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

David Ajayi 2 Followers Follow Summary 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%. The stock has rallied sharply since the print, closing most of the gap to fair value; I remain a Buy on the growth and margin trajectory, though with a smaller margin of safety than before earnings. Editor's note: Seeking Alpha is proud to welcome David Ajayi as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. This article was written by David Ajayi 2 Followers Follow David Ajayi is a Web Developer and independent equity analyst focused on fundamental investing. His research primarily covers technology companies, with a focus on software, SaaS, AI, and digital infrastructure businesses. His investment approach centers on analyzing SEC filings, financial statements, cash flow, valuation, and competitive positioning to identify companies trading below their intrinsic value. He writes on Seeking Alpha to share independent research, test investment ideas, and contribute thoughtful analysis to the investing community. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.