Integral Ad Science reported its third‑quarter 2025 financial results on November 4, 2025. Revenue totaled $154.4 million, a 16% year‑over‑year increase from $133.5 million in Q3 2024. Net income was $7.0 million, down from $16.1 million in the prior year, giving a net‑income margin of 4.5%. Adjusted EBITDA reached $55.3 million, representing a 35.8% margin on revenue.
Revenue growth was driven by the optimization segment, which generated $73.7 million (21% YoY), the publisher segment, which produced $23.5 million (21% YoY), and the measurement segment, which delivered $57.1 million (8% YoY). Higher operating costs contributed to the decline in net income relative to the previous year.
IAS exceeded its Q3 revenue guidance of $148–$150 million. Because the company is in the process of being acquired, it will not provide a full‑year outlook for 2025.
IAS entered into a definitive agreement to be acquired by Novacap for $10.30 per share, valuing the transaction at approximately $1.9 billion. The purchase price represents a 22% premium over the closing price on September 23, 2025. Closing is expected in Q4 2025. Termination fees are $52.5 million for IAS and $100 million for Novacap, and existing shareholder Vista will exit its investment.
The acquisition marks IAS’s transition to a private company and is expected to provide resources for AI‑first technology investment and accelerate innovation in digital advertising verification.
In Q2 2025, IAS reported revenue of $149.2 million, net income of $16.4 million, and adjusted EBITDA of $51.6 million, setting the stage for the Q3 results and the forthcoming acquisition.
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