LogoSignal
IR
Live Market Data · NASDAQ: SGNL · Q4 2025 Results Posted

The Infrastructure
Behind 4.2 Trillion
Daily Ad Decisions.

Signal operates the programmatic advertising stack that powers real-time bidding across 18,400+ publisher properties globally — DSP, SSP, and data infrastructure unified under one platform.

SGNL · NASDAQ
LIVE
$24.18+0.42 (2.3%)
Intraday · 15-min delayed
Q4 2025 Revenue
Reported
$847.3M
+31.4% YoYvs $645.1M Q4 2024
Q4 '25
Q4 '24
Q1 2026 EarningsUpcoming
May 7, 2026
After Market Close · 4:30 PM ET
00D
00H
00M
00S
Webcast Registration Open
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Q4 & Full-Year 2025

Quarterly comparisons against prior-year periods. All figures in USD millions unless noted.

Q4 2025
Q4 2024
Total Revenue
USD Millions
$847.3M
+31.4% YoY
Q4 '25
$847.3M
Q4 '24
$645.1M
Gross Profit
USD Millions
$412.6M
+38.3% YoY
Q4 '25
$412.6M
Q4 '24
$298.4M
Adj. EBITDA
USD Millions
$189.4M
+48.9% YoY
Q4 '25
$189.4M
Q4 '24
$127.2M
Free Cash Flow
USD Millions
$143.7M
+60.4% YoY
Q4 '25
$143.7M
Q4 '24
$89.6M
Net Revenue Retention
Percent
128%
+9pp YoY
Q4 '25
128%
Q4 '24
119%
Key Metrics
FY 2025 Revenue
$3.12B
+28.7% YoY
Gross Margin
48.7%
+320bps YoY
Adj. EBITDA Margin
22.4%
Q4 2025
Trailing EV/Revenue
8.2x
vs. 9.1x peer median

Platform Capability Matrix

Signal operates across three interconnected segments — DSP, SSP, and Data — each reinforcing the others through shared identity infrastructure.

Daily Ad Decisions
4.2T
Per Day
DSP Active Seats
2,847
+412 YoY
SSP Publisher Partners
18,400+
Globally
Data Segment Reach
890M
Unique Profiles
Platform Uptime
99.97%
SLA 2025
Avg. QPS
1.8M
Queries/Second
Capability
DSP
SSP
Data
Real-Time Bidding Engine
Core Infrastructure
Unified ID 2.0 Integration
Identity
First-Party Data Onboarding
Data
Contextual Targeting AI
AI/ML
Floor Price Optimization
Yield Mgmt
Cross-Device Graph
Identity
CTV/OTT Inventory
Channels
Clean Room Connectivity
Privacy
DOOH Programmatic
Channels
Audience Extension
Data
✓ = Available capability · — = Not applicable to segment · Teal rows = cross-segment integration points

The Infrastructure Behind
4.2 Trillion Daily Decisions

4.2T
Daily Ad Decisions
12ms
Avg. Bid Response
47
Global PoPs
99.97%
Platform Uptime
Server infrastructure with circuit board patterns and blue LED lights representing Signal's programmatic advertising technology stack
Signal Platform Architecture v4.2
Cloud-Native · Multi-Region · Zero Single Point of Failure
AWSGCPAzureFastly CDNKafkaSparkClickHouse
Unified Auction Engine

Sub-12ms clearing across 1.8M queries per second. Proprietary header bidding wrapper deployed across 18,400+ publisher properties globally.

Identity Spine

Cross-device graph covering 890M unique profiles. UID 2.0 native, LiveRamp RampID certified, first-party data clean room via Snowflake and AWS.

AI Optimization Layer

Contextual targeting models retrained every 4 hours. Bid shading algorithms reduce advertiser CPMs by an average of 18% without sacrificing win rate.

Compliance Infrastructure

GDPR, CCPA, and COPPA controls baked into the data pipeline. Automated consent signal propagation with sub-100ms latency from consent string to auction.

Integrated With
The Trade DeskDV360Amazon DSPXandrMagnitePubMaticOpenXIndex ExchangeLiverampSnowflakeSalesforce CDPAdobe Audience ManagerNielsenIASMOATDoubleVerify
The Trade DeskDV360Amazon DSPXandrMagnitePubMaticOpenXIndex ExchangeLiverampSnowflakeSalesforce CDPAdobe Audience ManagerNielsenIASMOATDoubleVerify

Leadership & Board

Insider ownership of 18.7% aligns management with long-term shareholder value. Three independent board members with direct adtech operating experience.

Professional headshot of Katherine Brennan, CEO of Signal, woman in business attire with confident expression
Katherine Brennan
Chief Executive Officer
Former VP, Google Ads Platform
2.4M shares
Professional headshot of Marcus Osei, CFO of Signal, man in suit looking directly at camera
Marcus Osei
Chief Financial Officer
Former CFO, PubMatic
1.1M shares
Professional headshot of Priya Chakraborty, CTO of Signal, woman in professional setting
Priya Chakraborty
Chief Technology Officer
Former Principal Eng., Meta Ads Infra
1.8M shares
Professional headshot of James Whitfield, CRO of Signal, man in business casual attire
James Whitfield
Chief Revenue Officer
Former SVP Sales, The Trade Desk
890K shares
Board of Directors
Dr. Sandra Liu
Independent Director, Audit Chair
Former Partner, KPMG
Robert Callahan
Independent Director, Comp. Chair
Partner, Sequoia Capital
Amara Diallo
Independent Director
CEO, MediaLink
David Park
Lead Independent Director
Former CEO, OpenX Technologies
Share Structure & Ownership
Insider Ownership
18.7%
Exec + Board
Institutional
61.4%
Top 20 holders
Float
19.9%
Public float
Diluted Shares
142.3M
As of Q4 2025

IR Calendar

DateEventType
May 7, 2026
Upcoming
Q1 2026 Earnings Call
4:30 PM ET · Webcast + Replay
Earnings
May 20, 2026
Upcoming
JPMorgan Global TMT Conference
New York, NY · Investor 1:1s
Conference
Jun 10, 2026
Upcoming
Needham Programmatic Advertising Summit
San Francisco, CA · Keynote
Conference
Feb 27, 2026
Q4 2025 Earnings Call
Completed · Replay Available
Earnings
Feb 27, 2026
10-K Annual Report Filed
SEC EDGAR · PDF Available
SEC Filing
Nov 6, 2025
Q3 2025 Earnings Call
Completed · Replay Available
Earnings
Oct 31, 2025
10-Q Q3 Filed
SEC EDGAR · PDF Available
SEC Filing
Analyst Coverage
Goldman Sachs
Tyler Hawkins
Buy
$31.00
Morgan Stanley
Preethi Nair
OW
$29.50
JPMorgan
Derek Sullivan
OW
$28.00
Needham
Caitlin Russo
Buy
$32.00
BofA Securities
James Okafor
Buy
$30.00
IR Contact
Investor Relations Team
Signal, Inc.
ir@signal.com
+1 (415) 882-0144

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