IAC (IAC) Company Report

IAC is narrowing its strategic focus to People Inc. and its investment in MGM, planning to divest non-core assets, reduce overhead, and opportunistically increase MGM ownership or repurchase shares.
People Inc. reported 9% digital revenue growth and $75 million in pro forma adjusted EBITDA for Q3 2025, but lowered its full-year adjusted EBITDA guidance to $325 million-$340 million due to ongoing Google Search disruptions and increased legal expenses.
The company is pursuing ad tech litigation against Google, expecting $4 million in legal expenses for Q4, with the aim of recovering hundreds of millions in damages.
IAC notes that despite MGM's strong operational performance and significant share buybacks, its share price has declined 29% since early 2022, with its core business trading at a low multiple.

Nov 4, 2025, 1:30 PM

Transcript

IAC Announces Strategic Focus on People Inc. and MGM, Reports Q3 2025 Results

IAC

Share Buyback

Revenue Acceleration/Inflection

New Projects/Investments

IAC is strategically slimming down its assets and overhead, focusing on People Inc. and its 24% investment in MGM, with plans to divest non-core holdings within three to six months.
The company repurchased an additional $100 million of shares since early August, bringing year-to-date purchases to $300 million (7 million shares or 8% of shares outstanding), and holds over $1 billion in cash.
People Inc. reported its eighth consecutive quarter of digital revenue growth, with 9% digital revenue growth in Q3 2025 and $72 million in digital EBITDA. Despite Google Search traffic for core brands declining from 54% to 24% over two years, off-platform audiences accelerated 66% year over year.
IAC expects corporate costs to be in the mid-$80 million range next year and anticipates $60 million in run rate savings from a reduction in force, with half flowing to profitability. The company is also pursuing hundreds of millions of dollars in damages through Google litigation.

Nov 4, 2025, 1:30 PM

Transcript

IAC Discusses Strategic Direction, Q3 2025 Performance, and Capital Allocation

IAC

Guidance Update

Share Buyback

Legal Proceedings

IAC is streamlining its focus to two core parts: People Inc. (publishing) and its investment in MGM, with plans to divest non-core holdings and reduce overhead.
For Q3 2025, People Inc. reported 9% digital revenue growth and $72 million in digital Adjusted EBITDA. The company faces challenges from Google search traffic, which decreased from 54% to 24% of core brand traffic over two years, but off-platform audiences grew 66% year-over-year.
IAC's ownership in MGM is 24%, with management believing it will increase, citing MGM's undervalued stock which has declined 29% since early 2022 despite strong performance.
IAC repurchased an additional $100 million of its shares in Q3 2025, bringing year-to-date repurchases to $300 million (8% of shares outstanding), and holds over $1 billion in cash. The company plans to be opportunistic with share repurchases for both IAC and MGM stock, while remaining cautious on M&A due to high asset pricing.
IAC lowered its full-year 2025 Adjusted EBITDA guidance for People Inc. to $325 million to $340 million, reflecting continued Google search disruptions and increased legal expenses, including $4 million for ad tech litigation against Google in Q4.

Nov 4, 2025, 1:30 PM

Transcript

IAC Reports Q3 2025 Financial Results and Provides FY 2025 Guidance

IAC

Earnings

Guidance Update

Share Buyback

IAC's Total Revenue for Q3 2025 was $590 million, an 8% decrease from Q3 2024, with Total Adjusted EBITDA at $64 million, down 11%.
People Inc. demonstrated strong digital growth in Q3 2025, with Digital Revenue up 9% to $269 million and Digital Adjusted EBITDA also up 9% to $72 million.
The company repurchased $100 million in shares during Q3 2025, bringing year-to-date buybacks to $300 million and reducing shares outstanding by 8% since the beginning of 2025.
IAC projects FY 2025 Adjusted EBITDA to be between $234 million and $258 million.

Nov 4, 2025, 1:30 PM

Presentation

IAC Reports Q3 2025 Results, Updates Guidance, and Details Strategic Focus

IAC

Earnings

Guidance Update

Legal Proceedings

IAC is strategically narrowing its focus to People Inc. and its 24% ownership in MGM, with plans to divest non-core assets and reduce overhead.
The company repurchased an additional $100 million of shares since early August, bringing year-to-date purchases to $300 million (representing 8% of shares outstanding), and maintains over $1 billion in cash.
People Inc. achieved 9% digital revenue growth and $75 million in adjusted EBITDA (pro forma) in Q3 2025, despite a 3% decline in ad revenue driven by a significant drop in Google Search traffic from 54% two years ago to 24% this quarter.
People Inc. expects Q4 2025 digital revenue growth of 7%-10% and lowered its FY 2025 adjusted EBITDA guidance to $325 million-$340 million (excluding one-time items), partly due to continued Google Search disruptions and $4 million in Q4 legal expenses for ad tech litigation.
IAC is pursuing litigation against Google for anti-competitive behavior in ad tech, seeking hundreds of millions of dollars in damages, with $4 million in legal expenses expected in Q4 2025 for this matter.

Nov 4, 2025, 1:30 PM

Transcript

IAC Inc. Reports Q3 2025 Net Earnings and Debt Refinancing

IAC

Earnings

Debt Issuance

For the three months ended September 30, 2025, IAC Inc. reported net earnings of $4,327 thousand, a turnaround from a net loss of $(3,246) thousand in the prior year, despite a slight decrease in revenue to $429,827 thousand from $439,463 thousand.
The company completed a significant debt refinancing in June 2025, replacing its Term Loan B-1 with a $700 million Term Loan B-2 and $400 million of 7.625% Senior Secured Notes, extending maturity dates and resulting in a net debt decrease of $21.3 million.
In the third quarter of 2025, Digital revenue grew to $269,022 thousand from $246,431 thousand year-over-year, while Print revenue declined to $168,979 thousand from $198,515 thousand, indicating a shift in revenue contribution.
Net cash provided by operating activities for the nine months ended September 30, 2025, was $57,103 thousand, a decrease from $113,268 thousand in the prior year period, though the consolidated net leverage ratio remained below 4.0 to 1.0.

Nov 3, 2025, 9:12 PM

8-K

IAC Reports Q3 2025 Results, Announces Share Repurchases and People Inc. AI Licensing Deal

IAC

Earnings

Share Buyback

Guidance Update

IAC reported Q3 2025 revenue of $589.8 million, an 8% decrease from the prior year, and Adjusted EBITDA of $29.1 million, a 59% decrease compared to Q3 2024.
The company repurchased 2.8 million shares for $100 million since Q2 2025 earnings, contributing to $300 million in share repurchases year-to-date through October 31, 2025.
People Inc., identified as a core asset, achieved 9% Digital revenue growth in Q3 2025 and secured an AI licensing deal with Microsoft.
For FY 2025, IAC projects total Adjusted EBITDA to be between $234 million and $258 million, with People Inc. contributing $325 million to $340 million to Adjusted EBITDA.

Nov 3, 2025, 9:12 PM

8-K

Amerigo Resources Announces Strong Q3-2025 Results, Debt Repayment, and Dividend Increase

IAC

Earnings

Dividends

Debt Issuance

Amerigo Resources reported strong financial results for Q3-2025, including net income of $6.7 million, EBITDA of $18.7 million, and earnings per share of $0.04.
The company achieved full repayment of its corporate debt in October 2025 and increased its quarterly dividend by 33% to Cdn$0.04 per share.
Free cash flow to equity for Q3-2025 was $11.1 million, contributing to $93.7 million returned to shareholders through its Capital Return Strategy to date.

Oct 29, 2025, 11:30 AM

Press Release

Comply Acquires Trailight to Accelerate Global Expansion

IAC

M&A

New Projects/Investments

Comply, a leading provider of regulatory and compliance technology solutions for financial firms, has acquired Trailight, a UK-based provider of behavioral risk management and accountability solutions.
This acquisition is intended to accelerate Comply's global expansion and create the first fully integrated compliance platform for corporate and employee compliance across various jurisdictions.
The combined platform will extend Comply's coverage to international frameworks including SMCR (UK), IAF and SEAR (Ireland), IAC (Singapore), and MIC (Hong Kong).

Oct 27, 2025, 2:45 PM

Press Release

IAC: Comply Acquires Trailight

IAC

M&A

New Projects/Investments

Comply, a leading provider of regulatory and compliance technology solutions, has acquired Trailight, a UK-based provider specializing in conduct risk management and global accountability regimes.
This acquisition aims to accelerate Comply's global expansion and establish the first and only unified compliance platform integrating corporate and employee compliance, individual accountability regimes, and archiving solutions across all jurisdictions.
The combined entity will strengthen Comply's European presence and extend its coverage to key international frameworks like SMCR (UK), IAF and SEAR (Ireland), IAC (Singapore), and MIC (Hong Kong).
The integrated platform will offer enhanced features, including advanced employee compliance functionalities and automated workflows for regulatory mapping and conduct monitoring.

Oct 27, 2025, 2:44 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for IAC.

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What are IAC's strategic priorities?How is IAC positioned vs competitors?How did IAC do last quarter?

Let Fintool AI Agent track IAC's earnings for you

Get instant analysis when filings drop