BuzzFeed (BZFD) 2026年第三季度财报电话会：营收降至2600万美元

核心要点

• 2026年第三季度营收为2600万美元，低于2025年第三季度的4630万美元。上年同期包含与亚马逊Prime Day相关的约700万美元收入，而2026年第三季度并无同类活动。
• 广告业务营收为1540万美元，内容业务营收为580万美元，电商及其他业务营收为480万美元。
• 净亏损达1870万美元，其中包括710万美元的一次性重组费用。调整后EBITDA为负480万美元。
• BuzzFeed于7月完成了对员工及专职合同工约35%的裁减。管理层预计该重组将带来约3000万美元的年化成本节约。
• 该公司公布第三季度总使用时长为5070万小时。在其同类竞争群体中，BuzzFeed在Z世代和千禧一代的使用时长方面位列第一，达到950万小时，环比增长1.5%。
• 在整合5月份完成的Allen Family Digital交易以及推进7月份重组期间，BuzzFeed推迟了提供财务前景指引。

核心财务数据

2025年第三季度营收包含与亚马逊Prime Day相关的约700万美元。2026年第三季度则没有亚马逊Prime Day的收入贡献。

业务与运营表现

BuzzFeed表示，其旗下品牌组合拥有超过7亿社交媒体粉丝、7500万月活跃用户，以及每月20亿次内容浏览量。其核心品牌包括BuzzFeed、Tasty和HuffPost。

来自网站和App的直接访问及引流占BuzzFeed自有与自营平台美国流量的67%，高于上一季度的65%。管理层表示，这反映了公司在建立受众直接联系以及减少对第三方平台和算法依赖方面取得的进展。

该公司于7月完成了对其员工及专职合同工约35%的裁减。随着运营团队的精简，此次重组暂时减少了内容产出，从而对使用时长、被动广告和联盟电商业务造成了影响。

BuzzFeed计划拓展其优质内容、视频和社交媒体业务，并计划在2027年推出由知名创作者和一线明星出演的新节目。管理层还将现场活动、音乐、喜剧、体育、新闻、联网电视和竖屏视频列为机遇领域。

管理层业绩指引

管理层预计此次重组将以约700万美元的一次性成本，实现约3000万美元的年化成本节约。超过一半的相关遣散费及其他现金款项已在第三季度完成支付，剩余大部分预计将在第四季度支付。

由于仍在推进Allen Family Digital交易的整合及7月份的重组工作，BuzzFeed推迟了发布更广泛的财务前景展望。该公司表示，其运营重点是打造更具可持续性、更具成本效益的内容，实现盈利以及正向现金流。

风险与关注重点

重组导致内容产出短期内出现下滑，并对使用时长、被动广告和联盟电商业务造成了影响。此外，剩余的遣散费支付也将继续对第四季度的现金流产生影响。

由于2026年第三季度缺少亚马逊Prime Day活动，营收的可比性受到了影响。此外，公司推迟发布业绩指引也反映了整合近期战略与运营变革所带来的不确定性。

财报电话会议完整实录

完整财报电话会议逐字稿

管理层陈述

Operator

[Operator Instructions]

Please be advised that today's conference is being recorded. I would now like to hand the conference over to Matt Omer, Chief Financial Officer. Please go ahead.

Matt Omer

Hi everyone, welcome to BuzzFeed, Inc.'s third quarter 2026 earnings conference call. I'm Matt Omer, CFO of BuzzFeed. Joining me today is Chairman and CEO Jonah Peretti. Before we get started, I would like to take this opportunity to remind you that our remarks today will include forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forth in the press release and the Form 10-Q to be filed with the SEC. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events.

During this call, we present both GAAP and non-GAAP financial measures, including adjusted EBITDA and adjusted EBITDA margin. The use of non-GAAP financial measures allows us to measure the operational strength and performance of our business to establish budgets and to develop operational goals for managing our business. We believe adjusted EBITDA and adjusted EBITDA margin are relevant and useful information for investors because they allow investors to view performance in a manner similar to the method used by our management. A reconciliation of these GAAP to non-GAAP measures is included in the earnings press release. Please refer to our Investor Relations website to find the press release. Now, I'll pass the call over to [ Byron ].

Jonah Peretti

Good afternoon, everyone, and thanks for joining us. BuzzFeed, Tasty, and HuffPost are beloved, recognizable brands with loyal, direct audiences. I invested in BuzzFeed because I believe in these brands and their growth potential. As we previously discussed, however, our call to action is not yet complete. Cost structure needed to be aligned with the realities of today's market. At the core of our businesses are three popular brands with engaged audiences, particularly among Gen Z and Millennials. Across our portfolio, BuzzFeed, Inc. has more than 700 million social media followers, 75 million monthly active users, and 2 billion monthly content views, while HuffPost maintains a highly loyal direct audience.

In the third quarter 2026, BuzzFeed, Inc. ranked #1 in time spent among Gen Z and Millennials within our competitive set, generating 9.5 million hours, up 1.5% from the previous quarter. Direct visits and referrals from our websites and apps accounted for 67% of U.S. traffic to BuzzFeed's owned and operated properties in the third quarter, up from 65% in the prior quarter. This reflects our progress in building direct audience relationships and reducing our reliance on third-party platforms and their algorithms. On the BuzzFeed Studio side, we have an opportunity to unlock significant value for our shareholders and partners. BuzzFeed is growing its premium content, video, and social media businesses with a slate of new shows featuring top creators and A-list talent planned for 2027. And the vertical video content continues to have strong consumer demand. Our goal and our strategy this fourth quarter is to bring compelling content to audiences wherever they are, across digital platforms and connected TV.

We see opportunities to expand our video and streaming capabilities, including through live events, music, comedy, sports, and news. Ultimately, technology and distribution are only as valuable as the content they deliver. By combining our brands and storytelling capabilities, we believe we can engage audiences at scale and build new opportunities to monetize that engagement. I am completely energized by the progress we're making towards positioning BuzzFeed to be a premier global free streaming platform. Now I'll hand it over to Matt, our CFO, who will walk you through our third quarter financial results.

Matt Omer

Thanks, Jonah. The third quarter was a transitional quarter. We completed an approximate 35% reduction in our workforce and dedicated contractors in July. The restructuring is expected to yield approximately $30 million in annualized savings, but at a cost of $7 million in one-time expenses. From a cash perspective, more than half of the severance and related payments were paid in the third quarter, with the remainder largely to be paid in the fourth quarter. As expected, this restructuring resulted in a short-term decrease in the amount of content we generated as we streamlined operational teams. Short-term decrease in content generation is reflected in the decrease in time spent, along with passive advertising and affiliate commerce. We are laser-focused on innovating with more sustainable, cost-effective content and achieving profitability and positive cash flow. Turning to Q3 results. Total revenue for the three months ending September 30, 2026 was $26 million, compared to $46.3 million in Q3 2025.

However, it's important to note that Q3 2025 included approximately $7 million of revenue related to Amazon Prime Day, and there was no Amazon Prime Day in Q3 2026. So for the three months ending September 30, 2026, advertising revenue was $15.4 million. Content revenue was $5.8 million. And commerce and other revenue was $4.8 million. But once again, it's important to note that Q3 2025 included approximately $7 million of revenue related to Amazon Prime Day, and there was no Amazon Prime Day in Q3 2026. Net loss was $18.7 million in Q3 2026. Again, the third quarter reflected $7.1 million in one-time restructuring expenses.

Adjusted EBITDA was negative $4.8 million. Q3 2026 time spent was 50.7 million hours. Following a transformative year that included the Allen Family Digital transaction in May and the restructuring announced in July, we are deferring our financial outlook as we continue to integrate these changes. That's all for now. I'll turn the call back to the operator for questions. Thank you.

Operator

There are no questions right now in our Q&A session, so we will now be concluding our call. Thank you, everyone, for participating in today's conference. You may now disconnect the call. Thank you so much.

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