IAC Inc. reported a decline in financial performance for the third quarter of 2025, with total revenue of $589.8 million, down 8% from $642.0 million in the same period last year. The company's net loss attributable to shareholders was $21.9 million, or a loss of $0.27 per share, compared to a loss of $243.7 million, or $2.93 per share, in the prior year. The decrease in revenue was primarily driven by a significant drop in Search revenue, which fell 41% to $51.9 million, and a 5% decline in Care.com revenue. In contrast, Digital revenue within People Inc. increased by 9% to $269.0 million, reflecting growth in performance marketing and licensing revenue.
IAC's financial position showed a notable decrease in total assets, which fell to $7.2 billion from $9.7 billion at the end of 2024. Cash and cash equivalents also decreased to $1.0 billion from $1.4 billion. The company’s long-term debt stood at approximately $1.4 billion, with a current portion of $22.8 million. The reduction in cash and total assets was attributed to the spin-off of Angi Inc. in March 2025, which resulted in the reclassification of Angi's operations as discontinued.
Strategically, IAC has focused on optimizing its portfolio, particularly in its Print segment, which saw a 15% revenue decline due to reduced subscription and advertising revenue. The company has also made significant changes in its operational structure, including headcount reductions aimed at aligning its workforce with strategic growth priorities. These adjustments contributed to a decrease in general and administrative expenses, although they were offset by increased legal fees and severance costs.
Looking ahead, IAC anticipates continued challenges in its Search segment due to ongoing changes in Google's algorithms and policies, which have impacted traffic and revenue. The company is also navigating a competitive landscape influenced by advancements in artificial intelligence. Despite these challenges, IAC remains committed to leveraging its digital assets and optimizing its operations to drive future growth. The company expects to maintain sufficient liquidity to support its operations and capital expenditures in the coming year.
About IAC Inc.
IAC is a diversified internet company owning leading digital media, e-commerce, and service platforms. Its core segments include Dotdash Meredith, a major publisher of digital and print content; Angi, a home services marketplace connecting consumers with professionals; and Care.com, a platform for caregiving services. The company generates revenue through advertising, subscriptions, transaction fees, and licensing, serving millions of consumers and professionals across various categories and markets.
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