Ziff Davis Navigates Evolving Digital Landscape

TL;DR

**Ziff Davis is a steady ship in choppy digital waters, but watch for clearer revenue signals before diving in.**

AI Summary

Ziff Davis, Inc. (ZD) reported a mixed financial performance for the second quarter ended June 30, 2025. Revenue for the three months ended June 30, 2025, was not explicitly detailed in the provided excerpt, but the company's strategic outlook suggests continued focus on its digital media and cybersecurity segments. Net income figures were also not directly available in the provided text. Key business changes include the historical name changes from J2 Global Communications Inc. to J2 Global, Inc., and then to Ziff Davis, Inc., indicating an evolution in its corporate identity and strategic focus over time. The company maintains Series A and Series B Preferred Stock, with balances at December 31, 2024, and June 30, 2025, suggesting a stable capital structure. Risks are implicitly tied to its operational segments, though specific new risks were not detailed. The strategic outlook, while not explicitly stated, can be inferred from its historical acquisitions and divestitures, aiming to optimize its portfolio in digital media, cybersecurity, and health.

Why It Matters

Ziff Davis's performance is crucial for investors seeking exposure to diversified digital media and cybersecurity assets, impacting its competitive standing against rivals like IAC and NortonLifeLock. Its ability to integrate acquisitions and manage its capital structure, including Series A and B Preferred Stock, directly influences shareholder value. For employees, the company's strategic shifts and financial health dictate job security and growth opportunities within its various subsidiaries. Customers rely on Ziff Davis's brands for content and services, making its operational efficiency and innovation vital for market relevance and sustained engagement.

Risk Assessment

Risk Level: medium — The risk level is medium due to the lack of explicit revenue and net income figures in the provided excerpt, making it difficult to assess recent financial performance. While the company has a stable capital structure with Series A and B Preferred Stock, the absence of detailed operational results for the quarter ended June 30, 2025, introduces uncertainty for investors.

Analyst Insight

Investors should hold ZD shares and await the full 10-Q filing for detailed revenue and net income figures to properly assess its financial health and growth trajectory. Focus on segment-specific performance and any forward-looking statements regarding strategic acquisitions or divestitures.

Key Numbers

• 2025-06-30 — Conformed Period of Report (End date of the reporting period for this 10-Q filing.)
• 2025-08-07 — Filed As Of Date (Date the 10-Q filing was submitted to the SEC.)
• 88 — Public Document Count (Number of public documents associated with this filing.)
• 1231 — Fiscal Year End (Ziff Davis, Inc.'s fiscal year ends on December 31.)
• 000-25965 — SEC File Number (The SEC file number for Ziff Davis, Inc.)
• 251194339 — Film Number (The film number associated with this SEC filing.)
• 2011-12-06 — Date of Name Change (Date J2 Global, Inc. changed its name to Ziff Davis, Inc.)
• 2000-12-21 — Date of Name Change (Date J2 Global Communications Inc changed its name to J2 Global, Inc.)
• 1999-04-13 — Date of Name Change (Date JFAX COM INC changed its name to J2 Global Communications Inc.)
• 360 PARK AVE SOUTH — Business Address (Street address of Ziff Davis, Inc.'s business operations.)

Key Players & Entities

• ZIFF DAVIS, INC. (company) — filer of the 10-Q
• J2 GLOBAL, INC. (company) — former company name of Ziff Davis, Inc.
• J2 GLOBAL COMMUNICATIONS INC (company) — former company name of Ziff Davis, Inc.
• JFAX COM INC (company) — former company name of Ziff Davis, Inc.
• SEC (regulator) — regulator for 10-Q filings
• Bloomberg (company) — financial news outlet
• IAC (company) — competitor in digital media
• NortonLifeLock (company) — competitor in cybersecurity
• 0001084048 (dollar_amount) — Central Index Key (CIK) for Ziff Davis, Inc.
• 471053457 (dollar_amount) — EIN for Ziff Davis, Inc.

FAQ

Industry Context

Ziff Davis, Inc. operates within the digital media and cybersecurity sectors. The digital media landscape is characterized by intense competition for audience attention and advertising revenue, with a continuous need for content innovation and platform adaptation. The cybersecurity market is experiencing robust growth driven by increasing cyber threats and the growing importance of data protection for businesses and individuals.

Regulatory Implications

As a publicly traded company, Ziff Davis, Inc. is subject to SEC regulations, including timely and accurate financial reporting under the Securities Exchange Act of 1934. Compliance with data privacy regulations, such as GDPR and CCPA, is also critical, particularly for its digital media and cybersecurity offerings, as breaches or non-compliance can lead to significant fines and reputational damage.

What Investors Should Do

1. Monitor revenue trends in digital media and cybersecurity segments.
2. Analyze changes in preferred stock balances.
3. Review historical name changes for strategic insights.

Key Dates

• 2025-06-30: Conformed Period of Report — Indicates the end of the reporting period for the 10-Q filing, providing a snapshot of the company's financial status as of this date.
• 2025-08-07: Filed As Of Date — The date the 10-Q filing was officially submitted to the SEC, reflecting the most current information available at that time.
• 2011-12-06: Name Change from J2 Global, Inc. to Ziff Davis, Inc. — Marks a significant shift in the company's corporate identity, aligning its name with its strategic focus, likely in digital media and technology.
• 2000-12-21: Name Change from J2 Global Communications Inc. to J2 Global, Inc. — Represents an earlier evolution of the company's branding, preceding the more recent rebranding to Ziff Davis, Inc.
• 1999-04-13: Name Change from JFAX COM INC to J2 Global Communications Inc. — The initial name change indicating the company's foundational steps in its corporate history and expansion.

Glossary

us-gaap:SeriesAPreferredStockMember

Represents the accounting standard for Series A Preferred Stock, a class of stock with specific rights and privileges. (Indicates the presence and tracking of Series A Preferred Stock on the balance sheet as of December 31, 2024, and June 30, 2025.)

us-gaap:SeriesBPreferredStockMember

Represents the accounting standard for Series B Preferred Stock, another class of stock with distinct features. (Shows the balance of Series B Preferred Stock on the balance sheet for the reporting periods ending December 31, 2024, and June 30, 2025.)

us-gaap:CommonStockMember

Refers to the standard accounting treatment for common stock, representing ownership in the company. (Details the changes in common stock balances during the fiscal quarters and year-to-date periods, reflecting equity transactions.)

us-gaap:AdditionalPaidInCapitalMember

Represents the amount paid by investors for stock above its par value. (Tracks the changes in additional paid-in capital, reflecting capital raised from stock issuance and other equity transactions.)

us-gaap:RetainedEarningsMember

The cumulative net income of a company that has not been distributed to shareholders as dividends. (Shows the accumulation of profits over time, with specific figures provided for quarterly and year-to-date periods.)

us-gaap:AccumulatedOtherComprehensiveIncomeMember

Accumulated gains and losses that have not yet been realized and are not included in net income. (Reflects unrealized gains or losses on investments, foreign currency translations, and other items impacting equity but not the income statement.)

Year-Over-Year Comparison

This filing covers the period ending June 30, 2025. While specific comparative figures for revenue and net income against the prior year's quarter (ending June 30, 2024) are not detailed in the provided excerpt, the company's ongoing strategic focus on digital media and cybersecurity implies a continued effort to adapt to market dynamics. The historical context of name changes suggests a pattern of strategic repositioning, which investors should consider when evaluating year-over-year performance and risk.

Key Financial Figures

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

Filing Documents

• zd-20250630.htm (10-Q) — 1899KB
• zd20250630ex-311.htm (EX-31.1) — 10KB
• zd20250630ex-312.htm (EX-31.2) — 10KB
• zd20250630ex-321.htm (EX-32.1) — 5KB
• zd20250630ex-322.htm (EX-32.2) — 5KB
• zd-20250630_g1.jpg (GRAPHIC) — 67KB
• 0001084048-25-000057.txt ( ) — 10377KB
• zd-20250630.xsd (EX-101.SCH) — 52KB
• zd-20250630_cal.xml (EX-101.CAL) — 81KB
• zd-20250630_def.xml (EX-101.DEF) — 338KB
• zd-20250630_lab.xml (EX-101.LAB) — 721KB
• zd-20250630_pre.xml (EX-101.PRE) — 538KB
• zd-20250630_htm.xml (XML) — 1895KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Operations (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (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) 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 35 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 50 Item 4.

Controls and Procedures

Controls and Procedures 51 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 52 Item 1A.

Risk Factors

Risk Factors 52 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 53 Item 6 . Exhibits 53

Signatures

Signatures 54 -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, 2025 December 31, 2024 ASSETS Cash and cash equivalents $ 457,259 $ 505,880 Accounts receivable, net of allowances of $ 7,919 and $ 8,148 , respectively 523,008 660,223 Prepaid expenses and other current assets 122,204 105,966 Total current assets 1,102,471 1,272,069 Long-term investments 139,812 158,187 Property and equipment, net of accumulated depreciation of $ 419,265 and $ 361,710 , respectively 204,243 197,216 Intangible assets, net 397,626 425,749 Goodwill 1,619,482 1,580,258 Deferred income taxes 7,510 7,487 Other assets 48,266 63,368 TOTAL ASSETS $ 3,519,410 $ 3,704,334 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable and accrued expenses $ 474,189 $ 670,769 Income taxes payable, current — 19,715 Deferred revenue, current 208,843 199,664 Other current liabilities 9,807 9,499 Total current liabilities 692,839 899,647 Long-term debt 865,380 864,282 Deferred revenue, noncurrent 5,522 5,504 Liability for uncertain tax positions 31,298 30,296 Deferred income taxes 39,827 46,018 Other noncurrent liabilities 41,885 47,705 TOTAL LIABILITIES 1,676,751 1,893,452 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 41,168,057 and 42,848,339 shares at June 30, 2025 and December 31, 2024, respectively 412 428 Additional paid-in capital 484,498 491,891 Retained earnings 1,409,468 1,401,034 Accumulated other comprehensive loss ( 51,719 ) ( 82,471 ) TOTAL STOCKHOLDERS' EQUITY 1,842,659 1,810,882 TOTAL L

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View this 10-Q filing on SEC EDGAR