ZIFF DAVIS INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
ZD$51.14+1.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
| Three months ended March 31, | ||
|---|---|---|
| Cash flows from operating activities: | 2024 | 2023 |
| Net income (loss) | $10,627 | $(7,627) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 48,453 | 54,623 |
| Non-cash operating lease costs | 2,770 | 2,933 |
| Share-based compensation | 8,872 | 8,402 |
| Provision for credit losses on accounts receivable | 50 | 441 |
| Deferred income taxes, net | (2,709) | (7,442) |
| Loss on sale of businesses | 3,780 | — |
| Loss from equity method investments | 645 | 9,182 |
| Unrealized loss on short-term investments held at the reporting date, net | 10,705 | 20,345 |
| Gain on investments, net | — | (357) |
| Other | 1,278 | 2,776 |
| Decrease (increase) in: | ||
| Accounts receivable | 55,365 | 27,626 |
| Prepaid expenses and other current assets | (9,423) | (7,658) |
| Other assets | (2,078) | (2,048) |
| Increase (decrease) in: | ||
| Accounts payable | (62,270) | 6,922 |
| Deferred revenue | 15,169 | 12,085 |
| Accrued liabilities and other current liabilities | (5,676) | (4,896) |
| Net cash provided by operating activities | 75,558 | 115,307 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (28,129) | (30,017) |
| Acquisition of businesses, net of cash received | (44,524) | (8,001) |
| Proceeds from sale of equity investments | — | 3,174 |
| Proceeds from sale of businesses, net of cash divested | 1,238 | — |
| Other | (66) | (3,947) |
| Net cash used in investing activities | (71,481) | (38,791) |
| Cash flows from financing activities: | ||
| Repurchase of common stock | (3,923) | (2,875) |
| Deferred payments for acquisitions | (2,418) | (6,679) |
| Other | 30 | 71 |
| Net cash used in financing activities | (6,311) | (9,483) |
| Effect of exchange rate changes on cash and cash equivalents | (599) | 1,676 |
| Net change in cash and cash equivalents | (2,833) | 68,709 |
| Cash and cash equivalents at beginning of period | 737,612 | 652,793 |
| Cash and cash equivalents at end of period | $734,779 | $721,502 |
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