Yahoo Finance

Jill Putman

Thanks, Lisa, and welcome everyone. I'm excited to step in as interim CFO in addition to my role as an IAS board member. I've been very impressed with the team and look forward to supporting the company through this transitional period.
Let me walk through our 2024 4th quarter results before turning to our financial outlook for the 2025 1st quarter and full year.
Total revenue in the fourth quarter increased 14% to $153 million ahead of our prior outlook of 148 to $150 million. In addition, we achieved an adjusted IBEA margin of 40% in the fourth quarter.
For the full year 2024, total revenue increased 12% to $530.1 million ahead of our prior outlook of $525 to $527 million.
2024 full year adjusted Ibida was $191.3 million at a 36% margin.
Fourth quarter revenue growth was driven by double-digit gains across all three of our major revenue categories.
Advertisers spend in the retail and CPG verticals improved from the 3rd quarter, and we saw continued strength in financial services.
As we noted, we began to recognize the positive impact of recently won Oracle business across our advertiser and publisher businesses.
Optimization revenue grew 11% to $70.6 million in the fourth quarter.
Improved advertiser spend on our leading optimization products drove volumes in both our contextual and non-contextual segments.
Measurement revenue increased 12% to $59.1 million in the fourth quarter.
Looking at measurement revenue by channel, social media revenue growth increased to 25% with continued adoption of TMQ across platforms, including Snap and Pinterest that were launched in the second half of the year.
Social media represented 54% of measurement revenue and 21% of total revenue in the fourth quarter.
Open web revenue was consistent with the prior year period and represented 46% of measurement revenue.
Turning to measurement revenue by format, video grew 14% in the fourth quarter and accounted for 56% of measurement revenue with display representing 44% of measurement revenue.
Publisher revenue increased 30% to $23.4 million driven by the adoption of new publicca products by large OEM partners, as well as increased political spend.
Publisher revenue represented 15% of total 4th quarter revenue.
We continue to expand our international footprint, which is a key competitive differentiator as customers prioritize global coverage.
International revenue growth accelerated in the fourth quarter, up 13% to $49 million or 32% of total revenue. In addition, 45% of measurement revenue in the fourth quarter came from outside of Americas. For the full year, 31% of revenue, or $166 million came from outside of the Americas.
Gross profit margin for the 4th quarter was 78%.
Gross profit margin for the full year was 79% at the high end of our prior outlook of 77 to 79%.
On a combined basis, our operating expenses for the 4th quarter, excluding non-cash expense items, were flat year over year due primarily to increased capitalization of internally developed software and lower than anticipated bad debt expense.
Stock-based compensation expense for the period was $13 million lower than our prior outlook of $15 to $16 million.
Adjusted EIA for the fourth quarter, which excludes stock-based compensation and one-time items, increased 29% to $61.4 million above our prior outlook of $55 to $57 million.
Adjusted even on margin for the 4th quarter increased to 40% from 35% last year.
Adjusted EPEA for the full year 2024, increased 20% to $191.3 million at a 36% margin, up from $159.5 million at a 34% margin last year.
Net income for the fourth quarter was $15.3 million or $0.09 per share compared to $10.2 million or $0.06 per share in the fourth quarter of 2023.
Moving to our performance metrics.
Our 4th quarter advertiser net revenue retention or NRR was 107%, which reflects lower advertising revenue growth for the trailing 12 month period and excludes our publisher growth.
The total number of large advertising customers, which includes both mid-tier and top tier clients with annual revenue over $200,000 grew to 237 compared to 222 in the prior year period and $232 in the 2024 3rd quarter.
Revenue from large customers was 85% of total advertising revenue on a trailing 12-month basis, consistent with recent periods.
We continue to generate strong cash flows and maintain a healthy balance sheet with cash and cash equivalents at the end of the 4th quarter of $84 million.
During the quarter, we reduced our long-term debt by $30 million to $35 million.
Turning to guidance, for the first quarter ending March 31, 2025, we expect total revenue in the range of $128 to $131 million or 13% year over year growth at the midpoint.
We expect the quarterly revenue spread for 2025 to be similar to recent years.
Adjusted DAA for the first quarter is expected in the range of $38 to $40 million or 30% margin at the midpoint.
For the full year 2025, our revenue outlook is $588 to $600 million or 12% year over year growth at the midpoint.
Full year 2025, adjusted IEDA is expected in the range of $202 to $210 million or a 35% margin at the midpoint.
A few additional modeling points. We expect to maintain gross margins for the full year 2025 in the range of 77 to 79%.
First quarter stock-based compensation expense is expected in the range of 15 to $17 million and $0.77 dollars to $81 million for the full year.
We expect weighted average shares outstanding for the first quarter in the range of 163 to 164 million shares, and 165 to 167 million shares for the full year.
We expect an effective tax rate of approximately 30% for the full year 2025.
In conclusion, we reported solid 4th quarter results which enabled us to achieve the rule of 48 for the full year 2024. In 2025, we will continue to invest in differentiated products while managing our costs. Our 2025 outlook calls for double digit revenue growth and strong adjusted even up profitability.
And with that, Lisa and I are now ready to take your questions.
Operator?

Question and Answer Session

Operator

(Operator Instructions) Mark Kelley, Stifel.

Mark Kelley

Great, thank you and good morning everyone. First of all, nice quarter, especially given what we've heard, from the broader tech community over the last few weeks. So well done. First question is, your main competitor called outli is a headwind, with brands really not coming back post-election. Curious to hear what you saw in the quarter around political, and then just second question on CTV scales and continues to shift towards more. Real time bidding and less on direct deals, I guess how does that impact your business overall in terms of, volume and pricing? Thanks very much.

Lisa Utzschneider

Good morning, Mark.
Happy to take both questions. So the first one around political spending, a couple of callouts. The impact from Politico was limited to the lead up to elections in November.
On the advertiser business side, we did see some political headwinds while the publisher side it actually benefited from increased political spend. We were also pleased to see advertiser spend uptick in retail and CPG verticals. They improved in 4th quarter with continued strength in the financial service sector.
And with your second question related to CCTV, the ongoing shift to real-time bidding, we actually see that as a tailwind for our business as we continue to invest in our. CTV product offerings, especially in Publica, as we noted in our 4th quarter results, we're seeing strength in publisher across the board, in particular CTV with a 30% year over year growth in the 4th quarter.
Great thank you Lisa.

Operator

Youssef Squali, Truist.

Youssef Squali

Good morning everyone, and yeah, congrats on the on an impressive quarter, all things considered maybe just two questions on one on on pricing can you maybe talk about what you've seen in pri on pricing maybe delineating pricing and measurement, particularly from demote wins versus non-mote clients and then, still on the measurement did measurement get a the a lift in growth from maybe.
Having the pre-bid product on meta in in Q4 already which was a bit ahead of where your competitor was thank you.

Lisa Utzschneider

Hi Yusuf.
Thank you for the question. So the first question related to pricing on measurement from mo versus non-moat, we were thrilled with the wind that we put up on the board during last year's summer of Oracle. You might remember the win rate was north of 70% with 75+ wins. It was a competitive jump ball situation. But we were able to demonstrate both with the differentiation of our products, the value that we offer these new customers coming from, we were able to see a high win rate, but there were pricing dynamics during those RFP jump balls. And then the second question related to Uptick in measurement. A couple of callouts there. We continue to see nice adoption of total media quality across all of our social platforms. Where we're seeing the adoption is within the TOP100 advertising customers think of those as the enterprise accounts, especially from. 51 to 100 advertisers. The sales teams are very focused on driving TMQ adoption across all the major markets for these global advertisers.
The second call out with TMQ is we also announced last year in the back half of the year new social platforms that we rolled out TMQ. Including platforms like Snap, Pinterest, and Reddit, and being able to expand reach in new platforms, that's also driving TMQ growth and adoption of our social measurement revenue. And then in terms of the launch of the pre-bid social optimization. We were thrilled when Mehta selected IS last summer. I'm sure you remember that. They selected us to be the beta partner to co-build the pre-bid social optimization product. We launched a beta last September. We launched in 4th quarter GA. We're very pleased with the ramp that we're seeing in pre-bid Social on Meta through. Fourth quarter and into 1st quarter, it's early days with that launch, but a few things to call out in terms of what we're learning is we're seeing a 71% reduction in wasted ad spend in unsuitable content with the brands that have adopted the product again a demonstration of the value. That we're driving, but it's early days, so the team were just focused on driving the adoption, ensuring we're demonstrating the value, and the other thing that's important to call out is that the clients that are adopting the product, they're already running our post-bid measurement solution on meta, and again we're running the pre-bid social both on Meta and on TikTok.

Youssef Squali

Yes, got it, thank.

Operator

Jason Helfstein, Oppenheimer.

Jason Helfstein

Hi, thanks. Good morning everyone. Two questions. So Lisa, it would seem that pre-bid could have a much higher coverage. I don't want to say 100%, but, much higher coverage were relevant, whereas post bid and verification. Potentially is much smaller coverage similar to the way Nielsen measures TV with limited sampling. Given that I started with post bid and is now expanding much more significantly with pre-bid across all the different areas you've talked about, how does it change your visibility and long term outlook for the business? And then second, Jill, could you perhaps give us your outlook for the full year by segment and format if you can give any color there?
Thank you.

Lisa Utzschneider

Yeah, thanks, Jason.
Thank you for the question. So I'll take the first question around pre-bid, post bid, and visibility that we have into the business. So a couple of things to call out there. The first is exactly to your question. We are doubling down and investing heavily in performance and our performance capabilities in programmatic. As I mentioned earlier in the call in 2025, when we think about our product roadmap, we're focused on three key objectives that includes delivering performance as brands are doubling down on things like performance, efficiency, transparency, ROI. Second thing. We're focused on is expanding reach both in terms of new platforms, new inventories, international expansion, and then the third key area is innovation both with media efficiency and protection by leveraging AI. So we are all hands on deck when it comes to programmatic and performance and in particular linking performance and media cost data.
And with that, because we're doubling down on all things related to performance and pre-bid, we're seeing really nice adoption from several key pre-bid products that we launched, total visibility being one of them. And because we're seeing nice adoption of total visibility where we're able to link up media quality signals with cost data, we are getting closer and a better understanding to advertisers and how they're planning their pre-bid buying, and with that it gives us greater visibility in terms of revenue forecasts both on the post-bid side and the pre-bid side. One other point tied to that and Made it earlier about social pre-bid and meta is that advertisers who are adopting pre-bid social optimization in meta, they have to be running post-bid measurement solutions on meta. So with that, because we already know what they're running post bid and they're adopting the pre-bid product, that's another great example of how we're seeing transparency both at the pre-bid and post-bid level. Jill, would you like to take Jason's second question?

Jill Putman

Yeah, sure. Hey, good morning, Jason. So as far as how we're thinking about growth across the business in 2025, total advertising revenue is expected to have double digit growth. We're seeing improved optimization performance in the first quarter relative to the fourth quarter, and expect this growth rate to outpace both the Q1 and the full year guidance that we provided for the total revenue growth.
For measurement, we expect single digit growth in the first quarter. So that will be below the guide we've provided again for the total revenue with improvements throughout the full year. And then for publisher, we expect double digit growth here as well in both Q1 and for the full year and to outpace the forecasted CTV growth rates. Thanks.

Operator

Raimo Lenschow, Barclays.

Raimo Lenschow

Thanks, congrats for me as well and welcome Jill.
The Lisa, one more on the industry, like since the election we've obviously seen like a change in terms of how some of the social media companies want to look at their content. Has that changed any discussions with clients because it does feel like that should kind of improve the spending for you guys tremendously because you can help them in a kind of more evolving environment there and then I have one follow up.

Lisa Utzschneider

Yeah, thank you for the question, Ramo.
So when you look back, CES is every year in early January, and it's when we spend time with some of our biggest advertisers, the whole cos, the platform clients, and during that week it was both when Mehta announced that they were doing away with fact checking. And then also there was the unknown of whether or not TikTok would be banned in the US, and that gave us the opportunity to have many face to face discussions with our largest advertisers and hoos and have the conversation about their social strategy in 2025.
And with that, it's too early to say whether or not some of these shifts we're seeing with the social platforms is opportunity for IS, but I will say our role in the digital ecosystem, our role in providing a best in class multimedia classification in all of the major live feeds. Of social platforms is a tailwind for our business. The brands were very clear during CES. IS, you're in the business of trust. We trust the accuracy of your multimedia tech. We trust the efficiency, the velocity, the granularity of it, and they're leaning into us to help navigate with them. The environment that we're operating in right now, and that's a big reason why we continue to invest deeply in our tech.

Raimo Lenschow

Yeah, perfect. Okay, thank you. That's very clear. And then another question on the Oracle wins, like, can you talk a little bit about the progression there? It does look like you're having good progress here in terms of converting them and kind of getting them on the platform, but what's the journey? Where are we on that journey?
Thank you and congrats again.

Lisa Utzschneider

Yeah, thank you. So with Oracle and I spoke to before, our win rate and the fact that 4th quarter, you might remember Oracle, they shut down, shut off their solution to their entire customer base at the end of September. So 4th quarter of 2024 was very much the quarter to drive the integrations, get all of the new customers on board, adopting. Products and where we see nice upsell cross sell opportunity is with the brands in particular because Oracle did not have a robust brand safety suitability solution. Also important to call out where we see additional runway is in the midmarket channel. Oracle had robust mid-market base, and it's great to have. Mark Brabowski on board as our COO who was formerly the global CRO of Oracle, who has a deep background in midmarket. Midmarket is an area that we're investing heavily in. And then the third call out is we did have a few more wins with Oracle following our earnings call last November, in particular in the luxury and financial services verticals.

Raimo Lenschow

Perfect, well done, thank you.

Lisa Utzschneider

Thanks.

Operator

Robert Coolbrith, Evercore ISI.

Robert Coolbrith

Thank you, just wanted to ask a couple please.
Going back a number of years to the IPO you talked about performance measurement as a potential TAM expander. We've seen a competitor get involved in the MTA space just recently, and I think just generally across the industry you're seeing a lot of interest in incrementality. You talked a lot last quarter, I think about your data assets in particular and how they could be leveraged over time. I is measurement or MTA an area that you're looking at more closely and anything you can tell us about that?

Lisa Utzschneider

Yeah, Robert, thank you for the question. So as I mentioned before, we're very focused on doubling down in performance, and what I mean by performance is activation. Our working thesis is helping brands find higher quality media leads to higher ROI, and the way we're doing that is by leveraging the media quality signals, our contextual signals, and marrying that up with cost data tied to outcomes. In terms of our data assets, we have a robust data because we're classifying so much data, billions and. Billions of web events every single day and with our data assets we're doing a lot of interesting work right now layering our media quality data with third party audience signals and first party brand signals. This is focusing on more of that performance activation that I spoke to before, and that's our primary area of focus in 2025 is performance and activation.

Robert Coolbrith

Got it, thank you. And then, second one, if I could ask, there been a couple of recent industry developments we've be getting, questions about. One is the, since acquisition and then secondly, Amazon had some, I think some, a new page level reporting. So we've been questions about that. Are you seeing any movement of the DSPs to be vertically integrate some part of verification, and what are you seeing there?
Thank you.

Lisa Utzschneider

Sure, I'll take both questions. Sierra, so sincera has been a really important strategic partner for the company, powering several portions of several of our products. And will continue in the first half to be a partner of ours in the Amazon question related to is it the level reporting? Are you referring to the URL transparency reporting?
Yes, that that's the one, yeah.
Yeah, so with URL transparency, we actually have offered URL transparency since 2021.
This is a capability that we've offered our customer base for several years. It's an area we'll continue to stay close to and innovate in.

Robert Coolbrith

Got it thank you so much.

Lisa Utzschneider

Yeah.

Operator

Justin Patterson, KeyBanc.

Justin Patterson

Great thank you Lisa, could you talk about how you're thinking about the pipeline for new business, this year versus prior years as you've introduced more, products across the market, even the social capabilities it it seems like there there might be an opportunity to just engage customers that you might not have been able to reach previously.
Thank you.

Lisa Utzschneider

Yeah, sure, Justin, thank you for the question. So I would say that question is tied to of the three goals I spoke to before around performance, expanding reach, and innovation. It's in the expansion of reach. So when you take a look at the robustamm.
For the industry, there are a couple of levers that we're going hard at.
The first is our enterprise customers, those are the TOP100 advertisers. That's all about cross sell, upsell, launch innovative products, launch adoption. But more importantly, to continue the engagement with those top brands is launching new channels, new platforms so that we're expanding the volumes of inventory that the largest customers can adopt the products. Second, really important channel for is that we are investing heavily. This year is mid-market. There are tons of green space in mid-market, both in the US and internationally. We define mid-market as customers who are spending between 200k and a million with IAS, with Mark on board as COO. We are investing both in the front end in investing in.
More sellers, more support, more technical support, and on the back end, performance really matters to the mid-market advertisers, so pouring fuel on our performance products, investing in automation and self-serve. So I would say it's those two drivers for the pipeline enterprise is more. Of an expansion play mid-market, tons of new business.
And then the third area that's important to note that I called out in the script is expansion into emerging markets and new markets, China being the most recent, where we launched in December and we're currently in alpha both in a with a China in strategy and a China out.
Great thank you.

Operator

James Heaney, Jefferies.

James Heaney

Great, thanks for taking the question. How are you thinking about hiring in 2025? I think we heard from Trade Desk about the desire to double the number of senior people within the organization. So we'd just be curious how you think philosophically about balancing profitability with the head count needs to continue growing the business.
Thank you.

Lisa Utzschneider

Yeah, thank you for the question, James.
So there are a couple of areas that we are focused on when it comes to hiring in 2025, and again, these are the areas that drive accelerated growth for the company, drive the greatest value for our customer base, and set us up for long-term profitable growth.
So the first area is R&D, R&D and data science. Science is in the name of our of the company. We have differentiated tech and we will continue to invest in best in class, engineers and data science to focus in particular on all things related to performance, classification, and leveraging AI. The second bucket of hiring is in sales and go to market, in particular, performance, programmatic, and mid-market. So I would say those are the two areas. And then again where we see opportunity to expand in new emerging markets and it makes sense to put boots on the ground, we'll continue to invest in emerging markets.
Great, thank you.
Thank you.

Operator

Andrew Marok, Raymond James.

Andrew Marok

Hey thanks for taking my question. We heard from your main competitor about a major CPG customer going through some idiosyncratic issues, and I've heard some shakiness in CPG and some other reports, although, one of the answers to your previous question seemed to indicate that CPG was doing pretty well for you. I guess from your seat, how's your view on the health of the ad market and what's baked into your one cu or full year assumptions around economic health and impacts of things like tariffs, etc.
Thank you.

Lisa Utzschneider

Good morning, Andrew.
Thank you for the question.
So we are confident in the guide that we put out for Q1 in 2025, as you noted in heading from Q3 into 4th quarter, we start to see strength both in CPG, retail, financial services. Our vertical profile is fairly consistent. And predictable. And also when you take a look at the stickiness of our business, our TOP100 advertisers have been with IS for over 8 years and so we're very leaned in to ensuring that we're driving value for those top accounts. We're keeping them in what I call the IAS boat, and we continue to bring new advertisers and publishers on board.
And one more note about macro, one more note that's important, and I know I keep hitting the playing the performance drum, but performance, efficiency, ROI, and ensuring that we are driving the value. We are helping the brands drive better outcomes with the investments that we make in our solutions. We take the black box out of. Programmatic buying so they truly understand how media quality could lead to keeping them away from media wastage and drive higher ROI. It is just so critical that we continue to invest in this area because the brands are so laser focused on ensuring that every dollar they invest in digital advertising, they see a higher return.

Operator

Omar Dessouky, Bank of America.

Omar Dessouky

Hi, thanks for taking my question here. Lisa, I wanted to play the devil's advocate for a minute here and ask more of a strategic competitive question.
Given that the markets that you play in seems to be a two horse race between you and Double verify.
And activation customers, generally are also measurement customers, and you have to have one in order to have the other.
Why does it make sense to be first to market with activation solutions?
Rather than be a fast follower, and wait until, the competition takes the risk of those products in the market, and makes the investment, to put those products in the market, it would seem that there would be some kind of potential to, perhaps be more efficient, optimize or scale back investment without losing market share.
So again, just playing the devil's advocate here, wanted to see how you think about that.

Lisa Utzschneider

Yeah, thank you for the question, Omar. So on that one, what's interesting about that question is we are a culture of test and learn. We're a culture of planting seeds early, patiently testing and learning with our clients, invest in the product, ensure there's a customer feedback loop so we can improve the product over time, and then launch it to GA. So for example, my remarks before around activation, our total visibility product, we've had that product in market for several years. Have we, did we have a big unveiling several years ago? No, it came off of the amino payments acquisition that we actually made that acquisition before going public in 201. And we quietly just built that activation engine over time, did a lot of tests and learned, and last year is when we really started to see rapid adoption of the product. And that's how we'll operate moving forward. So we'll continue to invest in performance and activation. We build products and prioritize our product and tech roadmap based on the feedback from our customers, and we're hearing loud and clear from our customers right now. They want IS to play both in insurance, protecting brand equity and brand reputation and in performance, and we're doing both.

Omar Dessouky

So if I just interpret what you said, I mean, is, are you saying that there's potentially a risk of market share loss if you're not first to market? That's really the question I'm asking like how important is it to be first to market?

Lisa Utzschneider

I think it entirely depends on the product and it depends on the opportunity. IS historically we've also had plenty of first to markets, Meta being the most recent example, the largest social platform selecting IS because of our sophisticated technology, of course we're going to take advantage of that and launch a first to market product. But if there are other areas where it makes more sense to test and learn until we have a viable product in place, and we need to do both.

Omar Dessouky

Well said.
Thank you very much.

Lisa Utzschneider

Thank you.

Operator

Jason Kreyer, Craig-Hallum.

Jason Kreyer

Great thank you I just want to double click on the rampant publisher growth that you've seen over the last couple of quarters. Can you highlight what publicca products are are resonating that are driving that resurgence there?

Lisa Utzschneider

Yeah, thank you for the question, Jason. So with Publisher again we were pleased to see our 30% growth in the fourth quarter, and there are a couple of areas with Publica where we're seeing nice uptick.
And keep in mind publishers, both Publica and offering our IS solutions, but with Publica in particular, and this is coming off the heels of you might remember we hired Cam Milley last June from Freewheel, who is our new Publica CRO. He has brought fresh perspective, really interesting innovative ideas, and is bringing the customers closer to the product team. And in particular, where we're seeing scale. Adoption of Publica is new product features that are built to increase bidding competition in the ad auctions, and we're seeing nice adoption. We're continuing to invest in Publica, which is a leading differentiated CTV platform, and when we're ready to share more about Publica's product portfolio, we'll do just that.
Thank you.
Thank you.

Operator

Rob Sanderson, Loop Capital.

Rob Sanderson

Thank you. Good morning, everybody. I wanted to ask a little bit more about your plans to expand into China. It can be a trick tricky market to penetrate. What can you say about your go to market strategy? You mentioned in the script, the size of the domestic market, but you also mentioned you cross border. Are you, sort of going after the domestic China opportunity, cross border sellers. Or both. And then in terms of strategic priority, Lisa, you kind of listed emerging markets as like a 0.3 in terms of, growth initiatives. Is that sort of the right framing of, the strategic priority around China? Is it sort of a, we'll, put, plant some seeds, see how they develop and maybe lean in more if it looks, more promising or how should we think about, your expansion into China?

Lisa Utzschneider

Sure, thank you for the question. So on China, the way to think about exactly what you just said, planting seeds, test and learn. We have the opportunity to be first in market in China.
We announced it publicly December of 24, partnership with RTB Asia. The way to think about our opportunity in China, and we've been hearing loudly. For some major global brands, when are you going into China? But there are two sides to the China strategy. There's China in and China out. China Out is offering our verification solutions outside of China for Chinese advertisers who are advertising to consumers outside of China. China in is for. Global brands, major global Fortune 500 brands where China is a really important market for them, and they're advertising in China and they want to leverage our verification solutions. Two verticals in particular that have been loud and clear about us getting into China has been CPG and luxury, and as I mentioned before, we're currently running. Alpha in China. The way I view China, it is a long game, a long play, but again, it's in the spirit of our test and learn culture, planting the seeds early, having, doing, seeing the product adoption, getting that adoption wheel, flying, and then, launching a viable product over time in GA.

Rob Sanderson

In that context, Lisa, is there a third sort of opportunity like you're seeing China in and China out, but what about, China to China? Is that something that is not on the plan for now? Is that something that may be in the future, or is that, am I kind of not thinking about that in in the framework you're trying to articulate?

Lisa Utzschneider

Yeah, the way we view China in particular is crawl walk run, and the areas we're focused on right now with our China in and China out strategy that I spoke to before, those seem like the right seeds to plant, the right areas to focus on, especially with the big marketers. We've had several who have proactively raised. Their hands and say yes we would love to test with you in China. So we're just focused on those two areas right now as we continue to focus on our entire plan for 2025 and make sure that we hit our deliverables across our products in tech roadmap.

Rob Sanderson

Thank you very much.

Operator

Thank you.
That concludes today's question and answer session. I'd like to turn the call back to Lisa Schneider for closing remarks.

Lisa Utzschneider

Thank you everyone for joining today's call. We were pleased to deliver positive results for the fourth quarter. Our 2025 financial outlook calls for double-digit revenue growth and strong profitability driven by our industry leading technology and product innovation. I'd like to thank the entire IS team for their hard work and dedication. We'll be at 2 investor conferences in San Francisco next week and look forward to updating you on our progress. Have a great day and a great weekend.

Operator

This concludes today's conference call.
Thank you for participating. You may now disconnect.