BuzzFeed(US:BZFD)2025-11-06 21:21Financial Performance - Total revenue for Q3 2025 was $46.3 million, a decrease of 17% year-over-year from $55.6 million in Q3 2024[7] - Advertising revenue declined to $22.2 million, reflecting an 11% drop compared to $24.8 million in Q3 2024[7] - Content revenue decreased by 33% to $7.2 million from $10.7 million in Q3 2024[7] - Commerce and other revenue fell to $17.0 million, down 15% from $20.1 million in Q3 2024[7] - Revenue for Q3 2025 was $46.3 million, a decrease of 16.6% compared to $55.6 million in Q3 2024[29] Net Income and Loss - Net loss from continuing operations was $7.4 million, compared to net income of $2.5 million in Q3 2024[7] - Net loss from continuing operations for Q3 2025 was $7.4 million, compared to a net income of $2.5 million in Q3 2024[33] Adjusted EBITDA - Adjusted EBITDA was $0.8 million, a significant decline of 91% from $8.1 million in Q3 2024[7] - Adjusted EBITDA for Q3 2025 was $0.8 million, with an adjusted EBITDA margin of 1.6%[33] Assets and Liabilities - Total assets decreased to $211.2 million as of September 30, 2025, down from $221.4 million at the end of 2024[27] - Total liabilities increased to $134.6 million as of September 30, 2025, compared to $114.5 million at the end of 2024[27] - The company has a total stockholders' equity of $76.7 million as of September 30, 2025, down from $106.9 million at the end of 2024[27] Cash Flow - Cash and cash equivalents at the end of Q3 2025 were $34.3 million, down from $38.6 million at the end of Q4 2024[31] - Operating cash flow from continuing operations was a net cash used of $7.0 million for the nine months ended September 30, 2025[31] - The company incurred $12.2 million in depreciation and amortization for the nine months ended September 30, 2025[31] - The company reported a total of $81.1 million in cost of revenue for the nine months ended September 30, 2025, compared to $77.2 million in the same period of 2024[29] Traffic and Engagement - Total U.S. Time Spent across all BuzzFeed properties was 68.5 million hours, down from 80.3 million hours in Q3 2024[7] - 63% of BuzzFeed.com traffic now comes from direct visits, internal referrals, and app activity, up from 61% in Q2 2025[7] - BuzzFeed remained 1 among Gen Z and Millennials with 10.7 million hours of Time Spent, a 25% increase from Q2 2025[7] Future Outlook - The company expects full-year 2025 revenue in the range of $185 million to $195 million, with Adjusted EBITDA expected to be break-even to $10 million[14] Other Financial Metrics - The company reported net (loss) income from continuing operations as a percentage of revenue, which is a key GAAP measure compared to Adjusted EBITDA margin, a non-GAAP measure[35] - Transaction-related costs and other items are not representative of the underlying operations and include professional fees and integration expenses[34]