The Rundown: Ad tech’s performance in 2025 was overshadowed by AI concerns and Big Tech

The latest round of earnings calls from the cohort of publicly listed ad tech companies concluded this week, with the results helping observers to grasp the challenges and opportunities in the sector. The numbers filed with each company s respective stock exchange in recent weeks, as shown in the table below, indicate an annual average revenue increase of 17.4% across the sector in 2025.* Although