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Advertisers use Taboola.com Ltd. to reach potential customers beyond search engines and social media, while publishers use it to earn money from their websites and apps. Its Realize platform lets advertisers run campaigns across publisher properties. Taboola uses what people read and how they interact with those properties to predict which ads may interest them. Advertisers pay for clicks, purchases or, in some cases, ad views; most revenue comes from larger advertisers working directly with Taboola rather than through agencies.
Yahoo and Microsoft are its largest digital-property partners and together supply a substantial share of the business. Taboola shares advertising revenue with partners, but some agreements require minimum payments even when ads do not earn enough to cover them. Its earnings therefore depend on generating enough advertising revenue from the space partners provide. Advertisers generally make no long-term spending commitments, so campaign results and repeat business matter.
Privacy laws and browser and mobile-platform restrictions limit the user data Taboola can use to target ads and measure results. It must also clearly identify advertising, including ads designed to fit alongside a publisher’s regular content.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Watch Yahoo as well as Microsoft: properties supplied by these two partners accounted for approximately 34% of Taboola’s 2025 gross advertiser revenue on digital properties.
Teads Holding Co. competes with Taboola for both advertisers and premium media owners’ ad space, charging advertisers for clicks or impressions while Taboola shares advertiser revenue with its publishing partners. Teads’ premium media partnerships show the competing supply of ad space available to advertisers.
AppLovin competes with Taboola for advertisers’ outcome-driven budgets: both use predictive engines to match ads with publisher audiences. Watch Axon Ads Manager, which generates substantially all of AppLovin’s revenue by charging advertisers according to campaign goals, as a rival to Taboola’s Realize.
Google competes with Taboola for performance-advertising budgets and publishers’ ad space, so the rivalry reaches both Taboola’s revenue and what it must offer publishers. Google’s advertising business across Search, YouTube and network partners is the relevant business to watch; competition for publishers can force Taboola to share more revenue or charge less.
Meta Platforms competes with Taboola’s publisher-network ads for marketers’ lead-generation and conversion budgets, selling ad placements across its family of apps. Its Family of Apps advertising revenue—not Reality Labs hardware sales—is the business to watch against Taboola’s Realize.
The Trade Desk competes with Taboola to handle advertisers’ and agencies’ purchases of ads on third-party properties. It charges clients a platform fee generally tied to their spending, making spending through its platform a useful window into competing demand outside closed search and social platforms.
PubMatic, Inc. gives publishers an alternative to Taboola for earning money from their ad space, connecting them with buyers and generally taking a percentage of the value of ads shown. Its business with publishers across display, video, mobile and connected TV is the relevant comparison, though its buyers mostly spend on brand advertising.
Magnite, Inc. competes with Taboola to help media owners earn money from ad space, though Magnite focuses more on connected TV. It sends sellers’ ad opportunities to buyers for bidding and generally takes a share of spending; its connected-TV seller relationships help distinguish that business from Taboola’s publisher network.
Microsoft supplies important properties where Taboola shows advertisers’ ads, while also selling online advertising that competes for the same budgets. Watch changes to these partnerships: Microsoft and Yahoo together accounted for approximately 34% of Taboola’s 2025 gross advertiser revenue on digital properties, and losing business or accepting worse terms could significantly hurt Taboola.
Pinterest competes with Taboola for retailers’ and brands’ budgets aimed at turning product discovery into clicks and purchases. Pinterest’s performance ads billed for clicks, actions or conversion events are the closest comparison to Taboola’s Realize campaigns and Connexity product listings.
Amazon competes with Taboola for advertisers’ budgets, including spending intended to drive purchases. Amazon’s advertising offerings are the relevant rival to Taboola’s paid ads, product listings and retailer links—not its retail sales as a whole.
Alphabet Inc. earningsGOOG
Google competes with Taboola for ad budgets and publisher ad space, and its report can show how much pressure that rivalry puts on Taboola’s prices and publisher shares.
Look at Google’s advertising across Search, YouTube and network partners, and for any indication that it is pressing harder for publisher ad space. Strong advertising alongside tougher competition for that space could give publishers more leverage to seek a larger share from Taboola, or force Taboola to charge advertisers less. If that competitive pressure eases, those demands may be less intense.
Microsoft Corp earningsMSFT
Microsoft is both an important publisher partner and an advertising competitor for Taboola, so its report can offer clues about changes in the ad supply and competition the two share.
Watch Microsoft’s advertising business and any explicit disclosure about changes to its digital-property partnerships. Microsoft and Yahoo together accounted for about 34% of Taboola’s 2025 gross advertiser revenue on digital properties, so a disclosed pullback in the relationship could threaten an important source of ad inventory. Continued cooperation would leave that channel in place, but Microsoft’s report cannot establish Taboola’s own contract terms.
Fed Interest Rate Decision
A Fed rate decision matters to Taboola because it can change the interest Taboola pays on its $102.3 million of variable-rate revolving debt.
Expected4.0%Last release4.0%
If it comes in above expectations
Higher rates can raise Taboola’s interest expense on this debt, leaving less operating cash for working capital, technology investment and other business needs.
If it comes in below expectations
Lower rates can reduce Taboola’s interest expense on this debt, leaving more operating cash for working capital, technology investment and other business needs.
Pinterest, Inc. earningsPINS
Pinterest turns product discovery into clicks and purchases for retailers and brands, so its report shows whether demand holds up in the shopping ads that overlap with Taboola’s Connexity listings.
Watch Pinterest’s ads billed for clicks, actions or conversions. If they hold up or grow, retailers and brands are still paying for purchases that begin with product discovery, supporting demand for Taboola’s Connexity listings and retail-oriented content ads. If they weaken, those budgets may be harder for Taboola to win.
Taboola.com Ltd. earningsThis company
Taboola earns from advertisers and shares the proceeds with publisher partners, so this report shows how much of its ad revenue growth remains after traffic acquisition costs.
Read revenue alongside ex-TAC gross profit, which excludes traffic acquisition costs—the payments Taboola makes to publisher partners. If both grow, more of the added ad revenue remains after those payments. If revenue rises but ex-TAC gross profit stalls, partner shares or guaranteed payments are absorbing the growth, so a larger ad business is not necessarily becoming more profitable.
Applovin Corporation earningsAPP
AppLovin’s Axon Ads Manager charges advertisers according to campaign goals and competes with Taboola’s Realize, so its report can show whether demand for outcome-focused ads is holding up.
Watch whether Axon continues to attract advertiser spending. Stable or rising spend shows advertisers are still paying for outcome-focused ads, supporting demand for Taboola’s Realize while leaving both platforms to compete for those budgets. A decline could point to a smaller pool of performance-ad spending, not just a Taboola-specific problem.
