Welcome, and thank you for joining us for Taboola's 2026 Annual General Meeting of the shareholders. I'm Adam Singolda, Founder and CEO, and a director of Taboola. I will serve as chair of this annual meeting, which I now call to order. Today's meeting is being held in an all-virtual format. Our formal agenda will start shortly after some brief introductions. After the introductions of the formal agenda, we'll provide a brief business overview and conduct a virtual Q&A session, including with respect to the company's 2025 financial statements, as required by the Israeli company law. Our 2025 financials results are available for review on the annual meeting website. First, I would like to thank the members of the company's Board of Directors who have joined us today. I would also like to introduce the following company's officers joining us, Steve Walker, Chief Financial Officer, and Blythe Holden, General Counsel and Corporate Secretary. With that, I now turn it over to our General Counsel and Corporate Secretary, Blythe Holden, who will take us through the formal agenda for the business being conducted at today's meeting. Thank you, Adam. Today's meeting is being held pursuant to a notice included with the 2026 proxy statement that was first made available to shareholders on or about April 30th, 2026. Our official tabulation agent for the meeting, who also serves as a transfer agent for our ordinary shares, Broadridge Financial Solutions, has advised us that at least 33.3% of the voting power of the company's ordinary shares are represented here today. We have a quorum, and we can proceed with the business of the meeting. A list of the holders of the company's ordinary shares at the close of business on April 13, 2026, the record date for this meeting, is available on the meeting website for inspection by any shareholder of record during the meeting, and it will also be filed with the records of the meeting. I would now like to turn to the voting procedures. Only shareholders as of the close of business on April 13th, 2026, the record date, are entitled to vote. For registered holders, if you've already submitted a proxy, you do not need to vote again unless you wish to change your vote. Your vote will be counted automatically without any further action on your part. If you're a registered holder and have not yet submitted a proxy, or if you'd like to change your vote, you may do so through the virtual meeting web portal by clicking on the Vote Here button on your screen and following the instructions. If your shares are held in street name, the voting instructions you provided to your broker will be followed. Once all items of business have been addressed and shareholders have been provided an opportunity to submit their votes online, the chair will close the polls for voting. The final vote totals will not be known until all the results are certified after the meeting. Once certified, the voting results will be reported by the company in a Form 8-K to be filed with the Securities and Exchange Commission. The polls are now open, and you may vote at any time during our discussion of the proposals on the agenda, and the polls will close after the last proposal has been presented. There are five items listed in the notice for shareholder action at today's meeting. The first item of business is the election of two Class II directors to serve until the 2029 Annual General Meeting of shareholders and until their successor is duly elected and qualified. The director nominees named in the company's proxy statement standing for re-election are Nechemia Peres and Gilad Shany. You can find additional information about Mr. Peres and Shany in the proxy statement. In accordance with the articles of association of the company, shareholders are required to provide advance notice of their intent to nominate candidates for directors. No such notice was received. Therefore, the nominee directors named in the company's proxy statement are the only individuals eligible for election at today's meeting. The Board of Directors unanimously votes for the named nominees. The second item of business is the advisory proposal on executive compensation for the company's named executive officers, as set forth in the proxy statement for today's meeting. The Board of Directors recommend to vote for this proposal. The third item of business is the approval of the compensation policy for the company's executive officers and directors for a period of three years, as explained in detail in the proxy statement for today's meeting. The Board of Directors recommends a vote for this proposal. The fourth item of business is the approval of compensation terms for our Chief Executive Officer and director, Mr. Adam Singolda, for a period of three years. The Board of Directors recommends a vote for this proposal. The fifth and final item of business is to reappoint Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, as the company's independent registered public accounting firm for the year ending December 31st, 2026. As Ari Aslan and Doron Avraham, representatives of EY, are with us today and available to respond to any questions you may have during the question and answer session following the business of the meeting. The Board of Directors recommends a vote for this proposal. That concludes all the items on the agenda for shareholder action at this meeting. The polls have been open during this time and are about to be closed. Any registered shareholder who has not yet voted or wishes to change their vote should click now on the Vote Here button on your screen. Shareholders who have sent in proxies or voted via telephone or the internet do not need to take any further action unless they want to change their vote. We will pause for a moment to allow shareholders a last opportunity to submit their votes. I would now like to turn the meeting back over to Adam. Thank you, Blythe. Now that everyone has had the opportunity to vote, I declare the polls closed for the 2026 Annual General Meeting of shareholders. The initial results indicate that Nechemia Peres and Gilad Shany have been reelected as directors by the shareholders. The advisory vote on executive compensation has been approved by the shareholders by a majority of the votes cast at the meeting. The compensation policy for the company's executives and directors has been approved for a period of three years by a majority of disinterested shareholders. The compensation terms for our Chief Executive Officer and Director, Mr. Adam Singolda, has been approved by the shareholders by a majority of votes cast at the meeting. The reappointment of Kost Forer Gabbay & Kasierer as the company's independent registered public accounting firm for the year ending December 31st, 2026, has been approved by the shareholders by a majority of the votes cast at the meeting. I hereby request that the final tabulation report be filed with the minutes of this meeting. Before we begin responding to questions, I would like to take a few minutes to provide a brief overview of our business. Thank you, Adam. Before we proceed to Adam's remarks, please note certain statements today, including our expectations for future periods, are forward-looking statements. They are not facts and are subject to material risks and uncertainties described in our SEC filings. These statements are based on currently available information. We undertake no duty to update them except as required by law. Events could differ materially and adversely from those anticipated. Any mention of our guidance today is for the convenience of listeners only and should not be considered a reaffirmation of publication of guidance as of today. Additionally, certain financial metrics referenced today are non-GAAP financial measures. Reconciliations and explanations of these non-GAAP measures can be found on our investor relations website at investors.taboola.com. I'll now hand the meeting over to Adam. Thank you, [Adam]. Moving on to the discussion of our business. I'd like to provide everyone a brief summary of our market opportunity, who we are, and why we believe we can win. Taboola is one of the largest performance advertising companies outside of search and social, referred to as the open web. Similar to how Google and Meta understand intent within their own platforms, Taboola understands intent across the billions of consumers who read, watch, and engage with trusted OEMs, apps, and publishers across the open web. We then convert these signals into profitable and measurable outcomes for advertisers. That proprietary intent data and the AI-driven conversion machine we've built, that is Taboola. In a world where AI is evolving quickly, I believe the winners will be those that either have unique data that LLMs cannot get or access to unique supply and distribution. Taboola has both. We started the year strong with the first quarter results exceeding the high end of our guidance across all metrics. In Q1, we reported revenues of $466.4 million, which is an increase of 9% year-over-year. Ex-TAC gross profit of $168.1 million, an 11% increase year-over-year. Adjusted EBITDA of $26.7 million, representing 16% margin. To execute on our mission in 2026, we are focused on three main priorities. First, investing in our technology to continue to advance Realize as we continue to expand our strategy to become the leading performance advertising company outside of search and social. We're investing heavily in AI-driven optimization, predictive targeting, onboarding automation, and stronger measurement and attribution to make the platform even more intelligent and easier to adopt, while directing budgets towards the best performing opportunities. We recently introduced Realize+, our agentic framework for advertisers. For those who prefer full automation, they can provide a budget and objective, Realize+ will manage audience targeting, creative generation, placements, and continuous optimization. Our second priority is go to market, where we're building a more repeatable engine to grow our share of advertiser budgets. The foundation of this strategy is verticalizing our sales team by industry and focusing on clearly defined ideal customer profiles, ICPs. For Taboola, these ICPs are performance-oriented advertisers who prioritize measurable outcomes, require scalable customer acquisition, and operate in mid- to low-funnel categories such as travel, healthcare, auto, personal finance, and more. By aligning our verticalized teams to these ICPs, we develop deeper expertise, execute faster, and stay focused on delivering advertiser outcomes. Lastly, strengthening our brand. We're shaping our brand to be recognized as an AI-driven performance platform. It's an exciting time for Taboola, we look forward to updating you on the progress throughout the year. With that, let's move to Q&A. At this time, I'd like to open the meeting to any questions that shareholders may have, including with respect to the company's full year 2025 financial results, which, as previously mentioned, are made available for review at the annual meeting website. You can submit a question by typing your question in the Ask a Question field on your screen and clicking Submit. As described in the rules of conduct, each shareholder is limited to two questions, and questions must conform to the guidelines set forth in the rules of conduct in order to be addressed. Similar questions may be combined so that we may answer questions on a variety of topics. Due to time constraints, we may not be able to answer all the questions. Thank you in advance for your cooperation. There being no questions or further business items to address, I will turn the meeting back over to the chair. Adam? Thank you, Blythe, thank you all for participating today. The 2026 Annual General Meeting of Shareholders is now adjourned.
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