Financial Performance - BuzzFeed reported Q3 2024 revenues of $64.3 million, a 7% increase year-over-year[2]. - Adjusted EBITDA reached $10.5 million, a nearly four-fold increase compared to Q2 2024 and a $10 million improvement year-over-year[3]. - Net income from continuing operations was $2 million, a $14 million improvement from a net loss of $12 million in Q3 2023[2]. - Total revenue for Q3 2024 was $64,320, a 7% increase from $59,978 in Q3 2023[17]. - Net income from continuing operations improved to $1,968, a 116% increase from a loss of $12,049 in Q3 2023[20]. - Adjusted EBITDA for Q3 2024 was $10,540, compared to $341 in Q3 2023, marking a significant improvement[17]. - The company reported a 15% decline in total revenue for the nine months ended September 30, 2024, compared to the same period in 2023[17]. - Net loss from continuing operations for the nine months ended September 30, 2024, was $31,084 thousand, a significant improvement from a loss of $63,920 thousand in the same period of 2023, representing a 51% reduction[21]. - Adjusted EBITDA for the three months ended September 30, 2024, was $10,540 thousand, with an adjusted EBITDA margin of 16.4%, compared to 0.6% in the same period of 2023[22]. - The net income (loss) from continuing operations as a percentage of revenue for the nine months ended September 30, 2024, was (19.9)%, an improvement from (36.1)% in the same period of 2023[22]. Revenue Breakdown - Affiliate commerce revenues grew 53% year-over-year to $19.6 million, driven by the most successful Prime Day in July[2]. - Programmatic advertising revenues increased by 9% year-over-year to $17.3 million[2]. - Advertising revenue declined by 3% year-over-year to $26.1 million, while content revenue fell by 7% to $17.4 million[2]. - Commerce and other revenue increased by 45% to $20,897, up from $14,447 in Q3 2023[17]. Cash and Assets - Total current assets decreased to $120,920 from $132,789 at the end of 2023[19]. - Total liabilities decreased to $202,473 from $300,293 at the end of 2023[19]. - Cash and cash equivalents increased to $53,723 from $35,637 at the end of 2023[19]. - Cash used in operating activities from continuing operations was $7,372 thousand for the nine months ended September 30, 2024, compared to cash provided of $2,052 thousand in the same period of 2023[21]. - The company reported a net increase in cash and cash equivalents of $18,086 thousand for the nine months ended September 30, 2024, compared to a decrease of $13,304 thousand in the same period of 2023[21]. Strategic Outlook - The company aims to deliver consistent topline growth and expanded profitability in 2025 and beyond[2]. - BuzzFeed's strategy focuses on scalable, tech-driven revenue lines to stabilize the business[2]. - The company plans to share updates on its debt, balance sheet, and Q4 financial outlook in the coming weeks[4]. Other Financial Metrics - Stock-based compensation for the nine months ended September 30, 2024, was $4,238 thousand, slightly down from $4,524 thousand in the same period of 2023[22]. - The company experienced a significant change in fair value of warrants, reporting a gain of $582 thousand for the nine months ended September 30, 2024, compared to a gain of $94 thousand in the same period of 2023[22]. - Cash provided by investing activities from discontinued operations was $108,575 thousand for the nine months ended September 30, 2024, with no comparable figure for the same period of 2023[21]. - The company incurred capital expenditures of $500 thousand for the nine months ended September 30, 2024, down from $761 thousand in the same period of 2023[21]. - The company reported a loss on investment of $3,500 thousand in the nine months ended September 30, 2023, with no comparable figure for the same period of 2024[21].

John M Lund Photography Inc/DigitalVision via Getty Images On Seeking Alpha's free site, I've written two pieces on BuzzFeed, Inc. (NASDAQ:BZFD). Picking back up on the research trail, lo and behold, just as I forecasted, within the July 29, 2024 piece, BuzzFeed provided its best Q3 guidance ever, when they reported Q2 FY 2024 results (August 12, 2024). Third Quarter 2024 Financial Outlook . We expect overall revenues in the range of $58 million to $63 million, or approximately 3% lower to 5% higher than th ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 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) Q2 2024 Earnings Call Transcript August 12, 2024 5:00 PM ET Company Participants Amita Tomkoria - SVP of IR Jonah Peretti - CEO Matt Omer - CFO Operator Good day, and thank you for standing by, and welcome to BuzzFeed, Inc. Second Quarter 2024 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 today, Amita Tomkoria, Senior Vic ...

BUZZFEED, INC. POSTS STRONG Q2 FINANCIAL RESULTS AND EXPECTS CONTINUED IMPROVEMENT IN Q3 Programmatic Advertising Revenues Grew 3% Year-Over-Year Affiliate Commerce Revenues Grew 9% Year-Over-Year BuzzFeed, Inc. was the Only Digital Media Company in Competitive Set to Grow Audience Time Spent in Q2 Versus Q1, according to Comscore 1 NEW YORK – August 12, 2024 – BuzzFeed, Inc. (Nasdaq: BZFD) reported improved second quarter (ended June 30, 2024) net loss from continuing operations as compared to the prior-ye ...

By clicking "Sign Up", you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Back in 2021, BuzzFeed was worth around $1 billion. Now it's worth $100 million. The bad news is Peretti seems uninterested in Gupta's suggestions: Gupta says a note he sent Peretti's company on July 9 has not generated a response. But since I'm a journalist, I'm duty-bound to report that there are now three investor ...

Vivek Ramaswamy's quest to continue remaking Buzzfeed (NASDAQ:BZFD) has taken a new turn. Indeed, the billionaire and former Republican presidential candidate isn't the only conservative buying up shares of BZFD stock. Now, the family of noted businessman William J. Pulte is jumping on board, having taken an activist stake in the digital media company. What's Happening With BZFD Stock? The Pulte family shared the following statement on X: The statement also clarified that the Pulte family is not working wit ...

Which seems to have been the case since Ramaswamy, a former Republican presidential candidate, disclosed that he was buying up shares of the digital publisher earlier this year. There's a reason the non-news is worth noting today, though: It's July 15, the deadline Ramaswamy set for BuzzFeed to expand its board of directors by adding three new members he proposed. Related stories And from what I can tell, that deadline turned out to not be a real deadline. Advertisement Last month, Ramaswamy and two of his ...

BuzzFeed, Inc. (NASDAQ:BZFD) is a digital media company known for its interesting blend of news, entertainment, lifestyle, and trendy content. The company's products cater to diverse audiences in a global and multilingual market, leveraging various revenue streams, such as native advertising, e-commerce through affiliate marketing, subscriptions for premium content, and content licensing to other outlets. After a challenging 2023, BZFD's investor letter highlights strategic moves like selling Complex Networ ...

On the heels of the Trump/Biden presidential debate, shares in Trump Media & Technology (NASDAQ:DJT) surged in after-hours trading. However, it promptly nosedived after the markets opened. But does Trump's debate win mean the stock is worth buying, or are there stocks to buy instead of Trump Media that capture both political will and emergent social media opportunities? From a purely operational success standpoint, and not accounting for its meme stock status, Trump Media is cooked. Though the initial premi ...