BuzzFeed(US:BZFD)2025-11-06 23:00Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $46.3 million, down 17% year over year from $55.6 million in Q3 2024, driven by softer advertising demand and a decrease in affiliate partner bonuses [6][8] - Adjusted EBITDA for the quarter was $753,000 compared to $8.1 million in Q3 2024, indicating a significant decline but remaining positive [6][8] - Year-to-date total revenues reached $128.7 million compared to $133.7 million in the first nine months of 2024, a decline of 4% [9] Business Line Data and Key Metrics Changes - Advertising revenues totaled $22.2 million, down 11% from $24.8 million in Q3 2024, with direct-sold advertising declining to $5.1 million [7] - Content revenue was $7.2 million, a decline of 33% from $10.7 million in Q3 2024, reflecting muted demand for branded content partnerships [7] - Commerce and other revenues totaled $17 million, down 15% from $20.1 million in Q3 2024, primarily due to a decline in organic affiliate commerce [8] Market Data and Key Metrics Changes - Total U.S. time spent across properties was 68.5 million hours, down from 80.3 million hours in Q3 2024, largely due to reduced news consumption compared to the presidential election cycle [8] - BuzzFeed remained number one among Gen Z and millennials, with 10.7 million hours spent, up 25% from Q2 2025 [4][5] Company Strategy and Development Direction - The company is focused on building a leaner, more resilient business model and improving net income from continuing operations [4][10] - Strategic focus on owned distribution, scalable revenue streams, and new innovations is expected to position the company well for long-term value creation [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged Q3 as a challenging quarter with near-term headwinds impacting results, but expects a step-up in Q4 driven by seasonal strength in commerce and advertising [4][10] - The full-year 2025 revenue guidance was reduced by approximately $10 million, now expected in the range of $185-$195 million, with adjusted EBITDA expected to be break-even to $10 million [9][10] Other Important Information - Direct traffic, internal referrals, and app usage now account for 63% of BuzzFeed.com traffic, up from 61% in Q2 2025, indicating reduced platform dependency [5] - Significant progress on various R&D projects was noted, with plans for a larger update in the next earnings call [5] Q&A Session Summary - No specific questions or answers were provided in the content, thus this section is not applicable.