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IAC (IAC) investor relations material
IAC Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2025 digital revenue rose 14% year-over-year, offsetting a 23% print decline, with strong performance despite AI-driven disruption in digital publishing.
Adjusted EBITDA for the year was $331 million, with Q4 Adjusted EBITDA up 29% year-over-year to $141.6 million; net loss improved to $76.8 million in Q4 2025.
Strategic focus on transforming content brands into standalone businesses, expanding MGM stake to 25% (valued at $2.2 billion), and repurchasing $337 million in shares, reducing share count by 10%.
Angi was spun off as the 10th independent company, and strategic investments continued in core assets.
Signed AI content partnerships with Meta and Microsoft, and completed Feedfeed acquisition.
Financial highlights
Q4 2025 digital revenue reached $355 million, up 14% year-over-year; print revenue fell 23% to $168 million.
FY 2025 digital revenue was $1.1 billion, up 10% year-over-year, with $331 million in Adjusted EBITDA.
Care.com reported $47 million in Adjusted EBITDA for FY 2025 on $347 million revenue, but Q4 saw a $191 million operating loss due to $207 million goodwill impairment.
Emerging & Other segment saw 18% revenue growth, with The Daily Beast revenue up 50% and Vivian returning to growth.
Free cash flow for 2025 was $44.8 million, with cash and cash equivalents at $960.2 million and long-term debt at $1.4 billion.
Outlook and guidance
2026 guidance projects consolidated Adjusted EBITDA of $260–$340 million, with People Inc. expected at $310–$340 million.
Digital revenue and Adjusted EBITDA expected to grow mid- to high-single digits in 2026.
Care.com anticipates a return to revenue growth in 2026.
Search segment faces uncertainty due to search ecosystem disruptions and potential Google contract changes.
Ceasing quarterly guidance to focus on long-term execution; annual guidance will continue.
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