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:  0001800227-23-000033
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dotdash Meredith Q3 revenue falls 10.6% to $417M; net loss improves to $25M
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- Revenue $417.5M vs $467.1M YoY; nine-month revenue $1.22B down 16.3%.
- Net loss $25.3M vs loss $87.0M Q3 2022; nine-month net loss $168.3M vs $235.6M.
- Operating loss narrowed to $3.6M from $95.5M, helped by cost cuts and impairment charges.
- Interest expense rose to $35.1M (+44% YoY); debt $1.5B as of Sept 30, 2023.
- IAC contributed $405M and received $280M distributions from Dotdash Meredith during nine months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800227/000180022723000033/0001800227-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800227/000180022723000033/iaci-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001800227-23-000033

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