ZETA earnings analysis
What we found in ZETA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Zeta Global's Q1 2026 results show significant revenue growth, with actual revenue at $396.3 million, up 49.9% from the prior year despite an EPS loss of -0.053, lower than estimates. The company reported strong performance driven by new customer acquisitions and growth in existing accounts, although increased operating expenses have pressured margins.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Despite Loss
- Revenue for Q1 2026 was $396.3 million, a 49.9% increase from $264.4 million in Q1 2025.
- Acquisition Impact
- The acquisition of Marigold’s Enterprise Business contributed $55.6 million to revenues in Q1 2026.
- Super-scaled Customer Growth
- Zeta reported a 19% increase in super-scaled customers to 189, compared to 159 a year ago.
- Strong Operating Cash Flow
- Operating cash flow improved to $49.7 million for Q1 2026, up from $34.8 million in Q1 2025.
- Cash Position Maintained
- Cash and cash equivalents stood at $288.8 million as of March 31, 2026.
- Higher ARPU Growth
- Average Revenue Per User (ARPU) for super-scaled customers rose 21% year-over-year to $1.7 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Continued Operating Loss
- Net loss for Q1 2026 was $13.2 million, an improvement from $21.6 million loss in Q1 2025, but still indicative of ongoing operating challenges.
- Increased Restructuring Expenses
- Restructuring expenses rose 114.2% to $6.8 million in Q1 2026, raising concerns about cost management.
- Rising Operating Expenses
- Total operating expenses increased 48.0% to $415.1 million, driven by higher costs in revenue generation and support.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.053
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 25, 2026
- Zeta presents an AI-native omnichannel marketing platform (ZMP) anchored by a large proprietary data set and GenAI capabilities. Revenue has accelerated through 2025, with Q4 2025 revenue of $395.0M and improving…
- 10-Q · August 3, 2023
- Zeta reported Q2 2023 revenue of $171,817,000, up $34,516,000 (+25.1% YoY) and up $14,215,000 (+9.0%) vs Q1 2023. Loss from operations narrowed to $(46,215,000) (operating margin approx. -26.9%) vs $(77,089,000) in Q2…
- 10-Q · May 5, 2023
- Revenue increased 24.8% year-over-year to $157,602,000 in Q1 2023 while operating loss narrowed to $52,445,000 (operating margin -33.3%) from $68,065,000 a year ago. Net loss improved to $56,955,000 (diluted loss per…
- 10-Q · November 2, 2022
- Zeta reported Q3 revenue of $152,252,000, up from $115,133,000 in Q3 2021 (+$37,119,000, +32.3% YoY), but continued to report a sizable operating loss of $66,169,000 and diluted EPS of $(0.49). Gross margin remained…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing ZETA makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever