ZIFF DAVIS, INC.
For the period ended Dec 31, 2025. Filed Mar 26, 2026.
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Dec 31, 2025 · Filed Mar 26, 2026
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Contents
APPENDIX A
Reconciliation of U.S. GAAP Financial Performance Figures to
Non-GAAP Financial Information
| Adjusted EBITDA ($, in millions) | ||
|---|---|---|
| Year ended December 31, | ||
| 2025 | 2024 | |
| Net income | 47.4 | 63.0 |
| Interest expense, net | 25.9 | 14.0 |
| Loss on sale of business | 58.0 | 3.8 |
| (Gain) loss on investment, net | (5.0) | 7.6 |
| Provision for credit losses on investments | 17.6 | — |
| Other loss (income), net | 5.9 | (5.0) |
| Income tax expense | 25.4 | 41.4 |
| Loss (income) from equity method investment, net of tax | 7.9 | (11.2) |
| Depreciation and amortization | 228.7 | 211.9 |
| Share-based compensation | 44.9 | 40.9 |
| Transaction, integration, and other charges | 17.1 | 40.4 |
| Lease asset impairments and other charges | 3.7 | 1.4 |
| Goodwill impairment | 17.6 | 85.3 |
| Adjusted EBITDA | 495.1 | 493.5 |
| Percentage change compared to prior year | 0.3% | |
| Adjusted Net Income and Adjusted Diluted EPS ($, in millions except per share data) | ||||
|---|---|---|---|---|
| Year ended December 31, | ||||
| 2025 · Per diluted share · 2024 · Per diluted share | ||||
| Net income | 47.4 | 1.15 | 63.0 | 1.42 |
| Interest, net | 0.2 | 0.01 | 0.1 | — |
| Loss on sale of business | 43.5 | 1.06 | 0.1 | — |
| (Gain) loss on investment, net | (5.0) | (0.12) | 8.0 | 0.18 |
| Provision for credit losses on investments | 17.6 | 0.42 | — | — |
| Loss (income) from equity method investment, net of tax | 7.9 | 0.19 | (11.2) | (0.25) |
| Amortization | 89.7 | 2.18 | 87.1 | 1.96 |
| Share-based compensation | 36.9 | 0.90 | 31.0 | 0.70 |
| Transaction, integration, and other charges | 13.9 | 0.34 | 30.0 | 0.67 |
| Lease asset impairments and other charges | 2.8 | 0.07 | 1.1 | 0.02 |
| Goodwill impairment | 17.6 | 0.43 | 85.3 | 1.92 |
| Adjusted Net Income | 272.5 | 6.63 | 294.5 | 6.62 |
| Percentage change compared to prior year | (7.4)% | 0.2% | ||
| Free Cash Flow ($, in millions) | ||
|---|---|---|
| Year ended December 31, | ||
| 2025 | 2024 | |
| Cash from operating activities | 407.1 | 390.3 |
| Less: Purchases of property and equipment | (119.2) | (106.6) |
| Free Cash Flow | 287.9 | 283.7 |
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