ironSource Ltd. (IS) stock surged 8.41% in the current-market trading session at the price of $8.64 despite no fundamental reason. The last reported news was its financial results for the third quarter ended 30th September 2021. ironSource is the best business program that empowers mobile content creators to prosper in the App Economy.

ironSource Third Quarter 2021 Financial Results

On 10th November 2021, ironSource Ltd. (IS) published its financial results for the three months ended on 30th September 2021. The company has also provided its business outlook for the fourth quarter ending 31st December 2021 and renewed its guidance for the full year 2021.

Financial Summary

For the third quarter ended 30th September 2021, ironSource Ltd. (IS) reported revenue of $140 million. It represents a 60% gain from the third quarter of 2020. Net income totaled $19 million for the third quarter of 2021. For the third quarter of 2021, the company reported $51 million in adjusted EBITDA. It represents a year-over-year gain of 70%. For the three months that ended on 30th September 2021, the adjusted EBITDA margin was 36%. Net cash was $788 million for the third quarter ended on 30th September 2021.

ironSource Business Outlook

ironSource Ltd. (IS) expects revenue to range from $140 million to $145 million for the fourth quarter of fiscal 2021. It represents year-over-year growth of 32%. Adjusted EBITDA has expected to range from $50 million to $52 million, representing year-over-year growth of 57%.

For the full fiscal 2021, IS expects revenue to be between $535 million to $540 million. It represents year-over-year growth of 62%. The company expects adjusted EBITDA to be from $186 million to $188 million, representing year-over-year growth of 81%.

Management Comments

Chief executive officer and co-founder of IS, Tomer Bar Zeev, remarked that they had generated record revenue of $140 million during the third quarter. Their strong performance is a tribute to their scale and technology advantage. This growth is evidence of the strength of their platform-based approach for App Economy. This approach has also driven their M&A program. The company has announced two strategic acquisitions to expand this program and improve relations with clients, he added.