• by Tony Silber , November 3, 2021

TechTarget, the marketing services and B2B media company serving the IT space, on Wednesday reported strong third-quarter growth, with revenue of about $70 million for the quarter, up 92% from the same period a year ago.

The company, founded in 1999 and based in Newton, Massachusetts, said it had EBITDA of $28 million for the quarter, for a margin of 39%. Its results were reported in a press release after the markets closed on Wednesday.

The company, which is publicly traded on Nasdaq under the ticker TTGT, deploys sophisticated lead-generation and intent-data analysis technology, helping clients identify likely prospects and detect when they’re ready to buy.

The company’s stock closed at $97.82 on Wednesday, up 2.76 points and close to its 12-month high of $101.12.

The period ending September 30 was the third consecutive quarter of 2021 where the company grew. It reported revenue of $52.9 million in Q1, $63.7 million in Q2. It is projecting between $73 million and $75 million for Q4, for full-year revenue of somewhere around $261 million.

"These healthy growth rates are being supported by multiple tailwinds,” the company said in a letter to shareholders. “A healthy IT spending environment, the modernization of the sales-and-marketing organization through automation and data, a focus on privacy and compliance, which drives demand for our first-party purchase intent data and the re-allocation of marketing budgets from face-to-face events to our data products and online marketing solutions.”

“We believe we are well positioned to take advantage of these large trends,” the letter continued. “All of the above trends support the continued growth of Priority Engine revenue, which was up 20% in the quarter.” Priority Engine is the company’s proprietary lead-gen technology.

“It’s worth noting that Priority Engine was originally designed and optimized for marketing use cases, and we’ve spent much of the last two years making steady progress on making the data more easily accessible to individual sellers,” the shareholder letter states.

“With this release, we’ll roll out a revamped user interface that allows sellers to personalize their experience and view individual important buying-process milestones. Marketers will also benefit from the availability of individual prospects identified through our BrightTALK platform for the first time.”

Also contributing to the company’s performance, the letter stated, is progress on integrating recent acquisitions, with the associated benefits from cross-selling and upsell opportunities. TechTarget expects this will help drive growth in 2022.