Ziff Davis Inc 2026年四季度报告

NEW YORK, NY -- February 23, 2026 -- Ziff Davis, Inc. (NASDAQ: ZD) (“Ziff Davis” or “the Company”) today reported unauditedfinancial results for the fourth quarter and year ended December 31, 2025. “In 2025, Ziff Davis grew Revenues, Adjusted EBITDA, and Adjusted diluted EPS, while generating almost $290 million in Freecash flow,” said Vivek Shah, CEO of Ziff Davis. “We deployed $174 million in share repurchases during the year with theconviction that our share price does not adequately reflect the intrinsic value of our businesses.” FOURTH QUARTER 2025 RESULTS •Revenues(1)decreased to $406.7 million compared to $412.8 million for Q4 2024.•Income from operations increased 9.6%to $86.0 million compared to $78.5 million for Q4 2024.•Net income(2)decreased to $0.4 million compared to $64.1 million for Q4 2024. This includes a pre-tax $58.0 million losson sale of business and $19.7 million loss on equity method investment, net of tax in Q4 2025 compared to $3.1 millionincome from equity method investment, net of tax in Q4 2024.•Net income per diluted share(2)decreasedto $0.01 in Q4 2025 compared to $1.43 for Q4 2024.•Adjusted EBITDA(3)decreasedto $163.2 million compared to $171.8 million for Q4 2024.•Adjusted net income(2) (3)decreased to $100.5 million compared to $110.2 million for Q4 2024.•Adjusted net income per diluted share(2) (3)(or “Adjusted diluted EPS”) decreased to $2.56 compared to $2.58 for Q42024.•Net cash provided by operating activities increased 20.8%to $191.1 million compared to $158.2 million in Q4 2024. Freecash flow(3)increased 20.4%to $157.8 million compared to $131.1 million in Q4 2024.•Ziff Davis deployed approximately $1.4 million for current and prior year acquisitions in Q4 2025 and $60.6 million relatedto share repurchases in Q4 2025. FULL YEAR 2025 RESULTS •Revenues(1)increased 3.5% to $1.45 billion compared to $1.40 billion for 2024.•Income from operations increased 61.1%to $183.1 million compared to $113.6 million for 2024. This includes a $17.6million goodwill impairment recognized in 2025 compared to a $85.3 million goodwill impairment recognized in 2024.•Net income(2)decreasedto $47.4 million compared to $63.0 million for 2024. This includes a pre-tax $58.0 million loss onsale of business recognized in 2025 compared to $3.8 million loss on sale of business recognized in 2024, and a $7.9million loss on equity method investment, net of tax in 2025 compared to $11.2 million income from equity methodinvestment, net of tax in 2024.•Net income per diluted share(2)decreased to $1.15 in 2025 compared to $1.42 for 2024.•Adjusted EBITDA(3)increased 0.3% to $495.1 million compared to $493.5 million for 2024.•Adjusted net income(2) (3)decreased to $272.5 million compared to $294.5 million for 2024.•Adjusted diluted EPS(2) (3)increased 0.2%to $6.63 compared to $6.62 for 2024.•Net cash provided by operating activities increased 4.3% to $407.1 million compared to $390.3 million in 2024. Free cashflow(3)increased 1.5%to $287.9 million compared to $283.7 million in 2024.•Ziff Davis deployed approximately $68.7 million for current and prior year acquisitions in 2025 and $173.8 million relatedto share repurchases in 2025. The following table reflects results for the three months and years ended December 31, 2025 and 2024, respectively (in millions,except per share amounts). Notes: (1)The revenues associated with each of the reportable segments may have been rounded when presented independently so they foot precisely to Total Revenues.(2)GAAP effective tax rates were approximately (1.0)% and 18.3% for the three months ended December 31, 2025 and 2024, respectively,and 31.5% and 44.4% for the years ended December 31, 2025 and 2024, respectively. Adjusted effective tax rates were approximately21.4% and 22.8% for the three months ended December 31, 2025 and 2024, respectively, and 23.5% and 23.5% for the years endedDecember 31, 2025 and 2024, respectively.(3)For definitions of non-GAAP financial measures and reconciliations of GAAP to non-GAAP financial measures refer to section “Non-GAAP Financial Measures” further in this release. ZIFF DAVIS GUIDANCE As noted in the Company’s Third Quarter 2025 earnings release, Ziff Davis has engaged outside advisors to assist in evaluatingvalue-creating opportunities, including the potential sale of entire divisions of the Company. As this process is ongoing, theCompany is deferring its fiscal 2026 guidance. EARNINGS CONFERENCE CALL AND AUDIO WEBCAST Ziff Davis will host a live audio webcast and conference call discussing itsfourthquarter and year-end 2025 financial results onTuesday, February 24, 2026, at 8:30AM ET. The live webcast and call will be accessible by phone by dialing (844) 985-2014 orvia www.ziffdavis.com. Following the event, the audio recording and presentation materials will be archived and made availableat www.ziffdavis.com. ABOUT ZIFF DAVIS Ziff Davis, Inc. (NASDAQ: ZD) is a vertically focused digital media and internet company w