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Integral Ad Science Holding (IAS)

Integral Ad Science (IAS) is a global leader in digital media quality. IAS makes every impression count, ensuring that ads are viewable by real people, in safe and suitable environments, activating contextual targeting, and driving supply path optimization. Its mission is to be the global benchmark for trust and transparency in digital media quality for the world's leading brands, publishers, and platforms. IAS does this through data-driven technologies with actionable real-time signals and insight. Founded in 2009 and headquartered in New York, IAS works with thousands of top advertisers and premium publishers worldwide.

Company profile

Ticker
IAS
Exchange
Website
Employees
Incorporated
Location
Fiscal year end
Former names
INTEGRAL AD SCIENCE HOLDING LLC, KAVACHA TOPCO, LLC
SEC CIK
Subsidiaries
Integral Ad Science UK, Limited • Integral Ad Science, Inc. • Publica LLC ...
IRS number
830731995

IAS stock data

Calendar

4 Aug 22
27 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 80.35M 80.35M 80.35M 80.35M 80.35M 80.35M
Cash burn (monthly) 1.6M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 4.67M n/a n/a n/a n/a n/a
Cash remaining 75.67M n/a n/a n/a n/a n/a
Runway (months of cash) 47.4 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Sep 22 Anil Sukumaran Common Stock, $0.001 par value Sell Dispose S No No 8.088 885 7.16K 66,876
6 Sep 22 Anil Sukumaran Common Stock, $0.001 par value Sell Dispose S No No 7.77 3,089 24K 63,787
17 Jun 22 Tom Sharma Common Stock, $0.001 par value Common Stock, $0.001 par value Grant Acquire A No No 0 381,034 0 381,034
17 Jun 22 Lisa Utzschneider Common Stock, $0.001 par value Common Stock, $0.001 par value Grant Acquire A No No 0 1,000,212 0 1,000,212
17 Jun 22 Anil Sukumaran Common Stock, $0.001 par value Grant Acquire A No No 0 33,870 0 67,761
13F holders Current Prev Q Change
Total holders 92 92
Opened positions 19 32 -40.6%
Closed positions 19 21 -9.5%
Increased positions 41 44 -6.8%
Reduced positions 17 11 +54.5%
13F shares Current Prev Q Change
Total value 4.83B 5.69B -15.0%
Total shares 266.91M 265.81M +0.4%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Vista Equity Partners Management 94.38M $937.19M 0.0%
Vista Equity Partners Fund VI 94.38M $2.1B 0.0%
Atlas Venture Fund VIII 22.72M $504.67M 0.0%
Atlas Venture Advisors 22.72M $225.64M 0.0%
Sapphire Ventures, L.L.C. 5.04M $50.08M -12.0%
Vanguard 2.68M $26.63M +30.5%
Indaba Capital Management 2.43M $24.11M +26.0%
Wellington Management 2.33M $23.13M -26.1%
Schonfeld Strategic Advisors 2.3M $22.87M +29.0%
TimesSquare Capital Management 2.28M $22.64M +0.2%
Largest transactions Shares Bought/sold Change
Wellington Management 2.33M -822.61K -26.1%
Sapphire Ventures, L.L.C. 5.04M -687.98K -12.0%
Vanguard 2.68M +626.71K +30.5%
AMP Ameriprise Financial 607.15K +607.15K NEW
Schonfeld Strategic Advisors 2.3M +517.53K +29.0%
Indaba Capital Management 2.43M +500.54K +26.0%
Stony Point Capital 228.22K -477.02K -67.6%
Zeno Research 0 -339.9K EXIT
BLK Blackrock 1.93M +323.64K +20.2%
Nuveen Asset Management 667.38K +312.89K +88.3%

Financial report summary

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Competition
DoubleVerify
Risks
  • Economic downturns and market conditions beyond our control, including as a result of the COVID-19 pandemic, could materially adversely affect our business, operating results, financial condition and prospects.
  • Our revenue and results of operations are highly dependent on the overall demand for advertising. Factors that affect the amount of advertising spending, such as economic downturns, instability in political or market conditions generally, and any changes in tax treatment of advertising expenses, can make it difficult to predict our revenue and could adversely affect our business, results of operations, and financial condition.
  • If we fail to innovate and make the right investment decisions in our offerings and platform, including responding to technological changes or upgrading our technology systems, we may not attract new customers and retain customers and our revenue and results of operations may decline.
  • If our existing and future product offerings fail to maintain or achieve industry accreditation standards, customer acceptance of our products may decrease which could have a material adverse effect on our business and results of operations.
  • If we are unable to provide digital or cross-platform analytics, or if our analytics are incomplete, our ability to maintain and grow our business may be harmed.
  • We rely on integrations with advertising platforms, DSPs, proprietary platforms and ad servers, over which we exercise very little control.
  • The market in which we participate is intensely competitive, both from established and new companies, and we may not be able to compete successfully with our current or future competitors.
  • We may be exposed to risk as a result of our third parties, and we may not be able to recover such losses from them.
  • Our international expansion may expose us to additional risks.
  • If we are not able to maintain and enhance our brand, our business, financial condition and operating results may be adversely affected.
  • Our future success will depend in part on our ability to expand into new channels.
  • We have a history of net losses and may not achieve or sustain profitability in the future, particularly if our revenue growth rate may decline.
  • We are subject to payment-related risks and, if our customers do not pay or dispute their invoices, our business, financial condition and operating results may be adversely affected.
  • We have revenue share agreements with certain DSPs and any material changes to those sharing arrangements could affect our costs.
  • Clients periodically review and change their advertising, marketing and corporate communications requirements and relationships. If we are unable to remain competitive, retain key clients or lose several of our largest clients, our business, results of operations and financial position may be adversely affected.
  • Our sales and marketing efforts may require significant investments and, in certain cases, involve long sales cycles, which can result in significant time between initial contact with a prospect and execution of a customer contract, making it difficult to project when, if at all, we will obtain new customers and when we will generate revenue from those customers.
  • If we do not manage our growth effectively, the quality of our platform and solutions may suffer, and our business, results of operations, and financial condition may be adversely affected.
  • Acquisitions we have completed in the past and may consummate in the future, strategic investments or alliances could disrupt our business and harm our business, financial condition and results of operations.
  • Our ability to achieve our anticipated growth plans will depend on our ability to expand our center of excellence in India in a cost efficient manner.
  • Our international operations require increased expenditures and impose additional risks and compliance imperatives, and failure to successfully execute our international plans will adversely affect our growth and operating results.
  • Certain of our operating results and financial metrics may be difficult to accurately predict as a result of seasonality.
  • Our revenue model depends on high impression volumes, the growth of which may not be sustained.
  • We have a short operating history, which makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful.
  • The market for buying digital advertising verification solutions is relatively new and evolving. If this market and the corresponding markets develop slower or differently than we expect, our business, growth prospects and financial condition would be adversely affected.
  • Our estimates of market opportunity and forecasts of market growth included in this Annual Report may prove to be inaccurate.
  • We may experience fluctuations in our results of operations, which could make our future results of operations difficult to predict or cause our results of operations to fall below analysts’ and investors’ expectations.
  • Our corporate culture has contributed to our success and, if we are unable to maintain it as we grow, our business, financial condition and results of operations could be harmed.
  • Our business is subject to the risks of earthquakes, fires, floods and other natural catastrophic events and to interruption by man-made problems such as terrorism, computer viruses or social disruption impacting advertising spending.
  • Failures in the systems and infrastructure supporting our solutions and operations could significantly disrupt our operations and harm our business, financial condition and results of operations, harm our reputation and cause us to lose customers.
  • Operational, technical and performance issues with our platform, whether real or perceived may adversely affect our business, reputation, financial condition and operating results.
  • If unauthorized access is obtained to user, customer or inventory and third-party provider data, or our platform is compromised, our services may be disrupted or perceived as insecure, and as a result, we may lose existing customers or fail to attract new customers, and we may incur significant reputational harm and legal and financial liabilities.
  • Our inability to use software licensed from third parties, or our use of open source software under license terms that interfere with our proprietary rights, could disrupt our business.
  • If the non-proprietary technology, software, products and services that we use are unavailable, become subject to future license or other terms we cannot agree to, or do not perform as we expect, our business, financial condition and results of operations could be harmed.
  • We may be sued by third parties for alleged infringement, misappropriation or other violation of their proprietary rights, which would result in additional expense and potential damages.
  • We may be unable to obtain, maintain, protect or enforce intellectual property and proprietary rights that are important to our business, which could enable others to copy or use aspects of our technology without compensating us, thereby eroding our competitive advantages and harming our business.
  • We may become involved in lawsuits to protect or enforce our intellectual property, which could be expensive, time consuming and unsuccessful.
  • We may become subject to claims that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers.
  • If our trademarks and trade names are not adequately protected, we may not be able to build name recognition in our markets of interest and our competitive position may be harmed.
  • Privacy and data protection laws and regulation on digital advertising may cause us to incur additional or unexpected costs, subject us to enforcement actions for compliance failures, or cause us to change our platform or business model, which may have a material adverse effect on our business.
  • Concerns regarding data privacy and security relating to our industry’s technology and practices, and perceived failure to comply with laws and industry self-regulation, could damage our reputation and deter current and potential customers from using our products and services.
  • Operating in multiple countries requires us to comply with different legal and regulatory requirements.
  • Uncertainty caused by lack of uniformity among laws to which we are or may become subject and instability in the global legal landscape may cause us to incur additional or unexpected costs and legal risk, increase our risk of reputational harm, or cause us to change our platform or business model.
  • Our annual effective income tax rate can change materially as a result of changes in our mix of U.S. and foreign earnings and other factors, including changes in tax laws and changes made by regulatory authorities.
  • We previously identified material weaknesses in our internal control over financial reporting that continues to exist. If we are unable to remediate the material weaknesses in a timely manner, if we identify additional material weaknesses or fail to design and maintain effective internal control over financial reporting, our ability to accurately report our financial condition and results of operations on a timely basis or comply with applicable laws and regulations could be impaired, which may adversely affect investor confidence and, as a result, the value of our common stock.
  • We are an “emerging growth company” and we expect to elect to comply with reduced public company reporting requirements, which could make our common stock less attractive to investors.
  • The requirements of being a public company may strain our resources and distract our management, which could make it difficult to manage our business, particularly after we are no longer an “emerging growth company.”
  • If we fail to maintain an effective system of internal control over financial reporting in the future, we may not be able to accurately or timely report our financial condition or results of operations. If our internal control over financial reporting is not effective, it may adversely affect investor confidence in us and the price of our common stock.
  • Our management team has limited experience managing a public company.
  • We depend on our senior management team and other key personnel to manage our business effectively, and if we are unable to retain such key personnel or hire additional qualified personnel, our ability to compete could be harmed.
  • If we are unable to attract, integrate and retain additional qualified personnel, including top technical talent, our business could be adversely affected.
  • Our existing indebtedness could adversely affect our business and growth prospects.
  • Despite current indebtedness levels and restrictive covenants, we may still be able to incur substantially more indebtedness or make certain restricted payments, which could further exacerbate the risks associated with our substantial indebtedness.
  • We may not be able to generate sufficient cash flow to service all of our indebtedness, and may be forced to take other actions to satisfy our obligations under such indebtedness, which may not be successful.
  • The terms of the financing documents governing our New Credit Agreement restrict our current and future operations, particularly our ability to respond to changes or to take certain actions.
  • We may be unable to refinance our indebtedness.
  • Our failure to raise additional capital or generate cash flows necessary to expand our operations and invest in new technologies in the future could reduce our ability to compete successfully and harm our results of operations.
  • Vista Equity Partners controls us, and its interests may conflict with ours or yours in the future.
  • We are a “controlled company” within the meaning of the rules of the Nasdaq and, as a result, we qualify for, and have relied upon, exemptions from certain corporate governance requirements. Therefore, you do not have the same protections as those afforded to shareholders of companies that are subject to such governance requirements.
  • An active, liquid trading market for our common stock may not be sustained, which may limit your ability to sell your shares.
  • Provisions of our corporate governance documents could make an acquisition of us more difficult and may prevent attempts by our shareholders to replace or remove our current management, even if beneficial to our shareholders.
  • Our certificate of incorporation designates the Court of Chancery of the State of Delaware as the exclusive forum for certain litigation that may be initiated by our shareholders and the federal district courts of the United States as the exclusive forum for litigation arising under the Securities Act, which could limit our shareholders’ ability to obtain a favorable judicial forum for disputes with us.
  • Because we have no current plans to pay regular cash dividends on our common stock for the foreseeable future, you may not receive any return on investment unless you sell your common stock for a price greater than that which you paid for it.
  • If securities or industry analysts do not publish research or reports about our business, if they adversely change their recommendations regarding our shares or if our results of operations do not meet their expectations, our stock price and trading volume could decline.
  • We may issue shares of preferred stock in the future, which could make it difficult for another company to acquire us or could otherwise adversely affect holders of our common stock, which could depress the price of our common stock.
Management Discussion
  • Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
  • A discussion regarding our financial condition and results of operations for 2021 compared to 2020 is presented below.
  • Unless the context otherwise requires, the terms “Company,” “Integral Ad Science Holding Corp.,” “IAS,” “we,” “us,” “our,” or similar terms refer to Integral Ad Science Holding LLC and its consolidated subsidiaries before the corporate conversion, and Integral Ad Science Holding Corp. and, where appropriate, its subsidiaries after the corporate conversion. See Note 1 to the consolidated financial statements for additional information regarding our corporate conversion.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: Amino, April, automatically, BetterCloud, discrete, factor, fell, health, MSU, payout, recession, slower, unstable, Xactly
Removed: amendment, build, collectability, deterioration, experienced, expertise, facing, hard, identity, improved, Increasing, magnitude, minimal, negative, reflected, remotely, revision, temporarily, trailing, uncertain, unique