ZD INVESTORS LOSE MONEY AS REPORTED NUMBERS MASKED REAL RESULTS -- LEVI & KORSINSKY, LLP

Core Viewpoint - Ziff Davis investors experienced significant losses as the company's reported financial metrics obscured its actual performance, leading to a stock decline of over 10% following the Q4 2025 earnings report [1] Financial Performance - For the year 2025, Ziff Davis reported adjusted EBITDA of $495.1 million and adjusted diluted EPS of $6.63, both figures falling below the company's projections [1] - The company's Q4 2025 revenue declined by 1.5% year-over-year to $406.7 million, with adjusted EPS missing both consensus and internal projections [1] Communication and Reporting - Throughout 2025, Ziff Davis emphasized adjusted EBITDA and adjusted diluted EPS as key performance indicators during earnings presentations and calls [1] - The CFO reported an adjusted diluted EPS of $1.24 during the Q2 2025 earnings call, attributing it to higher adjusted EBITDA and lower diluted shares outstanding, which contrasted with the GAAP results that included foreign-exchange-related losses [1]