Comscore lost money in the first quarter as weak linear ad sales impacted its cross-platform measurement business.
Comscore’s net loss was $5.2 million, or $1.08 a share in the quarter, compared to a loss of $12.5 million, or $2.66 a share, a year ago.
Revenue dipped 5% to $86.8 million Cross-platform solution revenue was down 9.7% because of lower national TV revenue.
For the full year 2024, Comscore expects revenue to be between $375 million and $390 million, with an adjusted EBITDA margin of between 12% and 15%.
The company said it anticipates national TV revenue to continue to be impacted by pressure on linear ad spending. Demand for customer digital products will continue to be unpredictable due to the macroeconomic environment.
Comscore expects second quarter revenue to be down from the prior year, but it see revenue growth building in the second half as revenue from its Proximic and CCR products ramp up.
"While revenue came in slightly below our expectations, our teams continued to make encouraging progress against a number of key initiatives that are critical to our transformation," said CEO Jon Carpenter.
"Our adjusted EBITDA performance, and key product and client progress that we've continued to make with our cross-platform offerings, are evidence we're moving in the right direction,” he said. “I remain confident in the direction we're taking the business, and we will continue to leverage Comscore's cross-platform capabilities to deliver value to our stakeholders."
