secwatch.observer — SEC 8-K summary
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Issuer:     IAC Inc. (IAC)
CIK:        0001800227
Form:       8-K
Filed at:   2026-05-04T23:59:59+00:00
Accession:  0001628280-26-029796
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IAC Q1 revenue down 12% to $423M; net loss $71.9M; announces restructuring to People Inc.
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- Q1 revenue $422.9M (-12% YoY); operating loss $40.1M vs income $24.1M; net loss $71.9M (-$0.94 diluted EPS).
- People Inc. Digital revenue grew 8% to $253M; total People Inc. Adj. EBITDA $43.5M, down 46% YoY.
- Completed sale of Care.com for $296M net proceeds; Search revenue -76% to $17.1M, to be discontinued.
- Leadership changes: Barry Diller remains Chairman; Neil Vogel to become CEO, Tim Quinn CFO; Halpin, Handler depart.
- Expects $40M annual run-rate cost savings from restructuring; repurchased 2.9M shares for $111M since Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800227/000162828026029796/0001628280-26-029796-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800227/000162828026029796/iaci-20260504.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-029796

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