Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission file number ...

BuzzFeed, Inc. (NASDAQ:BZFD) Q1 2025 Earnings Conference Call May 7, 2025 2:00 PM ET Company Participants Juliana Clifton - VP, Communications Jonah Peretti - CEO and Founder Matt Omer - CFO Conference Call Participants Operator Good day, and welcome to BuzzFeed's First Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Vice President of Com ...

BuzzFeed (BZFD) Q1 2025 Earnings Call May 07, 2025 02:00 PM ET Company Participants Juliana Clifton - Chief of Staff, VP of CommunicationsJonah Peretti - Founder & CEOMatt Omer - Chief Financial Officer Operator Good day, and welcome to BuzzFeed's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Vice President of Commun ...

BuzzFeed (BZFD) Q1 2025 Earnings Call May 07, 2025 02:00 PM ET Speaker0 Good day, and welcome to BuzzFeed's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Vice President of Communications, Julianna Clifton. Please go ahead. Speaker1 Hi, everyone. Welcome to BuzzFeed Inc. First quarter twenty twenty five earnings confe ...

BUZZFEED, INC. REPORTS Q1 2025 RESULTS AND CONTINUES TO ADVANCE HIGH-MARGIN REVENUE LINES AND STRATEGY FOR LONG-TERM GROWTH Company Taps AI to Amplify Human Creativity, Audience Engagement, and Efficiency Tools Across Publishing Business NEW YORK – (May 7, 2025) – BuzzFeed, Inc. ("BuzzFeed" or the "Company") (Nasdaq: BZFD) today announced its financial results for the quarter ended March 31, 2025. The Company continued to execute on its strategy to improve profitability, expand scalable, high-margin revenue ...

Company Overview - BuzzFeed, Inc. (NASDAQ: BZFD) recently reported its Q4 FY 2024 results on March 13, 2025, indicating ongoing developments within the company [2]. Investment Strategy - Second Wind Capital focuses on small cap value and special situation equities, achieving a compounded annual growth rate of 54% (pre-tax) from January 1, 2020, to December 30, 2024 [1]. Analyst Background - The analyst associated with Second Wind Capital has extensive experience, including in-depth analysis of under-the-radar small cap value ideas and regular management interviews, emphasizing a fundamental research approach [2].

Financial Performance - The company reported a total revenue of $30.0 million for the fiscal year, with a year-over-year decrease of 15%[12] - The company is facing macroeconomic challenges, including high inflation and interest rates, which could affect its financial performance[12] - The company is actively pursuing cost-saving measures to improve its financial condition[12] Future Growth Opportunities - The company anticipates a potential increase in advertising demand, which could positively impact future revenue growth[12] - The company is focused on launching new products and platforms, including advancements in artificial intelligence (AI) technology[12] - The company is exploring market expansion opportunities to enhance its competitive position[12] Compliance and Governance - The company is committed to maintaining compliance with regulatory requirements to avoid potential legal issues[12] - The company is utilizing its investor relations website and SEC filings to communicate material business information to stakeholders[12] Organizational Development - The company is focused on retaining key talent and improving its organizational structure to support growth initiatives[12] Financial Obligations - The company has $30.0 million in unsecured convertible notes due in 2026, which may require repayment under certain conditions[12]

BuzzFeed, Inc. (NASDAQ:BZFD) Q4 2024 Earnings Conference Call March 13, 2024 5:00 PM ET Company Participants Juliana Clifton - VP, Communications Jonah Peretti - CEO and Founder Matt Omer - CFO Conference Call Participants Operator Good day, and thank you for standing by. Welcome to the BuzzFeed, Inc. Fourth Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over t ...

Financial Data and Key Metrics Changes - BuzzFeed achieved positive adjusted EBITDA for both Q4 and full year 2024, with full year EBITDA growth of $17.1 million or 146.8% [22][23] - The company ended Q4 2024 with cash and cash equivalents of $38.6 million, an increase of $3 million compared to the previous year [34] - Despite an overall revenue decline of $40.6 million, the net loss from continuing operations improved by $21.8 million [31] Business Line Data and Key Metrics Changes - Advertising revenues declined 17% year over year to $94.4 million, while programmatic advertising remained relatively flat at $64.9 million [29] - Content revenue decreased 49% year over year to $33.9 million, driven by a decrease in direct sold deals [29] - Commerce revenues increased by $11.6 million or 23%, with affiliate commerce increasing 26% year over year to $59.6 million [30] Market Data and Key Metrics Changes - Time spent on BuzzFeed increased to 79 million hours, a 10% increase from Q4 2023 [35] - Daily logged-in users on BuzzFeed.com were 144% higher than Q4 2023, indicating strong engagement [36] - The percentage of loyal users across BuzzFeed web and apps reached 48%, the highest level in over two years [36] Company Strategy and Development Direction - The company is focusing on building AI-native applications and has initiated the development of a new social media app called BFIsland [12][16] - BuzzFeed aims to convert 5% of its 34 million monthly users to participate in the BFIsland pilot, leveraging increased personalization and interactivity [17] - The company is committed to strengthening its owned and operated platform and using AI responsibly to enhance content and operations [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of AI to transform the business and improve operational efficiencies [8][10] - The company plans to provide annual guidance moving forward, focusing on long-term strategic initiatives rather than short-term results [38] - For 2025, BuzzFeed expects overall revenues in the range of $195 to $210 million, and adjusted EBITDA in the range of $10 to $20 million [39] Other Important Information - The company repaid a total of $153.8 million in debt during 2024, including $120 million of convertible debt [23] - BuzzFeed's restructuring included a significant reduction in headcount and cash cost structure, aligning with a pivot toward programmatic advertising and affiliate commerce [28] Q&A Session Summary - No specific questions or answers were recorded in the provided content, indicating that the call may have concluded without a Q&A segment.

Revenue Performance - BuzzFeed reported full year 2024 revenues of $189.9 million, an 18% decline compared to 2023[5] - Advertising revenue decreased by 17% year-over-year to $94.4 million, reflecting a strategic shift away from lower-margin direct sold advertising[5] - Commerce and other revenues grew by 23% year-over-year to $61.7 million, driven by strong affiliate commerce performance, which increased by 26% to $59.6 million[5] - In Q4 2024, revenues were $56.2 million, a 20% decline compared to Q4 2023, with advertising revenue down 19% to $25.4 million[8] - Total revenue for Q4 2024 was $56.2 million, a decrease of 20% compared to $70.1 million in Q4 2023[27] - Advertising revenue decreased by 19% year-over-year, from $31.6 million in Q4 2023 to $25.4 million in Q4 2024[27] - Content revenue saw a significant decline of 59%, dropping from $23.2 million in Q4 2023 to $9.4 million in Q4 2024[27] - Commerce and other revenue increased by 39%, rising from $15.3 million in Q4 2023 to $21.3 million in Q4 2024[27] Profitability and Loss - Net loss from continuing operations improved to $34.0 million, compared to a net loss of $55.7 million in 2023, due to successful cost savings and operational efficiencies[5] - The net loss from continuing operations for the year 2024 was $34.0 million, an improvement of 39% compared to a loss of $55.7 million in 2023[31] - For the year ended December 31, 2024, the net loss from continuing operations was $33,956 thousand, compared to a net loss of $55,712 thousand in 2023, indicating an improvement of approximately 39.4%[37] - The company reported a net income of $31.0 million for Q4 2024, compared to a net loss of $11.3 million in Q4 2023[31] Adjusted EBITDA - Adjusted EBITDA for 2024 was positive at $5.5 million, an improvement of $17.1 million year-over-year[5] - Adjusted EBITDA for Q4 2024 was $10.9 million, down 16% from $13.0 million in Q4 2023[27] - Adjusted EBITDA for the year ended December 31, 2024, was $5,451 thousand, a significant increase from a loss of $11,645 thousand in 2023[37] - The adjusted EBITDA margin for the year ended December 31, 2024, was 2.9%, compared to a negative margin of 5.1% in 2023, reflecting a positive trend in operational efficiency[37] Cash and Assets - Total assets decreased from $411.5 million in 2023 to $221.4 million in 2024[29] - Current liabilities decreased significantly from $227.8 million in 2023 to $96.8 million in 2024[29] - Cash and cash equivalents increased from $35.6 million in 2023 to $38.6 million in 2024[29] - Cash and cash equivalents at the end of 2024 were $38,648 thousand, up from $35,637 thousand at the end of 2023, marking a net increase of $3,011 thousand[35] - The company reported a net increase in cash and cash equivalents of $3,011 thousand for the year ended December 31, 2024, contrasting with a decrease of $20,137 thousand in 2023[35] Debt and Expenses - The company incurred interest expense of $6,782 thousand for the year ended December 31, 2024, compared to $6,468 thousand in 2023, reflecting a slight increase[37] - Payments on the Revolving Credit Facility totaled $33,837 thousand in 2024, significantly higher than $1,796 thousand in 2023, indicating a strategic shift in debt management[35] - The company recognized stock-based compensation expenses of $5,531 thousand for the year ended December 31, 2024, compared to $5,282 thousand in 2023, indicating ongoing investment in employee incentives[37] User Engagement - Audience time spent with BuzzFeed content totaled 297.9 million hours in 2024, reflecting a 3% decline year-over-year[8] - The percentage of loyal users on BuzzFeed.com reached approximately 48%, the highest level in the last two years[8] Future Outlook - BuzzFeed expects overall revenues in 2025 to be between $195 million and $210 million, representing a 3-10% increase from 2024[15] - The company plans to begin private beta testing of its new social platform, BF Island, in Q2 2025[2]