Q3 2021 Integral Ad Science Holding Corp Earnings Call
Good day, and thank you for standing by welcome to that I a S third quarter of 2021 earnings 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 my session you'll need a press star one on your telephone please be advised today's call.
<unk> may be recorded if you require any further assistance. Please press Star then zero I would now like to hand, the conference over to your help today, Jonathan Schaefer, Vice President and Investor Relations. Please go ahead.
Thank you good afternoon, and welcome to the I 2021 third quarter financial results Conference call I'm joined today by Lisa Snyder C E O and Joe Pergola CFO.
Four we began please note that today's call contains forward looking statements. We refer you to the company's filings with the S. P. C for more detail about important risks that could cause actual results to differ materially from our expectations.
On today's call. We will also refer to non-GAAP measures a reconciliation of non-GAAP measures to the most directly comparable GAAP measures is contained in today's earnings release available on the company's I R site investors dot integral adds dot com with these formalities out of the way I'd now like to turn the call over to our C E O Lisa Schneider Lisa.
You may begin.
Thanks, Johnson I'd like to welcome everyone. Joining today's call I'm delighted to be here to discuss our strong third quarter results based on our performance to date combined with solid business momentum, we are raising our outlook for the full year.
We have a lot to Sharon our progress as we advance our global leadership in digital media quality.
As a reminder, I S enables marketers to improve R O y by protecting and amplifying their brands, eliminating fries, reducing media waste and driving better engagement and outcomes.
Our solutions are global scalable and available across all devices and channels, including all major demand side platforms or D. S. P's and proprietary platforms. This allows for a seamless global customer experience.
I S is end to end approach to digital media quality is based on verification contextual targeting and optimization.
We provide verification services. According to our proprietary media reading council or MRC accredited quality impression metric.
We ensure marketers ads are seen by real people and brand safe branch suitable environments and in the right geographies.
We offer contextual targeting to marketers and publishers, which extends our media quality capabilities beyond verification.
Our customers are able to avoid undesirable context and target content that drive is better outcomes for their businesses.
We do this with the granularity and precision that is unmatched in the industry.
We also deliver campaign optimization via our total visibility solution, which we believe is one of a kind.
Total visibility provides an understanding of both the quality of programmatic media and the supply Pap cost for AD impressions and Google D V 360.
As a result marketers can find the highest quality AD placements at the most sufficient price within programmatic environment.
The voice of the customer informed everything we do our Brandon agency customers continue to stress the importance of effectively communicating their company values and identifying the best environment for their digital campaigns.
Leading edge marketers understand that quality impressions drive better outcomes.
Recently I S posted to live panel discussions at advertising week in New York City with senior executives from group them Mars and Samsung.
The themes of quality trust and transparency all of which are essential to our mission were reinforced and these panels.
Turning to a few highlights from the third quarter we.
We exceed our guidance for revenue and EBIT that in the period.
Revenue grew 32% year over year to 79 million.
Growth was across all products in segments with demand extending well beyond our core verification services into the new rapidly growing products, we've introduced in the last year.
We also generated strong profitability with gross margins of 82%.
Adjusted EBITDA reached 25.4 million at 32% margin.
We achieved these financial results Wallach celebrating our business momentum in several key areas, including driving customer adoption of our contextual targeting solutions and programmatic across bran industry verticals and geographies.
Acquiring publica, which transforms are connected T b or C. T V capabilities and establishes I S. As a clear leader in the space.
And scaling our infrastructure for long term success by welcoming over 100, new employees to I S and the period, which doubles are hiring in the second quarter.
Now, let's discuss how we're going to grow.
On last quarter's call I outlined before <unk> grilled pillars for I S. P.
Programmatic social C T V and international I'd like to review each of these areas and discuss our recent progress.
Our first growth pillar is our programmatic business, which achieved record performance in the corridor.
We experienced incredible customer adoption of context control architectural targeting solution in the third quarter, which resulted in 49% growth in our programmatic business.
Launched in 2020.
Context control helps marketers avoid undesirable content and increasingly target content that is suitable for their campaigns and better lines with their brand values.
Context control uses our natural language processing and machine learning knowledge crap to classify content across over 300 contextual segment based on the semantics and emotion of the page reads.
Reason I S research confirms that went ads run next to contextually relevant content, 73% of consumers find me add more appealing.
H B O. Max is a great example of the power of context control for brands.
They understand that not all context are equal for driving advertising outcomes.
Flexibility of the solution like context control provides H B O Max and now there was the ability to balance the values of their brand while simultaneously finding those contexts, where their ads resonate most.
In the last 18 months, we integrated context control with all major D. S P's, including Google D V 360, the trade desk and Xander.
Recently, we enhanced discover ability of context control for programmatic within our D V 360 integration.
Context control is now available in more than 50 countries and more than 30 languages to meet increased global demand for solutions that drive outcomes not the line on consumer data or third party cookies.
Last month, we launched I S signal, our new unified reporting platform that delivers the data and insights advertisers and publishers need can easily manage their digital campaigns.
I S signal is our latest product innovation, incorporating several feature updates into one powerful platform well setting a strong foundation for further enhancements coming soon.
Additionally, we are forging deeper relationships with programmatic marketers three total visibility are optimization solution.
Is more budget shipped to programmatic marketers require greater media quality and transparency.
Total visibility provides marketers with actionable insights to optimize their campaign spin and drive higher yield by focusing on the most efficient and cost effective pathways avail.
Available currently in Google T V 360, with plans to extend to additional D. S. P. Partners total visibility is provided added value for marketers within programmatic, increasing both customer engagement and stickiness.
It is also yet another example of our strategic partnership with Google that includes channel Science for you to an automated tag the only automated tagging solution available and Google campaign manager.
The growth of social platforms is another important growth pillar for I, yes.
On our last call we discussed our beta program would kick talk to provide a prebid Grand safety solution for N C video ads.
Our technology provides precise scoring for content and tick tock slides C, including frame by frame video text and audio and offers controls consistent with global online for responsible media or gone categories.
Since then we've launched our branch safety solution available to all marketers on tick Tock in Germany, France, and the U S with more markets expected soon.
This is game changing for the industry, because we're delivering unique technology that marketers need to protect their brand reputation, while keeping up with tick talk's dynamic platform.
I'm, so proud to be I S team as it's an excellent demonstration of our ability to lead the industry innovate on behalf of our customers and launch differentiated products.
We look forward to continuing to innovate with tictoc, providing a safe and targeted add experience for marketers and y C.
We're also energized by future opportunities to apply bits brand safety technology, which we developed internally to other social media platforms.
Last year.
Research found that just 17% of industry experts believe social platforms provide enough transparency around issues, such as brand risks and view ability.
As more of a social platforms open up to third party measurement I S as well positioned to remove the black box for marketers and ensure they have visibility into their AD campaigns on social platforms <unk>.
Last week, we announced that we achieved MRC accreditation for integrated third party measurement on Facebook.
This milestone underscores how customers rely on our advanced technology to drive transparency and greater outcomes for their campaigns across the largest digital platforms, including Facebook the.
The MRC accreditation includes impression and Viewability measurement and reporting of displaying video ads crossbows Facebook and Instagram.
C T V or third growth pillar represents a fundamental shift in T V viewing an AD supported content.
That's why we're taking an unique approach to building products. The address the needs of C. T V advertisers and publishers to power the user experience.
There are four key advantages to see T V over linked to your T V, including flexibility optimization data and insights and targeting and control which includes consumer Addressability. We called this T V. Two point O as a role evolves from add verification to add Intel's.
James Webb.
We're very pleased with the initial onboarding of publica acquired during the third quarter.
As a reminder, publica is a meeting video AD platform for C. T V that delivers the quality of linear T V advertising across programmatic C. T V environments independent of demand relationships Publica help C. T V publishers improved meal and monetization.
By unifying their direct campaigns and programmatic demand.
Where I S has historically been weighted towards marketers on the buy side pub.
<unk> his deep rooted supply side partnerships with leading global C. T V publishers like Bichons C. B S. Samsung and five all along with integrations with over 30 of the largest supply side platforms or S. S Ts public.
Publica is demand ignostic and completely independent of media execution. This is one of the many reasons. So many publishers have adopted their technology.
You are free to service, the south side without any bias towards demand.
Publica also brings an AD server and unified add auction that gives us the ability to move further upstream into C. T V programmatic for both publishers and marketers.
Acquiring publica, we've been heads down on a long-term integration plans were excited to leverage assets from both companies to build the most innovative and relevant products for the C. T V ecosystem at the same time, we will mean teen I S as neutrality and standing as an independent.
Third party verification provider the trust of our partners is Paramount and will remain so.
Our currency T V offerings with Publica include C. T V fraud detection, covering general invalid traffic or G. I V T as well as the ability to measure video rendered video Viewable and video Viewable completion rates currently available in a beta version.
In addition, we have C T V app level of transparency lives in reporting.
And with our innovate integration, we now have C T V and mobile in App measurement capabilities we.
We just released app level monitoring and blocking and video for C. T V that includes brand safety monitoring and video filtering.
We also plan to introduce new features that provide greater visibility for marketers.
In the fourth quarter, we expect to launch new solutions that offer granular insights into where C. T V AD impressions have played including which channel and even which this level of supply transparency is unheard of in the C. T V universe and represents in May.
Did your competitive differentiator for I S and C T V.
Lastly, I'd like to highlight international growth, which represents our fourth Grove pillar.
Ah revenue mix of America's versus rest of World 64, 36 for the third quarter, including Publica, which primarily serves U S publishers today.
International revenue growth continues to outpace growth in the Americas as we increase our strong foothold in India and a pack while investing in Latin him in southeast Asia.
As mentioned everything we built is designed to be global scalable and repeatable that includes contact control, which is seen tremendous adoption across all regions during.
During the period for example, we secure to global mandate for context control with Jaguar land Rover.
As our digital media quality solutions have expanded in scope and become more strategic more global marketers are looking to I S to meet their needs at scale across all channels and markets.
Or combination of innovative solutions and global reach uniquely positions I S in the market.
During the quarter, we expanded our agreement with porno over card as their exclusive media quality partner and now activate and their largest global markets, including the U S and the U K.
Our international growth is also being driven at the local level through integrations with global and regional specific platforms.
In addition, we continue to build relationships with local brands and their agencies in all markets.
Our new customer Alibaba is a great example from the quarter that was developed through our exclusive partnership with Omnicom group and friends.
Moving forward, we will continue to invest in these growth pillars, and wherever we see potential to extend our position in the market.
Emerging categories like audio and gaming for example may offer additional opportunities to expand our portfolio and drive customer engagement.
Podcast music streaming and gaming platforms represent potential new formats, where our technology may help ensure fries free brand safe and targeting environments for marketers.
And I, yes, we are focused on innovation and profitable growth.
That requires having the right team, which is why we prioritize talent acquisition and retention.
During the third quarter, we added over 100 new employees.
That's more employees than in any quarter and the last two years.
Recent hires have been across functional areas, including sales engineering and customer success with 51, new employees in Europe and a pack.
We have focused on adding expertise and video programmatic.
We have also prioritize senior level be there's with track records of driving scales grows including the appointment of a new S. V. P. A product engineering and the new V. P of data engineering during the period.
There's always more to do and we continue to focus on building our team, but we are excited by our recent progress.
And finally, we our customer obsessed in October we held our first customer Advisory Council meeting. These meetings will be held quarterly with just an incredible roster of council members from iconic Fortune 500 brands, representing keep verticals, including C. P.
G financial services automotive technology and health care I was so impressed at our first meeting by the commitment of the council members to brand safety and suitability and to tackling issues for the broader industry. I was also honored by their partnership with I S, which we can.
Greatly appreciate it.
Thank you for your ongoing support and interest in I S. We're very pleased with a recent performance excited about our prospects as we move into the busiest period of the year and committed to delivering results for all of our stakeholders and with that I'll turn it over to Joe to review the finance.
Charles.
Thank you Lisa and welcome everyone joining today's call.
We delivered a very strong third quarter I'm pleased to walk you through our results in our increased outlook for the full year. As a reminder, I S has an agile and scalable business model focused on high revenue growth and margins. We have significant reoccurring revenue that provides us with predictability in our forecasting we partner closely with our advertisers and <unk>.
Publishers to build multi year minimum impression commitments as well as fixed fee agreement, we command premium C. P M right for a solutions, including concepts control video C. T V products turning to our results for the third quarter revenue increased by 32% year over year to 79.
[noise] dollars, which exceeded are upwardly revised guidance for the period of $75 million to $77 million, that's nearly 4% over the mid point of our revised kind of strange and just over 5% above the mid point of our initial range of $74 million to $76 million.
Expanding on a revenue performance or advertise a direct revenue, which includes the open weapons social platforms increased 15% year over year due to higher impression volume from key accounts, including naturally Coca Cola Disney Mars, Samsung <unk> American.
American Express their elving M H and I do this so.
Social platforms continues to perform well representing an increase component of our advertiser direct mixed for the period.
Over time.
We expect social platforms to increase from 38% of advertise a direct revenue today to reach 50 50 parity with open web.
Another key part of Advertiser directed video, which spans across both open web and social platforms video continue this strong growth in the quarter and accounted for 42% of our total advertiser direct revenue.
For programmatic.
A revenue increase to 49% versus the prior year programmatic continues to benefit from ongoing customer adoption of a context control solutions, which represented 36% of programmatic revenue in the period compared to 30% in the 20th 21 second quarter <unk>.
Programmatic accounted for 43% of total revenue for the quarter <unk>.
Lastly, supply-side revenue from publishers increase to $10.8 million that includes a 3.2 million dollar contribution from publica, which was acquired midway through Q3 publica is on track to contribute $7 million in the fourth quarter and what will be its first full quarter as part of I S.
We saw significant year over year growth across all international markets and the period.
International revenue grew 25 per cent in the quarter represented 36% of total revenue or geographic revenue split for as follows for the Americas total revenue for the quarter was $50.3 million up 36% year over year.
The meal was at $20.2 million up 21% in APAC was $8.5 million up 36%.
Before moving on from a revenue performance I'd like to comment on a supply side and geographical mix following the publica acquisition.
Our supply side revenue is expected to increase to the contribution from publica. As a result, we expect our segment Max will reflect higher supply side revenue.
In addition, public at the date has operated primarily United States, while we plan to leverage I S. As international footprint to expand public cause global reach we expect their revenue contribution will increase the share for the Americas and are reported geographic makes for the foreseeable future.
Gross profit increased 31% to $65.2 million with an 82% gross margin comparable to the prior year period.
Non-GAAP operating expenses, which exclude stock based compensation expenses for comparability increased at a rate significantly below our top line growth, reflecting are efficient operating model as well as lower costs due to Covid total operating expenses increased by $14 million, which includes higher Jna costs really.
It's a hiring talented professional fees to support our growth as a public company.
<unk> based compensation expense for that period was $8.1 million, which includes additional expenses related to publica.
Turning to our non-GAAP measures and K P I S.
Adjusted EBITDA for the third quarter, which exclude stock-based comp and other one time items increased 38% year over year to $25.4 million or 32% margin. The combination of our strong adjusted EBITDA margin performance and top line growth enabled us to exceed the rule of 60 for the period.
Oh third quarter net revenue retention or N. R. R was 129% compared to 107% in the prior year period, which was significantly impacted by the COVID-19 pandemic.
Total advertising customers grew by 11% year over year to 2045 advertisers are total number of large advertising customers with annual revenue over $200000 grew by 14% year over year to 183.
I S as well capitalised to fuel the company longterm growth, we received approximately $282 million in net proceeds from the I P. O in the third quarter as we outlined in our perspective, we are committed to reducing a longterm get exposure at the end of the third quarter, we replace our existing credit facility.
And do me, so we reduced our long term debt by nearly $121 million or one third overall and lowered our interest rate on a revolver by more than half.
Our cash balance at the end of the quarter was $63.7 million, which includes catch from the I P. O gives effect to the Kashi is for the public acquisition and two repayment of the prior credit facility.
Based on the outperformance in the third quarter and the momentum in our business, we are increasing our financial outlook for the fourth quarter and full year 2021, including publica for the fourth quarter. We expect revenue of 94 million to $96 million with adjusted EBITDA of 28 million to $30 million for the full year we.
Expect revenue of 315 million to $317 million with adjusted EBITDA of 98 million to $100 million. The midpoint of are upwardly revised full year revenue guidance range represents anticipated growth, including publica of approximately 31% year over year.
A few additional modeling points.
For the fourth quarter, we expect stock based compensation of $9 million to $10 million.
We expect shares outstanding for the fourth quarter of approximately 153.5 million to 155 million.
As Lisa referenced we continue to hire at a record pace and we do expect adjusted EBITDA margins to reflect additional head count in future quarters.
In closing, we're coming off a strong third quarter with double digit revenue growth across all categories and adjusted EBITDA performance, reflecting in part the benefits of greater scale inefficiencies in our model as our increased guidance highlights. We expect to end 2021 on a high note with anticipated momentum in our business in the fourth quarter.
Especially in programmatic as we expect continued customer adoption of architectural targeting solutions. This should position us well heading into 2022.
Lisa and I are now ready to take your questions.
Thank you Yeah. If you have that question at this time. Please press Star then one on your Touchtone telephone. If your question has been answered or you wish to remove yourself from the queue. Please press the pound key.
And our first question comes from the line of Brian Fitzgerald with Wells Fargo. Your line is open. Please go ahead.
Because programmatic continue to be very strong in the corner.
Contextual as the cute pill in there, but I also think you alluded to an extended D. S. P relationships. So we're wondering if you could unpack some of the drivers there maybe in terms of exist.
Existing customers, adopting the Kentucky control or or new customers coming to the platform specifically for perpetual capabilities versus a new D S P or or an expanded partnership.
And then maybe a quick follow up to that too where do you think we are today in terms of contextual adoption across your customer base in the in the industry more broadly.
Hi fits great question, So I'll take it one at a time the first programmatic were thrilled with the continued accelerated growth that we're seeing with programmatic in context control adoption in particular, a trend that we're seeing that's quite promising him.
Is when we initially launched contacts control in March of 2020, where we saw the adoption rate initially and the D. S. P. We launch with with the trade desk was in the U S. So last year. It was primarily U S adoption as we rolled context control across.
<unk> all of the major Dsp's, including D V 360, and what we're seeing this year in Q3 in particular is continued adoption in the U S. But additionally international a job <unk>, both in EMEA and a pack, we're seeing that nice trend of inter.
National adoption, both in terms of avoidance, but also we're seeing increasing adoption with the context control contextual targeting solution.
And then one other thing to call out that we're also seeing nice adoption is where you continue to invest in our programmatic reporting capabilities to help marketers have a more seamless experience, it's easier discover ability of context control and I think.
The improvements that we're making in reporting is also driving up adoption rates.
Great. Thanks, I appreciate it.
Yep, Thanks fifth.
[laughter].
And our next question comes from the line of Mark Mahaney with Evercore, Yeah. Like that's open. Please go ahead.
Thank you. This has been on for Mark Uhm, I, just need to follow up on that last.
In terms of what percentage of the context <unk> revenue is avoidance versus.
Targeting the right way to say that I understand I think the majority of its kind of avoidance, but I'm just gonna.
Update on how 'bout turned into a decoder that'd be great.
Yeah, Hey, Ben This is Joe pergola. Thanks for the question so 36% of our overall programmatic revenues attributed to context control.
Primarily that's currently today is the avoidance we are working actively building the pipeline with our marketers on targeting and seeing a lot of traction, but I'd say, primarily today through Q3, it's avoidance.
[noise], Okay and then if you can just ask the follow up like how do you think the open fleet acquisition by double verify it affects the competitive dynamics.
Selling not the context.
Two years.
<unk>.
Great question, so with the open slate acquisition in context control you know.
The reality is is we're just seeing dozens and dozens of net new contextual activations. We saw it in two three we anticipate to continue to see it in queue for in addition to that some of these new VSP relationships that we have now should set us up for a solid.
2023 growth as they ramp up so we're looking forward for accelerated growth across the board when it comes to programmatic.
Thank you both.
Thank you and our next question comes from the line, Jason how stainless Oppenheimer and might not they'll send please go ahead.
I'm gonna have to so just further update on public now that you've kind of owned it for a longer just kind of how are you thinking about that for next year cause any colors as we're all gonna try to think about him out for next year and then can you talk about kind of you know you've.
Got the MRC accreditation and so like what does that mean, where for example, like social platforms like Facebook Slash meta seems.
Seems to not want to comply with the MRC you, having that accreditation like what does that mean in the context of like potentially winning.
Facebook or and and just how does that play into your discussion with advertisers say.
Okay. Thanks, Jason I'll take the questions one at a time the first with publica as you know we announce the acquisition publica in August last quarter.
We are so thrilled with the acquisition, we our heads down building, our short term and long term roadmap, but ultimately our goal is to accelerate the adoption for the entire ecosystem across users publishers and marketers when it comes to things all things related to C. T V.
I actually have had the opportunity over the last couple of months to do a bit of a listening tour with band on Ta Who's the C. E O of publica, it's similar to the listening tour I did when I joined I S. Almost three years ago and publishers are giving a lot of feedback in terms of what they need within.
Programmatic C T V, what's working for them, but areas, where they they really need some help around whether it be frequency creative duplication in parallel I've been listening and spending time with marketers in terms of what they're looking for was C. T V and what they're looking for it.
Is transparency and as we announced in the earnings call. We're so looking forward to launching later this quarter granular insight around transparency finally sharing with marketers aware their ads right ran in.
Programmatic C T V where the impression played again, giving them the transparency that they're looking for.
And then in terms of the MRC accreditation that we announced it includes MRC accreditation on Facebook, both impression in view ability measurement and reporting of display and video ads across both Facebook and Instagram and as you know, we're very bullish about the opera.
T D of brand safety within the live feeds we announce the product launch with tick Tock, where we've developed video classification for marketers the products now G. A running across three markets, France, Germany, and the U S. Marketers are thrilled with the performance that where they are.
Seeing in tick tock, and we're hoping that interest and ongoing demand, we're seeing for marketers Facebook hears it loud and clear so that they ultimately open up their live feed for independent third party verification companies to build similar brands safety solutions within the <unk>.
Ah Facebook.
Terrific. Thank you.
Thanks, Jason Thank you.
Thank you and our next question comes from the line of print itself with Jefferys. Your line. That's open. Please go ahead.
Lisa Apple left a small wake turbulence throughout the industry this quarter and I'm I'm curious if.
Anything you're you're seeing post that that fly over from from what you're hearing from your clients and.
For Joe.
Continued good performance in an international.
You know she kind of dive into it anything to to call out that you you put a bigger spotlight on.
Thanks.
So great question I'll take the first question, Brian So we're actually see that as a tailwind an ongoing tailwind for our business is marketers continue to shift away from audience space targeting too contextual targeting and as you know our previous solutions, we don't rely on cookies or.
Individual identifiers, so again, it's accelerated growth as more and more marketers are leaning into differentiated contextual targeting solutions like context control.
Yeah, and Brent Thanks for the question on international So tremendous performance internationally as you saw <unk>.
Right now we have all regions exceeding double digit growth and what we're seeing internationally is not only acceleration of new logo when spud into our programmatic solutions as well.
So we're we're very pleased with the performance and look forward to the opportunity.
Thank you.
Thank you and our next question comes on the line as being a Lynch channels with Barclays. Your line is open. Please go ahead.
Sweet Thank you and congrats for me as well mm mm.
Uhm restarting throw like yesterday, we discussed with them all the company uhm kind of volumes and the industry is there anything that you're seeing there and then you know <unk>. Following on from brands question idea, if you'd like in terms of like.
Like I know you guys are probably just put them where customers on that understanding of them. They're drawing me that they need to change could you just kind of talk a little bit of what you're seeing in your conversation. Please. Thank you.
Sure. Thanks, Ramo I think I'll take both questions so to tackle the first round around volume. So the trend has been very positive both in the volumes that we've seen in the past quarter as well as quarter to date, which is reflected in our increased outlook for the full year. So volumes continue to.
To increase as more and more users are spending even more time on social platforms and viewing stream content and as marketers are shifting away from linear budget two online budget and then in terms of the second question that one could you repeat repeat it please that went about Apple.
Yeah. So I was just wondering you mentioned, obviously you excited about idea of aid to cruise the world is changing and it looks like it's coming to you, but where customers in there in the draw on the <unk> on the send me get kind of thinking about adopting more of your solution et cetera, like <unk>, where I'll be on my own bedroom.
Great question, So as I mentioned before with this shift as marketers are moving away from audience space targeting too contextual targeting they're looking for differentiated sophisticated contextual targeting solution, that's exactly what context control is.
We've launched that product early last year, but the trend that we're seeing is two fold. The first early adoption last year with many U S. Marketers, we're seeing a shift where U S. Marketers continue to adopt context control, but now we're seeing more and more international.
<unk> markets adopting context control both in terms of avoided but also proactive contextual targeting the other trend, we're seeing is more and more marketers leaning into our contextual targeting solution, where they're seeking out appropriate content for their.
[noise] brands, and we're seeing nice adoption rate actually dozens and dozens of new logo signing up for context control across all of the markets.
Okay perfect. Thank you congratulations.
Thank you.
Thank you and our next question comes from the line of Dance <unk> BMO capital. Your line is open. Please go ahead.
Good evening, everyone. Two questions one for Lisa went for Joe Let me see you mentioned in your comments public is AD server and unified at auction and the potential opportunity to move.
A little further upstream for both advertisers and publishers could you just spend a little bit more time on that and what the product roadmap to might have in store from those two products and then Joe I <unk> just a quick one for you I Strawberry truly 12 months Advertiser account and the tend to Ah maybe missed the publisher total can you sure.
That with us.
Yeah sure. Thanks, Dan So in terms of public we are working through that short long term product roadmap, but the one thing I do want to call out when it comes to public as unified auction and their video AD server. It is mutually exclusive right.
So I asked where third party independent verification company. It's so important that we remain neutral and independent like the Switzerland of media quality. So publica will continue to use their unified action AD server independent of our verification solution.
But in terms of the roadmap as I mentioned on the call transparency is mission critical for marketers and what marketers are looking for I'd mentioned that earlier the T V to Dot O, which is basically marketers moving away from add verification towards add Intel.
Legend, and they're looking for granular insights to understand where the impression played when it comes to programmatic C. T V that is what they get on linear T V and they were looking for the same thing on C. T. V. This is game changing for the industry that <unk>.
Shortly will be launching live near real term impression level data reporting for marketers and buyers will be launching it later in fourth quarter, where it's the first day market, where marketers. Finally, finally will be able to see where their ads ran.
Which channel.
And which genre. So we're really excited for this lunch later in the quarter again, it's a game changer for the industry.
And thanks, Dan another question for.
Regarding the number of publishers are our focus continues to be on the advertiser count at 2045 up 11% coupling that with our other key metrics that 129% and are are thrilled Testament for the business as we're scaling.
From a total customer point of view and adding in the amount of publishers, it's at 136, but.
We need to be cognizant of is the partial quarter edition of publica and our supply side number and then this Q4 will be our first full quarter with publica under under I S ownership.
Daniel still there.
Hi, I'm, sorry that covers it fantastic. Thank you both.
Okay. Thanks, Sam.
Thank you and our last question comes from the line of Andrea Real quick Raymond James Your line is open. Please go ahead.
Thanks for taking my question, you've given symmetrically around the savings the total visibility advertisers experience after adopting but I assume at some of those savings or has been reinvested. So with that can you give us some color on what you see as the size of the opportunity from expanding total disability, so their deities and any potential timelines around that thank you.
Great Great question Love talking about total visibility.
So total visibility it offers visibility into supply path optimization total visibility. It came from an acquisition of the company. We acquired earlier this year called amino payments and what marketers are looking for similar to what I was talking about earlier when it comes to C. T.
V as they wanted to get out of the black box of programmatic, they want greater transparency and visibility into what they're buying and programmatic and performance and with total visibility we're offering it running it through Google T V 360, Google CSP and it gives the marketer visibility into.
To all of the S. S. P's that there advertising is running on and even more importantly, the performance of the SSP buys and so the market or in real time can adjust accordingly, what's working well, what's not drives great optimization for.
The market or <unk> keeps them more transparency with that team. The total visibility team. We are looking to extend some of the insights that we're gleaning from the total visibility product into our other programmatic reporting capabilities and will be thrilled to <unk>.
Sure what that roadmap looks like when we are ready to share it.
Thank you.
Thank you and that concludes our question and answer session and I would like to turn the conference back up I can at least Schneider for any further remarks.
Okay, well. Thank you again, everyone for your time today I hope that gives you a good understanding of the tremendous momentum that we have in the business. We are firing on all cylinders at I S. I am so incredibly proud of our entire team and of the queue.
Three results that we shared today, we continue to invest in all of the growth accelerators that we mentioned earlier on the call. When it comes to programmatic CTV social platforms and also international expansion and we're looking forward to a strong clothes.
Of this year and rounding out next year with really great momentum. So thank you again for your time today.
This concludes today's conference call. Thank you for participating you may now disconnect everyone have a great day.
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