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…
Earnings analysis · 10-Q
ZETA earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.053
What stood out
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Revenue Growth Despite Loss
Revenue for Q1 2026 was $396.3 million, a 49.9% increase from $264.4 million in Q1 2025.
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Acquisition Impact
The acquisition of Marigold’s Enterprise Business contributed $55.6 million to revenues in Q1 2026.
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Super-scaled Customer Growth
Zeta reported a 19% increase in super-scaled customers to 189, compared to 159 a year ago.
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Strong Operating Cash Flow
Operating cash flow improved to $49.7 million for Q1 2026, up from $34.8 million in Q1 2025.
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Cash Position Maintained
Cash and cash equivalents stood at $288.8 million as of March 31, 2026.
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Higher ARPU Growth
Average Revenue Per User (ARPU) for super-scaled customers rose 21% year-over-year to $1.7 million.
What to watch
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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.
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Increased Restructuring Expenses
Restructuring expenses rose 114.2% to $6.8 million in Q1 2026, raising concerns about cost management.
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Rising Operating Expenses
Total operating expenses increased 48.0% to $415.1 million, driven by higher costs in revenue generation and support.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.