IAC Inc.
For the period ended Jun 30, 2025. Filed Aug 4, 2025.
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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.
Jun 30, 2025 · Filed Aug 4, 2025
PPLI$42.08+2.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Operations
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (In thousands, except per share data) | ||||
| Revenue | $586,928 | $634,393 | $1,157,417 | $1,258,683 |
| Operating costs and expenses: | ||||
| Cost of revenue (exclusive of depreciation shown separately below) | 201,971 | 253,351 | 407,254 | 512,818 |
| Selling and marketing expense | 185,825 | 177,311 | 366,739 | 365,388 |
| General and administrative expense | 117,343 | 126,006 | 180,167 | 253,478 |
| Product development expense | 49,826 | 53,380 | 100,039 | 116,623 |
| Depreciation | 7,980 | 9,124 | 19,926 | 21,848 |
| Amortization of intangibles | 23,408 | 36,710 | 46,941 | 73,438 |
| Total operating costs and expenses | 586,353 | 655,882 | 1,121,066 | 1,343,593 |
| Operating income (loss) | 575 | (21,489) | 36,351 | (84,910) |
| Interest expense | (37,167) | (34,474) | (65,481) | (69,154) |
| Unrealized gain (loss) on investment in MGM Resorts International | 307,437 | (179,284) | (16,828) | (15,533) |
| Other income, net | 2,828 | 50,123 | 10,516 | 80,444 |
| Earnings (loss) from continuing operations before income taxes | 273,673 | (185,124) | (35,442) | (89,153) |
| Income tax (provision) benefit | (63,040) | 40,432 | 16,194 | (6,095) |
| Net earnings (loss) from continuing operations | 210,633 | (144,692) | (19,248) | (95,248) |
| Earnings (loss) from discontinued operations, net of tax | — | 3,225 | 15,313 | (1,247) |
| Net earnings (loss) | 210,633 | (141,467) | (3,935) | (96,495) |
| Net loss (earnings) attributable to noncontrolling interests | 819 | (765) | (1,418) | (706) |
| Net earnings (loss) attributable to IAC shareholders | $211,452 | $(142,232) | $(5,353) | $(97,201) |
| Per share information from continuing operations: | ||||
| Basic earnings (loss) per share | $2.64 | $(1.74) | $(0.23) | $(1.14) |
| Diluted earnings (loss) per share | $2.57 | $(1.74) | $(0.23) | $(1.14) |
| Per share information attributable to IAC common stock and Class B common stock shareholders: | ||||
| Basic earnings (loss) per share | $2.64 | $(1.71) | $(0.07) | $(1.17) |
| Diluted earnings (loss) per share | $2.57 | $(1.71) | $(0.07) | $(1.17) |
| Stock-based compensation expense by function: | ||||
| Cost of revenue | $442 | $760 | $781 | $1,253 |
| Selling and marketing expense | 1,054 | 1,227 | 1,825 | 1,636 |
| General and administrative expense | 16,931 | 17,308 | (5,122) | 35,069 |
| Product development expense | 1,048 | 1,132 | 1,591 | 1,979 |
| Total stock-based compensation expense | $19,475 | $20,427 | $(925) | $39,937 |
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