Ziff Davis, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Ziff Davis, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial performance and segment information.</b>

AI Summary

ZIFF DAVIS, INC. (ZD) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Ziff Davis, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the fiscal quarter period from January 1, 2024, to March 31, 2024. The company's previous name was J2 Global, Inc., with name changes dating back to 1999. Key financial data points such as common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are reported for various periods. Operating segments include Digital Media, Advertising and Performance Marketing, and Subscription and Licensing.

Why It Matters

For investors and stakeholders tracking ZIFF DAVIS, INC., this filing contains several important signals. This filing provides investors with an updated view of Ziff Davis's financial health and operational performance for the first quarter of 2024. Understanding the segment performance (Digital Media, Advertising, Subscription) is crucial for assessing the company's revenue streams and growth potential.

Risk Assessment

Risk Level: medium — ZIFF DAVIS, INC. shows moderate risk based on this filing. The filing is a standard quarterly report, which typically contains routine financial information. However, the absence of specific financial performance metrics in the provided header data prevents a deeper risk assessment.

Analyst Insight

Review the full 10-Q filing to analyze specific revenue figures, profitability, debt levels, and management's discussion of financial condition and results of operations.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed period of report)
• 2024-05-09 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Fiscal quarter period)
• 2023-03-31 — Prior Year Quarter End (Comparison period)

Key Players & Entities

• ZIFF DAVIS, INC. (company) — Filer name
• J2 GLOBAL, INC. (company) — Former company name
• JFAX COM INC (company) — Former company name
• J2 GLOBAL COMMUNICATIONS INC (company) — Former company name

FAQ

Industry Context

Ziff Davis operates within the digital media and technology sectors, focusing on advertising, performance marketing, and subscription-based services.

Regulatory Implications

The filing is a standard 10-Q, adhering to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and net income.
2. Examine the Management's Discussion and Analysis (MD&A) section for insights into business trends and outlook.
3. Compare Q1 2024 results to prior periods to identify performance changes and growth drivers.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial data extracted for the 10-Q filing ending March 31, 2024. Specific comparative data from the previous filing is not yet available in this extract.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value ZD The Nasdaq Stock Market LL

Filing Documents

• zd-20240331.htm (10-Q) — 1154KB
• zd20240331ex-101.htm (EX-10.1) — 57KB
• zd20240331ex-102.htm (EX-10.2) — 51KB
• zd20240331ex-103.htm (EX-10.3) — 38KB
• zd20240331ex-311.htm (EX-31.1) — 10KB
• zd20240331ex-312.htm (EX-31.2) — 10KB
• zd20240331ex-321.htm (EX-32.1) — 5KB
• zd20240331ex-322.htm (EX-32.2) — 5KB
• zd-20240331_g1.jpg (GRAPHIC) — 67KB
• 0001084048-24-000047.txt (&nbsp;) — 7612KB
• zd-20240331.xsd (EX-101.SCH) — 47KB
• zd-20240331_cal.xml (EX-101.CAL) — 73KB
• zd-20240331_def.xml (EX-101.DEF) — 319KB
• zd-20240331_lab.xml (EX-101.LAB) — 638KB
• zd-20240331_pre.xml (EX-101.PRE) — 488KB
• zd-20240331_htm.xml (XML) — 1024KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Operations (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Inco me ( Loss ) (Unaudited) 5 Condensed Consolidated Statements of Cash Flows (Unaudited) 6 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 39 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 3. Defaults Upon Senior Securities 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 41 Item 6 . Exhibits 41

Signatures

Signatures 42 -2-

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ZIFF DAVIS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands except share and per share data) March 31, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 734,779 $ 737,612 Short-term investments 16,404 27,109 Accounts receivable, net of allowances of $ 6,484 and $ 6,871 , respectively 446,883 337,703 Prepaid expenses and other current assets 95,036 88,570 Total current assets 1,293,102 1,190,994 Long-term investments 139,964 140,906 Property and equipment, net of accumulated depreciation of $ 346,793 and $ 327,015 , respectively 190,897 188,169 Intangible assets, net 400,562 325,406 Goodwill 1,624,628 1,546,065 Deferred income taxes 8,733 8,731 Other assets 69,145 70,751 TOTAL ASSETS $ 3,727,031 $ 3,471,022 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 360,153 $ 123,256 Accrued employee related costs 26,262 50,068 Other accrued liabilities 44,012 43,612 Income taxes payable, current 18,019 14,458 Deferred revenue, current 199,880 184,549 Other current liabilities 15,008 15,890 Total current liabilities 663,334 431,833 Long-term debt 1,001,884 1,001,312 Deferred income taxes 65,261 45,503 Income taxes payable, noncurrent 8,486 8,486 Deferred revenue, noncurrent 7,172 8,169 Other long-term liabilities 78,882 82,721 TOTAL LIABILITIES 1,825,019 1,578,024 Commitments and contingencies (Note 8 ) Preferred stock, $ 0.01 par value. Authorized 1,000,000 and none issued — — Preferred stock - Series A, $ 0.01 par value. Authorized 6,000 ; total issued and outstanding zero — — Preferred stock - Series B, $ 0.01 par value. Authorized 20,000 ; total issued and outstanding zero — — Common stock, $ 0.01 par value. Authorized 95,000,000 ; total issued and outstanding 46,134,708 and 46,078,464 shares at March 31, 2024 and December 31, 2023, respectively 461 461 Additional paid-in capital 475,926 472,201 Retained earnings 1,503,838 1,491,956 Accumu

View Full Filing

View this 10-Q filing on SEC EDGAR