$TTGT

TechTarget, Inc.

CIK:0002018064|SEC Filings

Unaudited Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues	$ 116,148	$ 119,943	$ 222,196	$ 223,830
Cost of revenues	(51,665)	(51,164)	(99,691)	(95,324)
Gross profit	64,483	68,779	122,505	128,506
Operating expenses:
Selling and marketing	29,672	37,063	63,099	70,373
General and administrative	21,899	18,921	40,729	43,205
Product development	3,356	2,596	7,019	5,385
Depreciation	419	531	1,133	1,063
Amortization, excluding amortization of $3,206, $2,950, $6,322, and $5,423 included in cost of revenues	22,619	22,898	44,556	46,186
Impairment of goodwill	0	382,248	45,006	841,348
Restructuring expense (income)	73	0	(382)	0
Acquisition and integration costs	8,526	14,811	24,348	24,139
Remeasurement of contingent consideration	0	0	36	0
Total operating expenses	86,564	479,068	225,544	1,031,699
Operating loss	(22,081)	(410,289)	(103,039)	(903,193)
Interest income	51	62	103	888
Other income (expense), net	451	(5,222)	1,351	(8,316)
Loss before provision for income taxes	(23,745)	(418,264)	(105,885)	(915,249)
Income tax benefit (provision)	2,010	19,602	13,369	(6,801)
Net loss	(21,735)	(398,662)	(92,516)	(922,050)
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	1,651	6,768	232	10,758
Total comprehensive loss	$ (20,084)	$ (391,894)	$ (92,284)	$ (911,292)
Net loss per common share:
Basic	$ (0.3)	$ (5.58)	$ (1.28)	$ (12.9)
Diluted	$ (0.3)	$ (5.58)	$ (1.28)	$ (12.9)
Weighted average common shares outstanding:
Basic	72,308,647	71,487,725	72,301,012	71,476,670
Diluted	72,308,647	71,487,725	72,301,012	71,476,670
Related Party [Member]
Revenues	$ 45	$ 347	$ 107	$ 571
Cost of revenues	(5)	(323)	(15)	(600)
Operating expenses:
Acquisition and integration costs	969	5,126	1,960	5,353
Related party interest expense	(2,166)	(2,815)	(4,300)	(4,628)
Other income (expense), net	$ 1,775	$ 0	$ 1,775	$ 0

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net loss	$ (92,516)	$ (922,050)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	1,133	1,063
Amortization	50,878	51,609
Allowance for credit losses	438	965
Operating lease expense	2,182	2,520
Stock-based compensation	4,433	8,119
Deferred tax provision	(15,445)	(24,302)
Impairment of goodwill	45,006	841,348
Fair value adjustment to debt	0	1,323
Gain on sale of intangible assets to related party	(1,775)	0
Loss on disposal of intangibles	899	0
Loss on disposal of property, plant and equipment	461	5
Net foreign exchange (gain)/loss	(848)	7,849
Remeasurement of contingent consideration	36	0
Other	0	(333)
Changes in operating assets and liabilities (net of the impact of acquisitions):
Accounts receivable	12,399	1,567
Prepaid expenses and other current assets	(1,038)	(1,227)
Related party receivables	2,659	(3,855)
Accounts payable	(3,148)	(602)
Income taxes payable	(639)	29,466
Accrued expenses and other current liabilities	(7,277)	(7,784)
Accrued compensation expenses	(1,290)	2,433
Operating lease assets and liabilities with right of use	(5,846)	(2,994)
Contract liabilities	11,887	15,152
Contingent consideration	(43)	0
Other assets (liabilities)	239	257
Related party payables	514	13,177
Net cash provided by operating activities	3,299	13,706
Investing activities:
Purchases of property and equipment, and other capitalized assets	(2,068)	(81)
Purchases of intangible assets	(9,333)	(8,488)
Purchase of investments	0	(291)
Sale of assets to related party	1,775
Acquisitions of businesses, net of acquired cash	(1,536)	0
Sale of investments	0	76,795
Net cash provided by (used in) investing activities	(11,162)	67,935
Financing activities:
Tax withholdings related to net share settlements	(26)	0
Proceeds from related party long term debt	13,377	135,000
Contingent consideration settlement	(246)	0
Proceeds from sale of common stock under employee stock purchase program	114
Repayment of related party long term debt		(15,000)
Repayment of convertible notes	0	(417,033)
Net cash provided by (used in ) financing activities	13,219	(297,033)
Effect of exchange rate changes on cash and cash equivalents	(162)	1,141
Net increase (decrease) in cash and cash equivalents	5,194	(214,251)
Cash and cash equivalents at December 31	40,626	275,983
Cash and cash equivalents at June 30	45,820	61,732
Supplemental disclosure of cash flow information:
Cash paid for taxes, net	2,154	817
Cash paid for interest on related party long term debt	$ 3,934	$ 4,376

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 45,820	$ 40,626
Accounts receivable, net of allowance for credit losses of $1,378 and $1,168 respectively	70,785	83,819
Related party receivables	1,359	4,019
Prepaid taxes	11,450	11,329
Prepaid expenses and other current assets	14,746	15,592
Total current assets	144,160	155,385
Non-current assets:
Property and equipment, net	2,717	2,299
Goodwill	1,094	45,550
Intangible assets, net	684,517	725,525
Operating lease right-of-use assets	16,016	3,178
Deferred tax assets	3,364	3,360
Other non-current assets	1,575	2,011
Total non-current assets	709,283	781,923
Total assets	853,443	937,308
Current liabilities:
Accounts payable	18,006	21,160
Related party payables	5,051	5,671
Contract liabilities	62,522	50,526
Operating lease liabilities	2,434	3,112
Accrued expenses and other current liabilities	15,300	22,572
Accrued compensation expenses	17,672	19,037
Income taxes payable	3,662	4,349
Contingent consideration	710	190
Total current liabilities	125,357	126,617
Non-current liabilities:
Operating lease liabilities	9,136	1,426
Other liabilities	6,269	6,008
Related party long-term debt	120,091	106,714
Deferred tax liabilities	85,219	100,664
Contingent consideration	515	1,260
Total non-current liabilities	221,230	216,072
Total liabilities	346,587	342,689
Stockholders’ equity:
Common stock,$0.001 par value; 250,000,000-shares authorized; 72,346,562 shares issued and 72,328,574 shares outstanding at June 30, 2026; 72,308,235 shares issued and 72,291,454 shares outstanding at December 31, 2025	72	72
Treasury stock, at cost; 17,988 and 16,781 shares at June 30, 2026 and December 31, 2025, respectively	(715)	(689)
Additional paid-in capital	1,652,387	1,647,840
Accumulated deficit	(1,176,759)	(1,084,243)
Accumulated other comprehensive income	31,871	31,639
Total stockholders' equity	506,856	594,619
Total liabilities and stockholders' equity	$ 853,443	$ 937,308