Teads (formerly Outbrain, ticker: TEAD) is an open Internet advertising platform that connects advertisers with audiences across premium digital media, including web publishers, connected TV (CTV), and mobile apps. The company operates as a two-sided marketplace, working with roughly 10,000 media owners — publishers, CTV manufacturers, and app developers — to monetize their inventory, while helping advertisers reach audiences across the full marketing funnel, from brand awareness to direct conversions. Teads was formed through Outbrain's February 2025 acquisition of Legacy Teads for approximately $900M, combining Outbrain's performance advertising and DSP capabilities with Legacy Teads' premium video and branding expertise. The platform reaches over 2B consumers monthly across 30+ countries. Teads serves two broad customer types: large global brands and agencies (including ~50 Joint Business Partnerships with major brands like Apple, LVMH, and Nestlé), and SME and direct-response advertisers who access the platform via self-service tools, including the Outbrain DSP. Teads makes money when advertisers buy media inventory through its platform, with Ex-TAC gross profit (revenue minus traffic acquisition costs paid to media owners) as its primary profitability metric. CTV is the fastest-growing area, with exclusive home-screen placements on LG and VIDAA smart TVs providing access to 300M+ TV screens globally. Teads' core growth strategy centers on cross-selling branding and performance solutions across its combined customer base, expanding CTV, and deepening exclusive supply relationships with premium publishers and OEMs.