secwatch.observer — SEC 8-K summary
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Issuer:     IAC Inc. (IAC)
CIK:        0001800227
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001104659-23-115251
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IAC Q3 revenue down 15% to $1.11B; Adj EBITDA up 83% to $100M; net loss $390M on MGM hit
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- Revenue $1.11B, -15% YoY; operating loss improved 74% to $32.7M.
- Adjusted EBITDA $100.4M, +83%; Dotdash Meredith EBITDA +119% to $68.3M.
- Net loss $390.5M ($4.72/sh) vs $63.8M loss, driven by $463M unrealized MGM loss.
- Angi revenue -25% (pro forma net -14%); completed sale of Total Home Roofing on Nov 1.
- Cash & marketable securities $1.4B, debt $2.0B; IAC has 3.7M shares left for repurchase.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800227/000110465923115251/0001104659-23-115251-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800227/000110465923115251/tm2330002d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-115251

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