Core Insights - The company experienced a 1.5% drop in total revenues in Q4 2025, primarily due to an 18% decline in the Tech & Shopping segment, attributed to lower search engine referrals impacting affiliate commerce [1] Revenue Performance - Full year 2025 revenue grew despite significant headwinds in the Tech & Shopping segment [1] - The Health & Wellness segment achieved record results driven by AI-powered data tools and increased pharma ad spend, particularly from GLP-1 related campaigns and the Lose It! app [1] - Connectivity reached record Q4 revenues with 11% growth, fueled by the launch of Speedtest Pulse and increased service adoption among enterprise and broadband providers [1] Segment Analysis - The Tech & Shopping weakness was linked to a $25 million year-over-year drop in affiliate commissions, with half of this decline occurring in Q4 due to diminished high-intent search traffic [1] - Management is pivoting Tech & Shopping toward video, social, and licensing to offset declines in affiliate commerce, noting that CNET Group video and social views grew 100% in Q4 and 80% for the full year 2025 to 1 billion views [1] Strategic Moves - The company successfully exited the volatile Games Publishing business in Q4 to eliminate operational distractions and capture tax savings while retaining rights to future performance payments [1]