속보 • May 13
IAC Faces Revenue Decline and Operating Loss While Preparing for Major Rebrand and Asset Sales IAC reported a year-over-year decline in Q1 2026 revenue and gross profit, alongside an operating loss and a wider net loss attributable to common shareholders.
The company ended the quarter with a strong cash balance and positive operating cash flow, while continuing to shed non-core assets such as Care.com and preparing to rebrand as People Incorporated.
Management highlighted margin expansion, growth in non-session-based revenues, internal brand development, opportunistic share buybacks and AI-driven advertising as key focus areas, and scheduled an earnings call for May 5, 2026, at 8:30 a.m. EST.
The combination of weaker top-line results with a solid cash position and positive operating cash flow suggests IAC has room to pursue its priorities even as it works through current business pressures.
Investors may want to listen closely to management’s comments on the rebrand, asset sales and AI-related initiatives on the earnings call, as execution on these priorities and any update on capital allocation, including buybacks, could influence how the story develops from here. Reported Earnings • May 06
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: US$0.045 loss per share (improved from US$3.17 loss in 1Q 2025). Revenue: US$422.9m (down 12% from 1Q 2025). Net loss: US$3.46m (loss narrowed 99% from 1Q 2025). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 124%. Revenue is expected to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Interactive Media and Services industry in the US are expected to grow by 15%. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • May 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 45% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 45% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. New Risk • Apr 23
New major risk - Revenue and earnings growth Earnings have declined by 37% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. 공시 • Mar 17
Pacific Avenue Capital Partners, LLC completed the acquisition of Care.com, Inc. from IAC Inc. (NasdaqGS:IAC). Pacific Avenue Capital Partners, LLC agreed to acquire Care.com, Inc. from IAC Inc. (NasdaqGS:IAC) for $320 million on March 2, 2026. A cash consideration of $320 million will be paid by Care Parent, LLC. As part of consideration, $320 million is paid towards None of Care.com, Inc.
The transaction is expected to be completed in the first half of 2026 after March 13, 2026 subject to customary closing conditions.
J.P. Morgan Securities LLC acted as exclusive financial advisor for IAC Inc. Amber Banks, Thomas Engelhardt, Katharine Moir, David Della Rocca, Megan Alessi, Sandra Benjamin, Morgan Brubaker, Clayton Northouse, Mandy Reeves, Farrell Malone, Patrick English, Paul Rosen, Héctor Armengod, Jana Dammann de Chapto and Jennifer Kent of Latham and Watkins LLP acted as legal counsel to IAC Inc. Weil, Gotshal & Manges LLP acted as legal advisor and Moelis & Company LLC acted as financial advisor to Care Parent, LLC.
Pacific Avenue Capital Partners, LLC completed the acquisition of Care.com, Inc. from IAC Inc. (NasdaqGS:IAC) on March 16, 2026. Buy Or Sell Opportunity • Feb 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.2% to US$37.11. The fair value is estimated to be US$30.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has grown by 3.7%. Buy Or Sell Opportunity • Feb 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 8.0% to US$36.52. The fair value is estimated to be US$30.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has grown by 4.7%. Reported Earnings • Feb 04
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: US$1.30 loss per share (improved from US$6.50 loss in FY 2024). Revenue: US$2.39b (down 37% from FY 2024). Net loss: US$119.3m (loss narrowed 78% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 13% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. 공시 • Jan 15
IAC Inc. to Report Q4, 2025 Results on Feb 03, 2026 IAC Inc. announced that they will report Q4, 2025 results After-Market on Feb 03, 2026 Buy Or Sell Opportunity • Dec 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.9% to US$37.83. The fair value is estimated to be US$31.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 23%. Reported Earnings • Nov 04
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: US$0.27 loss per share (improved from US$2.93 loss in 3Q 2024). Revenue: US$589.8m (down 37% from 3Q 2024). Net loss: US$21.9m (loss narrowed 91% from 3Q 2024). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is expected to decline by 8.4% p.a. on average during the next 3 years, while revenues in the Interactive Media and Services industry in the US are expected to grow by 12%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. 공시 • Oct 09
IAC Inc. to Report Q3, 2025 Results on Nov 03, 2025 IAC Inc. announced that they will report Q3, 2025 results After-Market on Nov 03, 2025 Buy Or Sell Opportunity • Aug 05
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to US$34.38. The fair value is estimated to be US$46.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to decline by 33% in a year. Earnings are forecast to grow by 84% in the next year. Buy Or Sell Opportunity • Jul 11
Now 20% undervalued Over the last 90 days, the stock has risen 19% to US$40.60. The fair value is estimated to be US$50.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 34% in a year. Earnings are forecast to grow by 83% in the next year. 공시 • Jul 10
IAC Inc. to Report Q2, 2025 Results on Aug 04, 2025 IAC Inc. announced that they will report Q2, 2025 results After-Market on Aug 04, 2025 Price Target Changed • May 08
Price target decreased by 15% to US$51.75 Down from US$61.22, the current price target is an average from 14 analysts. New target price is 47% above last closing price of US$35.32. The company is forecast to post a net loss per share of US$2.43 next year compared to a net loss per share of US$6.49 last year. 공시 • May 07
IAC Inc., Annual General Meeting, Jun 18, 2025 IAC Inc., Annual General Meeting, Jun 18, 2025. Reported Earnings • May 06
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: US$2.64 loss per share (down from US$0.54 profit in 1Q 2024). Revenue: US$570.5m (down 39% from 1Q 2024). Net loss: US$232.1m (down US$277.1m from profit in 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 78%. Revenue is expected to decline by 6.5% p.a. on average during the next 3 years, while revenues in the Interactive Media and Services industry in the US are expected to grow by 10%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Price Target Changed • May 05
Price target decreased by 11% to US$56.72 Down from US$63.43, the current price target is an average from 14 analysts. New target price is 60% above last closing price of US$35.35. The company is forecast to post a net loss per share of US$0.30 next year compared to a net loss per share of US$6.49 last year. Board Change • Apr 14
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. No experienced directors. 10 highly experienced directors. Independent Director Maria Seferian was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 공시 • Apr 10
IAC Inc. to Report Q1, 2025 Results on May 05, 2025 IAC Inc. announced that they will report Q1, 2025 results After-Market on May 05, 2025 공시 • Apr 01
IAC Inc. completed the Spin-Off of Angi Inc. (NasdaqGS:ANGI). IAC Inc. (NasdaqGS:IAC) agreed to Spin-Off Angi Inc. (NasdaqGS:ANGI) on January 13, 2024. The completion of the proposed spin-off transaction is subject to a number of conditions including final approval by the IAC Board of Directors and receipt of a tax opinion. The transaction is expected to close in the first half of 2025 but no sooner than March 31, 2025. As of March 10, 2025, The transaction has been approved by the board of IAC Inc. on March 7, 2025, and declared a special dividend (the “Distribution”) of all of the shares of Angi capital stock held by IAC to the holders of IAC common stock, par value $0.0001 per share (the “IAC common stock”), and IAC Class B common stock, par value $0.0001 per share (the “IAC Class B common stock” and together with the IAC common stock, “IAC Stock”). The the dividend will be paid through the distribution of shares of Angi Class A common stock, par value $0.001 per share (the “Angi Class A common stock”), on March 31, 2025 (the “Distribution Date”) to holders of record of IAC Stock as of the close of business on March 25, 2025 (the “Record Date”), on a pro rata basis, subject to the satisfaction or waiver of certain conditions to the Distribution, as described in the Registration Statement on Form S-3, as amended, filed by Angi in connection with the spin-off. As of March 28, 2025, the Company has been informed that the ex-dividend date for IAC common stock will be April 1, 2025. The transaction expected to be completed on April 1, 2025.
IAC Inc. (NasdaqGS:IAC) completed the Spin-Off Angi Inc. (NasdaqGS:ANGI) on March 31, 2025. As a result of the Distribution, IAC no longer owns any shares of Angi capital stock and Angi became an independent public company. Joseph Levin ceased to serve as Chief Executive Officer of IAC and as a member of the board of directors to Executive Chairman of Agni and Jeff Kip as CEO of Agni. 공시 • Mar 11
IAC Inc. Declares Special Dividend, Payable on March 31, 2025 On March 7, 2025, the Board of Directors of IAC Inc. declared a special dividend of all of the shares of Angi capital stock held by IAC to the holders of IAC common stock, par value $0.0001 per share and IAC Class B common stock, par value $0.0001 per share . The dividend will be paid through the distribution of shares of Angi Class A common stock, par value $0.001 per share on March 31, 2025 to the holders of record of IAC Stock as of the close of business on March 25, 2025, on a pro rata basis, subject to the satisfaction or waiver of certain conditions to the Distribution. Recent Insider Transactions Derivative • Mar 09
Chairman & Senior Executive exercised options and sold US$20m worth of stock On the 5th of March, Barry Diller exercised 1.00m options at around US$13.71, then sold 705k of the shares acquired at an average of US$42.57 per share and kept the remainder. Since March 2024, Barry has owned 6.24m shares directly. Company insiders have collectively sold US$18m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Feb 20
Executive VP exercised options and sold US$671k worth of stock On the 15th of February, Kendall Handler exercised options to acquire 14k shares at no cost and sold these for an average price of US$47.02 per share. This trade did not impact their existing holding. Since March 2024, Kendall has owned 13.68k shares directly. Company insiders have collectively sold US$4.2m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Feb 12
Executive VP exercised options and sold US$1.2m worth of stock On the 8th of February, Christopher Halpin exercised options to acquire 28k shares at no cost and sold these for an average price of US$41.60 per share. This trade did not impact their existing holding. Since March 2024, Christopher has owned 36.49k shares directly. Company insiders have collectively sold US$3.5m more than they bought, via options and on-market transactions in the last 12 months. 공시 • Jan 14
IAC Inc. to Report Q4, 2024 Results on Feb 11, 2025 IAC Inc. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 11, 2025 Major Estimate Revision • Nov 19
Consensus EPS estimates fall by 195% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -US$1.28 to -US$3.76 per share. Revenue forecast unchanged at US$3.75b. Interactive Media and Services industry in the US expected to see average net income growth of 34% next year. Consensus price target down from US$73.92 to US$70.00. Share price fell 14% to US$47.21 over the past week. Reported Earnings • Nov 13
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: US$2.93 loss per share (improved from US$4.72 loss in 3Q 2023). Revenue: US$938.7m (down 16% from 3Q 2023). Net loss: US$243.7m (loss narrowed 38% from 3Q 2023). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. 공시 • Oct 17
IAC Inc. to Report Q3, 2024 Results on Nov 11, 2024 IAC Inc. announced that they will report Q3, 2024 results After-Market on Nov 11, 2024 Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: US$1.71 loss per share (further deteriorated from US$0.94 loss in 2Q 2023). Revenue: US$949.5m (down 15% from 2Q 2023). Net loss: US$142.2m (loss widened 83% from 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. 공시 • Jul 18
IAC Inc. to Report Q2, 2024 Results on Aug 06, 2024 IAC Inc. announced that they will report Q2, 2024 results After-Market on Aug 06, 2024 공시 • Jul 11
Barry Diller Reportedly Hints At Continued Interest in Paramount Media mogul Barry Diller IAC Inc. (NasdaqGS:IAC), Chairman hinted to reporters at the annual Sun Valley Conference on July 10, 2024 that he may still be interested in making a bid for Paramount Global (NasdaqGS:PARA). On July 08, 2024, Paramount announced it had agreed to merge with Skydance Media in a deal handing control of the storied Hollywood studio to producer David Ellison. The agreement gave the sellers 45 days to seek better offers. Diller told reporters that 45 days is "a lifetime," according to Bloomberg. Reported Earnings • May 08
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: US$0.52 (down from US$4.75 in 1Q 2023). Revenue: US$929.7m (down 14% from 1Q 2023). Net income: US$45.0m (down 89% from 1Q 2023). Profit margin: 4.8% (down from 38% in 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 37% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$56.35, the stock trades at a trailing P/E ratio of 18.9x. Average forward P/E is 8x in the Interactive Media and Services industry in the US. Total loss to shareholders of 64% over the past three years. 공시 • Apr 28
IAC Inc., Annual General Meeting, Jun 11, 2024 IAC Inc., Annual General Meeting, Jun 11, 2024, at 09:30 US Eastern Standard Time. Agenda: To elect twelve members of IAC’s board of directors, each to hold office until the next succeeding annual meeting of stockholders or until such director’s successor shall have been duly elected and qualified; to approve an amendment to the Company’s Restated Certificate of Incorporation to reflect new Delaware law provisions regarding officer exculpation; to approve a non-binding advisory vote on 2023 executive compensation; to ratify the appointment of Ernst & Young LLP as IAC’s independent registered public accounting firm for the 2024 fiscal year; and to transact other business. 공시 • Apr 17
IAC Inc. to Report Q1, 2024 Results on May 07, 2024 IAC Inc. announced that they will report Q1, 2024 results After-Market on May 07, 2024 Recent Insider Transactions Derivative • Feb 29
CEO & Director exercised options and sold US$2.8m worth of stock On the 23rd of February, Joseph Levin exercised 100.00k options at around US$13.48, then sold 66k of the shares acquired at an average of US$56.69 per share and kept the remainder. For the year to December 2017, Joseph's total compensation was 22% salary and 78% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2023, Joseph has owned 3.60m shares directly. Company insiders have collectively sold US$4.3m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Feb 20
Consensus EPS estimates fall by 172% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$4.39b to US$4.00b. Losses expected to increase from US$0.61 per share to US$1.67. Interactive Media and Services industry in the US expected to see average net income growth of 23% next year. Consensus price target up from US$75.35 to US$76.95. Share price rose 12% to US$57.18 over the past week. New Risk • Feb 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Feb 14
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: US$3.07 (up from US$13.58 loss in FY 2022). Revenue: US$4.37b (down 17% from FY 2022). Net income: US$265.9m (up US$1.44b from FY 2022). Profit margin: 6.1% (up from net loss in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 41% per year, which means it has not declined as severely as earnings. Recent Insider Transactions Derivative • Feb 14
Executive VP exercised options and sold US$1.6m worth of stock On the 8th of February, Christopher Halpin exercised options to acquire 31k shares at no cost and sold these for an average price of US$51.25 per share. This trade did not impact their existing holding. Since June 2023, Christopher has owned 11.34k shares directly. Company insiders have collectively sold US$1.9m more than they bought, via options and on-market transactions in the last 12 months. 공시 • Jan 18
IAC Inc. to Report Q4, 2023 Results on Feb 13, 2024 IAC Inc. announced that they will report Q4, 2023 results After-Market on Feb 13, 2024 공시 • Dec 15
IAC Inc. Appoints Maria Seferian to the Board of Directors Effective December 12, 2023, Maria Seferian, age 51, was appointed to the board of directors of IAC Inc. Ms. Seferian has served as General Counsel of Hillspire, LLC, an integrated, single-family management firm (“Hillspire”), since 2014. In her role, Ms. Seferian oversees the firm’s legal, tax, special investments and initiatives, trusts & estates, strategic planning, grants management and compliance functions. Prior to joining Hillspire, Ms. Seferian worked (most recently as a partner) at Munger, Tolles & Olson, LLP, a law firm with a national and international practice, from 2001, where she specialized in mergers and acquisitions, joint ventures, capital markets and general corporate transactions, representing private and public clients across diverse industries from private equity to entertainment. From 2013 to 2014, Ms. Seferian also served as Interim Director and Chief Executive Officer of the Museum of Contemporary Art in Los Angeles (“MOCA”), where she led the institution through a financial turn-around, securing its long-term stability. Ms. Seferian holds a Bachelor of Arts in philosophy and Master of Arts from the University of Illinois at Urbana-Champaign and a J.D. with honors from Harvard Law School. Following law school and before entering private practice, Ms. Seferian served as a judicial clerk for the Honorable Justice James L. Oakes in the U.S. Court of Appeals for the Second Circuit. In addition to her for-profit affiliations, Ms. Seferian serves as Chairperson of the Board of Trustees of MOCA and as a director of the Schmidt Family Foundation. Price Target Changed • Nov 12
Price target decreased by 7.2% to US$76.02 Down from US$81.95, the current price target is an average from 15 analysts. New target price is 68% above last closing price of US$45.38. Stock is down 10% over the past year. The company is forecast to post earnings per share of US$3.20 next year compared to a net loss per share of US$13.58 last year. New Risk • Nov 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 09
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: US$4.72 loss per share (further deteriorated from US$0.74 loss in 3Q 2022). Revenue: US$1.11b (down 15% from 3Q 2022). Net loss: US$390.5m (loss widened US$326.7m from 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. 공시 • Nov 07
IAC Inc. to Report Q3, 2023 Results on Nov 07, 2023 IAC Inc. announced that they will report Q3, 2023 results After-Market on Nov 07, 2023 Buying Opportunity • Oct 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be US$62.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is forecast to decline by 18% per annum over the same time period. 공시 • Aug 17
IAC Inc. Announces Management Changes, Effective September 18, 2023 On August 10, 2023, Erik Bradbury was appointed as Senior Vice President and Controller (Principal Accounting Officer) of IAC Inc. (the “Company” or “IAC”)), effective on or about September 18, 2023 (the “Effective Date”). Prior to this appointment, Mr. Bradbury, age 45, served as Chief Accounting Officer (Principal Accounting Officer) of DraftKings Inc. since September 2020. In this capacity, Mr. Bradbury oversaw DraftKings’ corporate accounting functions, including SEC and regulatory reporting, operational accounting, accounting policy and the development of relevant accounting positions. Prior to his tenure at DraftKings, Mr. Bradbury was a Partner with Ernst & Young LLP from July 2017 through September 2020. From September 2015 until September 2017, Mr. Bradbury served as a Professional Accounting Fellow at Financial Executives International. Prior to his role as a Professional Accounting Fellow, Mr. Bradbury spent 11 years in Ernst & Young’s U.S. Assurance practice, where he served in multiple roles, including within the National Professional Practice Group, Financial Accounting Advisory Services practices and as an auditor. Mr. Bradbury received a degree in accounting from Brigham Young University and is a Certified Public Accountant. On August 10, 2023, Michael H. Schwerdtman, Senior Vice President, Controller (Principal Accounting Officer) notified the Company that he was retiring from his position, effective as of the Effective Date, after having served in such role since December 2004. Mr. Schwerdtman will remain an employee of the Company and continue to serve as an advisor from the Effective Date through March 1, 2024. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$56.49, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 20x in the Interactive Media and Services industry in the US. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$88.11 per share. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 18% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. New Risk • Aug 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 09
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: US$1.07 loss per share (improved from US$10.02 loss in 2Q 2022). Revenue: US$1.11b (down 18% from 2Q 2022). Net loss: US$89.0m (loss narrowed 90% from 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 37%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Interactive Media and Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. 공시 • Jul 22
IAC Inc. to Report Q2, 2023 Results on Aug 08, 2023 IAC Inc. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 08, 2023 Buying Opportunity • May 31
Now 20% undervalued Over the last 90 days, the stock is up 7.0%. The fair value is estimated to be US$69.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company became loss making. 공시 • May 11
IAC Inc. (NasdaqGS:IAC) acquired an additional unknown stake in Turo Inc. for approximately $100 million. IAC Inc. (NasdaqGS:IAC) acquired an additional unknown stake in Turo Inc. for approximately $100 million on April 25, 2023. Following the purchase, IAC’s aggregate percentage ownership in Turo is 31%.
IAC Inc. (NasdaqGS:IAC) completed the acquisition of Turo Inc. on April 25, 2023 Reported Earnings • May 11
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: US$4.72 (up from US$2.72 loss in 1Q 2022). Revenue: US$1.08b (down 18% from 1Q 2022). Net income: US$417.8m (up US$653.6m from 1Q 2022). Profit margin: 39% (up from net loss in 1Q 2022). The move to profitability was driven by lower expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Interactive Media and Services industry in the US. 
