May 9, 2024
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TechTarget Revenue Drops Year Over Year, But Exceeds Target

TechTarget, a b2b media company, announced its financial results on May 9th. In a shareholder letter, the company said, “We are pleased with the continued stabilization of our business during the first quarter and happy to announce we beat our first quarter revenue target.”

  • Revenue: $51.6 million, down 10% from Q1 2023
  • Geographic Breakdown: 62% North America; 38% International
  • Operating loss: -$10.9 million, compared to an operating income of $315,000 in Q1 2023.

Several factors contributed to the down quarter, including significant macro headwinds. In the 10-Q release, the company wrote, “Because most of our customers are b2b technology companies, the success of our business is intrinsically linked to the health, and subject to the market conditions, of the IT industry.” It explains that significant headwinds are tied to inflation, high interest rates, the presidential election, and other geopolitical issues.

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