IAC Q1 revenue falls 12% to $422.9 million; operating loss of $40.1 million
IAC reported first-quarter 2026 results on May 4, 2026, with revenue down 12% to $422.9 million and an operating loss of $40.1 million, compared with operating income of $24.1 million a year earlier. The net loss attributable to shareholders narrowed to $71.9 million, or $0.94 per diluted share, from $216.8 million, or $2.64, with the filing tying the swing to a $34.0 million unrealized gain on its MGM Resorts stake versus a $324.3 million loss in Q1 2025. The company is also streamlining its structure around People Inc. and expects $40 million in annual run-rate operating expense savings, which shareholders should weigh against the weaker operating results.
Key points
- Adjusted EBITDA was $2.7 million, down 93% from $36.4 million in Q1 2025; People Inc. Adjusted EBITDA was $43.5 million, down 46%.
- Net loss attributable to IAC shareholders was $71.9 million, or $0.94 per diluted share, versus $216.8 million, or $2.64 per share, a year earlier.
- Expected restructuring costs include $14 million in severance and related expenses, with $10 million recognized in Q1 2026, and $48 million in stock-based compensation expense.
- Officers Christopher Halpin and Kendall Handler will depart in August; Neil Vogel is expected to become Chief Executive Officer after Q2 2026 earnings.
The filing
Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.