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01/11 11:49
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call reveals a reduction in revenue and EBITDA guidance, significant declines in key revenue streams, and ongoing challenges in advertising and commerce. Despite some positive seasonal expectations, the overall sentiment is negative due to the 17% revenue drop, declining audience engagement, and reduced financial outlook. The lack of positive news in the Q&A session further supports a negative sentiment. Without market cap data, the prediction leans towards a negative stock price movement, likely between -2% to -8%.
Total Revenue $46.3 million, down 17% year-over-year from $55.6 million in Q3 2024. The decline was driven by continued softness in direct sold advertising and content, a decline in affiliate bonuses from commerce partners, and a difficult comparison due to elevated engagement during the presidential election cycle in Q3 2024.
Adjusted EBITDA $753,000 compared to $8.1 million in Q3 2024, representing a significant decline. Despite this, the company remained adjusted EBITDA positive, attributed to a lean operating structure.
Advertising Revenues $22.2 million compared to $24.8 million in Q3 2024, down 11%. Direct-sold advertising declined to $5.1 million due to continued market softness.
Content Revenue $7.2 million compared to $10.7 million in Q3 2024, a decline of 33%. Direct-sold content fell by $2.6 million to $5.9 million, reflecting muted demand for branded content partnerships. Studio revenue declined modestly to $1.3 million, with a difficult comparison due to a nonrecurring data license deal in Q3 2024.
Commerce and Other Revenues $17 million compared to $20.1 million in Q3 2024, a decline of 15%. Organic affiliate commerce declined by $2.8 million to $16.8 million, primarily due to a decline in supplemental bonuses from affiliate partners like Amazon as they refined their commission methodologies.
Total U.S. Time Spent 68.5 million hours compared to 80.3 million hours in Q3 2024, a decline largely expected due to elevated news consumption during the presidential election cycle in Q3 2024. Sequentially, Time Spent was stable compared to Q2 2025.
First 9 Months Total Revenue $128.7 million compared to $133.7 million in the first 9 months of 2024, a decline of 4%. This reflects the ongoing transformation of the revenue mix, with growth in programmatic advertising and studio revenue partially offset by declines in direct sold categories.
Net Loss from Continuing Operations $30.5 million compared to $29.8 million in the same period last year.
Adjusted EBITDA Losses (First 9 Months) Improved to $3.2 million compared to losses of $5.5 million in the first 9 months of 2024, an improvement of 42%.
R&D projects: Significant progress is being made, with updates expected in the next earnings call.
Audience engagement: BuzzFeed remains #1 among Gen Z and Millennials in its competitive set, with 10.7 million hours of Time Spent in Q3, up 25% from Q2. The flagship BuzzFeed brand generated 37.2 million hours of U.S. Time Spent, growing 4% year-over-year.
Platform dependency: Reduced platform dependency as direct traffic, internal referrals, and app usage now account for 63% of buzzfeed.com traffic, up from 61% in Q2. HuffPost homepage traffic also increased, with homepage pageviews and referrals accounting for 75% of total traffic, up from 70% a year ago.
Revenue: Total revenue for Q3 2025 was $46.3 million, down 17% year-over-year due to softer advertising demand, a decline in affiliate bonuses, and tough comparisons with the 2024 presidential election cycle.
Cost discipline: Despite revenue decline, adjusted EBITDA remained positive at $753,000, reflecting a lean operating structure.
Revenue categories: Advertising revenues declined 11% to $22.2 million, content revenue fell 33% to $7.2 million, and commerce revenues dropped 15% to $17 million.
Revenue guidance: Full-year 2025 revenue guidance reduced by $10 million to $185-$195 million, reflecting Q3 softness and cautious Q4 expectations.
Strategic focus: Focus on owned distribution, scalable revenue streams, and innovation initiatives for long-term value creation.
Revenue Decline: Revenue decreased by 17% year-over-year, driven by softer advertising demand, a decline in affiliate partner bonuses, and tougher comparisons against the previous year's presidential election cycle.
Advertising Revenue: Advertising revenues fell by 11%, with direct-sold advertising declining to $5.1 million due to continued market softness.
Content Revenue: Content revenue dropped by 33%, reflecting muted demand for branded content partnerships and the absence of a nonrecurring data license deal from the prior year.
Commerce Revenue: Commerce and other revenues declined by 15%, primarily due to a $2.8 million drop in organic affiliate commerce, driven by changes in commission methodologies by affiliate partners like Amazon.
Audience Engagement: Total U.S. Time Spent across properties declined from 80.3 million hours in Q3 2024 to 68.5 million hours in Q3 2025, largely due to reduced news consumption post-election cycle.
Financial Guidance: The company reduced its full-year 2025 revenue guidance by $10 million, reflecting Q3 softness and cautious Q4 expectations.
Operational Efficiency: Adjusted EBITDA for Q3 declined significantly from $8.1 million in Q3 2024 to $753,000, despite maintaining positive adjusted EBITDA.
Studio Revenue Variability: Studio revenue showed variability due to project timing and delivery schedules, making it difficult to predict consistent performance.
Revenue Guidance: BuzzFeed has reduced its full-year 2025 revenue guidance by approximately $10 million, now expecting revenue in the range of $185 million to $195 million. This reflects softness in Q3 and a cautious approach to Q4 results.
Adjusted EBITDA Guidance: The company now expects adjusted EBITDA in the range of breakeven to $10 million for the full year 2025, reflecting near-term challenges in advertising and commerce as well as variability in studio project timing.
Seasonal Strength in Q4: BuzzFeed anticipates a step-up in Q4 performance driven by seasonal strengths in commerce and advertising, particularly during key shopping windows like Black Friday and Cyber Monday.
Long-term Strategic Focus: The company remains committed to improving net income from continuing operations and achieving adjusted EBITDA profitability for the full year. It emphasizes a strategic focus on owned distribution, scalable revenue streams, and innovation initiatives for long-term value creation.
The selected topic was not discussed during the call.
The earnings call reveals a reduction in revenue and EBITDA guidance, significant declines in key revenue streams, and ongoing challenges in advertising and commerce. Despite some positive seasonal expectations, the overall sentiment is negative due to the 17% revenue drop, declining audience engagement, and reduced financial outlook. The lack of positive news in the Q&A session further supports a negative sentiment. Without market cap data, the prediction leans towards a negative stock price movement, likely between -2% to -8%.
The earnings call reflects mixed results: revenue growth and improved EBITDA are positive, but net loss and platform dependency risks are concerning. The Q&A highlights efforts to diversify traffic sources, yet vague responses about BuzzFeed Island raise uncertainties. Despite a positive revenue outlook, challenges like seasonal dependency and muted demand for direct content persist. These factors combined suggest a neutral stock price movement in the near term.
BuzzFeed's earnings call highlights strong financial performance, with a 10% revenue increase and a swing to profitability. The strategic focus on high-margin revenues and AI integration is promising. Despite macroeconomic uncertainties, the company expects a 15% revenue growth and maintains a 10% operating margin. The Q&A reveals cautious optimism from advertisers and no significant tariff impact. While some guidance was unclear, the overall outlook is positive, reflecting in improved cash flow and reduced debt. The market is likely to react positively, with a stock price increase of 2% to 8% expected.
The earnings call presents a mixed picture: financial performance shows improvement in programmatic advertising and reduced losses, but overall revenue declined. The absence of a shareholder return plan and lack of clear cash flow guidance create uncertainty. Positive factors include AI integration and reduced debt, but economic and regulatory risks loom. Despite optimistic guidance, the market's cautious stance due to macroeconomic conditions and competitive pressures tempers expectations, suggesting a neutral stock price movement.
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