TechTarget, Inc. reported its financial results for the third quarter ended September 30, 2024, showing a return to year-on-year revenue growth. The company achieved revenues of $58.5 million, representing a 2.4% increase compared to the third quarter of 2023, and reported a net loss of $1.7 million.
The company maintained a strong liquidity position, with approximately $355.8 million in cash, cash equivalents, and short-term investments as of September 30, 2024. Days Sales Outstanding (DSO) improved to 64 days from 70 days in the prior year, indicating efficient cash collection.
TechTarget continued to invest in its core platforms and product offerings, including enhancements to Priority Engine and the Account Insights Feed. Management expressed confidence in the long-term strength of the technology sector and the value of data-driven marketing, with the proposed combination with Informa Tech's Digital Businesses expected to further strengthen its market position.
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