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Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
BuzzFeed (BZFD) investor relations material
BuzzFeed Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 revenue declined 17% year-over-year to $46.3 million, with net loss from continuing operations of $7.4 million compared to net income of $2.5 million in Q3 2024.
Adjusted EBITDA for Q3 2025 was $0.8 million, down from $8.1 million in Q3 2024.
Major divestitures in 2024, including Complex Networks and First We Feast, are reflected as discontinued operations.
Workforce reductions of 6% in August 2025 and 5% in February 2025 were implemented to align costs with revenue.
Direct visits and internal referrals now make up 63% of BuzzFeed.com traffic, up from 61% in Q2.
Financial highlights
Q3 2025 total revenue was $46.3 million, down 17% year-over-year from $55.6 million.
Net loss from continuing operations for Q3 2025 was $7.4 million, compared to net income of $2.5 million in Q3 2024.
For the first nine months of 2025, total revenue was $128.7 million, a 4% decline year-over-year.
Adjusted EBITDA for Q3 was $0.8 million, down from $8.1 million in Q3 2024, but remained positive.
Cash and cash equivalents at September 30, 2025 were $34.3 million.
Outlook and guidance
Full-year 2025 revenue guidance reduced by $10 million, now expected at $185 million–$195 million.
Adjusted EBITDA for the year is expected to be between break-even and $10 million.
Management anticipates a seasonal uptick in Q4, with a focus on cost discipline and operational efficiency.
Existing capital resources are believed sufficient for the next 12 months, with ongoing evaluation of cost savings and capital raising options.
New product development for direct audience
Reason for 33% content revenue decline in Q3?
Monetization strategy for Gen Z/Millennial audience?
R&D focus areas for future growth
Mitigate affiliate bonus methodology changes
Key drivers for revised FY25 EBITDA range
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Q4 202513 Mar, 2026
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Frequently asked questions
BuzzFeed Inc. is a digital media company that distributes news and entertainment content across websites, mobile apps, and social media platforms. The company produces original articles, videos, and list-based content, and operates a portfolio of media brands targeting diverse audiences. Revenue is generated through advertising, commerce, and licensing. The company is headquartered in New York, New York, and its shares are listed on the NASDAQ.
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