People Incorporated (PPLI) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue declined 8% year-over-year to $589.8 million, with an operating loss of $20.4 million and net loss of $21.9 million, a 91% improvement from Q3 2024.

• Achieved 9% year-over-year digital revenue growth at People Inc., marking eight consecutive quarters of digital increases and an 18% CAGR in digital Adjusted EBITDA from 2023 to 2025.

• Completed Angi spin-off, streamlined portfolio to focus on People Inc. and a 23.8–24% stake in MGM Resorts, and repurchased $300M in shares YTD (8% of equity).

• Strategic shift to offensive growth for People Inc., leveraging iconic brands, expanding off-platform and direct-to-consumer initiatives, and entering AI licensing deals.

• Strong cash position of $1.0 billion and additional capital expected from asset sales.

Financial highlights

• Q3 2025 total revenue was $589.8M, down 8% year-over-year; People Inc. contributed $429.8M (down 2%), Care.com $90.8M (down 5%), and Search $51.9M (down 41%).

• People Inc. digital revenue grew 9% to $269M, while print revenue declined 15%.

• Q3 2025 Adjusted EBITDA for People Inc. was $65M (down 5%), Care.com $7.8M (down 57%), and Search $1.9M (down 23%).

• Q3 2025 net loss attributable to shareholders was $21.9M, improved from $243.7M loss in Q3 2024.

• Free cash flow for the nine months ended September 30, 2025, was $13.5M, down $101M year-over-year.

Outlook and guidance

• People Inc. expects Q4 digital revenue growth of 7–10% and print revenue to decline 20–25%.

• Full-year 2025 Adjusted EBITDA guidance: $234M–$258M for the group, $325M–$340M for People Inc.

• Care.com Q4 revenue expected to decline 7–9% sequentially.

• Management expects continued negative impact on digital traffic from Google AI Overviews.