While the company is suffering from some temporary softness in CTV due to automotive and travel segments, things are already improving.
CTV, as well as DV+ and more generally programmatic advertising remain secular tailwinds with the company now the largest independent SSP.
There is great operational leverage in the business model and acquisition cost will run off their finances which will absorb most of any softening of the economy.
The shares are surprisingly modestly valuated.
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