People Inc

Current report (Form 8-K) · Jun 2, 2026 · Investor press release · Financial statements

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PPLI

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Investor press release

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Jun 2, 2026

Overview Analysis Documents(7)Full text Exhibits(1)

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EX-99.1

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ex-991xsupplementalfinanci.htm

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EX-99.1 · ex-991xsupplementalfinanci.htm EX-99.1 2 ex-991xsupplementalfinanci.htm EX-99.1 Exhibit 99.1 The tables below reflect IAC on a continuing operations basis, updated to reflect the Search segment as discontinued operations for periods prior to operations ceasing in connection with the expiration of the Google Services Agreement on April 30, 2026 as described in Item 7.01 of this Form 8-K. The information presented below should be read in conjunction with IAC Inc.'s historical consolidated financial statements and notes thereto found on the U.S. Securities and Exchange Commission's website at http://www.sec.gov. 2024 2025 2026 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1 (Unaudited; in thousands) Revenue People Inc. Digital $ 1,086,367 $ 234,520 $ 273,999 $ 283,167 $ 370,200 $ 1,161,886 $ 253,223 Print 711,636 163,270 158,263 152,594 148,178 622,305 137,837 Intersegment eliminations (20,774) (4,719) (4,892) (5,934) (6,573) (22,118) (5,331) Total People Inc. 1,777,229 393,071 427,370 429,827 511,805 1,762,073 385,729 Emerging & Other 89,028 18,287 15,877 17,288 19,551 71,003 20,078 Intersegment eliminations (1,218) (1) — — (1) (2) (10) Total revenue $ 1,865,039 $ 411,357 $ 443,247 $ 447,115 $ 531,355 $ 1,833,074 $ 405,797 Operating income (loss) People Inc. Digital (a) $ 154,367 $ 17,876 $ 38,371 $ 38,434 $ 113,305 $ 207,986 $ 27,827 Print (b) 17,059 8,744 10,905 1,016 6,769 27,434 1,744 Other (c)(d) (64,552) 16,587 (14,497) (10,917) (14,034) (22,861) (19,166) Total People Inc. 106,874 43,207 34,779 28,533 106,040 212,559 10,405 Emerging & Other (e) (37,695) (4,886) (9,221) (20,797) 2,552 (32,352) 2,871 Corporate (f) (144,284) (17,218) (33,050) (34,981) (31,066) (116,315) (45,092) Total operating (loss) income $ (75,105) $ 21,103 $ (7,492) $ (27,245) $ 77,526 $ 63,892 $ (31,816) Stock-based compensation expense People Inc. Digital $ (10,097) $ (1,855) $ (3,034) $ (3,211) $ (3,464) $ (11,564) $ (2,922) Print (2,045) (450) (442) (451) (430) (1,773) (238) Other (c) (13,683) (3,188) (3,727) (4,060) (4,102) (15,077) (5,530) Total People Inc. (25,825) (5,493) (7,203) (7,722) (7,996) (28,414) (8,690) Emerging & Other (1,626) (345) (2,874) (743) (602) (4,564) (1,335) Corporate (45,708) 27,228 (8,233) (7,412) (6,509) 5,074 (6,387) Total stock-based compensation expense $ (73,159) $ 21,390 $ (18,310) $ (15,877) $ (15,107) $ (27,904) $ (16,412) 1 2024 2025 2026 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1 (Unaudited; in thousands) Depreciation People Inc. Digital $ (15,943) $ (3,074) $ (3,167) $ (4,428) $ (3,933) $ (14,602) $ (3,587) Print (7,258) (1,393) (1,403) (1,237) (1,104) (5,137) (927) Other (c) (3,103) (4,706) (651) (525) (1,274) (7,156) (854) Total People Inc. (26,304) (9,173) (5,221) (6,190) (6,311) (26,895) (5,368) Emerging & Other (65) (23) (9) (8) (9) (49) (8) Corporate (8,408) (2,045) (2,038) (2,037) (1,935) (8,055) (1,938) Total depreciation $ (34,777) $ (11,241) $ (7,268) $ (8,235) $ (8,255) $ (34,999) $ (7,314) Amortization of intangibles People Inc. Digital $ (116,542) $ (18,724) $ (18,723) $ (18,826) $ (18,235) $ (74,508) $ (15,576) Print (19,875) (3,694) (3,695) (3,695) (3,617) (14,701) (3,464) Other (c) — — — — — — — Total People Inc. (136,417) (22,418) (22,418) (22,521) (21,852) (89,209) (19,040) Emerging & Other (9) — — — — — — Corporate — — — — — — — Total amortization of intangibles $ (136,426) $ (22,418) $ (22,418) $ (22,521) $ (21,852) $ (89,209) $ (19,040) Adjusted EBITDA (g) People Inc. Digital (a) $ 296,949 $ 41,529 $ 63,295 $ 64,899 $ 138,937 $ 308,660 $ 49,912 Print (b) 46,237 14,281 16,445 6,399 11,920 49,045 6,373 Other (c)(d) (47,766) 24,481 (10,119) (6,332) (8,658) (628) (12,782) Total People Inc. 295,420 80,291 69,621 64,966 142,199 357,077 43,503 Emerging & Other (e) (35,995) (4,518) (6,338) (20,046) 3,163 (27,739) 4,214 Corporate (f) (90,168) (42,401) (22,779) (25,532) (22,622) (113,334) (36,767) Total Adjusted EBITDA $ 169,257 $ 33,372 $ 40,504 $ 19,388 $ 122,740 $ 216,004 $ 10,950 2 The following table reconciles net (loss) earnings attributable to IAC shareholders to operating (loss) income to Adjusted EBITDA: 2024 2025 2026 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1 (Unaudited; in thousands) Net (loss) earnings attributable to IAC shareholders $ (539,897) $ (216,805) $ 211,452 $ (21,879) $ (76,794) $ (104,026) $ (71,882) Add back: Net earnings (loss) attributable to noncontrolling interest 6,567 2,237 (819) 142 996 2,556 1,212 (Earnings) loss from discontinued operations, net of income taxes (h)(i)(j) (78,504) (34,509) (19,419) (31,007) 237,502 152,567 (4,455) Loss on sale of Care.com, net of income taxes — — — — — — 75,643 Income tax (benefit) provision (149,941) (74,767) 74,360 (3,108) 31,594 28,079 (10,109) Other (income) expense, net (98,227) (7,632) (2,796) 18,447 (24,155) (16,136) (14,078) Unrealized loss (gain) on investment in MGM Resorts International 649,178 324,265 (307,437) (17,476) (118,527) (119,175) (34,005) Interest expense 135,719 28,314 37,167 27,636 26,910 120,027 25,858 Operating (loss) income (75,105) 21,103 (7,492) (27,245) 77,526 63,892 (31,816) Add back: Stock-based compensation expense 73,159 (21,390) 18,310 15,877 15,107 27,904 16,412 Depreciation 34,777 11,241 7,268 8,235 8,255 34,999 7,314 Amortization of intangibles 136,426 22,418 22,418 22,521 21,852 89,209 19,040 Adjusted EBITDA $ 169,257 $ 33,372 $ 40,504 $ 19,388 $ 122,740 $ 216,004 $ 10,950 (a) The third quarter of 2025 operating income of $38.4 million and Adjusted EBITDA of $64.9 million at People Inc. Digital include $8.3 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities. (b) The third quarter of 2025 operating income of $1.0 million and Adjusted EBITDA of $6.4 million at People Inc. Print include $5.8 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities. (c) Other comprises unallocated corporate costs. (d) The first quarter of 2025 operating income of $16.6 million and Adjusted EBITDA of $24.5 million at People Inc. Other include a net gain of $36.2 million related to certain unoccupied office space. The third quarter of 2025 operating loss of $10.9 million and Adjusted EBITDA loss of $6.3 million at People Inc. Other include a net gain of $5.2 million related to an amendment of a lease, which provided for the surrender of certain office space early, partially offset by $1.0 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities. (e) The third quarter of 2025 operating loss of $20.8 million and Adjusted EBITDA loss of $20.0 million at Emerging & Other include $21.4 million of legal fees and settlement expenses for litigation that concluded in the third quarter of 2025 related to a legacy business. (f) The first quarter of 2026 operating loss of $45.1 million and Adjusted EBITDA loss of $36.8 million at Corporate include $10.3 million of severance-related costs driven by a reduction in workforce as IAC Corporate consolidates its corporate functions with those of People Inc. (g) Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets, if applicable, and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements, if applicable. We believe this measure is useful for investors and analysts as this measure allows a more meaningful comparison between our performance and that of our competitors. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses. (h) On March 31, 2025, IAC completed the spin-off of Angi, including Roofing, by means of a special dividend (the "Distribution") of all shares of Angi capital stock held by IAC to holders of its common stock and Class B common stock. As a result of the Distribution, IAC no longer owns any shares of Angi's capital stock and Angi became an independent public company. The operations of Angi are presented as discontinued operations within IAC's consolidated financial statements for all periods prior to March 31, 2025. 3 (i) On March 16, 2026, IAC completed the sale of Care.com. As a result of the sale, the operations of Care.com are presented as discontinued operations within IAC’s consolidated financial statements for all periods presented above. (j) The operations of the Search segment are presented as discontinued operations within IAC’s consolidated financial statements for all periods prior to operations ceasing in connection with the expiration of the Google Services Agreement on April 30, 2026. 4

Document text

EX-99.1 · ex-991xsupplementalfinanci.htm

EX-99.1
 2
 ex-991xsupplementalfinanci.htm
 EX-99.1

                                                                         

 Exhibit 99.1
 The tables below reflect IAC on a continuing operations basis, updated to reflect the Search segment as discontinued operations for periods prior to operations ceasing in connection with the expiration of the Google Services Agreement on April 30, 2026 as described in Item 7.01 of this Form 8-K. The information presented below should be read in conjunction with IAC Inc.'s historical consolidated financial statements and notes thereto found on the U.S. Securities and Exchange Commission's website at http://www.sec.gov.

 2024 2025 2026
 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1
 (Unaudited; in thousands)
 Revenue
 People Inc.
 Digital $ 1,086,367  $ 234,520  $ 273,999  $ 283,167  $ 370,200  $ 1,161,886  $ 253,223 
 Print 711,636  163,270  158,263  152,594  148,178  622,305  137,837 
 Intersegment eliminations (20,774) (4,719) (4,892) (5,934) (6,573) (22,118) (5,331)
 Total People Inc. 1,777,229  393,071  427,370  429,827  511,805  1,762,073  385,729 
 Emerging & Other 89,028  18,287  15,877  17,288  19,551  71,003  20,078 
 Intersegment eliminations (1,218) (1) —  —  (1) (2) (10)
 Total revenue $ 1,865,039  $ 411,357  $ 443,247  $ 447,115  $ 531,355  $ 1,833,074  $ 405,797 

 Operating income (loss)
 People Inc.
 Digital (a)
 $ 154,367  $ 17,876  $ 38,371  $ 38,434  $ 113,305  $ 207,986  $ 27,827 
 Print (b)
 17,059  8,744  10,905  1,016  6,769  27,434  1,744 
 Other (c)(d)
 (64,552) 16,587  (14,497) (10,917) (14,034) (22,861) (19,166)
 Total People Inc. 106,874  43,207  34,779  28,533  106,040  212,559  10,405 
 Emerging & Other (e)
 (37,695) (4,886) (9,221) (20,797) 2,552  (32,352) 2,871 
 Corporate (f)
 (144,284) (17,218) (33,050) (34,981) (31,066) (116,315) (45,092)
 Total operating (loss) income $ (75,105) $ 21,103  $ (7,492) $ (27,245) $ 77,526  $ 63,892  $ (31,816)

 Stock-based compensation expense
 People Inc.
 Digital $ (10,097) $ (1,855) $ (3,034) $ (3,211) $ (3,464) $ (11,564) $ (2,922)
 Print (2,045) (450) (442) (451) (430) (1,773) (238)
 Other (c)
 (13,683) (3,188) (3,727) (4,060) (4,102) (15,077) (5,530)
 Total People Inc. (25,825) (5,493) (7,203) (7,722) (7,996) (28,414) (8,690)
 Emerging & Other (1,626) (345) (2,874) (743) (602) (4,564) (1,335)
 Corporate (45,708) 27,228  (8,233) (7,412) (6,509) 5,074  (6,387)
 Total stock-based compensation expense $ (73,159) $ 21,390  $ (18,310) $ (15,877) $ (15,107) $ (27,904) $ (16,412)

 1

 2024 2025 2026
 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1
 (Unaudited; in thousands)
 Depreciation
 People Inc.
 Digital $ (15,943) $ (3,074) $ (3,167) $ (4,428) $ (3,933) $ (14,602) $ (3,587)
 Print (7,258) (1,393) (1,403) (1,237) (1,104) (5,137) (927)
 Other (c)
 (3,103) (4,706) (651) (525) (1,274) (7,156) (854)
 Total People Inc. (26,304) (9,173) (5,221) (6,190) (6,311) (26,895) (5,368)
 Emerging & Other (65) (23) (9) (8) (9) (49) (8)
 Corporate (8,408) (2,045) (2,038) (2,037) (1,935) (8,055) (1,938)
 Total depreciation $ (34,777) $ (11,241) $ (7,268) $ (8,235) $ (8,255) $ (34,999) $ (7,314)

 Amortization of intangibles
 People Inc.
 Digital $ (116,542) $ (18,724) $ (18,723) $ (18,826) $ (18,235) $ (74,508) $ (15,576)
 Print (19,875) (3,694) (3,695) (3,695) (3,617) (14,701) (3,464)
 Other (c)
 —  —  —  —  —  —  — 
 Total People Inc. (136,417) (22,418) (22,418) (22,521) (21,852) (89,209) (19,040)
 Emerging & Other (9) —  —  —  —  —  — 
 Corporate —  —  —  —  —  —  — 
 Total amortization of intangibles $ (136,426) $ (22,418) $ (22,418) $ (22,521) $ (21,852) $ (89,209) $ (19,040)

 Adjusted EBITDA (g)

 People Inc.
 Digital (a)
 $ 296,949  $ 41,529  $ 63,295  $ 64,899  $ 138,937  $ 308,660  $ 49,912 
 Print (b)
 46,237  14,281  16,445  6,399  11,920  49,045  6,373 
 Other (c)(d)
 (47,766) 24,481  (10,119) (6,332) (8,658) (628) (12,782)
 Total People Inc. 295,420  80,291  69,621  64,966  142,199  357,077  43,503 
 Emerging & Other (e)
 (35,995) (4,518) (6,338) (20,046) 3,163  (27,739) 4,214 
 Corporate (f)
 (90,168) (42,401) (22,779) (25,532) (22,622) (113,334) (36,767)
 Total Adjusted EBITDA $ 169,257  $ 33,372  $ 40,504  $ 19,388  $ 122,740  $ 216,004  $ 10,950 

 2

 The following table reconciles net (loss) earnings attributable to IAC shareholders to operating (loss) income to Adjusted EBITDA:

 2024 2025 2026
 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1
 (Unaudited; in thousands)
 Net (loss) earnings attributable to IAC shareholders $ (539,897) $ (216,805) $ 211,452  $ (21,879) $ (76,794) $ (104,026) $ (71,882)
 Add back:
 Net earnings (loss) attributable to noncontrolling interest 6,567  2,237  (819) 142  996  2,556  1,212 
 (Earnings) loss from discontinued operations, net of income taxes (h)(i)(j)
 (78,504) (34,509) (19,419) (31,007) 237,502  152,567  (4,455)
 Loss on sale of Care.com, net of income taxes —  —  —  —  —  —  75,643 
 Income tax (benefit) provision (149,941) (74,767) 74,360  (3,108) 31,594  28,079  (10,109)
 Other (income) expense, net (98,227) (7,632) (2,796) 18,447  (24,155) (16,136) (14,078)
 Unrealized loss (gain) on investment in MGM Resorts International 649,178  324,265  (307,437) (17,476) (118,527) (119,175) (34,005)
 Interest expense 135,719  28,314  37,167  27,636  26,910  120,027  25,858 
 Operating (loss) income (75,105) 21,103  (7,492) (27,245) 77,526  63,892  (31,816)
 Add back:
 Stock-based compensation expense 73,159  (21,390) 18,310  15,877  15,107  27,904  16,412 
 Depreciation 34,777  11,241  7,268  8,235  8,255  34,999  7,314 
 Amortization of intangibles 136,426  22,418  22,418  22,521  21,852  89,209  19,040 

 Adjusted EBITDA $ 169,257  $ 33,372  $ 40,504  $ 19,388  $ 122,740  $ 216,004  $ 10,950 

 (a) The third quarter of 2025 operating income of $38.4 million and Adjusted EBITDA of $64.9 million at People Inc. Digital include $8.3 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.

 (b) The third quarter of 2025 operating income of $1.0 million and Adjusted EBITDA of $6.4 million at People Inc. Print include $5.8 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.

 (c) Other comprises unallocated corporate costs.
 (d) The first quarter of 2025 operating income of $16.6 million and Adjusted EBITDA of $24.5 million at People Inc. Other include a net gain of $36.2 million related to certain unoccupied office space. The third quarter of 2025 operating loss of $10.9 million and Adjusted EBITDA loss of $6.3 million at People Inc. Other include a net gain of $5.2 million related to an amendment of a lease, which provided for the surrender of certain office space early, partially offset by $1.0 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.
 (e) The third quarter of 2025 operating loss of $20.8 million and Adjusted EBITDA loss of $20.0 million at Emerging & Other include $21.4 million of legal fees and settlement expenses for litigation that concluded in the third quarter of 2025 related to a legacy business.

 (f) The first quarter of 2026 operating loss of $45.1 million and Adjusted EBITDA loss of $36.8 million at Corporate include $10.3 million of severance-related costs driven by a reduction in workforce as IAC Corporate consolidates its corporate functions with those of People Inc.
 (g) Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets, if applicable, and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements, if applicable. We believe this measure is useful for investors and analysts as this measure allows a more meaningful comparison between our performance and that of our competitors. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.
 (h) On March 31, 2025, IAC completed the spin-off of Angi, including Roofing, by means of a special dividend (the "Distribution") of all shares of Angi capital stock held by IAC to holders of its common stock and Class B common stock. As a result of the Distribution, IAC no longer owns any shares of Angi's capital stock and Angi became an independent public company. The operations of Angi are presented as discontinued operations within IAC's consolidated financial statements for all periods prior to March 31, 2025.
 3

 (i) On March 16, 2026, IAC completed the sale of Care.com. As a result of the sale, the operations of Care.com are presented as discontinued operations within IAC’s consolidated financial statements for all periods presented above.
 (j) The operations of the Search segment are presented as discontinued operations within IAC’s consolidated financial statements for all periods prior to operations ceasing in connection with the expiration of the Google Services Agreement on April 30, 2026.
 4

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