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IAS

Integral Ad Science Holding Corp.

IAS

Integral Ad Science Holding Corp. • NASDAQ
$10.28 ▲ 0.00% (+0.00)
Market Cap $1.72 B
52w High $11.78
52w Low $6.26
Dividend Yield 0%
P/E 36.71
Volume 249.95K
Outstanding Shares 167.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $154.358M ▲ $111.231M ▲ $7.045M ▼ 4.564% ▼ $0.042 ▼ $17.078M ▼
Q2-2025 $149.204M ▲ $93.903M ▲ $16.408M ▲ 10.997% ▲ $0.1 ▲ $32.412M ▲
Q1-2025 $134.066M ▼ $92.489M ▼ $7.993M ▼ 5.962% ▼ $0.05 ▼ $27.914M ▼
Q4-2024 $153.038M ▲ $94.193M ▲ $15.271M ▼ 9.979% ▼ $0.094 ▼ $42.447M ▲
Q3-2024 $133.528M $85.968M $16.089M 12.049% $0.1 $36.43M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $129.204M ▲ $1.208B ▲ $102.862M ▲ $1.105B ▲
Q2-2025 $90.687M ▲ $1.172B ▲ $98.631M ▲ $1.074B ▲
Q1-2025 $59.12M ▼ $1.132B ▼ $97.326M ▼ $1.035B ▲
Q4-2024 $84.469M ▲ $1.152B ▲ $143.56M ▼ $1.008B ▲
Q3-2024 $57.085M $1.135B $152.211M $982.487M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $7.045M ▼ $49.108M ▼ $-10.94M ▲ $389K ▲ $38.262M ▲ $48.959M ▼
Q2-2025 $16.408M ▲ $55.237M ▲ $-11.24M ▼ $-14.173M ▲ $31.861M ▲ $55.077M ▲
Q1-2025 $7.993M ▼ $3.529M ▼ $-10.901M ▼ $-18.768M ▲ $-25.543M ▼ $2.975M ▼
Q4-2024 $15.271M ▼ $67.648M ▲ $-10.082M ▲ $-29.02M ▲ $27.728M ▲ $57.566M ▲
Q3-2024 $16.089M $25.448M $-10.303M $-29.884M $-13.768M $25.177M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily every year over the last five years, showing a business that is scaling consistently rather than in fits and starts. Profitability has improved meaningfully: the company moved from losses before going public to solidly positive operating profit and net income more recently. Margins have expanded as revenue has grown faster than costs, suggesting good operating leverage and disciplined expense control. The main watchpoint is that this is still an execution story: maintaining margin gains while continuing to invest in technology and sales will be key, especially in a cyclical ad market.

Balance Sheet

Balance Sheet The balance sheet looks progressively stronger over time. Total assets have grown, but what stands out more is that shareholders’ equity has risen steadily, indicating accumulated profits and a healthier capital base. Debt has been coming down year after year, reducing financial risk and interest burden. Cash remains a modest portion of total assets, so the company is not sitting on an unusually large cash pile, but the overall picture is of a business that has de‑levered and now relies more on equity strength than on borrowing.

Cash Flow

Cash Flow Cash generation has improved in line with earnings. Operating cash flow has been positive and rising for several years, showing that reported profits are backed by real cash. Free cash flow is also positive and has grown steadily, even after ongoing investment in technology and infrastructure. Capital spending has been relatively modest and stable, which supports cash generation but also means the company must be careful to keep investing enough in its platforms and data capabilities. Overall, the cash flow profile is consistent with a maturing, asset‑light software and data business.

Competitive Edge

Competitive Edge IAS occupies a critical niche in digital advertising: independent verification of ad quality, safety, and fraud. Its independence from major ad platforms gives it credibility as a neutral referee. The company benefits from strong network effects: the more campaigns it measures, the better its models become, which in turn attracts more customers. Deep technical integrations with major platforms such as Google, Meta, Amazon, TikTok, and others create switching costs for customers and make it harder for new entrants to displace IAS. Industry accreditations further strengthen trust. The exit of a notable competitor from the verification market has likely widened IAS’s opportunity, but the company still faces ongoing competitive pressure from other verification and analytics providers, as well as from large platforms building their own measurement tools.

Innovation and R&D

Innovation and R&D IAS’s offerings are heavily driven by AI and machine learning, which it applies to vast amounts of ad impression data. Its proprietary metrics—like Quality Impressions—go beyond simple counts to assess whether an ad was actually viewable, safe, and shown to a real person in the right context. The company has invested in advanced language and context analysis to improve brand safety and suitability, and in sophisticated fraud detection to separate human from bot traffic. On the product roadmap, IAS is pushing into newer areas such as attention measurement, connected TV, cookieless contextual targeting, and coverage of additional channels like audio and gaming. This innovation focus strengthens its moat but also requires continuous R&D spending to stay ahead of both fraudsters and rival measurement tools.

Summary

Integral Ad Science shows the financial and strategic profile of a growing, specialized technology provider in digital advertising. Revenue and profits have improved steadily, margins are expanding, and the company has reduced its debt while building shareholders’ equity. Cash flows are healthy and aligned with earnings, supporting ongoing investment. Strategically, IAS benefits from independence, deep integrations, large proprietary datasets, and recognized industry accreditations, which together create a meaningful competitive moat. Its focus on AI‑driven verification, contextual targeting, and emerging areas like attention metrics and connected TV position it well for structural shifts in digital advertising. Key risks to monitor include continued dependence on the ad spending cycle, the need to out‑innovate both platforms and other verification firms, and balancing aggressive product investment with the margin gains achieved so far.

NEWS

November 13, 2025 · 8:00 AM UTC

INTEGRAL AD SCIENCE EARNS MRC ACCREDITATION FOR REPORTING OF IMPRESSIONS, VIEWABILITY AND INVALID TRAFFIC ON AMAZON PROPERTIES

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November 4, 2025 · 7:35 AM UTC

IAS Reports Third Quarter 2025 Financial Results

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November 4, 2025 · 7:30 AM UTC

IAS and Snap Announce Expansion of Measurement Partnership to Validate Ad Effectiveness in Sponsored Snaps

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October 28, 2025 · 2:00 PM UTC

TikTok Selects IAS for Brand Safety Measurement for TikTok Pangle Advertisers

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October 28, 2025 · 8:00 AM UTC

Kaskela Law LLC Investigates Fairness of Proposed $10.30 Per Share Buyout of Integral Ad Science (Nasdaq: IAS) Stockholders and Encourages Investors to Contact the Firm

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