Quarterly ResultMay 4, 2026, 04:13 PM
IAC to Rebrand as People Inc.; Q1 Revenue $422.9M, Net Loss $(71.9)M
AI Summary
IAC Inc. announced its Q1 2026 results and plans to streamline its structure, rebranding as People Incorporated (NASDAQ: PPLI) by Q2 2026. This transition is expected to generate $40 million in annual operating expense savings and $20-$25 million in reduced stock-based compensation. For Q1 2026, the company reported total revenue of $422.9 million, a 12% decrease year-over-year, and a net loss of $(71.9) million, a significant improvement from the prior year. The company also repurchased $111 million of its shares and completed the sale of Care.com for $296 million.
Key Highlights
- To rebrand as People Incorporated (NASDAQ: PPLI) by Q2 2026, streamlining corporate functions.
- Expected annual run-rate operating expense savings of $40 million and $20-$25 million in reduced stock-based compensation.
- Q1 2026 total revenue decreased 12% to $422.9 million.
- Q1 2026 net loss improved to $(71.9) million from $(216.8) million in Q1 2025.
- People Inc. Digital revenue grew 8% to $253 million, with Digital Adjusted EBITDA up 20% to $50 million.
- Repurchased 2.9 million common shares for $111 million since Q4 2025 earnings.
- Completed the sale of Care.com for net proceeds of $296 million.
- Ceased operations of the Search business, which will be reported as discontinued operations from Q2 2026.