ironSource (IS) Q2 2022 Earnings Highlights

By Amit Chowdhry ● Aug 13, 2022
  • ironSource (IS) recently announced its Q2 2022 earnings results. These are the details.

ironSource (IS) recently announced its Q2 2022 earnings results. Below are the highlights.

On August 9, 2022, Unity received a non-binding acquisition proposal from Applovin. And the company said it firmly believes that the proposed deal with Unity is clearly superior, and will deliver greater value for Unity and ironSource shareholders.

Q2 2022 Financial Highlights:

– Total revenue of $183 million, an increase of 35% year-over-year.

– GAAP Net Income of $13 million.

– Adjusted EBITDA of $56 million, an increase of 22% year-over-year.

– Adjusted EBITDA margin of 31%.

– Dollar-based net expansion rate of 142%.

– 446 customers each contributing more than $100,000 of revenue in the trailing 12 months compared to 309 customers in the 12 months ended June 30, 2021, an increase of 44% year-over-year.

KEY QUOTES:

“We are very pleased with our Q2 results, as ironSource is proud to be among the few technology companies that deliver high-growth coupled with consistent profitability. We’ve had a strong quarter, with revenue of $183 million, growing 35% year-over-year, and a dollar-based net expansion rate of 142%, as customers continue to grow using our platform. This quarter we also signed a definitive agreement to merge with Unity Software in an all-stock transaction, a combination which we believe will create a unique and powerful platform that will unlock significant value for customers and shareholders.”

– Tomer Bar-Zeev, CEO and co-founder of ironSource