IAC (IAC) Q4 2025 earnings summary

Executive summary

• Q4 2025 delivered strong digital revenue growth and robust off-platform expansion, offsetting print and Google referral declines, with a strategic focus on transforming content brands and core assets like People Inc. and MGM.

• Adjusted EBITDA was nearly flat year-over-year at $142M, with a 29% year-over-year rise to $141.6M in another report, and net loss improved to $76.8M in Q4 2025.

• Strategic investments included increased MGM ownership, Angi spin-off, and AI-driven partnerships with Meta and Microsoft.

• $337M in share buybacks over the past year reduced share count by 10%.

• Leadership changes and product innovation, including AI integration at Vivian and new content distribution strategies, were emphasized.

Financial highlights

• Q4 2025 digital revenue grew 14% year-over-year to $355M, while print revenue declined 23% to $168M.

• Full-year revenue reached $1.8B–$2.39B, with digital revenue at $1.1B (up 10% year-over-year) and Adjusted EBITDA at $331M–$357M.

• Care.com reported $47M in Adjusted EBITDA for FY 2025 on $347M revenue.

• People Inc. digital Adjusted EBITDA margin excluding Certain Items was 39% in Q4 2025.

• Free cash flow for 2025 was $44.8M, with cash and equivalents at $960.2M and long-term debt at $1.4B.

Outlook and guidance

• 2026 guidance projects consolidated Adjusted EBITDA of $260M–$340M, with People Inc. expected at $310M–$340M and digital revenue and Adjusted EBITDA to grow mid- to high-single digits.

• Care.com expects a return to revenue growth in 2026.

• Search segment faces uncertainty due to Google partnership and ecosystem disruptions.

• Corporate expense expected at $80M–$90M.

• No more quarterly guidance; focus shifted to annual outlook and long-term execution.