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NEW YORK, May 07, 2026--(BUSINESS WIRE)--Ziff Davis, Inc. (NASDAQ: ZD) ("Ziff Davis" or "the Company") today reported unaudited financial results for the first quarter ended March 31, 2026.

"We remain focused on unlocking value for our shareholders as we look to complete the divestiture of the Connectivity business as well as explore additional value-creating transactions," said Vivek Shah, CEO of Ziff Davis. "Our first quarter results demonstrate the strength of many of our businesses while we manage through the headwinds challenging other parts of our portfolio."

FIRST QUARTER 2026 RESULTS

During the first quarter of 2026, the Company entered into a definitive agreement to sell its Connectivity business. The results of the Connectivity business are classified as discontinued operations for all periods presented in this press release. Unless otherwise noted, all amounts, percentages, and any discussion in this press release reflect the results from continuing operations, except for the Statements of Cash Flows and Free cash flow, which are presented on a combined continuing and discontinued operations basis. Furthermore, upon the classification of Connectivity as discontinued operation, the Company determined that Connectivity is no longer a reportable segment. The Company will continue to own and operate the Connectivity business in the ordinary course until the closing of the transaction.

• Revenues (1) decreased to $267.6 million compared to $272.8 million for Q1 2025.

• Operating income decreased to $2.9 million compared to $14.5 million for Q1 2025.

• Net (loss) income from continuing operations (2) decreased to $(0.8) million compared to $9.8 million for Q1 2025.

• Net (loss) income per diluted share from continuing operations (2) decreased to $(0.02) compared to $0.23 for Q1 2025.

• Adjusted EBITDA (3) decreased to $63.4 million compared to $71.4 million for Q1 2025.

• Adjusted net income (2) (3) decreased to $27.5 million compared to $33.0 million for Q1 2025.

• Adjusted net income per diluted share (2) (3) (or "Adjusted diluted EPS") decreased to $0.73 compared to $0.77 for Q1 2025.

• Net cash provided by operating activities from continuing and discontinued operations increased 45.3% to $30.0 million compared to $20.6 million in Q1 2025. Free cash flow from continuing and discontinued operations (3) increased 36.6% to $(3.2) million compared to $(5.0) million in Q1 2025.

• Ziff Davis deployed approximately $51.6 million related to share repurchases in Q1 2026.

The following table reflects results from continuing operations, except for Net cash provided by operating activities and Free cash flow which are on combined basis of continuing and discontinued operations, for the three months ended March 31, 2026 and 2025, respectively (in millions, except per share amounts).