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Ziff Davis Reports First Quarter 2025 Financial Results and Reaffirms 2025 Guidance
NEW YORK--(BUSINESS WIRE)-- Ziff Davis, Inc. (NASDAQ: ZD) (“Ziff Davis” or “the Company”) today reported unaudited financial results for the first quarter
About this update from Ziff Davis, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nZiff Davis, Inc. (NASDAQ: ZD) (“Ziff Davis” or “the Company”) today reported unaudited financial results for the first quarter ended March 31, 2025.\n\n“We are pleased with our overall first quarter performance, which surpassed our internal targets,” said Vivek Shah, Chief Executive Officer of Ziff Davis. “The combination of accelerating revenue growth, a healthy M&A cadence, and our active share buyback program has us optimistic about our prospects for the balance of the year.”\n\nFIRST QUARTER 2025 RESULTS\n\n\nQ1 2025 quarterly revenues increased 4.5% to $328.6 million compared to $314.5 million for Q1 2024.\n\n\n\nIncome from operations decreased to $35.1 million compared to $35.9 million for Q1 2024.\n\n\n\nNet income (1) increased 128.1% to $24.2 million compared to $10.6 million for Q1 2024.\n\n\n\nNet income per diluted share (1) increased to $0.56 in Q1 2025 compared to $0.23 for Q1 2024.\n\n\n\nAdjusted EBITDA (2) for the quarter decreased to $100.2 million compared to $100.8 million for Q1 2024.\n\n\n\nAdjusted net income (2) decreased to $48.9 million compared to $58.5 million for Q1 2024.\n\n\n\nAdjusted net income per diluted share (1)(2) (or “Adjusted diluted EPS”) for the quarter decreased to $1.14 compared to $1.27 for Q1 2024.\n\n\n\nNet cash provided by operating activities was $20.6 million in Q1 2025 compared to $75.6 million in Q1 2024. Free cash flow (2) was $(5.0) million in Q1 2025 compared to $47.4 million in Q1 2024. The decrease reflects the significant working capital usage by TDS Gift Cards during the first quarter.\n\n\n\nZiff Davis deployed approximately $39.2 million for current and prior year acquisitions during the quarter and $34.9 million related to share repurchases in Q1 2025.\n\n\nThe following table reflects results for the three months ended March 31, 2025 and 2024, respectively (in millions, except per share amounts).\n\n\n\n(Unaudited)\n\n\n\nThree months ended March 31,\n\n\n\n% Change\n\n\n\n\n\n2025\n\n\n\n2024\n\n\n\n\n\nRevenues (4)\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nTechnology & Shopping\n\n\n\n$81.7\n\n\n\n$69.3\n\n\n\n17.9%\n\n\n\n\n\nGaming & Entertainment\n\n\n\n$38.0\n\n\n\n$36.6\n\n\n\n3.8%\n\n\n\n\n\nHealth & Wellness\n\n\n\n$85.8\n\n\n\n$80.0\n\n\n\n7.3%\n\n\n\n\n\nConnectivity\n\n\n\n$55.8\n\n\n\n$53.1\n\n\n\n5.0%\n\n\n\n\n\nCybersecurity...