Financial Results - IAC posted its first quarter financial results on May 5, 2025, available on its investor relations website [1] - A conference call to discuss these results will take place on May 6, 2025, at 8:30 a.m. ET, featuring IAC's Executive Vice President, CFO, COO Christopher Halpin, and Dotdash Meredith's CEO Neil Vogel [1] Company Overview - IAC is a company that builds and evolves businesses, driven by curiosity and a desire to innovate or acquire new products and brands [3] - Over two decades, IAC has developed into 10 independent, publicly traded companies and has produced generations of exceptional leaders [3] - Current key businesses include Dotdash Meredith and Care.com, along with strategic equity positions in MGM Resorts International and Turo Inc. [3] - IAC is headquartered in New York City [3]

Revenue Performance - DDM revenue increased 1% to $393.1 million, driven by a $14.9 million (7%) increase in Digital revenue, while Print revenue decreased by $12.1 million (7%)[155] - Digital revenue growth was primarily due to a $7.5 million (30%) increase in Licensing and Other revenue, an $11 million (11%) increase in Performance marketing revenue, and a $1.7 million (1%) increase in Advertising revenue[155] - Care.com revenue decreased by $3.7 million (4%) to $88.9 million, while Search revenue fell by $38.1 million (35%) to $70.3 million[155] - Care.com revenue decreased 4% to $88.9 million, with Consumer Revenue down 9% to $48.1 million, while Enterprise Revenue increased 3% to $37.3 million[157] - Search revenue decreased 35% to $70.3 million, primarily due to a $32.3 million (36%) decline from Ask Media Group and a $5.9 million (32%) decrease from Desktop[157] - Emerging & Other revenue decreased 46% to $18.3 million, largely due to the prior year inclusion of $17.9 million from Mosaic Group, which was sold on February 15, 2024[157] Cost and Expense Management - Cost of revenue decreased by $54.2 million (21%) to $205.3 million, reducing as a percentage of revenue from 42% in 2024 to 36% in 2025[156] - The decrease in cost of revenue was primarily due to reductions of $40.2 million from Search, $8.4 million from Emerging & Other, and $4.2 million from DDM[156] - Selling and marketing expense decreased 4% to $180.9 million, representing 32% of revenue, with notable decreases from Emerging & Other ($9.4 million) and Care.com ($2.6 million)[159] - General and administrative expense decreased 51% to $62.8 million, primarily due to a $39.3 million decrease from DDM and a $19.1 million decrease from Corporate[160] - Product development expense decreased 21% to $50.2 million, accounting for 9% of revenue, with reductions from Emerging & Other ($9.0 million) and DDM ($4.8 million)[162] Profitability and Income Metrics - Operating income increased by $99.2 million to $35.8 million, driven by a $45.3 million increase in Adjusted EBITDA and a $39.9 million decrease in stock-based compensation expense[167] - Adjusted EBITDA increased 818% to $50.9 million, with DDM Adjusted EBITDA rising 166% to $80.3 million due to cost rationalization and higher revenue[170] - The Corporate Adjusted EBITDA loss increased 71% to $42.4 million, primarily due to $14.5 million in separation benefits to the former CEO and $4.8 million in transaction-related costs[170] - The company reported a loss before income taxes of $309,115 thousand in 2025, compared to earnings before income taxes of $95,971 thousand in 2024[188] Cash Flow and Financial Position - Total cash and cash equivalents decreased from $1,381,736 thousand at December 31, 2024, to $1,159,225 thousand at March 31, 2025[190] - The company reported an unrealized loss on the investment in MGM of $324.3 million for the three months ended March 31, 2025, compared to an unrealized gain of $163.8 million in 2024[192][211] - The company generated positive cash flows from operating activities of $0.1 million for the three months ended March 31, 2025, but negative cash flows of $16.6 million when excluding DDM's contributions[205] - The company's consolidated cash and cash equivalents were $1.2 billion as of March 31, 2025, with consolidated debt of approximately $1.5 billion[206] Debt and Interest Management - DDM Term Loan A had an outstanding balance of $288.8 million as of March 31, 2025, with interest rates at 6.66%[152] - Interest expense decreased by $6,366 thousand (18%) from $34,680 thousand in 2024 to $28,314 thousand in 2025, primarily due to lower interest rates and reduced debt outstanding[171] - If Adjusted Term SOFR were to increase or decrease by 100 basis points, the annual interest expense on the DDM Term Loans would increase or decrease by $11.2 million[215] Investments and Strategic Actions - IAC completed the spin-off of Angi Inc. on March 31, 2025, resulting in Angi becoming an independent public company[143] - IAC's strategic equity positions include MGM Resorts International and Turo Inc.[141] - The company entered into an amendment to its Services Agreement with Google, extending the expiration date to March 31, 2026[153] - The fair value of the company's investment in MGM was $2.1 billion as of May 2, 2025, with a cumulative unrealized net pre-tax gain of $654.5 million through March 31, 2025[212] - The unrealized loss on investment in MGM was $324,265 thousand in 2025, a decrease of $488,016 thousand compared to a gain of $163,751 thousand in 2024, reflecting the company's accounting method for this investment[172] Shareholder Actions - The company repurchased 3.9 million shares of common stock for $179.4 million at an average price of $45.71 per share during the three months ended March 31, 2025[194][201] - Net loss attributable to IAC shareholders was $216,805 thousand in 2025, compared to net earnings of $45,031 thousand in 2024[188]

Financial Performance - IAC reported Q1 2025 revenue of $570.5 million, a decrease of 9% compared to Q1 2024 revenue of $624.3 million[3]. - Adjusted EBITDA for Q1 2025 was $50.9 million, reflecting an increase of 818% from $5.5 million in Q1 2024[3]. - Care.com revenue decreased by 4% to $88.9 million, with operating income remaining flat at $11.7 million[13]. - Emerging & Other revenue decreased by 46% year-over-year to $18.3 million, primarily due to the sale of Mosaic Group[12]. - IAC's net loss for Q1 2025 was $216.8 million, compared to net earnings of $45.0 million in Q1 2024[3]. - Free cash flow for Q1 2025 was negative $4.6 million, a decrease of $41.9 million year-over-year[17]. - Total revenue for Q1 2025 was $393.1 million, a slight increase of 1% compared to $390.5 million in Q1 2024[27]. - The company reported a net loss of $214.6 million for Q1 2025, compared to a net income of $44.9 million in Q1 2024[33]. - Operating income for Q1 2025 was $35.8 million, a significant improvement from an operating loss of $63.4 million in Q1 2024[33]. - The company’s accumulated deficit increased to $755.8 million as of March 31, 2025, compared to $539.0 million at the end of 2024[36]. - For Q1 2025, IAC reported a net loss from continuing operations of $229,881 thousand, compared to net earnings of $49,444 thousand in Q1 2024[37]. - The total cash used in operating activities attributable to continuing operations was $609,678 thousand in Q1 2025, a significant decrease from $209,342 thousand in Q1 2024[37]. Revenue Breakdown - Dotdash Meredith (DDM) digital revenue increased by 7% to $224 million, while print revenue decreased by 7% to $174 million[4]. - Digital revenue grew by 7% year-over-year to $224.2 million, driven by a 30% increase in licensing and other revenue[27]. - IAC's total DDM Adjusted EBITDA for Q1 2025 was $80.3 million, compared to a loss of $63.4 million in Q1 2024[42]. - Consumer Revenue consists mainly of subscription fees from families and caregivers, along with revenue from household payroll and tax support services, and contracts with businesses advertising through the platform[57]. - Enterprise Revenue is generated through annual contracts with businesses providing access to Care.com's suite of products and services as an employee benefit[58]. Share Repurchase and Cash Position - IAC repurchased 4.5 million shares for a total of $200 million since Q4 2024, with a new authorization for an additional 10 million shares[4]. - The company had $1.2 billion in cash and cash equivalents, with $917 million held by IAC and $243 million by DDM[25]. - IAC's cash and cash equivalents at the end of Q1 2025 were $1,168,339 thousand, down from $1,515,801 thousand at the end of Q1 2024[37]. - Long-term debt stood at $1.5 billion, with a net consolidated leverage ratio below 4.0x, providing increased financial flexibility[23]. - The company has a $150 million revolving credit facility with no borrowings outstanding as of March 31, 2025[24]. Future Outlook - IAC's full year 2025 outlook for Adjusted EBITDA is projected to be between $240 million and $295 million, with DDM expected to contribute $330-$350 million[38]. - Digital revenue growth for Q2 2025 is anticipated to be between 7% and 9%, with total Adjusted EBITDA expected to be between $67 million and $73 million[40]. - Care.com is expected to see revenue declines of 5% to 8% in Q2 2025, with Adjusted EBITDA projected between $3 million and $5 million[40]. - The company expects total operating income for FY 2025 to be between $75 million and $150 million[38]. - Stock-based compensation expense for FY 2025 is projected to be between $30 million and $25 million[38]. Strategic Positioning and Risks - IAC anticipates future financial performance and business prospects, including the benefits of the completed Angi Inc. spin-off and leadership reorganization[61]. - IAC holds strategic equity positions in MGM Resorts International and Turo Inc., alongside its category-leading businesses Dotdash Meredith and Care.com[62]. - Risks include the ability to market products effectively, competition with generative AI technology, and unstable market conditions affecting advertising spending[61]. - The company emphasizes financially-disciplined opportunism as a core principle guiding its evolution and growth strategy[62].

Implements Corporate Governance EnhancementsFollows Constructive Engagement with ArkhouseNEW YORK, April 29, 2025 /PRNewswire/ -- IAC (NASDAQ: IAC) today announced that it intends to add Tor R. Braham to its Board of Directors in connection with the Company's 2025 Annual Meeting of Stockholders."We look forward to welcoming Tor Braham to the Board," said Bonnie Hammer, Chair of the Board's Nominating Committee. "We believe Mr. Braham's background in technology and capital markets as well as his board servic ...

Wall Street expects a year-over-year decline in earnings on lower revenues when IAC (IAC) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 5. On the other hand ...

IAC Inc. (IAC) shares rallied 8.8% in the last trading session to close at $35.56. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 25.4% loss over the past four weeks.IAC’s rally was fueled by the Trump administration’s announcement of a temporary halt on reciprocal tariffs for most countries. This policy shift was aimed at counteracting the sharp sell-off in the market and easing worries that higher tariffs ...

NEW YORK, April 9, 2025 /PRNewswire/ -- After the close of market trading on Monday, May 5, 2025, IAC (NASDAQ: IAC) will post its first quarter results at https://ir.iac.com/quarterly-results. On Tuesday, May 6, 2025, at 8:30 a.m. ET, IAC will host a conference call to answer questions regarding the company's first quarter results.The live audiocast and replay will be open to the public through the investor relations section of the IAC site at https://ir.iac.com/quarterly-results. About IAC IAC (NASDAQ: IAC ...

An individual investor primarily focused on undercovered companies, with more than 50 companies on my watchlist. My areas include technology, software, electronics and the energy transition. I have been investing my personal capital for over 7 years in a broad range of companies globally. Through my years of analyzing countless companies, I have accumulated professional investment experience within my circle of competence. I have a Masters degree in Electrical Engineering and currently work as an automotive ...

"The team at Angi has worked very hard to earn the right to stand on its own as an independent public company and we are proud of this accomplishment," said Jeff Kip, CEO, Angi. " Over the last two and a half years, we have significantly improved our customer experience and driven increased profitability and cash flow while focusing on the right things to capture the long-term opportunity ahead. With a healthy balance sheet, we are intensely focused on our mission of Jobs Done Well and delivering on our str ...

Former AdTheorent CEO to lead D/Cipher's evolution as the premier cookie-less ad targeting and buying solution for the open Internet NEW YORK, March 17, 2025 /PRNewswire/ -- Today Dotdash Meredith (DDM), the largest digital and print publisher in America, announced the appointment of Jim Lawson as President of D/Cipher, reporting directly to DDM CEO Neil Vogel, to accelerate the growth and development of its D/Cipher contextual ad-targeting solution across the open web. Jim was a co-founder of AdTheorent, a ...