TechTarget Q3 sales misses estimates on lower advisory revenues

Overview

• B2B intelligence provider's Q3 revenue fell 2.5% yr/yr and missed analyst expectations

• Company's Q3 net loss narrowed sharply from prior year

• Q3 Adjusted EBITDA declined yr/yr due to lower revenue and cost inflation

Outlook

• Company expects full-year 2026 revenues to be modestly lower than prior year

• TechTarget forecasts full-year 2026 Adjusted EBITDA of $80 mln to $85 mln

• Company expects strong sequential revenue and profit improvement in Q4 2026 due to live events

Result Drivers

• INTENT DATA & CAMPAIGN TIMING - Co said lower Brand to Demand revenue was mainly due to reduced Intent Data revenue and timing of customer campaigns, especially internationally

• ADVISORY REVENUE - Co said Intelligence & Advisory segment saw subscription growth offset by lower advisory revenues

• COST INFLATION - Co said lower Adjusted EBITDA margin reflected lower revenue and cost inflation, partly offset by cost savings and synergies

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the online services peer group is "buy"

• Wall Street's median 12-month price target for TechTarget Inc is $8.00, about 133.2% above its November 5 closing price of $3.43

Reuters Recommended Reads

• Nov 5 - Teradata Q3 revenue falls 4% but slightly beats estimates

• Nov 4 - ZoomInfo Q3 revenue falls 3%

• Nov 5 - Definitive Healthcare Q3 revenue falls; withholds guidance

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)