Taboola.com
TBLANASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $2.02 Prior regular-session close from the quote source.
- $2.00–$2.07 Regular-session low and high so far today.
- 2.6M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $1.92–$5.71 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own TBLA if sustained—convert steady revenue growth into improving margins and cash flow.
TBLA price history
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Investment thesis
What must happen next
Taboola’s scale in publisher inventory and recommendation algorithms preserve advertiser ROI and publisher monetization, which keeps demand and revenue growing.StrengtheningMateriality: High
Revenue rose year‑over‑year from $1,439,685,000 (2023) to $1,766,220,000 (2024) to $1,912,040,000 (2025), showing sustained top‑line expansion. If true, revenue growth continues and supports margin expansion; if false, revenue will stall as advertisers reallocate spend to platforms with better ROI.
Watch: Large advertisers shift budgets back to Meta/Google or toward connected TV, reducing demand for open‑web recommendation inventory.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Revenue rose year‑over‑year from $1,439,685,000 (2023) to $1,766,220,000 (2024) to $1,912,040,000 (2025), showing sustained top‑line expansion.
Open source ↗Technology-driven matching and scale let Taboola sustain positive gross margins (publishers receive a share but Taboola retains a spread), so rising ad spend translates into gross profit growth rather than only higher payouts.StrengtheningMateriality: High
Gross profit increased from $425,558,000 (2023) to $534,218,000 (2024) to $569,510,000 (2025), indicating monetization scale improved absolute profit. If gross margin resilience holds, revenue growth converts to operating profit; if payouts or traffic acquisition costs rise, gross profit will compress and operating leverage evaporates.
Watch: Publishers demand higher revenue share or negotiated raises in payout rates, compressing Taboola’s take.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Gross profit increased from $425,558,000 (2023) to $534,218,000 (2024) to $569,510,000 (2025), indicating monetization scale improved absolute profit.
Open source ↗Taboola can convert revenue and gross‑profit growth into recurring operating profits because operating expense growth is controllable and benefits from scale.StrengtheningMateriality: Medium
Operating income improved from a loss of $63,737,000 (2023) to positive $25,917,000 (2024) and $44,057,000 (2025), showing operating leverage emerging. Operating leverage turning positive is what makes earnings and FCF scale with revenue; if operating costs must rise to defend share, margins will stall and returns fall.
Watch: Management increases S&M or R&D spending materially to defend or grow share (outpacing revenue), eliminating operating leverage.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating income improved from a loss of $63,737,000 (2023) to positive $25,917,000 (2024) and $44,057,000 (2025), showing operating leverage emerging.
Open source ↗Taboola’s business converts accounting profits into operating cash flow at scale, providing funding optionality for buybacks, debt paydown or product investment.StrengtheningMateriality: Medium
Operating cash flow rose from $84,373,000 (2023) to $184,331,000 (2024) to $208,364,000 (2025), indicating improving cash conversion. Strong cash conversion lowers financing risk and supports shareholder returns; if cash conversion weakens, reported profits may be less valuable.
Watch: Receivables or working capital build increase, reversing cash conversion.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow rose from $84,373,000 (2023) to $184,331,000 (2024) to $208,364,000 (2025), indicating improving cash conversion.
Open source ↗
Full investment case & evidence
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Original research
Taboola’s scale in publisher inventory and recommendation algorithms preserve advertiser ROI and publisher monetization, which keeps demand and revenue growing. If true, revenue growth continues and supports margin expansion; if false, revenue will stall as advertisers reallocate spend to platforms with better ROI.
Technology-driven matching and scale let Taboola sustain positive gross margins (publishers receive a share but Taboola retains a spread), so rising ad spend translates into gross profit growth rather than only higher payouts. If gross margin resilience holds, revenue growth converts to operating profit; if payouts or traffic acquisition costs rise, gross profit will compress and operating leverage evaporates.
Taboola can convert revenue and gross‑profit growth into recurring operating profits because operating expense growth is controllable and benefits from scale. Operating leverage turning positive is what makes earnings and FCF scale with revenue; if operating costs must rise to defend share, margins will stall and returns fall.
Taboola’s business converts accounting profits into operating cash flow at scale, providing funding optionality for buybacks, debt paydown or product investment. Strong cash conversion lowers financing risk and supports shareholder returns; if cash conversion weakens, reported profits may be less valuable.
All standing thesis claims
Original report summary
sustained—convert steady revenue growth into improving margins and cash flow.
Bull case and bear case
Bull case and bear case for Taboola.com
Where the evidence on Taboola.com stands: Strengthening on the latest evidence (Nov 9, 2026). Of its 4 thesis points, 4 strengthening.
Bull case: what the evidence supports
Taboola’s scale in publisher inventory and recommendation algorithms preserve advertiser ROI and publisher monetization, which keeps demand and revenue growing.
Technology-driven matching and scale let Taboola sustain positive gross margins (publishers receive a share but Taboola retains a spread), so rising ad spend translates into gross profit growth rather than only higher payouts.
Taboola can convert revenue and gross‑profit growth into recurring operating profits because operating expense growth is controllable and benefits from scale.
Taboola’s business converts accounting profits into operating cash flow at scale, providing funding optionality for buybacks, debt paydown or product investment.
Bear case: what would count against it
Large advertisers shift budgets back to Meta/Google or toward connected TV, reducing demand for open‑web recommendation inventory.
Publishers demand higher revenue share or negotiated raises in payout rates, compressing Taboola’s take.
Management increases S&M or R&D spending materially to defend or grow share (outpacing revenue), eliminating operating leverage.
Thesis-Break Engine
Thesis-break watch · Taboola.com
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Taboola.com filed an SEC 8-K on 2026-11-04: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Taboola.com filed an SEC 8-K on 2026-08-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Taboola.com filed an SEC 8-K on 2026-05-06: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Large advertisers shift budgets back to Meta/Google or toward connected TV, reducing demand for open‑web recommendation inventory.
- Publishers demand higher revenue share or negotiated raises in payout rates, compressing Taboola’s take.
- Management increases S&M or R&D spending materially to defend or grow share (outpacing revenue), eliminating operating leverage.
- Receivables or working capital build increase, reversing cash conversion.
TBLA news
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Financial statements
TBLA income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
TBLA: quick answers
- Which well-known investors own TBLA?
- 1 of the 37 well-known funds tracked here reported TBLA shares in their latest 13F filing. By share of the fund's portfolio: ARK Investment Management (Cathie Wood), 0.0%. Fund portfolios
TBLA in well-known investors’ portfolios
1 of 37 funds reported TBLA shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Cathie WoodARK Investment Management | 0.02% | $3.0M | +14.9% | Q2 2026 |