Integral Ad Science Holding Corp.

conference call. At this time all participants are in a listen-only mode. After the speaker's presentation there will be a question and answer session. To ask a question during this session you'll need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to turn the conference over to your first speaker, Jonathan Schaefer, Senior Vice President of Investor Relations. Please go ahead.

Thank you. Good afternoon and welcome to the IAS Second Quarter 2025 Financial Results Conference call. I'm joined today by Lisa Uchneider, CEO and Alpana Wegner, CFO. Before we begin, please note that today's call and prepared remarks contain forward-looking statements. We refer you to the company's filings with the SEC posted on our investor relations site at .integralads.com for more details about important risks and uncertainties that could cause actual results to differ materially from our expectations. We will also refer to non-GAAP measures on today's call. A reconciliation of non-GAAP measures to the most directly comparable GAAP measures is contained in today's earnings release available on our investor relations site. All financial comparisons, unless noted otherwise, are based on the prior year period. So with these formalities out of the way, I'd now like to turn the call over to our CEO, Lisa Uchneider. Lisa, you may begin.

Thank you, Jonathan. Welcome everyone to our 2025 Second Quarter call. We continued our business momentum and delivered profitable growth in the second quarter that exceeded our expectations. Total revenue increased 16% at a 35% adjusted to EBITDA margin. During the quarter, we expanded our relationships with existing customers, added new brand logos, and furthered our global reach. We are raising our full year outlook to reflect our positive second quarter performance. We are customer-obsessed at IAS. Our ongoing investment in AI infrastructure enables us to anticipate our customers' needs and drive demand in this rapidly evolving AI landscape. In the second quarter, we executed on our product priorities of performance, reach, and innovation as we enhanced our differentiated technology and grew our platform partnerships. Our performance products are driving efficiency and ROI for our customers. CTV is the fastest growing channel in terms of media spend according to eMarketer. Our publisher performance products for CTV were strong contributors in the second quarter. We are growing our international leadership position in CTV with our public products as we partner with major broadcasters globally. In the second quarter, we reached a two-year expansion and renewal with Samsung, a leader in the CTV space and our largest OEM partner. In EMEA, we won the ad-serving business of a major German publisher. In APAC, we signed Australia SBS, a public service broadcaster, for a strategic deal to monetize their live sports inventory focused on the 2026 FIFA World Cup. In addition, we continue to drive customer adoption of our vault offering built to increase bidding competition in CTV ad auctions. We are expanding our capabilities across channels to wherever brands activate their digital advertising. We added to our buy side offerings for CTV by expanding QualitySync or QSP into CTV inventory supply to support quality control and supply path insights for CTV. Advertisers now have access to a transparent view into where their ads are being delivered across all their CTV buys to enable them to find the most efficient pathways for their ad dollars. QSP is available across all major DSPs with strength in the second quarter on DV360, launched in the first quarter, and on Amazon DSP, launched late last year. QSP is part of Total Media Performance, or TMP, an AI-driven bundle of our leading measurement and optimization solutions. According to our study of a client campaign, our performance products delivered eight times more efficient eCPMs and nearly $9 in return on ad spend for every dollar spent on media over a four-month period. That's 93% higher than the customer's target. We continue to see strong demand for our products with significant room to grow with new and existing customers. In the second quarter, we secured several competitive wins. A global apparel company selected IES for our leading measurement products in the US. Our superior brand suitability classification technology and supply path transparency were deciding factors for the company. A luxury retailer switched to IES from an incumbent provider for our measurement and optimization solutions. We are excited to expand our leading presence in the luxury vertical after demonstrating the value, efficiency, and performance of our offerings. A major media and entertainment company selected IES to provide viewability, invalid traffic, and brand safety and suitability products. We won this customer as a result of our -in-class service and suitability offerings. We are also driving penetration across our product stack with existing customers. Volkswagen of America chose to adopt TMQ across the major social platforms in the US. This builds on our multi-year partnership with Volkswagen Group for our measurement and optimization offerings including QSP and total visibility. TMQ provides Volkswagen with transparency and efficiency across the social platforms helping to maximize return on ad spend while ensuring their protected. We have completely transformed our -to-head testing capabilities in the last 12 months. As a result, another major automotive company switched to IES following a competitive RFP process with our performance products. We were originally selected to provide our verification offerings in the US. We've now expanded this partnership to include QSP to drive improved outcomes for the brand while optimizing for safety. A leading financial services company expanded their relationship with IES to include social optimization in the second quarter. Our superior automation capabilities allowed this company to scale their needs across social environments while prioritizing performance. We are expanding our product reach through deeper integrations with our platform partners. In June, we launched new contextual category reporting for Meta platforms across Facebook and Instagram feed and reels. We are closing the loop for advertisers by aligning measurement reporting to contextual categories available through IES's -to-market content blockless optimization solution for Meta. During the quarter, we extended our track record of -to-market platform integrations on the strength of our leading AI-backed technology. In June, we announced a partnership with Lipps, enabling advertisers to validate the quality of their Lipps media buys with our viewability, invalid traffic, and brand safety measurement. As the first media quality measurement partner for Lipps media, we are trusted to ride along on every impression. This enables us to provide advertisers with greater transparency into their media buys through trusted and transparent metrics. In June, we announced a strategic partnership with Snap and Lumen Research to bring customized attention measurement to Snapchat. Snap attention measurement will now enable advertisers to directly and seamlessly gain social attention metrics, combining Lumen eye tracking and IES's AI-powered media quality data to create a bespoke Snapchat attention score within the IES signal platform. Our leading global presence is a clear differentiator and important contributor to our customer growth and retention. International accounts represented over 50% of adoption of our ramping pre-bid social optimization offering in the second quarter. Our performance products are purpose-built for mid-market customers and offer streamlined, self-serve, easy to activate solutions. We are excited to announce a partnership with StackAdapt, a mid-market focused technology company in advertising and marketing. We are integrating IES pre-bid avoidance and targeting within the StackAdapt DSP so brands of any size can remain confident that they are optimizing impressions with greater confidence and accuracy. In June, the IES team attended the CanLine Festival of Creativity where we unveiled new signal platform capabilities. The signal application platform offers customers a unified experience across activation, pre-bid optimization, and post-bid measurement encompassing open and closed ecosystems, CTV, and emerging channels. Recent enhancements enable mid-market customers to adopt measurement features via self-service. We are investing in new agentic and gen AI capabilities to accelerate activation and deliver actionable insights. At IES, we are scaling gen AI into our technology and product stack to drive innovation. Up to 97% of model validation has moved from humans in the loop to gen AI. Our AI labeling is now 29 times faster and 45% more precise than human annotators. We process 50 years of video content per day up from just two years of video less than 24 months ago. This heightened velocity and precision fuels premium products like total media quality, pre-bid social optimization, and our TMP bundled solution. Leveraging our AI models, we can now launch new suitability profiles quickly, detect new content risks at speed, and proactively build custom segments. These capabilities position IES as the industry's signal to what works when investing in digital advertising. Last week, we announced that we received the first ethical artificial intelligence certification from the Alliance for Audited Media. This certification sets IES apart for our use of AI and underscores our high standards of responsible and ethical AI across our measurement products and services. We are investing in top talent to amplify our innovation leadership and enhance our -to-market capabilities. In July, we appointed industry leader Carrie Seifer as executive vice president of global sales reporting into Mark Hrabowski COO. In conclusion, we execute on our strategic priorities in the second quarter and built on our growth momentum. Our investments in performance, reach, and innovation continue to drive results. We believe there is significant runway for growth as we scale product adoption, add new customers and partners, and deepen existing relationships. We were thrilled to welcome Alpana Wegner as our new CFO in June. Alpana brings over 25 years of financial leadership to IES, including significant public company experience. Alpana is off to a great start. We are excited to have her join today's call. I will now turn the call over to Alpana to review the financials and then we'll take your questions.