8-K
filed May 10, 2023, 7:59 PM ET
ticker ZD
CIK 0001084048
earnings
confidence high
sentiment negative
materiality 0.65
Ziff Davis Q1 revenue down 2.5% to $307.1M, net loss of $7.6M, reaffirms 2023 guidance
ZIFF DAVIS, INC.
2023-Q1 EPS reported
-$0.16
revenue$307,142,000
- Revenue $307.1M, down 2.5% YoY; Digital Media flat, Cybersecurity and Martech down 9.2%.
- Net loss of $7.6M vs net income $24.5M last year, driven by unrealized investment losses.
- Adjusted EBITDA $94.3M (-6.4%), adjusted diluted EPS $1.10 (-10.6%).
- Free cash flow $85.3M (nearly flat); cash and investments $876.6M.
- Reaffirmed FY2023 guidance; CEO cites incremental improvements in several businesses.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.98
ZIFF DAVIS, INC. reported first quarter ended March 31, 2023 results: revenue $307.1 million, net income $(7.6) million, EPS $(0.16) per diluted share. Guidance reaffirmed.
- Period
- first quarter ended March 31, 2023
- Revenue
- $307.1 million
- Net income
- $(7.6) million
- EPS
- $(0.16) per diluted share
- Guidance
- reaffirmed
- Result
- preliminary results
Exact text from the filing
flow reinforces our healthy balance sheet while we actively seek capital allocation opportunities." FIRST QUARTER 2023 RESULTS • Q1 2023 quarterly revenues decreased 2.5% to $307.1 million compared to $315.1 million for Q1 2022. • Income from operations decreased 14.1% to $26.3 million compared to $30.6 million for Q1 2022. • Net (loss) income decreased to $(7.6)
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
ZIFF DAVIS, INC.: Sixth Amended and Restated Bylaws approved, including revisions for universal proxy rule, special meeting/nomination procedures, and other technical edits (effective 2023-05-05).
- Change
- bylaw amendment
- Effective
- 2023-05-05
Exact text from the filing
On May 5, 2023, the Board of Directors of the Company approved the Company's Sixth Amended and Restated Bylaws.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
ZIFF DAVIS, INC. shareholders approved Approve, in advisory note, the frequency of future advisory votes on the compensation of the named executive officers at the 2023-05-05 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-05-05
Exact text from the filing
(4) A proposal to approve, in advisory note, the frequency of future advisory votes on the compensation of the named executive officers. The proposal was approved for 1 year with the following vote, and in accordance with the voting results on this proposal the Company will hold a vote on the compensation of its named executive officers every year until the next say-on-frequency vote: 1 Year 2 Years 3 Years Abstain Broker Non-Votes 42,649,205 3,439 965,395 20,697 1,332,764
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
ZIFF DAVIS, INC. shareholders approved Approve, in an advisory vote, the compensation of the named executive officers at the 2023-05-05 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-05
Exact text from the filing
(3) A proposal to approve, in an advisory vote, the compensation of the named executive officers. This proposal was approved with the following vote: For 35,212,540 Against 8,388,507 Abstain 37,689 Broker Non-Votes 1,332,764
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
ZIFF DAVIS, INC. shareholders approved Election of six director nominees to serve for the ensuing year and until their successors are elected and qualified at the 2023-05-05 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-05
Exact text from the filing
(1) The election of the following six director nominees to serve for the ensuing year and until their successors are elected and qualified. All nominees were elected as directors with the following vote: Nominee For Against Abstain Broker Non-Votes Vivek Shah 43,341,352 276,991 20,393 1,332,764 Sarah Fay 38,426,199 5,192,306 20,231 1,332,764 Trace Harris 43,291,989 326,016 20,731 1,332,764 W. Brian Kretzmer 41,422,819 2,194,448 21,469 1,332,764 Jonathan F. Miller 43,139,029 478,522 21,185 1,332,764 Scott C. Taylor 40,930,703 2,687,334 20,699 1,332,764
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
ZIFF DAVIS, INC. shareholders approved Ratify the appointment of KPMG LLP to serve as the Company's independent auditors for fiscal year 2023 at the 2023-05-05 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-05
Exact text from the filing
(2) A proposal to ratify the appointment of KPMG LLP to serve as the Company’s independent auditors for fiscal year 2023. This proposal was approved with the following vote: For 44,902,353 Against 51,809 Abstain 17,338 Broker Non-Votes N/A
View on SEC.gov
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