Earning Preview: Zeta Global Holdings Corp. this quarter’s revenue is expected to increase by 28.21%, and institutional views are predominantly bullish

Abstract

Zeta Global Holdings Corp. is scheduled to report quarterly results on February 24, 2026 Post Market, with consensus pointing to continued top-line expansion and improving operating performance; investors will focus on revenue growth, margin trajectory, and adjusted EPS delivery.

Market Forecast

Based on current-quarter forecasts, Zeta Global Holdings Corp. is expected to deliver revenue of $379.23 million, representing 28.21% year-over-year growth, alongside estimated EBIT of $71.91 million, up 36.25% year-over-year, and adjusted EPS of $0.231, implying 2.70% year-over-year growth. Explicit forecasts for gross profit margin and net profit margin were not disclosed, so market attention will center on revenue and profitability cadence implied by the EBIT and EPS outlook. The company’s revenue mix last quarter was anchored by Platform Direct Revenue (approximately 75% of total) and Platform Integrated Revenue (approximately 25%), a composition that supports the current-quarter outlook for healthy year-over-year growth driven by broad-based customer activity and solution adoption. The most promising segment heading into this print remains Platform Direct Revenue, which contributed $252.88 million last quarter; while segment-level year-over-year growth was not disclosed, total company revenue grew 25.67% year-over-year in that period, underscoring momentum into the current quarter.

Last Quarter Review

In the prior quarter, Zeta Global Holdings Corp. reported revenue of $337.17 million, a gross profit margin of 60.49%, a GAAP net loss attributable to the parent company of $3.63 million with a net profit margin of -1.08%, and adjusted EPS of $0.20, up 5.26% year-over-year. A key highlight was operating performance: EBIT reached $60.87 million, increasing 48.44% year-over-year and exceeding the quarter’s estimate by $8.08 million, while net profit improved quarter-on-quarter by 71.64% despite remaining slightly negative on a GAAP basis. On the commercial front, the revenue base was led by Platform Direct Revenue at $252.88 million and Platform Integrated Revenue at $84.29 million, with total revenue up 25.67% year-over-year; segment-specific year-over-year figures were not provided, but the mix indicates robust activity among core offerings.

Current Quarter Outlook

Platform Direct Revenue

Platform Direct Revenue is the largest revenue contributor, accounting for $252.88 million last quarter, or roughly three-quarters of total revenue. The current-quarter revenue estimate of $379.23 million, implying 28.21% year-over-year growth, presumes direct channels will remain central to the company’s performance patterns. Taken with last quarter’s 60.49% gross margin and the 48.44% year-over-year increase in EBIT, there is a setup for operating leverage if direct revenue growth converts at similar or better incremental contribution. Execution details that matter this quarter include the pace of cross-sell and upsell within existing relationships, as well as activation of new use cases that deepen utilization on the platform. Investors will look for proof points in customer activity metrics tangentially reflected in revenue and EBIT outturns, because the absence of explicit gross margin guidance puts more emphasis on realized profitability. A sustained or improved revenue mix toward higher-contribution direct activity would support the EBIT estimate of $71.91 million and the adjusted EPS estimate of $0.231, especially if operating expenses scale below the pace of revenue growth. From a quarter-to-quarter framing, last quarter’s net profit improved by 71.64% relative to the prior period even as GAAP net profit remained slightly negative. If direct revenue again leads the growth cadence and cost discipline is preserved, there is a credible path to sequential strengthening in bottom-line metrics, though the final GAAP net figure will depend on below-the-line items such as interest expense and non-cash charges.

Platform Integrated Revenue

Platform Integrated Revenue contributed $84.29 million last quarter, about a quarter of total revenue, and acts as a complementary driver to the larger direct stream. The integrated offering’s role in expanding account penetration and supporting broader solution adoption is important for sustaining the 28.21% year-over-year revenue growth that the market currently anticipates for the quarter being reported. While segment-level year-over-year growth rates were not disclosed, total revenue growth of 25.67% last quarter suggests both segments participated in the uplift. This quarter, two dynamics will be closely watched for this segment: the extent to which integrated deployments extend customer lifetime value and the degree to which they support margin resilience. Last quarter’s 60.49% gross margin provides a benchmark; if the mix of integrated work shifts toward higher-value configurations with stronger contribution margins, it can reinforce or improve consolidated margin outcomes. Conversely, if integrated projects skew toward heavier implementation loads without corresponding revenue recognition, margin pressure could emerge despite top-line growth. Analysts have recently highlighted momentum tied to AI collaboration initiatives in early 2026, which, if effectively embedded into integrated solutions, could enhance differentiation and expand deal scopes. Any commentary or signals of faster cycle times from integration to revenue recognition, or improved attach rates between integrated and direct offerings, would bolster confidence in sustaining elevated growth while protecting profitability.

Share-price sensitivity factors this quarter

The share price reaction will likely hinge on whether Zeta Global Holdings Corp. meets or exceeds the revenue estimate of $379.23 million and the adjusted EPS estimate of $0.231, as well as on how close reported EBIT comes to the $71.91 million forecast. Because the company did not explicitly outline gross or net margin guidance in the forecast set, realized gross margin relative to last quarter’s 60.49% and the trajectory of operating expenses will serve as the primary indicators of incremental profitability. If revenue accelerates toward the high end of expectations and operating expense growth is contained, EBIT should track or exceed forecast, supporting the adjusted EPS outlook. A second sensitivity is the GAAP net line. With a last-quarter GAAP net loss of $3.63 million and a net margin of -1.08%, investors will pay attention to non-operating items that bridge from EBIT to net income, including interest expense, any restructuring or acquisition-related costs, and non-cash charges. A shift to positive GAAP net income, or a materially narrower GAAP loss, would likely be interpreted as validation of underlying operating leverage and could be rewarded by the market. Finally, qualitative signals will matter. Commentary on new enterprise deployments, attach rates, and contract durations will help frame durability of growth into subsequent quarters. Since the revenue mix last quarter was 75% Platform Direct Revenue and 25% Platform Integrated Revenue, indications that either segment is gaining contribution at stable or better margins will shape expectations for the remainder of the fiscal year. In tandem, any updates on AI-enhanced capabilities and commercialization, as flagged by external analysts for early 2026, will be assessed as potential catalysts for sustained revenue expansion and margin support.

Analyst Opinions

Across the January 1, 2026 to February 17, 2026 window, available institutional commentary skews decisively positive. RBC Capital maintained an Outperform rating on February 9, 2026 with a $27.00 price target, and on February 10, 2026 the firm reiterated its positive stance while adjusting its target from $30.00 to $27.00. Canaccord Genuity reaffirmed a Buy rating in mid-January 2026 and highlighted strong early-2026 momentum and AI collaboration efforts, supporting a constructive multi-quarter narrative. An aggregated assessment in the same period points to a Buy-leaning consensus with a mean target around $30.00, reinforcing the favorable sentiment. The ratio of bullish to bearish views in this period is effectively 100% to 0%, indicating a clear majority of favorable opinions. The majority view emphasizes that the company is positioned to extend its top-line trajectory while improving profitability. In RBC’s case, maintaining an Outperform rating into February 2026 suggests confidence that the near-term revenue and earnings profile remains on track despite a modest reduction in target price to reflect market and valuation recalibration. From an operational standpoint, this aligns with the current-quarter estimates calling for 28.21% year-over-year revenue growth and 36.25% year-over-year EBIT growth; such a combination implies ongoing operating leverage if the mix and gross margin hold near recent levels. With last quarter’s EBIT up 48.44% year-over-year and gross margin at 60.49%, analysts’ positive stance indicates that they view the quarter as an opportunity for the company to demonstrate continuity in scaling profitability. Canaccord’s commentary on early-2026 momentum and AI collaboration dovetails with the notion that both Platform Direct Revenue and Platform Integrated Revenue can continue to reinforce growth and margin. For investors, the thread connecting these views is the expectation that enhanced product capabilities and differentiated solution breadth can translate into larger or more numerous deployments, benefiting both segments in the mix. If management provides evidence of higher engagement, improved conversion from pilots to production, or shortened time-to-value in AI-enhanced modules, this would validate the bullish framework and potentially support the revenue estimate of $379.23 million and adjusted EPS of $0.231. The constructive institutional stance also reflects attention to the GAAP-to-adjusted earnings bridge. Last quarter’s net margin of -1.08% and net loss of $3.63 million contrasted with healthy EBIT and adjusted EPS trends, suggesting that incremental progress in non-operating items or better cost absorption could tilt the GAAP line closer to break-even or positive this quarter. Analysts appear focused on whether the company can translate its EBIT trajectory into improved net results by tempering interest and other below-the-line impacts. Achieving this, even modestly, would strengthen the case that the business can sustain profitable scaling without needing to sacrifice growth. Overall, the bullish majority is grounded in three takeaways: revenue growth materially outpacing expense growth; stable to improving gross margin supported by the current mix between Platform Direct Revenue and Platform Integrated Revenue; and the potential of AI-oriented enhancements to lift customer adoption and expansion. Should reported results on February 24, 2026 Post Market align with or outperform the revenue estimate of $379.23 million and the adjusted EPS estimate of $0.231, institutional confidence is likely to be reinforced, keeping attention on the path to sustained EBIT expansion and clearer GAAP profitability in subsequent quarters.