People Incorporated (PPLI) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 4% YoY to $430.8M; Adjusted EBITDA was $54.8M, down 1%, while the operating loss narrowed to $3.0M from $27.2M.

• A $1,119.9M unrealized MGM investment loss drove a $687.5M net loss attributable to shareholders and diluted loss per share of $9.15.

• Digital revenue grew 2% for the 12th consecutive quarter; non-session growth partly offset AI- and search-driven traffic pressure and Print declines.

Financial highlights

• Q3 revenue was $430.8M, down 4% YoY; 9M revenue was $1.27B, down 2%.

• Q3 Adjusted EBITDA was $54.8M versus $55.1M; 9M Adjusted EBITDA was $140.0M, up 11%.

• Q3 net loss attributable to shareholders was $687.5M versus $21.9M; the result included a $1,119.9M unrealized MGM investment loss.

• 9M operating cash flow from continuing operations was $105.6M; 9M free cash flow was $80.2M.

• Q3 operating loss narrowed to $3.0M from $27.2M; 9M operating loss widened to $49.2M from $13.6M.

Outlook and guidance

• FY2026 Adjusted EBITDA guidance is $263M–$283M; operating income guidance is $6M–$49M.

• Q4 Digital revenue growth is expected in the low-to-mid single digits; FY2026 Digital growth is expected in the mid-single digits.

• Q4 staffing reductions are expected to incur $15M–$20M in severance and employee separation expense; corporate-function consolidation is targeted to finish in Q1 2027.

• Post-transition annual Corporate operating expense is targeted at ~$45M run rate and stock-based compensation at ~$30M, before future leadership cost reallocations.