secwatch.observer — SEC 8-K summary
======================================

Issuer:     IAC Inc. (IAC)
CIK:        0001800227
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001104659-23-088854
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IAC Q2 revenue $1.11B (-18% YoY); net loss $89M improved from $869M loss a year ago
--------------------------------------------------------------------------------

- Revenue $1,111.6M down 18% YoY; operating loss $55.5M improved 67% from -$166.1M.
- Adjusted EBITDA $70.2M up 88% YoY; Dotdash Meredith EBITDA +38% to $54.1M; Angi EBITDA +89% to $18.3M.
- Net loss attributable to IAC $89.0M ($1.07 diluted loss per share) vs $869.1M loss ($10.02 loss) in Q2 2022.
- Unrealized loss on MGM investment narrowed to $32.4M from $825.3M; MGM stake worth $2.9B as of Aug 4, 2023.
- Angi Inc. pro forma net revenue -16% to $375.6M; Services net revenue -18% to $30.4M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800227/000110465923088854/0001104659-23-088854-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800227/000110465923088854/tm2323167d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-088854

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer