Tue, Feb 25, 10:00 PM (61 days ago)
Ziff Davis, Inc. (NASDAQ: ZD) reported FY 2024 consolidated revenues of approximately $1.40B (in thousands), a 3% increase over FY 2023. The Technology & Shopping segment rose by about $31.3M to $361.9M, while Gaming & Entertainment, Health & Wellness, Connectivity, and Cybersecurity & Martech showed modest variations. Operating expenses climbed to around $1.29B—primarily due to higher goodwill impairments ($85.3M vs. $56.9M in 2023) and increased employee-related costs—widening losses in certain segments. Net income from continuing operations reached roughly $63.0M with basic/diluted EPS of about $1.42. Strategic acquisitions, including TDS and CNET, are expanding market reach despite integration costs. The company further extended its share repurchase program to authorize up to 15M shares and repurchased 3.5M shares for approximately $181.8M in FY 2024. Liquidity remains solid with operating cash flows near $390.3M and refinanced debt instruments (including convertible note exchanges). The report also outlines risks from competitive pressures, evolving regulatory and cybersecurity challenges, as well as exposure to interest rate and foreign exchange volatility, which continue to shape the company’s strategic outlook.