Q3 2024 Ziff Davis Inc Earnings Call Transcript
Key Points
- Ziff Davis Inc (ZD) reported a 3.7% increase in total revenue and a 9.6% growth in adjusted EBITDA for Q3 2024, marking it as the best quarter of the year.
- The Digital Media segment saw nearly 6% revenue growth and over 14% growth in adjusted EBITDA, with all digital media verticals experiencing growth.
- The company successfully closed the acquisition of CNET, enhancing its portfolio of technology brands and positioning it as a leader in technology publishing.
- Ziff Davis Inc (ZD) repurchased 2 million shares of its common stock in Q3, reflecting a strong commitment to shareholder value.
- The company launched several AI-driven products across key verticals, enhancing capabilities in areas such as cybersecurity and health and wellness.
- The cybersecurity and martech segments experienced a revenue decline of over 4%, with challenges in the Moz SEO business due to a softening in new customer acquisition.
- B2B technology business faced a year-over-year decline, impacting overall growth rates.
- Organic revenue declined by less than 2% in Q3 2024, indicating challenges in achieving organic growth.
- The Moz Group faced softness in new customer acquisition, partly due to confusion around AI and search, impacting growth in the SEO segment.
- Despite improvements, the company is still a few quarters away from achieving positive growth in the cybersecurity segment.
Good day, ladies and gentlemen, and welcome to the Ziff Davis third quarter 2024 Earnings Conference Call. My name is Tom, and I will be the operator assisting you today.
(Operator Instructions) On this call will be Vivek Shah, CEO of Ziff Davis; and Bret Richter, Chief Financial Officer of Ziff Davis. I will now turn the call over to Bret Richter, Chief Financial Officer of Ziff Davis. Thank you. You may begin.
Thank you. Good morning, everyone, and welcome to the Ziff Davis Investor Conference Call for Q3 2024. As the operator mentioned, I am Bret Richter, Chief Financial Officer of Ziff Davis and I'm joined by our Chief Executive Officer, Vivek Shah.
A presentation is available for today's call. A copy of this presentation is available on our website. When you launch the webcast, there is a button on the viewer on the right-hand side, which will allow you to expand the slides. If you have not received a copy of the press release, you may access it through our corporate website at
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