secwatch.observer — SEC 8-K summary
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Issuer:     IAC Inc. (IAC)
CIK:        0001800227
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001800227-24-000022
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IAC Q1 2024: Revenue -14% to $930M, operating loss improves; Dotdash Meredith digital rev +13%
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- Total Q1 revenue $929.7M (-14% YoY); operating loss narrowed to $59.2M from $135.6M.
- Dotdash Meredith revenue $390.5M (+1% YoY) with digital revenue up 13% to $209.3M; announced OpenAI partnership.
- Angi Inc. revenue $305.4M (-14% YoY); operating income improved to $2.7M; Jeff Kip appointed CEO.
- IAC Adjusted EBITDA $43.0M vs $9.1M YoY; holds $1.6B cash and $2.0B debt; MGM stake worth $2.7B.
- Search revenue down 29% to $108.5M; Emerging & Other revenue down 34% to $126.5M including Mosaic sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800227/000180022724000022/0001800227-24-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800227/000180022724000022/iaci-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001800227-24-000022

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