IAC Reports Q4 2022 Results

IAC (NASDAQ: IAC) released its fourth quarter results today and separately posted a letter to shareholders from IAC CEO Joey Levin on the Investor Relations section of its website at ir.iac.com.

Q4 2022 Highlights:

  • Angi Inc. revenue increased 6% year-over-year to $442 million, operating loss increased to $60 million (compared to a loss of $29 million in Q4 2021) and Adjusted EBITDA increased to $16 million (compared to a loss of $3 million in Q4 2021).
  • Dotdash Meredith Digital revenue was $260 million and Print revenue was $224 million. Pro Forma revenue decreased 26% due to 14% Digital declines and 36% Print declines. o Operating loss of $9 million and Adjusted EBITDA of $73 million in Q4 2022 reflect $21 million of restructuring charges and transaction-related items
    *Emerging & Other revenue decreased 16% year-over-year to $177 million, operating income increased 583% to $8 million and Adjusted EBITDA increased 2% to $12 million. Q4 revenue reflects: o The sale of Bluecrew on November 9, 2022, and 34% lower IAC Films revenue o 53% growth from Vivian Health and 3% growth from Care.com
    details at: https://ir.iac.com/static-files/d116849f-0b7b-44fd-bd4b-edd2a8bd9281
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