segment up 1.2% and Intelligence & Advisory (I&A) segment down 5.5%.

• Adjusted EBITDA and margin remained stable, supported by cost savings and operational improvements despite inflation and product mix changes.

• Strategic focus on largest clients and high-growth markets is expanding the opportunity pipeline and driving commercial momentum.

• New product launches and expanded AI-enabled offerings are enhancing the value proposition and audience engagement.

Financial highlights

• Q2 2026 revenue was $116.1 million (down 3.2% YoY); H1 revenue was $222.2 million, flat year-over-year.

• Brand to Demand Q2 revenue was $85.9 million (down 1.7% YoY); I&A Q2 revenue was $30.3 million (down 7.1% YoY).

• Adjusted EBITDA for Q2 was $15.1 million (13% margin); H1 Adjusted EBITDA was $22.4 million (10.1% margin), both stable year-over-year.

• Net loss for Q2 2026 was $21.7 million, improved from $398.7 million in Q2 2025; H1 net loss was $92.5 million, down from $922.1 million in the prior year.

• Cash and equivalents at quarter end were $45.8 million; $120.1 million drawn on a $250 million revolving credit facility.

Outlook and guidance

• 2026 full-year guidance reiterated: targeting revenue and Adjusted EBITDA growth, with Adjusted EBITDA expected between $95 million and $100 million.

• Confidence in guidance is supported by a larger opportunity pipeline, higher average deal values, stable win rates, and backlog flat year-over-year.

• Growth expected to accelerate into 2027, driven by new products, partnerships, and AI-enabled capabilities.

• Management expects continued pressure on marketing and advertising revenues due to macroeconomic uncertainty and subdued client budgets, but anticipates a rebound as R&D investments by tech vendors translate into new product launches.

• Existing cash and credit facility are expected to be sufficient for at least the next 12 months.