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LAS Integral Integral Ad Science Reports Second Quarter 2021 Financial Results August 12 , 2021 Total revenue increased 55 % year - over - year to $ 75.1 million ; programmatic revenue increased 94 % to $ 31.8 million NEW YORK , Aug. 12 , 2021 / PRNewswire / -- Integral Ad Science Holding Corp. ( " IAS " ) ( Nasdaq : IAS ) , a global leader in digital media quality , today announced financial results for the second quarter ended June 30 , 2021 . LAS Integral Ad Science " IAS delivered record performance in the second quarter driven by continued growth in both advertiser direct and programmatic revenue . We also achieved a significant milestone this quarter with our successful IPO , advancing our position as the global benchmark for trust and transparency in digital media quality , " said Lisa Utzschneider , CEO of IAS . " More customers are partnering with IAS to make every impression count in key growth areas including programmatic , social , connected TV ( CTV ) , and international markets . Earlier this week , we announced our acquisition of Publica , the CTV advertising platform . By acquiring Publica , we are demonstrating our commitment to leading the future of digital media quality in CTV . " Second Quarter 2021 Financial Highlights • Total revenue was $ 75.1 million , a 55 % increase compared to $ 48.3 million in the second quarter of 2020 , which was significantly impacted by the Covid - 19 pandemic . • Advertiser direct revenue was $ 35.3 million , a 40 % increase compared to $ 25.1 million in the prior - year period . • Programmatic revenue was $ 31.8 million , a 94 % increase compared to $ 16.4 million in the prior - year period . • Supply side revenue increased to $ 8.0 million compared to $ 6.8 million in the prior - year period . • International revenue ( excluding the Americas ) was $ 29.6 million , a 58 % increase compared to $ 18.7 million in the prior - year period , or approximately 40 % of total revenue . • Gross profit was $ 62.2 million , a 57 % increase compared to $ 39.6 million in the prior - year - period . Gross profit margin was 83 % compared to 82 % in the prior - year period . • Net loss was $ 35.1 million , or $ 0.26 per share , compared to a loss of $ 16.5 million , or $ 0.12 per share , in the prior - year - period . • Adjusted EBITDA * increased to $ 25.7 million compared to $ 3.8 million in the prior - year period . Adjusted EBITDA * margin increased to 34 % compared to 8 % in the prior - year - period . • Cash and cash equivalents were $ 73.2 million at June 30 , 2021. Following the second quarter , IAS closed its initial public offering ( IPO ) on July 2 , 2021 raising net proceeds of over $ 244 million . In addition , IAS closed an additional $ 31 million from the exercise of the underwriters ' option , aggregating approximately $ 275 million in total proceeds . * See " Supplemental Disclosure Regarding Non - GAAP Financial Information " section herein for an explanation of these measures . Recent Business Highlights Ad Science • IAS announced it acquired Publica , the CTV advertising platform , in a cash and stock transaction valued at $ 220 million . With this acquisition , IAS will help publishers better monetize their video programming across CTV devices . • IAS and TikTok have launched a brand safety beta , providing advertisers with industry - leading controls aligned with Global Alliance for Responsible Media ( GARM ) standards for in - feed video . The new global solution uses proprietary frame - by - frame video , audio , and text classification technology specifically designed for social environments allowing advertisers to confidently promote their brands on TikTok . • IAS released five research studies this quarter , including its anticipated H2 2020 Media Quality Report ( MQR ) , which shared unique insights extracted from the trillions of data events the company measures monthly . The report showed that in the second half of 2020 , brand risk increased worldwide , while global fraud rates among optimized campaigns dropped below 1 % , indicating the demand for and value of digital ad verification solutions . • LinkedIn and IAS are expanding their partnership adding Viewability and Invalid traffic measurement for LinkedIn owned and operated video inventory . Financial Outlook " Our investments in product innovation and international growth are delivering results for our customers and contributed to our strong performance in the second quarter , " said Joe Pergola , CFO of IAS . " Our three revenue streams posted solid growth with programmatic representing 42 % of total second quarter revenue compared to 34 % in the prior - year - period . Moving forward , we expect to further develop our high - growth areas and expand our global footprint while maintaining strong profitability . " IAS is introducing the following financial guidance for the third quarter of 2021 and full year , which includes the anticipated contribution from the Publica acquisition : Quarter Ending September 30 , 2021 : • Total revenue in the range of $ 74 million to $ 76 million • Adjusted EBITDA * in the range of $ 16 million to $ 18 million Year Ending December 31 , 2021 : • Total revenue in the range of $ 308 million to $ 312 million • Adjusted EBITDA * in the range of $ 87 million to $ 91 million ( IN THOUSANDS , EXCEPT PER UNIT AND SHARE DATA ) ASSETS Current assets : Cash and cash equivalents Restricted cash Accounts receivable , net Unbilled receivables Prepaid expenses and other current assets Total current assets Property and equipment , net Internal use software , net Intangible assets , net Goodwill Deferred revenue Other long term assets Total assets LIABILITIES AND MEMBERS ' / STOCKHOLDERS ' EQUITY Current liabilities : Accounts payable and accrued expenses Due to related party Capital leases payable Total current liabilities Accrued rent Net deferred tax liability Integral Ad Science Holding Corp. Condensed Consolidated Balance Sheets ( Unaudited ) June 30 , 2021 $ $ $ 73,234 75 41,491 25,246 12,701 152,747 1,495 16,918 218,820 458,276 4,057 852,313 44,732 67 105 754 45,658 1,913 18,808 December 31 , 2020 $ $ $ 51,734 187 45,418 28,083 4,101 129,523 2,243 12,322 243,348 458,586 3,557 849,579 38,789 150 325 1,144 40,408 1,827 24,794