Fiscal Q2 2025 revealed a revenue decrease of 24% year-over-year, amounting to $44.7 million. The Commerce Media Solutions Revenue increased by 121% year-over-year to $16.1 million. Media margin also dropped to $11.9 million, representing 26.7% of revenue. Adjusted EBITDA showed an improvement to ($2.8) million, while the GAAP net loss was $7.2 million, marking an improvement from previous fiscal periods. Declined performance was attributed to challenges including regulatory constraints and adjustments in pricing structures.
Our owned and operated marketplace decline of 31% quarter over quarter, exacerbated by strong regulatory headwinds.
Commerce media margin in 2025 was $3.2 million or 20% of commerce media solutions revenue, compared with $2.2 million or 30.4% of revenues in 2024.
FTC settlement really restricted our ability to buy on certain media channels profitably, and it was primarily on the biddable platforms.
Adjusted EBITDA was ($2.8) million for fiscal Q2 2025, a $1.7 million improvement from the prior year and a $0.3 million sequential improvement.
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