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Ziff Davis Reports Fourth Quarter and Full Year 2025 Financial Results

ZD
  • Ziff Davis reported Q4 2025 revenues of $406.7 million, a 1.5% decrease from $412.8 million in Q4 2024.
  • Full year 2025 revenues increased 3.5% to $1.45 billion compared to $1.40 billion in 2024.
  • Q4 2025 income from operations rose 9.6% to $86.0 million, while full year 2025 income from operations surged 61.1% to $183.1 million.
  • Q4 2025 net income dropped to $0.4 million from $64.1 million in Q4 2024 due to a $58.0 million pre-tax loss on the sale of a business & a $19.7 million net loss on equity method investments.
  • Full year 2025 net income decreased to $47.4 million from $63.0 million in 2024, impacted by a $58.0 million pre-tax loss on sale of business & a $7.9 million net loss on equity method investments.
  • Q4 2025 Adjusted EBITDA declined 5.0% to $163.2 million, while full year 2025 Adjusted EBITDA increased 0.3% to $495.1 million.
  • Full year 2025 Adjusted diluted EPS rose 0.2% to $6.63 compared to $6.62 in 2024.
  • Free cash flow for Q4 2025 increased 20.4% to $157.8 million, with full year 2025 free cash flow growing 1.5% to $287.9 million.
  • The company deployed $173.8 million for share repurchases in 2025 & approximately $1.4 million for acquisitions in Q4 2025.
  • CEO Vivek Shah stated the company generated almost $290 million in free cash flow for 2025.
  • Ziff Davis deferred its fiscal 2026 guidance as it evaluates value-creating opportunities, including potential division sales.
  • Technology & Shopping segment revenues fell 18.0% in Q4 2025 & 1.5% for the full year 2025.
  • Health & Wellness revenues grew 8.6% in Q4 2025 & 11.0% for the full year 2025.
  • Connectivity segment revenues increased 11.2% in Q4 2025 & 8.0% for the full year 2025.
  • Gaming & Entertainment revenues rose 1.5% in Q4 2025 & 1.8% for the full year 2025.
  • Cybersecurity & Martech revenues increased 2.7% in Q4 2025 but decreased 1.9% for the full year 2025.
  • A $17.6 million goodwill impairment was recognized in 2025, compared to an $85.3 million impairment in 2024.
  • Net cash provided by operating activities increased 20.8% to $191.1 million in Q4 2025 & 4.3% to $407.1 million for the full year 2025.
  • Cash & cash equivalents at December 31, 2025, totaled $607.0 million, up from $505.9 million in 2024.
  • Total assets were $3.66 billion as of December 31, 2025, down from $3.70 billion in 2024.
  • Total liabilities stood at $1.91 billion at the end of 2025, compared to $1.89 billion in 2024.
  • An earnings conference call is scheduled for February 24, 2026, at 8:30 AM ET.