DSPs (buy side)Acquired · Cadent
AdTheorent
Machine-learning ad buying company, taken private by Cadent in 2024.
New York, USA · founded 2012 · adtheorent.com
What AdTheorent does
AdTheorent used machine learning to buy ads aimed at actions such as store visits and conversions, rather than just impressions. It went public via a SPAC in 2021.
Cadent acquired it for about $324 million in 2024.
How it makes money
Revenue from managed and self-serve campaigns (now within Cadent).
Where it meets invalid traffic
Applied IVT and fraud filtering to programmatic buys.
Products
- AdTheorent platform
Quarterly revenue
From SEC XBRL filings · latest quarter +6.7% year on yearQuarterly net income
| Fiscal year | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Revenue | $121M | $165.4M | $166.1M | $170.8M |
| Net income | $7.3M | $26.2M | $29.3M | $7K |
| Diluted EPS | $0.12 | $0.39 | $0.32 | $0.00 |