Toro CombineCo., Inc., the entity formed by the combination of TechTarget and Informa Tech's digital businesses, has updated its previously disclosed financial information for 2024. The company now anticipates its proforma revenue for 2024 to be in the range of $490 million to $500 million, a revision from its earlier guidance of $500 million.
Additionally, Toro CombineCo announced the retraction of its Adjusted EBITDA and Adjusted EBITDA margin guidance for 2024. This decision was made in conjunction with finalizing its registration statement on Form S-4, which removed the presentation of historical proforma Adjusted EBITDA.
The company expects to report its full-year 2024 results in March 2025. At that time, it will determine whether to include Adjusted EBITDA and Adjusted EBITDA margin guidance. This update provides a clearer, albeit slightly reduced, revenue expectation for the combined entity's first year of operation.
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