The stock was at $20.50, up from its initial public offering price of $20.
The company offered 8 million shares in the IPO, bringing the company $160 million.
Outbrain posted revenue of $228 million for the first quarter of this year and $767 million for all of 2020.
Net income totaled $10.7 million for the first quarter, swinging from a net loss of $9.6 million last year. Profit registered $4.4 million for 2020, reversing a loss of $20.5 million in 2019.
“To meet our growth objectives, we will need to continue to innovate, seek to have advertisers and media partners adopt our expanding solutions, and extend our reach into evolving digital media platforms,” the company said in its prospectus.
“Our business model may not translate well into emerging forms of advertising due to market resistance or other factors, and we may not be able to innovate successfully enough to compete effectively,” the company added.