comScore, Inc.

Good day, and thank you for standing by. Welcome to the CommScore First Quarter 2025 Financial Results 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 the session, you will 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 hand the conference over to your first speaker today, John Tinker, Head of Investor Relations. Please go ahead.

Thank you, Operator. Before we begin our prepared remarks, I'd like to remind all of you that the following discussion contains forward-looking statements. These forward-looking statements include comments about our plans, expectations, and prospects and are based on our view as of today, May 6, 2025. Our actual results in future periods may differ materially from those currently expected because of a number of risks and uncertainties. These risks and uncertainties include those outlined in our 10-K, 10-Q, and other filings with the SEC, which you can find on our website or at www.sec.gov. We disclaim any duty or obligation to update our forward-looking statements to reflect new information after today's calls. We will be discussing non-GAAP measures during this call, to which we have provided reconciliations in today's press release and on our website. Please note that we will be referring to slides on this call, which are also available on our website, www.comscore.com, under Investor Relations Events and Presentations. I'll now turn the call over to Comscore's Chief Executive Officer, John Carpenter. John.

All right. Thanks, everyone, for joining us this evening. In the first quarter, we continued to make progress in the areas of our business critical to our strategy. We delivered another quarter of double-digit growth in cross-platform, coupled with strong results in local, which came on the back of key renewals and new business wins, fueling double-digit growth versus the same quarter a year ago. In addition, we earned another accreditation from the MRC, this time for our demos as part of our Comscore TV measurement offerings. For those keeping score, Comscore remains the only TV measurement solution in market that meets the MRC standards for both local and national TV measurement. No other measurement player in the market can say that, and I'm incredibly proud of the work our team has done to get us to this point. We also launched our cross-platform content measurement solution in January, giving clients an omni-channel view of how audiences are engaging with content regardless of where it's consumed, across linear, streaming, social, or the open web, setting ComScore up as the one-stop shop for cross-platform audience insights and measurement. Since launching in January, we are already seeing client adoption and are encouraged by the pipeline that is emerging as we progress through the year. With regards to our operational execution, we have made meaningful progress in addressing legacy workflows, and technical debt which has allowed us to deliver for our clients with greater speed and less friction. Those efforts are also contributing to year-over-year improvements in our adjusted EBITDA. While I'm encouraged by the progress we are making, it's also clear we're operating in a macro environment that has become, at best, uncertain. That uncertainty has an impact, broadly speaking, on ad spend. And when the market is healthy, digital ad spend flourishes, in part because it's easy to transact. That ease of transaction also makes it an easy thing to pause as uncertainty grows and advertisers exercise more caution with their spending commitments. As we progressed through the first quarter, we started to see signs of advertisers in certain categories taking a more cautious approach, which was a factor down the stretch in terms of our overall print in the quarter, specifically in our cross-platform solution group. As Mary Margaret will highlight, we have factored this into our view of Q2 revenues, and while our cross-platform products are performing well, we remain guarded with our expectations given the macro uncertainty that we're seeing. On the quarter, the revenue print was largely on track with the guidance we provided on our last call. Revenue of just about $86 million with double-digit growth in both cross-platform and local. We continue to make progress with our agency clients and the overall goal of driving greater adoption of our offerings, particularly for use in TV currency transactions. We expect that adoption to continue to ramp throughout the year. On adjusted EBITDA, I continue to be encouraged by the progress the team is making. For the quarter, the $7.4 million on adjusted EBITDA came in where we expected it to, up year over year, helping us get off to a solid start. As we look at the full year, on our last call, we talked about two key drivers for us this year, cross-platform growth and building on our strength in TV currency. We saw ample evidence in the first quarter of those things playing out. Within our linear currency business, we've seen continued engagement from agencies as they adopt Comscore as a currency for their campaigns. Across national and local TV, media buys transacted on Comscore currency help drive solid results, particularly in local and our team is working hard to make sure that continues. Within cross-platform, there are two key items that I'd like to highlight. As I mentioned earlier, the rollout of our cross-platform content measurement product has been encouraging, and it's clear that we're addressing an unmet need for our clients. Another item I'm excited about is an announcement we made yesterday. Comscore certified deal IDs made available in our partnership with Magnite. This offering leverages Comscore's trusted content rankings to deliver an automated curation solution that lets advertisers target independently vetted, high-quality content and avoid wasted ad spend. While programmatic advertising has improved efficiency and targeting for advertisers, it has also created some challenges and frustrations for them. One of those frustrations has been paying for ads to run along side low quality or even made for advertising content, wasting ad dollars in the process. Comscore certified deal IDs, alongside our AI-enabled predictive audience solution deployed inside Magnite, helps advertisers run more effective campaigns and deliver a higher return on their ad spend. We're incredibly excited about these developments. And with that, let me turn it over to Mary Margaret to delve into the details of the first quarter. Mary Margaret?