IAC (IAC) Company Report

People Inc. reported Q4 2025 Total Revenue of $512 million, a 2% decrease year-over-year, driven by a 14% increase in Digital revenue to $355 million and a 23% decrease in Print revenue to $168 million. Total Adjusted EBITDA excluding Certain Items for Q4 2025 was $142 million, a 1% decrease year-over-year.
For the full year 2025, People Inc. achieved $1.1 billion in Digital revenue (up 10% year-over-year) and $331 million in Total Adjusted EBITDA excluding Certain Items. Care.com reported $347 million in revenue and $47 million in Adjusted EBITDA for the twelve months ended December 31, 2025.
IAC repurchased $337 million of its shares since the beginning of 2025, including $37 million since Q3 earnings, reducing shares outstanding from 85 million to 78 million, representing 10% of equity repurchased. Additionally, IAC purchased 1 million shares of MGM shares for $40 million in Q4 2025.
For fiscal year 2026, IAC provided guidance for Total Adjusted EBITDA between $260 million and $335 million, with People Inc. Adjusted EBITDA expected to be $310-$340 million and Care.com Adjusted EBITDA between $45-$55 million.

5 hours ago

Presentation

IAC Reports Q4 2025 Results with Digital Revenue Growth and Strategic Investments

IAC

Earnings

Guidance Update

Share Buyback

IAC reported Q4 2025 revenue of $646.0 million, a 10% decrease year-over-year, with a net loss of $(76.8) million, but Adjusted EBITDA increased 29% to $141.6 million.
People Inc. Digital revenue grew 14% to $355 million in Q4 2025, its highest growth in five quarters, contributing to $1.1 billion in full-year Digital revenue. Conversely, Care.com recorded a $(191.1) million operating loss due to a $207.5 million non-cash goodwill impairment.
The company repurchased 1.0 million common shares for $37 million in Q4 2025 and expanded its strategic investment in MGM by purchasing an additional 1.0 million shares for $40 million, now holding 65.8 million shares.
For the full year 2026, IAC projects Total Adjusted EBITDA between $260 million and $335 million and announced it will no longer provide quarterly outlooks.

5 hours ago

8-K

IAC Subsidiary Vivian Health Announces CEO Change

IAC

CEO Change

Management Change

Revenue Acceleration/Inflection

Vivian Health, a subsidiary of IAC, announced a leadership transition, appointing Bill Kong as CEO, succeeding co-founder Parth Bhakta, who will transition to Executive Chairman.
Adam Greenberg, previously CFO, will take on an expanded role as President & CFO.
These changes are effective immediately and are intended to prepare the company for its next phase of growth, focusing on accelerating product innovation and AI-driven scaling.
Vivian Health has achieved profitability and 50x revenue growth since IAC's acquisition, now supporting 2.7 million clinicians and facilitating over $1.5 billion in healthcare labor spend annually.

5 days ago

Press Release

IAC's People Inc. Announces AI Content Partnership with Meta

IAC

New Projects/Investments

IAC's operating business, People Inc., announced a multi-year strategic content partnership with Meta on December 5, 2025.
This agreement positions People Inc. as the first lifestyle publisher to secure an AI commercial deal with Meta, providing Meta AI users with content from brands such as PEOPLE, Better Homes & Gardens, and Investopedia.
The partnership, which follows similar agreements with OpenAI and Microsoft, aims to accelerate People Inc.'s AI partner strategy, though the financial terms were not publicly disclosed.

Dec 5, 2025, 1:30 PM

Press Release

IAC Outlines Strategic Focus on People Inc. and MGM, Updates Q3 2025 Performance

IAC

Guidance Update

Legal Proceedings

New Projects/Investments

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

Earnings Transcripts

Quarterly earnings call transcripts for IAC.

Q3 2025

Nov 4, 2025

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Q2 2025

Aug 5, 2025

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