ZDNasdaqTelegraph & Other Message CommunicationsUS GAAP · USD

Ziff Davis, Inc

Ziff Davis is a U.S.-based digital media and internet company organized around a portfolio of online brands in technology, shopping, gaming and entertainment, health and wellness, connectivity, cybersecurity, and martech. Its businesses combine editorial content, audience tools, broadband intelligence products, and cloud-based software services sold to consumers and businesses.

Revenue1,451m USD
+3.5 %y/y
Operating profit (EBIT)183m USD
+61.1 %y/y
EBIT margin12.6%
+4.5 ppy/y
Net income47.4m USD
−24.9 %y/y
Free cash flow288m USD
+1.5 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

05001,0001,500m USD2020: 1,159 m USD2020: EBIT 138 m USD20202021: 1,417 m USD2021: EBIT 167 m USD20212022: 1,391 m USD2022: EBIT 199 m USD20222023: 1,364 m USD2023: EBIT 133 m USD20232024: 1,402 m USD2024: EBIT 114 m USD20242025: 1,451 m USD2025: EBIT 183 m USD20251,451183
RevenueOperating profit (EBIT)

Business

Share of revenue
Digital Media45 %

Owned-and-operated websites and apps that publish editorial content, reviews, and tools.

Advertising and Performance Marketing30 %

Display, video, and performance-based advertising sold across owned and third-party channels.

Subscription and Licensing15 %

Consumer and business subscriptions, software licenses, and related support services.

Connectivity5 %

Broadband intelligence, network performance analytics, and wi-fi planning products.

Cybersecurity & Martech5 %

Cloud-based security, privacy, and marketing technology software and services.

Customers

Ziff Davis sells to a mix of consumers, advertisers, software users, broadband operators, and enterprises. Consumers use its editorial sites, subscriptions, and security/privacy products, while businesses buy advertising inventory, SaaS tools, broadband analytics, and martech solutions. Customer demand is tied to audience traffic, software utility, and the ability of the company’s brands to attract and retain users.

Consumers

Buy subscriptions, digital content, VPN, backup, and privacy tools for personal use.

Advertisers and agencies

Buy display, video, and performance marketing placements across owned media properties.

Small and mid-sized businesses

Buy cybersecurity, email security, and marketing technology tools to protect and grow operations.

Enterprises and broadband operators

Buy network intelligence, wi-fi planning, and performance analytics products.

Resellers and channel partners

Distribute cybersecurity and martech products where direct customer visibility is limited.

Strategy

Ziff Davis focuses on expanding its portfolio through product improvement, new offerings, acquisitions, and continued sales and marketing investment. The company also emphasizes monetizing trusted content and software brands across multiple verticals, which helps diversify revenue sources and reduce reliance on any single audience or product line.

Acquire and integrate complementary businessesMedium term

Acquisitions broaden the brand portfolio and add new monetization channels.

Improve product and content offeringsShort term

Better content and tools support audience growth and advertiser demand.

Expand customer acquisition channelsShort term

Multiple channels improve reach and reduce dependence on any single source.

Scale subscription and software monetizationMedium term

Recurring software and licensing revenue can diversify the media business mix.

Geography

2025

Ziff Davis is headquartered in the United States and operates a business with both domestic and international customers. The company discloses cash and investments held in domestic and foreign jurisdictions, indicating some overseas operating exposure, but the core business remains centered on U.S.-based brands and global online distribution. Geography matters because advertising demand, data privacy rules, currency movements, and broadband/cybersecurity adoption can vary by market.

United States84 %
Other countries (US filing)16 %

Share of the revenue the company reports by geography.

Risks

Ziff Davis depends heavily on digital advertising, search traffic, and the continued appeal of its content and software brands, so changes in audience behavior or advertiser budgets can affect demand. The company also faces cybersecurity, AI content misuse, tax, legal, and debt-related risks, along with competition from large internet platforms and specialized software vendors.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Dependence on short-term advertising arrangements1Search engine traffic dependence2Cybersecurity and system failures3Leverage and debt servicing4AI-related content and IP infringement5Competition from large platforms and niche peers6
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Dependence on short-term advertising arrangementsImpact: HighLikelihood: Medium

    Digital media revenue can fall if advertisers cut budgets or audience traffic weakens.

    ExposureTechnology & ShoppingGaming & EntertainmentHealth & Wellness
  2. Search engine traffic dependenceImpact: HighLikelihood: Medium

    Many brands rely on search referrals, so algorithm changes can reduce visits and monetization.

    Exposure: Owned-and-operated media properties

  3. Cybersecurity and system failuresImpact: HighLikelihood: Medium

    The company operates online services and data-driven products that require reliable systems.

    ExposureCybersecurity & MartechConnectivity
  4. Leverage and debt servicingImpact: HighLikelihood: Medium

    Outstanding debt requires cash for interest, refinancing, and covenant management.

    Exposure: Corporate liquidity and capital allocation

  5. AI-related content and IP infringementImpact: MediumLikelihood: Medium

    Unauthorized use of content by AI developers or users could impair content value and rights.

    Exposure: Digital media brands and proprietary content

  6. Competition from large platforms and niche peersImpact: MediumLikelihood: Medium

    Alphabet, Meta, and specialized media/software rivals compete for users, advertisers, and customers.

    Exposure: All segments

Accounting

Judgemental items
Revenue recognition by business line

Advertising, subscriptions, licenses, and other services are recognized differently and affect quarterly comparability.

Impact: Timing of revenue and margin recognition

Customer metrics and reseller accounting

Reported customer counts include quarterly averages and resellers may count as one customer, affecting KPI interpretation.

Impact: Subscription and licensing operating metrics

Goodwill and intangible asset impairment

Acquisitions create goodwill and intangibles that require periodic impairment testing.

Impact: Non-cash charges and segment profitability

Foreign currency exposure

International operations and foreign cash balances can create translation and transaction effects.

Impact: Reported earnings and balance sheet values

Debt and convertible notes

Outstanding debt affects interest expense, refinancing risk, and liquidity disclosures.

Impact: Cash flow and leverage analysis

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Ziff Davis, Inc (ZD) Revenue, Earnings & Financials 2025 – Clarifo