Zeta Global Holdings Corp.

Greetings and welcome to the Zeta first quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Matt Faw, Senior Vice President of Investor Relations. Thank you, sir. You may begin.

Thank you, operator. Hello, everyone, and thank you for joining us for Zeta's first quarter 2025 conference call. Today's presentation and Ernie's release are available on Zeta's investor relations website at investors.zetaglobal.com, where you will also find links to our SEC filings, along with other information about Zeta. Joining me on the call today are David Steinberg, Zeta's co-founder, chairman, and chief executive officer, and Chris Greiner, Zeta's chief financial officer. Before we begin, I'd like to remind everyone that statements made on this call, as well as in the presentation and earnings release, contain forward-looking statements regarding our financial outlook, business plans and objectives, and other future events and developments, including statements about the market potential of our products, potential competition, revenues of our products, and our goals and strategies. These statements are subject to risks and uncertainty that may cause actual results to differ materially from those projected. These risks and uncertainties include those described in the company's earnings release and other filings with the SEC and speak only as of today's date. In addition, our discussion today will include references to certain supplemental non-GAAP financial measures which should be considered in addition to and not as a substitute for our gap results. We use these non-gap measures in managing our business and believe they provide useful information for our investors. Reconciliations of the non-gap measures to the corresponding gap measures, where appropriate, can be found in the earnings presentation available on our website, as well as our earnings release and our other filings with the SECs. With that, I will now turn the call over to David.

Thank you, Matt. Good afternoon, everyone, and thank you for joining us today. 2025 began much like 2024 ended, with Zeta exceeding expectations and gaining share in a dynamic market. This marks our 15th consecutive quarter of beating and raising our guidance. reflecting the strength of our innovation, execution, and consistent delivery of customer value. While macro uncertainty has become more pronounced at the start of the second quarter, Zeta's value proposition continues to stand out, particularly in environments where marketers are under pressure to deliver measurable results and do more with less. Our omni-channel People-based artificial intelligence platform delivers both scale and precision, enabling marketers to target, personalize, measure, and optimize across owned and paid media more efficiently and effectively than alternative solutions. We proved the strength of our model during COVID-19 and the tech reset of 2022 by growing revenue by 20% in 2020 and 29% in 2022, despite challenging macro conditions. Our focus on delivering predictable, profitable, and measurable ROI is driving continued market share gains and has contributed to our strong first quarter results. In the first quarter of 2025, we generated revenue of $264 million, up 36% year over year, with adjusted EBITDA of $47 million, up 53% year over year, both well ahead of our guidance. Given our first quarter's outperformance, strong pipeline, and second quarter visibility, we are raising our second quarter and full year 2025 guidance. While our momentum supports a larger raise, we're taking a disciplined and conservative approach in light of the ongoing macro uncertainty. We believe one of the key reasons our business has remained resilient is our focus on performance-based outcomes and exposure primarily to lower funnel marketing. Let me share a few examples of existing superscaled customers that illustrate this. For a large telecommunications customer, we have consistently outperformed their benchmark for new customer acquisition cost, most recently beating their target by 53%. Our ability to be a repeatable, scalable solution has led to an increase in commitments, culminating in the recent signing of a two-year agreement that more than doubles their annual investment with Zeta. For a major insurance provider, we helped drive 37% lower new customer acquisition cost versus their 2024 target. We expect this success to drive a 50% increase in spend with us this year. For a financial institution, we beat their target new customer acquisition cost by 14% in 2024, and the customer is expected to increase their spend in 2025 by close to 20% after a nearly 150% increase in 2024. Importantly, these results are not self-scored. They're validated either directly by our customer or through third-party attribution methods. Now let's talk about one of our biggest long-term drivers, artificial intelligence. This quarter, we launched AI Agent Studio, a suite of generative AI tools that enable users to select and activate rebuilt agents, create custom agents, and link them together to execute complex marketing tasks. As a part of AI Agent Studio, we also announced agentic workflows, which were available in beta. Agentic workflows give marketers the ability to build and customize AI agents that work together to complete complex tasks across the entire customer journey. Unlike generic tools, agentic workflows are flexible and adaptive, making AI not only actionable but also potentially transformational to a marketer's productivity. Here is a real-world example of how a customer uses our agentic workflows. The customer needed a multi-agent workflow to identify high-value audiences and activate to them across multiple channels. With one prompt, this workflow coordinates intelligent agents to speed up planning and execution. Through this workflow, our insights agent finds target audience segments. The strategy agent crafts the messaging and personas and the activation agent deploys the marketing to multiple channels. This process streamlines collaboration, reduces time from insight to execution, enhances precision, and creates meaningful return on investment all within a single AI-powered workflow. Now I'd like to provide an update on our agency business, which is seeing great momentum to the start of the year. I'll begin with an update on our efforts with independent agencies. We executed and platformed two new independent agencies in the first quarter and are finalizing agreements with two additional ones, proving early traction in a market with over 1,000 potential prospects. We also experienced solid year-over-year growth with large holding companies in the first quarter. For our holding company customers, we believe Zeta is by far one of their most profitable partners, which is important in good times, but even more important during challenging times. Agencies choose to partner and expand with Zeta not only because we drive efficiencies in their businesses, but also because our platform offers advantages that assist in securing new business. For example, one of the independent agencies we platformed in the first quarter used our retail audience intelligence to support its pitch to a prospective new customer. Zeta's deterministic attribution capabilities were a key differentiator, providing a level of measurement that the agency had not previously been able to offer. These capabilities help the agency secure the customer's business, which in turn creates additional revenue opportunities for Zeta, a true win-win-win. At Zeta, we have faced challenging macro times before and emerged stronger by controlling the controllable, how we think, how we act, how we deliver value for our customers. In the end, execution is the difference between surviving uncertainty and thriving through it. As always, I would like to sincerely thank our customers, our partners, Team Zeta, and all our shareholders for the ongoing support of our vision. Now let me turn it over to Chris to discuss our results in greater detail. Chris?