ZETAMEDIUM SIGNALOPERATIONAL10-K

Zeta has completed integration of its LiveIntent acquisition, rebranding key products while delivering solid revenue growth and meaningfully improved profitability.

The language changes show Zeta has fully absorbed LiveIntent's capabilities into its core platform, with the identity graph now integrated into "Zeta SuperGraph" and intelligence suite rebranded as "Zeta Answers." This operational consolidation appears successful given the strong financial performance. The company is expanding its data reach to over 535 million individuals globally, positioning it well in the competitive marketing technology landscape.

Comparing 2026-02-25 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

Zeta delivered robust 30% revenue growth to $1.3B while substantially reducing losses, with net losses narrowing meaningfully from the prior year. Operating cash flow grew nearly 49% to $199M, demonstrating strong underlying business momentum, while the company reduced capital expenditures by 46%. Balance sheet expansion reflects business growth with assets increasing 35% and receivables growing proportionally, though total liabilities increased 61% which bears monitoring.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
-94.8%
$7.1M→$371K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Total Liabilities
Balance Sheet
+60.8%
$434.6M→$698.9M

Liabilities grew 60.8% — significant increase in debt or obligations, assess impact on financial flexibility.

Net Income
P&L
+54.8%
-$69.8M→-$31.5M

Net income grew 54.8% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+48.6%
$133.9M→$198.9M

Operating cash flow surged 48.6% — exceptional cash generation, highest quality earnings signal.

Capital Expenditure
Cash Flow
-46.3%
$25.7M→$13.8M

Capex reduced 46.3% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Accounts Receivable
Balance Sheet
+37.1%
$235.2M→$322.4M

Receivables surged 37.1% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Total Assets
Balance Sheet
+35.3%
$1.1B→$1.5B

Asset base grew 35.3% — expansion through organic growth, acquisitions, or capital deployment.

Revenue
P&L
+29.7%
$1.0B→$1.3B

Revenue growing 29.7% — solid top-line momentum, watch margins for quality of growth.

R&D Expense
P&L
+29.2%
$90.7M→$117.2M

R&D investment increased 29.2% — signals commitment to future product development, though near-term margin impact.

Stockholders Equity
Balance Sheet
+18.9%
$676.8M→$804.6M

Equity base grew 18.9% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-25
PRIOR — 2025-02-26
ADDED
The ZMP enables brands to connect with consumers through native integration of marketing channels and application programming interface ( API ) integration with third parties.
Our Zeta SuperGraph improves identity resolution while maintaining compliance with evolving privacy standards.
Zeta Answers, our intelligence suite, synthesizes Zeta s proprietary data and data generated by our customers to uncover consumer insights that are translated into marketing programs designed for highly targeted audiences across digital channels, including email, SMS, websites, applications, social media, CTV and chat.
Zeta s Data Platform Zeta s Data Platform has two major components: Data Infrastructure Zeta operates a deterministic system of record built on an in-house data lake architecture designed to support scale, performance, and reliability.
This infrastructure includes our proprietary Zeta SuperGraph that enables identity resolution and relationship mapping across disparate data sources, as well as data pipelines and APIs that support the ingestion, normalization, governance, and activation of large volumes of structured and unstructured data.
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REMOVED
( LiveIntent )), divert the attention of management and disrupt our business, dilute stockholder value and adversely affect our business, operating results and financial condition; The technology industry is subject to increasing scrutiny that could result in U.S.
With the integration of LiveIntent s identity graph and publisher network, we have strengthened our Data Cloud assets and our ability to deliver authenticated, people-based marketing across addressable channels.
The integration of LiveIntent s identity graph expands Zeta s first-party data foundation, strengthening authenticated identity resolution and deterministic targeting.
The ZMP enables brands to connect with consumers through native integration of marketing channels and API integration with third parties.
Our Consumer Data Platform ( CDP+ ) now integrates LiveIntent s identity graph, improving identity resolution while maintaining compliance with evolving privacy standards.
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