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Sep 30, 2024
Ziff Davis Q3 2024 Earnings Report
Ziff Davis's third quarter results reflected revenue growth and increased profitability, but also a net loss due to goodwill impairment.
Key Takeaways
Ziff Davis reported a 3.7% increase in revenue to $353.6 million for Q3 2024, with adjusted EBITDA up 9.6% to $124.7 million. However, the company experienced a net loss of $48.6 million, primarily due to an $85.3 million goodwill impairment. The company reaffirms its guidance for fiscal year 2024.
Q3 2024 revenues increased by 3.7% year-over-year to $353.6 million.
Adjusted EBITDA for Q3 2024 increased by 9.6% year-over-year to $124.7 million.
Net loss for Q3 2024 was $48.6 million, impacted by an $85.3 million goodwill impairment.
Free cash flow for Q3 2024 was $80.1 million, compared to $45.6 million in Q3 2023.
Ziff Davis
Ziff Davis
Ziff Davis Revenue by Segment
Revenue by Segment
Technology & Shopping Revenue
CapyFin.comGaming & Entertainment Revenue
CapyFin.comHealth & Wellness Revenue
CapyFin.comConnectivity Revenue
CapyFin.comCybersecurity & Martech Revenue
CapyFin.com Forward Guidance
The Company reaffirms its guidance for fiscal year 2024.
Positive Outlook
- Revenue: $1,411.0 to $1,471.0 million
- Adjusted EBITDA: $500.0 to $521.0 million
- Adjusted diluted EPS: $6.43 to $6.77
- Adjusted diluted EPS excludes amortization of acquired intangibles and the impact of any currently unanticipated items, in each case net of tax.
- It is anticipated that the Adjusted effective tax rate for 2024 will be between 23.25% and 25.25%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income