Business UpdateJun 2, 2026, 04:13 PM
IAC Inc. Ceases Search Segment Operations Post-Google Agreement Expiration
AI Summary
IAC Inc., in the process of rebranding as People Incorporated, announced the cessation of its Search segment operations due to the expiration of its services agreement with Google on April 30, 2026. The company has posted supplemental financial information to reflect the Search segment as discontinued operations for all periods prior to its cessation. Financial highlights for Q1 2026 include total revenue of $405,797 thousand, an operating loss of ($31,816) thousand, and Adjusted EBITDA of $10,950 thousand.
Key Highlights
- IAC Inc. (soon to be People Incorporated) received notice of non-renewal for its Google services agreement, expiring April 30, 2026.
- The company ceased operations of its Search segment following the expiration of the Google services agreement.
- Supplemental financial information has been posted to reflect the Search segment as discontinued operations.
- Total revenue for Q1 2026 was $405,797 thousand.
- Total operating loss for Q1 2026 was ($31,816) thousand.
- Total Adjusted EBITDA for Q1 2026 was $10,950 thousand.
Price Impact
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