Comscore — Third Quarter 2026 Earnings Summary

Financial Performance:

• Q3 2026 revenue was $76.2 million, a 14.3% decrease from $88.9 million in Q3 2025 (4.1% decrease on a pro forma basis excluding $9.5 million from the divested Movies business).
• Net loss for Q3 2026 was $65.5 million compared to net income of $0.5 million in Q3 2025.
• Q3 2026 net loss included a non-cash goodwill impairment charge of $57.3 million and restructuring costs of $5.5 million.
• Adjusted EBITDA for Q3 2026 was $5.8 million, down from $11.0 million in Q3 2025.
• Adjusted EBITDA margin was 7.6% in Q3 2026 compared to 12.4% in Q3 2025.
• Core operating expenses were $79.6 million in Q3 2026, an 8.0% decrease from $86.6 million in Q3 2025.
• Cash, cash equivalents, and restricted cash totaled $19.5 million as of September 30, 2026.
• The company repaid all outstanding obligations under its senior secured credit facility in May 2026; debt obligations now consist only of finance leases related to equipment purchases.
• Loss per share attributable to common shares was $(4.26) for Q3 2026.

Guidance and Future Outlook:

• The company reaffirmed full-year 2026 revenue guidance between $315 million and $325 million.
• Full-year 2026 adjusted EBITDA margin is expected to be in the low-to-mid single digits.
• Management expects to generate $20 million to $25 million in annual run-rate cost savings from the realignment plan.
• Savings will be used to execute the ROI strategy and invest in long-term growth opportunities in 2027.
• The company does not provide forward-looking GAAP net income or margin guidance due to uncertainty regarding stock-based compensation, fair value adjustments, litigation, restructuring, and strategic transaction costs.

Business Segments and Product Lines:

• Content & Ad Measurement revenue decreased 14.4% year-over-year (2.1% decrease on a pro forma basis), driven by lower Syndicated Audience revenue due to the Movies business divestiture and lower performance in syndicated digital products.
• Cross-Platform revenue was flat year-over-year, with lower usage in Proximic offset by new business in CCM.
• Research & Insight Solutions revenue decreased 13.9% year-over-year, primarily due to lower renewals and lower deliveries of certain custom digital products.
• The Movies business was divested on May 27, 2026.

Market and Competitive Landscape:

• The company is executing a transformational ROI strategy to realign the business and cost structure, optimize operations, and invest in higher-potential growth areas.
• Management is focused on rationalizing the operational footprint and serving customers in the core business.

Risks and Challenges:

• The company faces risks related to the execution of the realignment plan, including potential higher-than-expected implementation costs and unintended consequences.
• Risks include cash flow and liquidity challenges related to plan implementation and the loss of non-strategic revenue.
• Potential impacts from evolving restrictions on data collection and matching, litigation, regulatory costs, and external market conditions are noted.
• Future results may be materially impacted by uncertain items such as stock-based compensation, fair value adjustments, and strategic transaction costs.

Management Commentary and Tone:

• CEO Matt McLaughlin stated the team executed the new operating model with urgency to achieve significant cost savings and expressed confidence in exiting the year well-positioned to transform the business in 2027.
• CFO Mary Margaret Curry noted the company is in the early innings of the ROI strategy and is seeing signs of progress.
• Management emphasized a focus on building a foundation for long-term value creation.

Other Key Points:

• The company divested the Movies business in May 2026.
• Net cash used in the third quarter included $3.0 million in payments related to the restructuring plan and $1.9 million in strategic transaction costs related to the Movies divestiture.
• Proceeds from the divestiture of the Movies business, net of cash transferred, were $55.7 million during the nine months ended September 30, 2026.
• The company recorded a non-cash goodwill impairment charge of $57.3 million due to a decline in stock price and market capitalization.
• The company hosts a conference call on November 3, 2026, at 5:00 p.m. ET to discuss results.