Ziff Davis, Inc. Files Q2 2024 10-Q Report

TL;DR

ZIFF DAVIS Q2 10-Q FILED - FINANCIALS OUT

AI Summary

Ziff Davis, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter and first half of the fiscal year. Key financial data and operational details are presented for the company, which operates in the Telecommunications sector.

Why It Matters

This filing provides investors with a detailed look at Ziff Davis's financial performance and position as of the end of the second quarter of 2024, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company, Ziff Davis, Inc. is subject to market fluctuations and industry-specific risks, making its financial reporting inherently medium risk.

Key Numbers

• 20240630 — Fiscal Quarter End Date (Reporting period for the 10-Q)
• 20240808 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• ZIFF DAVIS, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240808 (date) — Filed as of Date
• 114 5TH AVENUE (address) — Business Address
• NEW YORK (location) — Business Address City
• NY (location) — Business Address State
• 10011 (postal_code) — Business Address Zip
• 212-503-3500 (phone_number) — Business Phone
• J2 GLOBAL, INC. (company) — Former Company Name
• 20111206 (date) — Date of Name Change

FAQ

Key Financial Figures

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

Filing Documents

• zd-20240630.htm (10-Q) — 1500KB
• zd20240630ex-311.htm (EX-31.1) — 11KB
• zd20240630ex-312.htm (EX-31.2) — 10KB
• zd20240630ex-321.htm (EX-32.1) — 5KB
• zd20240630ex-322.htm (EX-32.2) — 5KB
• zd-20240630_g1.jpg (GRAPHIC) — 67KB
• 0001084048-24-000069.txt ( ) — 8651KB
• zd-20240630.xsd (EX-101.SCH) — 49KB
• zd-20240630_cal.xml (EX-101.CAL) — 73KB
• zd-20240630_def.xml (EX-101.DEF) — 342KB
• zd-20240630_lab.xml (EX-101.LAB) — 683KB
• zd-20240630_pre.xml (EX-101.PRE) — 519KB
• zd-20240630_htm.xml (XML) — 1296KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Operations (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (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) 9 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 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 45 Item 4.

Controls and Procedures

Controls and Procedures 46 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 47 Item 1A.

Risk Factors

Risk Factors 47 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47 Item 3. Defaults Upon Senior Securities 47 Item 4. Mine Safety Disclosures 47 Item 5. Other Information 48 Item 6 . Exhibits 49

Signatures

Signatures 50 -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) June 30, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 687,234 $ 737,612 Short-term investments — 27,109 Accounts receivable, net of allowances of $ 7,302 and $ 6,871 , respectively 450,389 337,703 Prepaid expenses and other current assets 93,525 88,570 Total current assets 1,231,148 1,190,994 Long-term investments 152,421 140,906 Property and equipment, net of accumulated depreciation of $ 334,243 and $ 327,015 , respectively 192,278 188,169 Intangible assets, net 385,820 325,406 Goodwill 1,626,270 1,546,065 Deferred income taxes 8,752 8,731 Other assets 67,125 70,751 TOTAL ASSETS $ 3,663,814 $ 3,471,022 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 367,888 $ 123,256 Accrued employee related costs 29,974 50,068 Other accrued liabilities 28,446 43,612 Income taxes payable, current 6,695 14,458 Deferred revenue, current 198,382 184,549 Other current liabilities 12,420 15,890 Total current liabilities 643,805 431,833 Long-term debt 1,002,460 1,001,312 Deferred income taxes 66,349 45,503 Income taxes payable, noncurrent — 8,486 Deferred revenue, noncurrent 6,816 8,169 Other long-term liabilities 74,497 82,721 TOTAL LIABILITIES 1,793,927 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 44,740,322 and 46,078,464 shares at June 30, 2024 and December 31, 2023, respectively 447 461 Additional paid-in capital 476,232 472,201 Retained earnings 1,471,543 1,491,956 Accumulated other

View Full Filing

View this 10-Q filing on SEC EDGAR