BuzzFeed Q4 revenue down 26% to $75.7M; full-year net loss $60.3M; sells Complex Networks

BuzzFeed, Inc.

Q4 revenue $75.7M (-26% YoY); advertising $31.9M (-25%), content $27.0M (-34%), commerce $16.7M (-8%).
FY 2023 revenue $252.7M (-26% YoY); net loss from continuing ops $60.3M vs $140.5M loss in 2022.
Adjusted EBITDA loss $4.7M for FY 2023 vs $0.3M positive in 2022; cash $36M at year-end.
Sale of Complex Networks closed Feb 21, 2024; results are continuing ops excluding Complex.
CEO cites AI-driven restructuring and focus on owned-and-operated properties to improve profitability.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BuzzFeed, Inc. reported financial results for fourth quarter and full year ended December 31, 2023.

Period: fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 25, 2024, BuzzFeed, Inc. (the “Company”), issued a press release (the “Press Release”) announcing its financial results for the fourth quarter and full year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001828972-24-000043

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