TechTarget, Inc.

For the period ended Sep 30, 2025. Filed Nov 10, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 10, 2025

TTGT$2.76-8.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

PART I. FINANCIAL INFORMATION

Unaudited Condensed Consolidated Balance Sheets

	September 30, 2025	December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$46,301	$275,983
Short-term investments	—	77,705
Accounts receivable, net of allowance for credit losses of $1,893 and $907 respectively	82,333	79,039
Related party receivables	11,372	2,900
Prepaid taxes	7,157	6,443
Prepaid expenses and other current assets	14,686	13,547
Total current assets	161,849	455,617
Non-current assets:
Property and equipment, net	3,293	4,621
Goodwill	55,444	973,398
Intangible assets, net	746,521	808,732
Operating lease right-of-use assets	12,751	15,907
Deferred tax assets	5,425	5,097
Other non-current assets	2,141	3,115
Total non-current assets	825,575	1,810,870
Total assets	$987,424	$2,266,487
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$7,664	$10,639
Related party payables	12,171	4,795
Contract liabilities	66,830	44,825
Operating lease liabilities	4,919	5,186
Accrued expenses and other current liabilities	21,591	29,328
Accrued compensation expenses	25,322	18,093
Income taxes payable	4,762	6,701
Convertible debt	—	415,690
Total current liabilities	143,259	535,257
Non-current liabilities:
Operating lease liabilities	11,460	15,107
Other liabilities	6,310	4,913
Related party revolving line of credit	120,000	—
Deferred tax liabilities	108,463	139,356
Total non-current liabilities	246,233	159,376
Total liabilities	$389,492	$694,633
Stockholders’ equity:
Common stock, $0.001 par value; 250,000,000 shares authorized; 72,161,395 shares issued and 72,147,343 shares outstanding at September 30, 2025; 71,460,169 shares issued and outstanding at December 31, 2024	72	71
Treasury stock, at cost; 14,052 and 0 shares at September 30, 2025 and December 31, 2024, respectively	(629)	—
Additional paid-in capital	1,642,502	1,626,785
Retained deficit	(1,074,765)	(75,937)
Accumulated other comprehensive income	30,752	20,935
Total stockholders’ equity	597,932	1,571,854
Total liabilities and stockholders’ equity	$987,424	$2,266,487

Unaudited Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)

(in thousands, except per share data)

	For the Three Months Ended		For the Nine Months Ended
	September 30, 2025	September 30, 2024	September 30, 2025	September 30, 2024
As Restated · As Restated
Revenues1	$122,286	$62,872	$346,116	$184,499
Cost of revenues1,2	(47,350)	(23,814)	(142,674)	(74,484)
Gross profit	74,936	39,058	203,442	110,015
Operating expenses:
Selling and marketing2	35,829	14,217	106,202	42,096
General and administrative1,2	21,039	18,365	64,244	53,937
Product development2	2,894	2,571	8,279	8,499
Depreciation	529	386	1,592	1,173
Amortization, excluding amortization of $4,131, $158, $9,554 and $403 included in cost of revenues	21,631	11,008	67,817	33,038
Impairment of goodwill	80,252	—	921,600	—
Impairment of long-lived assets	—	—	—	2,019
Restructuring costs2	12,412	—	12,412	—
Acquisition and integration costs1	8,204	8,788	32,343	38,242
Remeasurement of contingent consideration	—	(1,900)	—	2,264
Total operating expenses	182,790	53,435	1,214,489	181,268
Operating loss	(107,854)	(14,377)	(1,011,047)	(71,253)
Related party interest expense	(2,439)	(5,761)	(7,067)	(18,164)
Interest income1	26	874	914	3,338
Other income (expense), net	525	(1,732)	(7,791)	(1,361)
Loss before provision for income taxes	(109,742)	(20,996)	(1,024,991)	(87,440)
Income tax benefit	32,964	3,566	26,163	10,298
Net loss	$(76,778)	$(17,430)	$(998,828)	$(77,142)
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	(941)	(13,535)	9,817	(11,653)
Total comprehensive loss	$(77,719)	$(30,965)	$(989,011)	$(88,795)
Net loss per common share:
Basic	(1.07)	(0.42)	(13.96)	(1.85)
Diluted	(1.07)	(0.42)	(13.96)	(1.85)
Weighted average common shares outstanding:
Basic	71,756,180	41,651,366	71,570,864	41,651,366
Diluted	71,756,180	41,651,366	71,570,864	41,651,366
(1) Amounts include related party transactions as follows:
Revenues	274	71	845	225
Cost of revenues	249	—	849	53
General and administrative	4,786	8,882	14,731	25,803
Interest income	—	1,327	—	3,190
Acquisition and integration costs	913	5,456	20,274	32,451
(2) Amounts include stock-based compensation expense as follows:
Cost of revenues	267	—	1,001	—
Selling and marketing	2,474	—	8,007	—
General and administrative	391	313	1,875	879
Product development	170	—	538	—
Restructuring costs	4,297	—	4,297	—

Unaudited Condensed Consolidated Statements of Stockholders’ Equity (Deficit)

	Net Parent Deficit	AccumulatedOther ComprehensiveIncome (Loss)	Total Stockholders’Equity (Deficit)
	As Restated	As Restated	As Restated
Balance, December 31, 2023	(76,580)	22,245	$(54,335)
Net loss	(19,509)	—	(19,509)
Net transfers to Parent	(3,098)	—	(3,098)
Other comprehensive income	—	2,551	2,551
Balance, March 31, 2024	$(99,187)	$24,796	$(74,391)
Net loss	(40,203)	—	(40,203)
Net transfers from Parent	22,789	—	22,789
Other comprehensive loss	—	(669)	(669)
Balance, June 30, 2024	$(116,601)	$24,127	$(92,474)
Net loss	(17,430)	—	(17,430)
Net transfers from Parent	257,612	—	257,612
Other comprehensive loss	—	(13,535)	(13,535)
Balance, September 30, 2024	$123,581	$10,592	$134,173

Unaudited Condensed Consolidated Statements of Stockholders’ Equity (Deficit)

Common Stock · Treasury Stock
	Number ofShares	$0.001Par Value	Number of Shares	Cost	Additional Paid-In Capital	Retained Earnings (Deficit)	AccumulatedOther ComprehensiveIncome (Loss)	Total Stockholders’Equity
Balance, December 31, 2024	71,460,169	71	—	—	1,626,785	(75,937)	20,935	$1,571,854
Net loss	—	—	—	—	—	(523,388)	—	(523,388)
Other comprehensive income	—	—	—	—	—	—	3,990	3,990
Issuance of shares of common stock from RSU awards	25,012	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	3,959	—	—	3,959
Balance, March 31, 2025	71,485,181	$71	—	—	$1,630,744	$(599,325)	$24,925	$1,056,415
Net loss	—	—	—	—	—	(398,662)	—	(398,662)
Other comprehensive income	—	—	—	—	—	—	6,768	6,768
Other share issuances	100	—	—	—	—	—	—	—
Issuance of shares of common stock from RSU awards	3,719	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	4,160	—	—	4,160
Balance, June 30, 2025	71,489,000	$71	—	—	$1,634,904	$(997,987)	$31,693	$668,681
Net loss	—	—	—	—	—	(76,778)	—	(76,778)
Other comprehensive loss	—	—	—	—	—	—	(941)	(941)
Other share issuances	—	—	—	—	—	—	—	—
Issuance of shares of common stock from RSU awards	658,343	1	—	—	(1)	—	—	—
Impact of net settlements	14,052	—	14,052	(629)	—	—	—	(629)
Stock-based compensation	—	—	—	—	7,599	—	—	7,599
Balance, September 30, 2025	72,161,395	$72	14,052	$(629)	$1,642,502	$(1,074,765)	$30,752	$597,932

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.