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1. Company Snapshot

1.a. Company Description

Innovid Corp.operates an independent software platform that provides ad serving and creative services.The company offers advertising services for the creation, delivery, and measurement of TV ads across connected TV, mobile TV, and desktop TV environments to advertisers, publishers, and media agencies.


It also provides creative management; advertising measurement; identity resolution; and publisher solutions.The company serves consumer packaged goods, pharmaceutical and healthcare, financial services, and automotive and technology industries; third party agencies; and publishers in the United States, Canada, Europe, the Middle East, Africa, Latin America, and the Asia Pacific.Innovid Corp.


was incorporated in 2007 and is headquartered in New York, New York.

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1.b. Last Insights on CTV

Innovid Corp.'s recent performance was driven by strong growth in connected TV (CTV) advertising, ongoing collaborations with major streaming platforms, and expanding AI-driven capabilities. The company's CTV benefits from strong growth in the space, and its partnerships with major streaming platforms position it for future success. Additionally, the company's upgrade to a Strong Buy rating and the proposed buyout by Mediaocean at a price of $3.15 per share have contributed to the positive sentiment.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Trade Desk Unveils Ventura Ecosystem to Elevate CTV Advertising

Feb -25

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The Trade Desk Introduces the Ventura Ecosystem to Advance the Future of CTV Advertising; V and Nexxen Join as the First Collaborators

Feb -24

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Mediaocean Expands Role of Innovid CEO Zvika Netter to Include Mediaocean Chief Innovation Officer

Feb -03

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CleanTech Appoints Fluorspar Industry Expert James Rodriguez de Castro as Advisor

Jan -28

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CleanTech Grants 673,148 Restricted Share Units

Jan -26

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The Trade Desk Faces Sharp Decline Amid CFO Change and Reaffirmed Guidance

Jan -26

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CleanTech Appoints Mr. Jason Reid As Special Advisor to Develop its Fluorspar Projects in Kentucky

Jan -26

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App Science™ Audiences Outperform CTV Industry For Attention

Jan -13

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.00%)

6. Segments

Ad Serving, Measurement and Creative Services

Expected Growth: 11%

Innovid Corp's 11% growth in Ad Serving, Measurement, and Creative Services is driven by increasing demand for personalized video advertising, expansion into new markets, and growing adoption of its data-driven solutions. Additionally, the company's focus on innovation, strategic partnerships, and operational efficiency have contributed to its rapid growth.

7. Detailed Products

Innovid OTT

A cloud-based, over-the-top (OTT) video advertising platform that enables advertisers to deliver targeted, interactive, and measurable video ads across multiple devices and platforms.

Innovid for Publishers

A platform that helps publishers maximize their video ad revenue by providing advanced ad serving, mediation, and yield optimization capabilities.

Innovid for Advertisers

A platform that enables advertisers to create, deliver, and measure interactive and personalized video ads across multiple devices and platforms.

Innovid Analytics

A data analytics platform that provides real-time insights and metrics on video ad performance, audience engagement, and campaign effectiveness.

Innovid Creative

A cloud-based, self-service platform that enables advertisers to create, edit, and optimize interactive video ads in real-time.

8. Innovid Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Innovid Corp. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the evolving nature of the advertising technology industry.

Bargaining Power Of Customers

Innovid Corp.'s customers have significant bargaining power due to their large advertising budgets and ability to negotiate prices.

Bargaining Power Of Suppliers

Innovid Corp. has a diverse supplier base, which reduces the bargaining power of individual suppliers, and the company's scale and reputation also give it negotiating power.

Threat Of New Entrants

The threat of new entrants in the advertising technology industry is moderate, as it requires significant investment in technology and talent, but the industry's growth prospects and innovation opportunities attract new players.

Intensity Of Rivalry

The advertising technology industry is highly competitive, with many established players and new entrants vying for market share, leading to intense rivalry among competitors.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 9.76%
Debt Cost 3.95%
Equity Weight 90.24%
Equity Cost 20.38%
WACC 18.77%
Leverage 10.82%

11. Quality Control: Innovid Corp. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Travelzoo

A-Score: 4.2/10

Value: 8.8

Growth: 6.2

Quality: 7.2

Yield: 0.0

Momentum: 0.0

Volatility: 2.7

1-Year Total Return ->

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National CineMedia

A-Score: 3.9/10

Value: 6.1

Growth: 2.4

Quality: 4.5

Yield: 6.0

Momentum: 1.5

Volatility: 3.0

1-Year Total Return ->

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Innovid

A-Score: 3.8/10

Value: 3.1

Growth: 4.6

Quality: 4.8

Yield: 0.0

Momentum: 7.0

Volatility: 3.7

1-Year Total Return ->

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Direct Digital Holdings

A-Score: 3.5/10

Value: 10.0

Growth: 3.0

Quality: 5.5

Yield: 0.0

Momentum: 2.0

Volatility: 0.3

1-Year Total Return ->

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AdTheorent Holding Company

A-Score: 3.0/10

Value: 4.3

Growth: 2.0

Quality: 4.6

Yield: 0.0

Momentum: 6.0

Volatility: 1.3

1-Year Total Return ->

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Cardlytics

A-Score: 2.8/10

Value: 9.8

Growth: 2.9

Quality: 3.4

Yield: 0.0

Momentum: 0.5

Volatility: 0.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

3.14$

Current Price

3.14$

Potential

-0.00%

Expected Cash-Flows