Zeta Global Holdings Corp. Technology Leadership Forum 2026
Review the key takeaways and the transcript of this earnings call.
- Zeta Global serves the largest enterprises across 15 industry verticals, with its top ten customers accounting for roughly 90% of revenue and eight out of ten growing over 20% last quarter.
- Zeta's platform consolidates 8 to 12 vendors into one, supporting customer acquisition, retention, and growth across all digital channels with a proprietary data set exclusive to Zeta.
- Athena, a conversational AI product, has been generally available for about 140-150 days, with 40% of super scaled customers as monthly active users and 83% of their interactions conversational, driving increased platform usage and revenue.
- Zeta has formed significant partnerships with Amazon, Snowflake, OpenAI, and recently Palantir, which includes joint revenue and account win goals and targets incremental opportunities with Palantir's US commercial customers.
- Zeta raised its organic growth guidance to approximately 23.5% for the third quarter, citing strong pipeline growth of 60%, improved sales productivity, and increased deal sizes.
- The company has a revenue model with 60% recurring licensing revenue and 40% annual contracts based on price times quantity usage, both growing rapidly.
- Zeta recently refinanced a billion-dollar debt facility to support potential M&A and share buybacks, with no imminent acquisitions planned but maintaining opportunistic discipline.
- AI adoption among Zeta's customers correlates with faster growth, higher net revenue retention, and longer customer relationships, countering concerns about AI-driven disintermediation risk.
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Transcript
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Here we go. Good morning, everyone. Welcome to KeyBank's Technology Leadership Forum. This is our second year here in Park City, Utah. We are joined today with the Zeta Global team, Chris Greiner, Chief Financial Officer, and Will Margiloff, Chief Growth Officer and Vice Chairman. Thank you guys for being here.
Thank you. Maybe we can start off just with a high level of Zeta Global and where you guys see the company going, just at a high level for the room to understand.
Yeah. We will start with who we serve from a customer's perspective and then Will and I will get into how that aperture is getting wider and wider, which is good for a lot of different reasons. First off, our primary customer, the largest enterprises in the economy. We support all 15 industry verticals. Our top 10 roughly account for 90% of revenue. There is no concentration in any one or two. All of our, call it 8 out of our 10 last quarter growing north of 20%. It is a really healthy, diversified customer set. The CMO wakes up every single day trying to figure out, as a brand who is spending hundreds of millions to billions on marketing, that is our target customer set, large enterprises. Who am I going to reach today? How am I going to reach them?
Once I do, how do I get them to engage with my brand? Pretty straightforward. They do that through three different use cases. I want to retain my existing customers, I want to grow my wallet share with existing customers, and I want to acquire new ones. If you're a CMO today, your technology stack to do all of those use cases across all digital formats, whether we are all on display video on the open web, or we're listening to a podcast, or we're receiving email, or we're somewhere in the social networks, their technology stack is dizzying. They have to use so many different point solutions to do all of those use cases, paired with all the different channels where all of us exist digitally in the open web or in the real world. Except for Zeta, we are a massive consolidation point.
We will typically collapse 8 to 12 vendors in the first implementation. Only Zeta, as you'll hear from Will and I throughout the time together this morning, can do all three use cases. Only Zeta can do every single digital channel, and only Zeta, which powers all of this, has a proprietary dataset that you only get access to if you're paying Zeta. I think it's part of why, as sure we'll get into our net revenue retention rates, have been as high and getting stronger over the last several years.
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