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IAS Reports Third Quarter 2024 Financial Results

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2 days ago

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Total revenue increased 11% to $133.5 million

Net income of $16.1 million at a 12% margin; adjusted EBITDA increased to $50.6 million at a 38% margin 

NEW YORK, Nov. 12, 2024 /PRNewswire/ — Integral Ad Science Holding Corp. (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced financial results for the third quarter ended September 30, 2024.

“We increased revenue at a double-digit rate in the third quarter, driven by our industry-leading products and the contribution from new customers, with strong adjusted EBITDA performance,” said Lisa Utzschneider, CEO of IAS. “We are excited about several new logo wins and the C-level executives we have added to our team. Our focus remains on driving product innovation and leveraging AI to deliver superior value for our customers. We were delighted to announce our first-to-market optimization solution for Meta in October.”

Third Quarter 2024 Financial Highlights

Total revenue was $133.5 million, an 11% increase compared to $120.3 million in the prior-year period.Optimization revenue was $61.1 million, a 7% increase compared to $57.0 million in the prior-year period.Measurement revenue was $52.9 million, an 11% increase compared to $47.8 million in the prior-year period.Publisher revenue was $19.5 million, a 26% increase compared to $15.5 million in the prior-year period.International revenue, excluding the Americas, was $40.8 million, an 11% increase compared to $36.9 million in the prior-year period, or 31% of total revenue for the third quarter of 2024.Gross profit was $106.2 million, a 12% increase compared to $94.7 million in the prior-year period. Gross profit margin was 80% for the third quarter of 2024.Net income was $16.1 million, or $0.10 per share, compared to a net loss of $13.7 million, or $0.09 per share, in the prior-year period. Net income margin was 12% for the third quarter of 2024.Adjusted EBITDA* was $50.6 million, a 25% increase compared to $40.6 million in the prior-year period. Adjusted EBITDA* margin was 38% for the third quarter of 2024.Cash and cash equivalents were $57.1 million at September 30, 2024.

Recent Business Highlights

C-Level Appointments – In September, IAS announced that Marc Grabowski was appointed as Chief Operating Officer from his previous role as Global VP of Oracle Advertising. Srishti Gupta joined as Chief Product Officer from Rokt where she served as Chief Product Officer. She was previously Director of Ads Measurement at Amazon.First-to-Market Meta Optimization Solution – In October, IAS announced the testing of first-to-market availability pre-bid optimization solutions for IAS’s current advertisers on Meta. Social Optimization for Content Block Lists enable advertisers to ensure that better impressions are delivered to brand suitable ad adjacencies. This solution empowers advertisers with proactive pre-screen capabilities at the content level on Facebook and Instagram.TikTok Partnership Expansion – In October, IAS expanded its Total Media Quality (TMQ) offering for TikTok to include viewability, invalid traffic, and brand safety and suitability measurement for advertisers across TikTok’s newly available ad placements within the Profile, Search, Following Feeds and TikTok Lite.Misinformation Detection Launch on YouTube – In September, IAS announced the expansion of its TMQ offering on YouTube to include its industry-aligned misinformation brand safety and suitability reporting for advertisers running campaigns across YouTube ad inventory. IAS can now detect content across YouTube that it identifies as misinformation, enabling advertisers to further verify the safety and suitability of their digital media investments on YouTube.Google Ad Manager Partnership – In November, IAS announced the launch of IAS Curation with Google Ad Manager. IAS now offers programmatic buyers a deal-based enrichment pathway designed to curate inventory at the source. IAS Curation empowers advertisers with actionable data to activate avoidance and contextual targeting strategies across media buys at scale for Google Ad Manager.Quality Attention Expansion to Publishers and SSPs – In October, IAS announced the availability of Quality Attention for publishers and sell-side platforms (SSPs). IAS’s Quality Attention metrics and scores, previously available only to advertisers, help publishers improve yield optimization and drive revenue opportunities.

Financial Outlook

“We reported revenue growth of 11% and an adjusted EBITDA margin of 38% for the period,” said Tania Secor, CFO of IAS. “With healthy cash flows and low debt, we will continue to invest in the business to support our growth. Our updated financial outlook for the full year reflects our third quarter performance and anticipated advertising demand in the fourth quarter.”

IAS is providing the following financial outlook for the fourth quarter of 2024 and updating its full year 2024 revenue and adjusted EBITDA outlook:

Fourth Quarter Ending December 31, 2024:

Total revenue of $148 million to $150 millionAdjusted EBITDA* of $55 million to $57 million

Year Ending December 31, 2024:

Total revenue of $525 million to $527 millionAdjusted EBITDA* of $185 million to $187 million

* See “Supplemental Disclosure Regarding Non-GAAP Financial Information” section herein for an explanation of these measures. IAS is unable to provide a reconciliation for forward-looking guidance of adjusted EBITDA and corresponding margin to net income (loss), the most closely comparable GAAP measures without unreasonable effort, because certain material reconciling items, such as depreciation and amortization, interest expense, income tax expense (benefit) and acquisition, restructuring and integration expenses, cannot be estimated due to factors outside of IAS’s control and could have a material impact on the reported results. However, IAS estimates stock-based compensation expense for the fourth quarter of 2024 in the range of $15 million to $16 million and for the full year 2024 in the range of $62 million to $63 million.

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(IN THOUSANDS, EXCEPT SHARE DATA)

September 30,
2024

December 31,
2023

ASSETS

Current assets:

Cash and cash equivalents

$         57,085

$      124,759

Restricted cash

170

54

Accounts receivable, net

81,168

74,609

Unbilled receivables

48,421

46,548

Prepaid expenses and other current assets

38,030

18,959

Total current assets

224,874

264,929

Property and equipment, net

4,077

3,769

Internal use software, net

51,546

40,301

Intangible assets, net

150,618

178,908

Goodwill

675,538

675,282

Operating lease right-of-use assets

20,472

21,668

Deferred tax asset, net

2,544

2,465

Other long-term assets

5,029

4,402

Total assets

$    1,134,698

$   1,191,724

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable and accrued expenses

$         48,874

$        72,232

Operating lease liability

10,242

9,435

Due to related party

2

121

Deferred revenue

1,454

682

Total current liabilities

60,572

82,470

Deferred tax liability, net

4,989

20,367

Long-term debt, net

64,073

153,725

Operating lease liabilities, non-current

16,391

19,523

Other long-term liabilities

6,186

6,183

Total liabilities

152,211

282,268

Commitments and Contingencies (Note 13)

Stockholders’ Equity

Preferred Stock, $0.001 par value, 50,000,000 shares authorized at September 30, 2024;

0 shares issued and outstanding at September 30, 2024 and December 31, 2023.

–

–

Common Stock, $0.001 par value, 500,000,000 shares authorized, 161,955,151 and

158,757,620 shares issued and outstanding at September 30, 2024 and December 31,

2023, respectively.

162

159

Additional paid-in-capital

952,123

901,259

Accumulated other comprehensive loss

(1,276)

(916)

Retained earnings

31,478

8,954

Total stockholders’ equity

982,487

909,456

Total liabilities and stockholders’ equity

$    1,134,698

$   1,191,724

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

Three Months Ended September 30,

Nine Months Ended September 30,

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

2024

2023

2024

2023

Revenue

$      133,528

$      120,331

$      377,063

$      340,074

Operating expenses:

Cost of revenue (excluding depreciation and amortization

shown below)

27,373

25,599

80,628

71,100

Sales and marketing

30,144

29,604

91,541

87,566

Technology and development

16,840

17,211

52,305

53,850

General and administrative

25,348

22,611

71,407

85,673

Depreciation and amortization

16,243

14,027

47,032

40,373

Foreign exchange (gain) loss, net

(2,607)

2,078

(723)

931

Total operating expenses

113,341

111,130

342,190

339,493

Operating income

20,187

9,201

34,873

581

Interest expense, net

(1,325)

(3,109)

(4,787)

(9,747)

Net income (loss) before income taxes

18,862

6,092

30,086

(9,166)

(Provision) benefit for income taxes

(2,773)

(19,841)

(7,562)

6,240

Net income (loss)

$      16,089

$     (13,749)

$      22,524

$       (2,926)

Net income (loss) per share – basic and diluted

$          0.10

$         (0.09)

$          0.14

$         (0.02)

Weighted average shares outstanding:

Basic

161,663,506

157,055,904

160,528,610

157,691,005

Diluted

165,084,108

157,055,904

164,635,076

157,691,005

Other comprehensive income (loss):

    Foreign currency translation adjustments

892

(1,717)

(360)

(789)

Total comprehensive income (loss)

$      16,981

$     (15,466)

$      22,164

$       (3,715)

 

Stock-Based Compensation  

(UNAUDITED)

Three Months Ended
 September 30,

Nine Months Ended
 September 30,

(IN THOUSANDS)

2024

2023

2024

2023

Cost of revenue

$      80

$     118

$     286

$     328

Sales and marketing

4,829

5,714

14,002

17,859

Technology and development

4,941

2,902

14,139

13,434

General and administrative

6,593

5,166

18,758

34,020

Total stock-based compensation

$16,443

$13,900

$47,185

$65,641

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(UNAUDITED)

Three Months Ended September 30, 2024

Common Stock

(IN THOUSANDS, EXCEPT SHARES)

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
loss

Retained
earnings

Total
stockholders’
equity

Balance, June 30, 2024

160,786,740

$   161

$934,194

$             (2,168)

$         15,389

$      947,576

RSUs and MSUs vested

995,796

1

–

–

–

1

ESPP purchase

172,615

–

1,478

–

–

1,478

Stock-based compensation

–

–

16,451

–

–

16,451

Foreign currency translation adjustment

–

–

–

892

–

892

Net income

–

–

–

–

16,089

16,089

Balance, September 30, 2024

161,955,151

$   162

$952,123

$             (1,276)

$         31,478

$      982,487

Nine Months Ended September 30, 2024

Common Stock

(IN THOUSANDS, EXCEPT SHARES)

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
loss

Retained
earnings

Total
stockholders’
equity

Balance, December 31, 2023

158,757,620

$   159

$901,259

$                (916)

$           8,954

$      909,456

RSUs and MSUs vested

2,827,628

3

–

–

–

3

Option exercises

44,049

–

313

–

–

313

ESPP purchase

325,854

–

3,373

–

–

3,373

Stock-based compensation

–

–

47,178

–

–

47,178

Foreign currency translation adjustment

–

–

–

(360)

–

(360)

Net income

–

–

–

–

22,524

22,524

Balance, September 30, 2024

161,955,151

$   162

$952,123

$             (1,276)

$         31,478

$      982,487

Three Months Ended September 30, 2023

Common Stock

(IN THOUSANDS, EXCEPT SHARES)

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
loss

Retained
earnings
(accumulated
deficit)

Total
stockholders’
equity

Balance, June 30, 2023

156,279,075

$   156

$867,490

$             (1,971)

$         12,539

$      878,214

RSUs and MSUs vested

1,102,702

1

–

–

–

1

Option exercises

53,748

1

590

–

–

591

ESPP purchase

162,406

–

1,424

–

–

1,424

Stock-based compensation

–

–

13,882

–

–

13,882

Foreign currency translation adjustment

–

–

–

(1,717)

–

(1,717)

Net loss

–

–

–

–

(13,749)

(13,749)

Balance, September 30, 2023

157,597,931

$   158

$883,386

$             (3,688)

$         (1,210)

$      878,646

Nine Months Ended September 30, 2023

Common Stock

(IN THOUSANDS, EXCEPT SHARES)

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
loss

Retained
earnings
(accumulated
deficit)

Total
stockholders’
equity

Balance, December 31, 2022

153,990,128

$   154

$810,186

$             (2,899)

$              775

$      808,216

RSUs and MSUs vested

2,692,984

3

–

–

–

3

Option exercises

641,250

1

5,583

–

–

5,584

ESPP purchase

273,569

–

2,306

–

–

2,306

Stock-based compensation

–

–

65,311

–

–

65,311

Foreign currency translation adjustment

–

–

–

(789)

–

(789)

Adoption of ASC 326, net of tax

–

–

–

–

941

941

Net loss

–

–

–

–

(2,926)

(2,926)

Balance, September 30, 2023

157,597,931

$   158

$883,386

$             (3,688)

$         (1,210)

$      878,646

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

Nine Months Ended September 30,

(IN THOUSANDS)

2024

2023

Cash flows from operating activities:

Net income (loss)

$22,524

$  (2,926)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

47,032

40,373

Stock-based compensation

47,185

65,641

Foreign currency (gain) loss, net

(1,775)

571

Deferred tax benefit

(15,457)

(17,974)

Amortization of debt issuance costs

348

348

Allowance for credit losses

949

2,223

Impairment of assets

37

–

Changes in operating assets and liabilities:

Increase in accounts receivable

(7,028)

(19,936)

Increase in unbilled receivables

(1,723)

(370)

(Increase) decrease in prepaid expenses and other current assets

(18,668)

5,851

(Increase) decrease in operating leases, net

(1,169)

139

Increase in other long-term assets

(696)

(27)

(Decrease) increase in accounts payable and accrued expenses and other long-term liabilities

(21,958)

148

Increase in deferred revenue

768

150

Decrease in due to/from related party

(119)

(93)

Net cash provided by operating activities

50,250

74,118

Cash flows from investing activities:

Purchase of property and equipment

(1,594)

(1,954)

Development of internal use software and other

(28,868)

(23,539)

Net cash used in investing activities

(30,462)

(25,493)

Cash flows from financing activities:

Proceeds from the Revolver

–

75,000

Repayment of long-term debt

(90,000)

(125,000)

Proceeds from exercise of stock options

313

5,584

Cash received from Employee Stock Purchase Program

2,329

2,236

Net cash used in financing activities

(87,358)

(42,180)

Net (decrease) increase in cash, cash equivalents, and restricted cash

(67,570)

6,445

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(113)

(1,330)

Cash, cash equivalents and restricted cash at beginning of period

127,290

89,671

Cash, cash equivalents, and restricted cash, at end of period

$59,607

$ 94,786

Supplemental Disclosures:

Net cash paid during the period for:

Interest

$  4,613

$   8,880

Taxes

$29,942

$ 10,361

Non-cash investing and financing activities:

Property and equipment acquired included in accounts payable

$      47

$        17

Internal use software acquired included in accounts payable

$     966

$   1,012

Lease liabilities arising from right of use assets

$  6,110

$   4,832

Supplemental Disclosure Regarding Non-GAAP Financial Information

We use supplemental measures of our performance, which are derived from our consolidated financial information, but which are not presented in our consolidated financial statements prepared in accordance with GAAP. Adjusted EBITDA is the primary financial performance measure used by management to evaluate our business and monitor ongoing results of operations. Adjusted EBITDA is defined as income before depreciation and amortization, stock-based compensation, interest expense, income taxes, acquisition, restructuring and integration costs, foreign exchange gain, net, asset impairments, and other one-time, non-recurring costs. Adjusted EBITDA margin represents the adjusted EBITDA for the applicable period divided by the revenue for that period presented in accordance with GAAP.

We use non-GAAP financial measures to supplement financial information presented on a GAAP basis. We believe that excluding certain items from our GAAP results allows management to better understand our consolidated financial performance from period to period and better project our future consolidated financial performance as forecasts are developed at a level of detail different from that used to prepare GAAP-based financial measures. Moreover, we believe these non-GAAP financial measures provide our shareholders with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons. Although we believe these measures are useful to investors and analysts for the same reasons they are useful to management, as discussed below, these measures are not a substitute for, or superior to, U.S. GAAP financial measures or disclosures. Our non-GAAP financial measures may not be comparable to similarly titled measures of other companies. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes.

Reconciliations of historical adjusted EBITDA to its most directly comparable GAAP financial measure, net income/loss, are presented below. We encourage you to review the reconciliations in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. In future fiscal periods, we may exclude such items and may incur income and expenses similar to these excluded items.

Reconciliation of Adjusted EBITDA

Three Months Ended
September 30,

Nine Months Ended
 September 30,

(IN THOUSANDS, EXCEPT PERCENTAGES)

2024

2023

2024

2023

Net income (loss)

$  16,089

$(13,749)

$  22,524

$  (2,926)

Depreciation and amortization

16,243

14,027

47,032

40,373

Stock-based compensation

16,443

13,900

47,185

65,641

Interest expense, net

1,325

3,109

4,787

9,747

Provision (benefit) for income taxes

2,773

19,841

7,562

(6,240)

Acquisition, restructuring and integration costs

290

1,353

1,465

2,974

Foreign exchange (gain) loss, net

(2,607)

2,078

(723)

931

Asset impairments and other costs

90

11

90

1,517

Adjusted EBITDA

$  50,646

$  40,570

$129,922

$112,017

Revenue

$133,528

$120,331

$377,063

$340,074

Net income (loss) margin

12 %

(11) %

6 %

(1) %

Adjusted EBITDA margin

38 %

34 %

34 %

33 %

Conference Call and Webcast Information
IAS will host a conference call and live webcast to discuss its third quarter 2024 financial results today at 5:00 p.m. ET. To access the live webcast and conference call dial-in, please register under the “News & Events” section of IAS’s investor relations website. A replay will be available on IAS’s investor relations website following the live call: https://investors.integralads.com.

About Integral Ad Science
Integral Ad Science (IAS) is a leading global media measurement and optimization platform that delivers the industry’s most actionable data to drive superior results for the world’s largest advertisers, publishers, and media platforms. IAS’s software provides comprehensive and enriched data that ensures ads are seen by real people in safe and suitable environments, while improving return on ad spend for advertisers and yield for publishers. Our mission is to be the global benchmark for trust and transparency in digital media quality. For more information, visit integralads.com.

Forward-Looking Statements
This earnings press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance, including guidance, and business, including pipeline and industry trends. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. For example, all statements we make relating to our estimated and projected costs, profitability, expenditures, cash flows, growth rates and financial results or our plans and objectives for future operations, growth initiatives or strategies, including pursuing business from Oracle or other competitors are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: (i) the adverse effect on our business, operating results, financial condition, and prospects from various macroeconomic factors, including instability in geopolitical or market conditions; (ii) our failure to innovate or make the right investment decisions; (iii) our ability to provide digital or cross-platform analytics; (iv) our failure to maintain or achieve industry accreditation standards; (v) our dependence on integrations with advertising platforms, demand side providers (“DSPs”) and proprietary platforms that we do not control; (vi) our ability to compete successfully with our current or future competitors in an intensely competitive market, including with respect to the Oracle opportunity; (vii) our inability to use software licensed from third parties; (viii) our international expansion; (ix) our ability to expand into new channels; (x) our ability to sustain our profitability and revenue growth rate; (xi) risks that our customers do not pay or choose to dispute their invoices; (xii) risks of material changes to revenue share agreements with certain DSPs; (xiii) our dependence on the overall demand for advertising; (xiv) our ability to effectively manage our growth; (xv) the impact that any acquisitions we have completed in the past and may consummate in the future, strategic investments, or alliances may have on our business, financial condition, and results of operations; (xvi) our ability to successfully execute our international plans; (xvii) the risks associated with the seasonality of our market; (xviii) our ability to maintain high impression volumes; (xix) the difficulty in evaluating our future prospects given our short operating history; (xx) uncertainty in how the market for buying digital advertising verification solutions will evolve; (xxi) interruption by man-made problems such as terrorism, computer viruses, or social disruptions; (xxii) the risk of failures in the systems and infrastructure supporting our solutions and operations; (xxiii) our ability to avoid operational, technical, and performance issues with our platform; (xxiv) risks associated with any unauthorized access to user, customer, or inventory and third-party provider data; (xxv) our ability to provide the non-proprietary technology, software, products, and services that we use; (xxvi) the risk that we are sued by third parties for alleged infringement, misappropriation, or other violation of their proprietary rights; (xxvii) our ability to obtain, maintain, protect, or enforce intellectual property and proprietary rights that are important to our business; (xxviii) our involvement in lawsuits to protect or enforce our intellectual property; (xxix) risks that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers; (xxx) risks that our trademarks and trade names are not adequately protected; (xxxi) the impact of unforeseen changes to privacy and data protection laws and regulation on digital advertising; (xxxii) our ability to maintain our corporate culture; (xxxiii) public health outbreaks, epidemics, pandemics, or other public health crises; (xxxiv) risks posed by earthquakes, fires, floods, and other natural catastrophic events; (xxxv) the risk that a perceived failure to comply with laws and industry self-regulation may damage our reputation; and (xxxvi) other factors disclosed in our filings with the SEC. Given these factors, as well as other variables that may affect our operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods.

We derive many of our forward-looking statements from our operating budgets and forecasts, which are based on many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to update or revise any forward- looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Investor Contact:
Jonathan Schaffer
ir@integralads.com

Media Contact:
press@integralads.com

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SOURCE Integral Ad Science, Inc.

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SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Typeform, the intuitive form builder and conversational data collection platform, today announced new features that provide business-to-consumer (B2C) businesses with the context, clarity, and convenience needed to better engage and understand their customers. Now businesses can further enhance the respondent experience, all while gathering richer, actionable data. 

Today, 70% of consumer decisions are based on emotion, including brand preference.¹ Buyers expect brands to tailor experiences to their personal preferences more than ever, but at the same time, they’re also becoming more cautious about sharing personal information. Typeform’s latest features help brands collect data directly from customers through interactive, personalized experiences they trust, then automatically enhance it with third-party insights to deepen their understanding. This empowers companies to deliver more targeted, data-driven marketing.

“Businesses can’t thrive on surface-level insights,” said Aleks Bass, Chief Product Officer, Typeform. “Our latest innovations give you the ability to dig deeper into truly knowing your customers by providing dynamic data collection experiences that encourage quality responses. Whether boosting conversions with a personalized product recommendation quiz or gathering feedback through video surveys, the common denominator is that your customers enjoy the experience.”

The offerings were unveiled at Typeforum 2024, Typeform’s first-ever virtual product spotlight event, designed to showcase the latest innovations from the company. Newly released features include: 

Enhanced Video Capabilities: Typeform now allows customers to respond with video, providing businesses deeper insights through voice and expressions, not just text. This builds on Typeform’s existing feature that enables creators to record, edit, and embed personalized videos into forms, boosting engagement and conversions. Typeform research found that 65% of marketers believe video is an effective tool for engaging and interacting with customers in ways that feel more human and create connection and loyalty.²Clarify with AI: Typeform’s Clarify with AI acts as a virtual interviewer, prompting follow-up questions based on customer responses. When a customer is asked about their experience and answers vaguely, like “good,” the AI encourages more detailed feedback, asking, “Good, how? What stood out?” For customers, it feels like a personalized conversation. For brands, it delivers more insights. Automated B2C Data Enrichment: Earlier this year, Typeform introduced automated B2B data enrichment, making it easier than ever to understand customers at a deeper level without needing to ask additional questions. Now, consumer-level enrichment is available in the Typeform platform. With just a personal email address, companies can pull in key data points from trusted third-party sources, providing a more complete picture of who’s on the other side of the screen.AI-powered Qualitative Analysis: With this feature, businesses can instantly analyze large volumes of text and video responses to surface key themes and insights, saving hours of manual work. Data Quality Tools: Invisible reCAPTCHA ensures data integrity by blocking bots and automated submissions, allowing only genuine responses to be collected. This safeguard enhances data reliability, helping teams make accurate, data-driven decisions.Klaviyo Integration: Typeform will soon be launching a new integration with Klaviyo, designed for B2C and direct-to-consumer (DTC) marketers. It will ensure that every insight gathered flows seamlessly into Klaviyo. Manual data transfers are eliminated as segments automatically update with Typeform data, enabling hyper-targeted campaigns customized to each customer’s unique profile. This integration combines Typeform’s interactive data collection with Klaviyo’s automation, facilitating more natural, personalized customer connections while driving business growth.

“We built a powerful product recommendation quiz not just to help our customers, but to generate invaluable data that allows us to better segment and engage them with relevant marketing,” said Addison Wennar, Digital Communications Manager, OGEE. “With the holiday shopping season approaching, these insights will be key. Typeform already delivers the highest response rates for us, and I’m excited to see how the new features will amplify that impact.”

The features are available today in Typeform for Growth plans. Watch the Typeforum 2024 recordings and learn how to use Typeform to better understand and engage customers here. 

About Typeform
Typeform is a distinctly intuitive form builder that helps over 150,000 customers collect and validate the data they need to grow their businesses. Designed with striking visuals, a conversational flow, and powerful data capabilities, Typeform empowers brands to give and get more with each form. Typeform drives more than 500 million responses each year and integrates with essential tools including Zapier, HubSpot, and Slack. For more information, visit www.typeform.com.

1         Pendell, R. (2024, October 15). Customer brand preference and decisions: Gallup’s 70/30 principle. Gallup.com. https://www.gallup.com/workplace/398954/customer-brand-preference-decisions-gallup-principle.aspx#:~:text=70%25%20of%20decisions%20are%20based,Making%20Process:%20Rational%20or%20Emotional?

2          Data from a survey of 105 Typeform customers conducted on September 30, 2024.

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SOURCE Typeform S.L.

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Electronic Drives and Controls Celebrates Impressive Growth and Strong Demand for Industrial Automation Solutions

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EDC has announced 39% revenue growth over the past year and a strengthened presence in the metals converting and composites industries. The company has also maintained key certifications, including CSIA, UL508A, Rockwell Automation, Siemens, and Ignition.

PARSIPPANY, N.J., Nov. 14, 2024 /PRNewswire-PRWeb/ — Electronic Drives and Controls, Inc. (EDC), a leading control system integrator and field service company for industrial automation and drive technology, today announced that the company has experienced a year of growth and success, achieving a 39% increase in revenue year-over-year. To meet the growing demand for automation and drive solutions, EDC has expanded its team, hiring Ricky Arcky as human resources manager and Tyler Schaberick as systems engineer. EDC attributes this growth to maintaining industry certifications, digital marketing efforts, a dedicated team, and strong, long-term partnerships.

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients.”

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients,” said Chuck Dillard, Vice President of EDC. “Our recent hires and increased project load reflect our strategy to grow both wider and deeper with our existing clients, as well as entering new industries.”

“We’ve put in years of preparation and invested heavily in digital marketing to get the word out about our services, knowing that growth was inevitable,” Dillard added. “Our team has worked tirelessly and the results speak for themselves: clients continue to return to us because of our technical expertise and the strong results we deliver.”

EDC’s expertise in coating & laminating, wire and cable, PLC programming and upgrades, as well as drive service, has allowed the company to strengthen its presence in the metals converting industry, securing new and expanded projects across multiple client plants. EDC has also successfully completed upgrades for a new client in the composites industry, widening the portfolio of industries it caters to.

In addition to recent growth, EDC remains committed to maintaining the highest industry standards through its CSIA certification, which ensures adherence to best practices in control system integration. Several certifications, including UL508A recertification and certifications from Rockwell Automation, Siemens, and Ignition, further emphasize EDC’s dedication to safety, technical proficiency, and continuous improvement.

About Electronic Drives and Controls, Inc.
Founded in 1968, Electronic Drives and Controls, Inc. (EDC) is a CSIA Certified control system integrator with deep domain expertise in the coating and laminating, and converting industries. The company’s large field service team specializes in AC and DC drives, PLCs and factory automation. Family owned and operated for more than 50 years, EDC’s team of engineers and technicians has a vast experience integrating new control systems and breathing life into older equipment. EDC has the engineering capability to design, build, start-up and service projects from the sophisticated to the simple and the service support team on call 24/7/365 to keep it all running at peak efficiency from day one and for years to come. In addition to the company’s certification as a Siemens Solution Partner and a Rockwell Automation Recognized System Integrator, EDC is a factory authorized/factory trained service center for over 40 drive brands. For more information, visit the company’s website, LinkedIn, Twitter, Facebook, and YouTube.

Media Contact

Georgia Whalen, Rivergate Marketing, (978) 697-2664, Gwhalen@rivergatemarketing.com, www.electronicdrives.com/home/

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SOURCE Electronic Drives and Controls, Inc. (EDC)

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Allstate Financial Services Selects Covr to Provide Life Insurance, Long-Term Care, and Disability Insurance Solutions

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November 14, 2024

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Covr’s Digitally Enabled Insurance Platform Will Simplify the Buying Process

HARTFORD, Conn., Nov. 14, 2024 /PRNewswire/ — Covr, a leading digital insurance provider, has partnered with Allstate Financial Services, LLC to offer a streamlined suite of life, long-term care (LTC), and disability income insurance solutions through Covr’s digital platform. This partnership provides Allstate Financial Services customers with a simple, connected experience, featuring an intuitive, paperless process that makes it easier than ever to purchase insurance tailored to their diverse needs.

Covr’s platform offers an easy-to-use, self-guided experience to efficiently compare and recommend insurance products. Additionally, Allstate Financial Services will offer a range of products through Covr’s platform, including guaranteed issue life insurance through Gerber Life and disability insurance through Assurity, Ameritas, MassMutual, Mutual of Omaha and Principal. Traditional long-term care will also be available through Mutual of Omaha.

“We are extremely pleased to add Allstate’s network of 7,000+ representatives to our insurance platform,” said Michael Kalen, CEO of Covr. “Their business owners and individual customer base fits perfectly with our portfolio of simplified life, LTC, and disability income solutions for agents and their customers.”

“We’re committed to expanding solutions that better meet our customers’ protection needs,” said Scott Delaney, President and CEO, Allstate Financial Services. “With Covr’s digital platform, our representatives can deliver a more connected experience and offer a broader range of insurance options tailored to each customer’s unique needs.”

Allstate representatives will collaborate closely with Covr’s sales team to ensure ongoing support. Allstate Financial Services will also benefit from Covr’s top-tier case management services, providing end-to-end support throughout the entire insurance process.

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SOURCE Covr Financial Technologies

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