IAC Reports FY 2024 Financial Results Excluding Angi Following Completed Spin-Off


NEW YORK — IAC Inc. (NASDAQ: IAC) has released updated supplemental financial information on a continuing operations basis following the March 31, 2025, spin-off of Angi Inc., which is now reflected as discontinued operations in all prior periods. The report outlines segment performance through fiscal year-end December 31, 2024.

Full-Year 2024 Financial Highlights (Continuing Operations)
Total Revenue: $2.62 billion, down from $2.92 billion in 2023.

Adjusted EBITDA: $231.8 million, up from $213.7 million in 2023.

Operating Loss: $(28.7) million, narrowing from $(237.8) million in 2023.

Segment-Level Performance
Dotdash Meredith
2024 Revenue: $1.78 billion (↑5% YoY)

Operating Income: $106.9 million (vs. $(150.7) million in 2023)

Adjusted EBITDA: $295.4 million (↑33% YoY)

The Dotdash Meredith segment posted a strong recovery driven by cost optimization and improving ad market trends. The company noted notable growth in Q4 performance, achieving $87.3 million in operating income and $130.1 million in adjusted EBITDA.

Care.com
2024 Revenue: $369.6 million (slightly ↓ YoY)

Operating Income: $33.7 million

Adjusted EBITDA: $45.2 million

Care.com maintained stable operations with consistent quarterly performance across the year.

Search
2024 Revenue: $387.7 million (↓38% YoY)

Operating Income: $17.4 million

Adjusted EBITDA: $17.5 million

The search segment continued to experience a contraction in both traffic and monetization, contributing to lower topline and earnings.

Emerging & Other
2024 Revenue: $89.0 million (↓61% YoY)

Operating Loss: $(37.7) million

Adjusted EBITDA: $(36.0) million

Emerging businesses remained a drag on profitability, though the segment’s scale shrank significantly following the reclassification of Angi and Roofing as discontinued operations.

Corporate
Operating Loss: $(149.0) million

Adjusted EBITDA: $(90.3) million

Corporate-level expenses remained consistent year over year.

Spin-Off of Angi Completed
As of March 31, 2025, IAC completed the spin-off of Angi, including its Roofing business, through a special dividend to shareholders. Angi is now an independent public company, and its historical financials are no longer included in IAC’s ongoing operating segments.

Non-Cash Charges and Adjustments
Goodwill Impairment: None recorded in 2024.

Amortization of Intangibles: $141.9 million in 2024.

Stock-Based Compensation: $77.7 million.

Depreciation: $40.8 million.

Outlook and Strategy
IAC emphasized its focus on scaling profitable segments, including Dotdash Meredith and Care.com, while continuing to streamline operations within Emerging & Other. Management highlighted the improved cash flow trajectory and EBITDA margin expansion as key priorities for 2025.