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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(In thousands)
People Inc.
Digital			$	269,022					$	246,431					$	753,599					$	693,836
Print			168,979						198,515						516,315						576,096
Intersegment eliminations(a)			(8,174)						(5,483)						(19,646)						(14,768)
Total People Inc.			429,827						439,463						1,250,268						1,255,164
Care.com			90,818						95,746						261,690						275,923
Search			51,892						88,284						183,911						298,513
Emerging & Other			17,288						18,565						51,452						72,465
Intersegment eliminations(b)			(32)						(58)						(111)						(1,382)
Total			$	589,793					$	642,000					$	1,747,210					$	1,900,683

_____________________

(a)    Intersegment eliminations relate to Digital performance marketing commissions earned for the placement of magazine subscriptions and Digital advertising related to media campaigns sold by an agency business within Print.

(b)    For the nine months ended September 30, 2024, intersegment eliminations primarily relate to advertising sold by People Inc. to other IAC owned businesses.

The following table presents the revenue of the Company’s segments disaggregated by type of service:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(In thousands)
People Inc.
Digital:
Advertising revenue			$	161,204					$	165,562					$	456,951					$	451,890
Performance marketing revenue			72,395						52,324						190,716						157,410
Licensing and other revenue			35,423						28,545						105,932						84,536
Total Digital revenue			269,022						246,431						753,599						693,836
Print:
Subscription revenue			71,294						81,195						219,110						235,301
Advertising revenue			38,695						47,105						112,732						134,714
Project and other revenue			28,201						37,380						85,308						103,924
Newsstand revenue			25,510						25,706						80,134						76,124
Performance marketing revenue			5,279						7,129						19,031						26,033
Total Print revenue			168,979						198,515						516,315						576,096
Intersegment eliminations(a)			(8,174)						(5,483)						(19,646)						(14,768)
Total People Inc. revenue			$	429,827					$	439,463					$	1,250,268					$	1,255,164
Care.com
Consumer revenue			$	44,467					$	46,302					$	135,416					$	146,226
Enterprise revenue			46,351						49,444						126,274						129,697
Total Care.com revenue			$	90,818					$	95,746					$	261,690					$	275,923
Search
Advertising revenue:
Google advertising revenue			$	51,843					$	86,191					$	183,701					$	288,598
Non-Google advertising revenue			22						1,745						166						8,681
Total advertising revenue			51,865						87,936						183,867						297,279
Other revenue			27						348						44						1,234
Total Search revenue			$	51,892					$	88,284					$	183,911					$	298,513

The following table presents the significant segment expenses regularly provided to the CODM for each of the Company’s reportable segments that are included in determining Segment Adjusted EBITDA, which is the Company’s segment reporting performance measure:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(In thousands)
People Inc.
Digital:
Cost of revenue			$	81,100					$	71,267					$	227,561					$	198,548
Selling and marketing expense			70,162						54,888						195,208						163,003
General and administrative expense			25,554						23,758						76,928						74,420
Product development expense			28,247						30,116						84,579						91,058
Total Digital expenses			205,063						180,029						584,276						527,029
Print:
Cost of revenue			89,012						95,724						254,747						286,673
Selling and marketing expense			59,493						73,561						186,666						213,290
General and administrative expense			11,552						12,164						32,711						37,718
Product development expense			1,583						2,453						4,666						7,645
Total Print expenses			161,640						183,902						478,790						545,326
Other:
Other(c)(d)			6,332						12,374						(8,030)						32,270
Intersegment eliminations			(8,174)						(5,483)						(19,646)						(14,768)
Total People Inc. expenses			$	364,861					$	370,822					$	1,035,390					$	1,089,857
Care.com
Cost of revenue			$	20,782					$	20,561					$	58,075					$	59,707
Selling and marketing expense			27,698						26,057						76,558						77,032
General and administrative expense			21,117						17,605						57,760						62,826
Product development expense			13,393						13,412						41,136						39,119
Total Care.com expenses			$	82,990					$	77,635					$	233,529					$	238,684
Search
Traffic acquisition costs and online marketing(e)			$	42,386					$	75,577					$	151,982					$	254,680
Other segment items(f)			7,626						10,256						21,939						32,360
Total Search expenses			$	50,012					$	85,833					$	173,921					$	287,040

_____________________

(c)    Other comprises unallocated corporate expenses.

(d)    The three months ended September 30, 2025 include a net gain of $5.2 million from an amendment of a lease, which provided for the surrender of certain office space early. The nine months ended September 30, 2025 include net gains of $41.5 million resulting from amendments of a lease, which provided for the surrender of certain office space early, reflecting $36.2 million recognized in the first quarter of 2025 from the surrender of certain unoccupied office space early and $5.2 million described above.

(e)    Traffic acquisition costs include payments made to partners who direct traffic to our Ask Media Group websites and who distribute our business-to-business customized browser-based applications.

(f)    Search other segment items include compensation expense, excluding stock-based compensation, and other operating expenses.

Schedule of Adjusted EBITDA

The following table presents a summary of Segment Adjusted EBITDA:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(In thousands)
People Inc.
Digital			$	63,959					$	66,402					$	169,323					$	166,807
Print			7,339						14,613						37,525						30,770
Other(c)(d)			(6,332)						(12,374)						8,030						(32,270)
Total People Inc.			64,966						68,641						214,878						165,307
Care.com			7,828						18,111						28,161						37,239
Search			1,880						2,451						9,990						11,473
Emerging & Other			(20,046)						(2,121)						(30,902)						(29,267)
Total Segment Adjusted EBITDA			$	54,628					$	87,082					$	222,127					$	184,752

Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss)

The following table reconciles total Segment Adjusted EBITDA to loss from continuing operations before income taxes:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(In thousands)
Total Segment Adjusted EBITDA			$	54,628					$	87,082					$	222,127					$	184,752
Corporate Adjusted EBITDA loss			(25,527)						(15,497)						(90,733)						(62,854)
Stock-based compensation expense(g)			(16,992)						(18,207)						(16,067)						(58,144)
Depreciation			(8,996)						(8,877)						(28,922)						(30,725)
Amortization of intangibles			(23,511)						(36,355)						(70,452)						(109,793)
Interest expense			(27,636)						(34,656)						(93,117)						(103,810)
Unrealized gain (loss) on investment in MGM Resorts International			17,476						(346,272)						648						(361,805)
Other (expense) income, net			(18,438)						10,384						(7,922)						90,828
Loss from continuing operations before income taxes			$	(48,996)					$	(362,398)					$	(84,438)					$	(451,551)

_____________________

(g)    The nine months ended September 30, 2025 reflect the reversal of $49.8 million of previously recognized stock-based compensation expense related to the forfeiture of our former Chief Executive Officer’s (“CEO”) restricted stock award pursuant to an employment transition agreement (the “Employment Transition Agreement”) entered into on January 13, 2025, partially offset by $14.9 million of stock-based compensation expense related to the transfer of 5.0 million Class B shares of Angi held by the Company, prior to the Distribution to our former CEO, pursuant to the Employment Transition Agreement.

Schedule of Capital Expenditures by Segment

The following table presents capital expenditures:

			Nine Months Ended September 30,
			2025						2024
			(In thousands)
People Inc.			$	12,212					$	9,336
Care.com			1,355						297
Corporate			421						124
Total			$	13,988					$	9,757

Schedule of Revenue and Long-lived Assets by Geographical Area

Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(In thousands)
Revenue:
United States			$	546,358					$	575,083					$	1,609,773					$	1,666,547
All other countries			43,435						66,917						137,437						234,136
Total			$	589,793					$	642,000					$	1,747,210					$	1,900,683

			September 30, 2025						December 31, 2024
			(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States			$	462,449					$	535,608
All other countries			1,759						2,348
Total			$	464,208					$	537,956

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