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AdTheorent Holding Company, Inc. reported its first quarter 2024 financial results, showcasing a $34.9 million revenue, a 6.7% increase from Q1 2023. However, gross profit saw a 0.2% decrease, and net loss was $9.9 million compared to $5.2 million in Q1 2023. Adjusted EBITDA decreased by 50.0% to $0.2 million. AdTheorent also announced a transaction with Cadent, for acquisition at $324 million in cash.
AdTheorent has been recognized as a technology leader in the 2024 SPARK Matrix for AdTech Platforms by Quadrant Knowledge Solutions. The company's machine learning-powered technology platform received high ratings for its technology excellence and customer impact. AdTheorent's unique features, such as predictive targeting and ID-independent targeting, help address challenges in the digital advertising industry. The company's strong partner ecosystem, product strategy, and performance have positioned it as an emerging leader in the AdTech Platform market.
