BuzzFeed Q4 revenue down 8% to $134.6M; net loss $106.2M including $102.3M goodwill impairment

BuzzFeed, Inc.

Full-year 2022 revenue $436.7M (+10% YoY); net loss $201.3M vs net income $25.9M in 2021.
Q4 advertising revenue fell 27% YoY to $50.5M; content revenue declined 9% to $54.8M.
Adjusted EBITDA for Q4 not disclosed; full-year Adjusted EBITDA $0.5M vs $41.5M in 2021.
Cash and equivalents ~$56M; majority held at Silicon Valley Bank as of March 10, 2023, but access confirmed via U.S. government guarantee.
CEO cites ongoing Q1 2023 challenges and 'more work to do' amid digital media headwinds.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BuzzFeed, Inc. reported the fourth quarter and full year ended December 31, 2022 results: revenue $436.7 million, net income $201.3 million.

Period: the fourth quarter and full year ended December 31, 2022
Revenue: $436.7 million
Net income: $201.3 million
Result: reported results

Exact text from the filing

defining the future of media.” Full-Year 2022 Financial and Operational Highlights 1 ● Including Complex Networks in the 2022 results, BuzzFeed delivered full year revenues of $436.7 million, growing 10% compared to 2021 ○ Advertising revenue, consisting of payments we receive from advertisers for ads distributed against our editorial and news content, including

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Source: SEC EDGAR

accession 0001828972-23-000017

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