Zeta Global: The Growth Is Finally Showing Up On The Bottom Line

Zeta Global's second-quarter 2026 results marked its 20th consecutive beat-and-raise, with revenue up 44% year over year and its first-ever positive GAAP net income. Adjusted EBITDA margin expanded to 20.7%, and free cash flow grew 73% year over year, evidence that operating leverage is now showing up in the numbers rather than just in guidance. Full-year guidance was raised again, with organic growth (excluding Marigold and political revenue) accelerating to 24% to 25% from 22% to 23%.