NASDAQ$ZD

Ziff Davis, Inc · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Ziff Davis's financial performance decreased slightly due to various factors, including revenue decline and increased operating costs.

Ziff Davis reported a slight decrease in quarterly revenues, a decrease in income from operations, and a decrease in net income. However, adjusted net income from continuing operations increased slightly, and free cash flow saw a significant increase.

  • Q4 2023 revenues decreased by 1.7% to $389.9 million compared to Q4 2022.
  • Income from operations decreased by 13.6% to $80.7 million compared to Q4 2022.
  • Net income decreased by 6.1% to $63.4 million compared to Q4 2022.
  • Free cash flow was $65.9 million in Q4 2023, a significant increase compared to $17.8 million in Q4 2022.

Headline financials

Total Revenue

$390M

Previous: $397M-1.7%
EPS (adj)

$2.33

Previous: $2.26+3.1%
Adjusted EBITDA

$168M

No prior period
Operating Income Margin

20.7%

No prior period
Adjusted EBITDA Margin

43.0%

No prior period
Adjusted Net Income

$107M

No prior period
Operating Cash Flow

$92.1M

No prior period
Capital Expenditures

-$26.3M

Previous: $25.4M-203.4%
Net Income

$63.4M

Previous: $69.2M-8.4%
Operating Income

$80.7M

Previous: $93.5M-13.7%
Gross Profit

$299M

Previous: $346M-13.6%
R&D Expense

$15.4M

No prior period
Stock-Based Comp

$7.53M

Previous: $5.8M+29.9%

Revenue & EPS history

Ziff Davis · Revenue · Quarterly

$390M

Q4 2023-1.7%vs Q4 2022
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Forward guidance

The Company’s full year 2024 outlook is as follows (in millions, except per share data):

Tailwinds

  • Revenue: $1,411.0 - $1,471.0
  • Adjusted EBITDA: $500.0 - $521.0
  • Adjusted diluted EPS*: $6.43 - $6.77
  • Revenue Growth: 3.4 % - 7.8 %
  • Adjusted EBITDA Growth: 3.7 % - 8.0 %

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2023

Historical avgQ4 2023

+0.9%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+2.8%

Avg return

30 days after

49%

33 / 68 earnings

Positive

+20.4%

Q3 2024

Best reaction

-15.1%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.2%-6.4%+5.9%
Q4 2025-15.1%-8.4%+46.6%
Q3 2025-2.3%-3.3%+5.5%
Q1 2025-4.6%+3.3%+2.8%
Q4 2024-9.5%-15.9%-19.7%
Q3 2024+20.4%+18.0%+19.2%
Q2 2024+3.6%+6.3%+16.4%
Q1 2024-2.4%+4.2%+3.7%
Q4 2023+5.2%+7.2%-3.0%
Q3 2023-0.4%+8.2%+3.7%
Q2 2023-3.0%-6.5%-5.7%
Q1 2023-1.9%-1.8%+1.4%
Q4 2022+0.1%-0.6%-7.7%
Q3 2022+17.3%+17.6%+16.3%
Q2 2022+0.0%+1.4%-6.9%
Q1 2022-2.7%-11.5%-13.5%
Q4 2021+5.1%+4.2%-3.1%
Q3 2021-1.9%+1.7%-16.6%
Q2 2021-2.3%-3.7%-3.7%
Q1 2021+3.7%+4.4%+8.2%
Q4 2020-0.2%+2.6%+11.0%
Q3 2020+4.0%+7.5%+24.4%
Q2 2020+3.3%+16.2%+17.0%
Q1 2020+5.7%-6.6%+5.0%
Q4 2019-2.9%-1.0%-16.7%
Q3 2019-0.9%+3.3%+1.8%
Q2 2019-1.8%-0.2%+7.7%
Q1 2019+1.9%+2.2%-3.2%
Q4 2018+10.8%+14.2%+15.1%
Q3 2018+4.6%+3.7%-0.2%
Q2 2018-6.1%-4.0%-5.3%
Q1 2018+4.8%+3.6%+3.7%
Q4 2017-1.2%-4.6%+8.2%
Q3 2017+2.2%+0.4%+0.6%
Q2 2017-6.7%-7.5%-10.1%
Q1 2017-1.8%-6.4%-6.6%
Q4 2016+3.1%-0.6%+1.0%
Q3 2016-5.1%-4.6%+4.0%
Q2 2016+2.4%+2.1%+2.0%
Q1 2016+2.6%
Q4 2015+17.5%
Q3 2015-0.5%
Q2 2015+6.4%
Q1 2015-1.1%
Q4 2014+10.5%
Q3 2014+1.7%
Q2 2014+1.9%
Q1 2014+5.2%
Q4 2013+6.7%
Q3 2013-9.1%
Q2 2013+4.6%
Q1 2013-7.7%
Q4 2012+14.8%
Q3 2012+1.9%
Q2 2012-1.3%
Q1 2012+2.1%
Q4 2011-3.3%
Q3 2011-3.1%
Q2 2011-2.8%
Q1 2010+1.5%
Q1 2011-0.4%
Q4 2008-1.0%
Q4 2010-1.0%
Q3 2009+2.1%
Q3 2010+2.1%
Q2 2010-2.9%
Q4 2009-2.9%
Q2 2009-2.9%

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