Q4 2025 Ziff Davis Inc Earnings Call Transcript
Key Points
- Ziff Davis Inc (ZD) achieved a 3.5% revenue growth for the full year 2025, despite facing headwinds in some business segments.
- The company generated almost $290 million in free cash flow for the year, deploying 60% of it in share repurchases, indicating confidence in its stock value.
- The Health & Wellness segment experienced record revenue and adjusted EBITDA growth, with an 8.6% increase in Q4 year-over-year revenues.
- Connectivity segment had a record fourth quarter with an 11% revenue increase, driven by strong growth in Speedtest, Downdetector, and RootMetrics.
- Cybersecurity & Martech revenues grew by 2.7% in Q4, with strong performance in consumer VPN and cloud backup services.
- The Tech & Shopping segment saw an 18% revenue decline in Q4, primarily due to a drop in web search traffic affecting affiliate commerce revenues.
- Adjusted EBITDA declined by 5% in Q4, reflecting challenges in maintaining profitability amidst revenue pressures.
- The Games Publishing business contributed negative net revenue, impacting the financial results and causing volatility in the Tech & Shopping segment.
- Ziff Davis Inc (ZD) expects Tech & Shopping revenues to continue declining in double digits in the first half of 2026, with only a mid-single-digit decline forecasted for the full year.
- The company has deferred issuing formal guidance for 2026 due to ongoing strategic evaluations, creating uncertainty about future performance expectations.
Good day, ladies and gentlemen, and welcome to the Ziff Davis fourth quarter and year-end 2025 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 Q4 and fiscal year 2025. As the operator mentioned, I am Bret Richter, Chief Financial Officer of Ziff Davis, and I am joined by our Chief Executive Officer, Vivek Shah.
A presentation is available for today's call. A copy of this presentation and our earnings release is available on our website, www.ziffdavis.com. You can also access the webcast from this site. When you launch the webcast, there is
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