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IAC InterActiveCorp. (IAC)

IAC/InterActiveCorpare is guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC 25 years ago have emerged 10 public companies and generations of exceptional leaders. company will always evolve, but its basic principle of financially-disciplined opportunism will never change. IAC today operates Vimeo, Dotdash and Care.com, among many others, and has majority ownership of ANGI Homeservices, which includes HomeAdvisor, Angie’s List and Handy. The company is headquartered in New York City and has business operations and satellite offices worldwide.

Company profile

Ticker
IAC
Exchange
Website
Employees
Incorporated
Location
Fiscal year end
Former names
IAC Holdings, Inc.
SEC CIK
Subsidiaries
24apps GmbH • AB Licensing, LLC • About Dotdash UK Limited • About Insurance Services, LLC • Accellab, LLC • AHWC, Inc. • Allrecipes.com, Inc. • ANGI Group, LLC • Angi Inc. • Angi Roofing, LLC ...
IRS number
843727412

IAC stock data

Calendar

9 May 22
17 May 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.87B 1.87B 1.87B 1.87B 1.87B 1.87B
Cash burn (monthly) 82.4M 171.3M 103.79M 1.55M (no burn) (no burn)
Cash used (since last report) 127.93M 265.96M 161.13M 2.41M n/a n/a
Cash remaining 1.75B 1.61B 1.71B 1.87B n/a n/a
Runway (months of cash) 21.2 9.4 16.5 1207.9 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 May 22 Hammer Bonnie S Common Stock, par value $0.0001 Option exercise Acquire M No No 0 548 0 20,806
14 May 22 Hammer Bonnie S RSU Common Stock, par value $0.0001 Option exercise Dispose M No No 0 548 0 1,098
14 May 22 Clinton Chelsea Common Stock, par value $0.0001 Option exercise Acquire M No No 0 548 0 65,103
14 May 22 Clinton Chelsea RSU Common Stock, par value $0.0001 Option exercise Dispose M No No 0 548 0 1,098
14 May 22 Zannino Richard F Common Stock, par value $0.0001 Option exercise Acquire M No No 0 548 0 44,572
14 May 22 Zannino Richard F RSU Common Stock, par value $0.0001 Option exercise Dispose M No No 0 548 0 1,098
14 May 22 Eisner Michael D Common Stock, par value $0.0001 Option exercise Acquire M No No 0 548 0 47,318
14 May 22 Eisner Michael D RSU Common Stock, par value $0.0001 Option exercise Dispose M No No 0 548 0 1,098
14 May 22 Lourd Bryan Common Stock, par value $0.0001 Option exercise Acquire M No No 0 548 0 152,424
14 May 22 Lourd Bryan RSU Common Stock, par value $0.0001 Option exercise Dispose M No No 0 548 0 1,098
88.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 449 447 +0.4%
Opened positions 65 61 +6.6%
Closed positions 63 78 -19.2%
Increased positions 158 154 +2.6%
Reduced positions 135 142 -4.9%
13F shares Current Prev Q Change
Total value 9.68B 11.03B -12.3%
Total shares 74.08M 70.98M +4.4%
Total puts 115.4K 233.1K -50.5%
Total calls 69.1K 578.8K -88.1%
Total put/call ratio 1.7 0.4 +314.7%
Largest owners Shares Value Change
Vanguard 7.1M $927.64M +0.3%
TROW T. Rowe Price 6.34M $828.16M -1.2%
BLK Blackrock 3.93M $514M -16.5%
Canada Pension Plan Investment Board 3.88M $507.27M +0.1%
ShawSpring Partners 3.75M $489.87M +28.9%
First Manhattan 3.71M $484.64M +0.5%
MS Morgan Stanley 3.64M $475.9M -3.4%
JPM JPMorgan Chase & Co. 2.32M $303.51M +11.4%
Davis Selected Advisers 2.11M $276.11M -0.9%
Southeastern Asset Management 1.98M $259.37M +18.9%
Largest transactions Shares Bought/sold Change
Eagle Capital Management 1.25M +1.25M NEW
ShawSpring Partners 3.75M +840.9K +28.9%
BLK Blackrock 3.93M -777.75K -16.5%
Norges Bank 719.21K +719.21K NEW
Allspring Global Investments 540.94K +540.94K NEW
683 Capital Management 759.8K +452.9K +147.6%
Durable Capital Partners 1.06M -401.31K -27.5%
WFC Wells Fargo & Co. 150.16K -361.83K -70.7%
Southeastern Asset Management 1.98M +314.89K +18.9%
Incline Global Management 291.64K +291.64K NEW

Financial report summary

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Risks
  • Marketing efforts designed to drive visitors to our various brands and businesses may not be successful or cost-effective.
  • We rely on search engines to drive traffic to our various properties. Certain search engine operators offer products and services that compete directly with our products and services. If links to websites offering our products and services are not displayed prominently in search results, traffic to our properties could decline and our business could be adversely affected.
  • Certain of our businesses depend upon arrangements with Google.
  • Our success depends, in substantial part, on our continued ability to market, distribute and monetize our products and services through search engines, digital app stores, advertising networks and social media platforms.
  • Our success depends, in part, upon the continued migration of certain markets and industries online and the continued growth and acceptance of online products and services as effective alternatives to traditional offline products and services.
  • Our success depends, in part, on our continued ability to develop and monetize versions of our products and services for mobile and other digital devices.
  • Revenue from our Print business is declining.
  • Increases in paper and postage prices are difficult to predict and control.
  • We rely on a single supplier to print our magazines.
  • Our pension plan obligations could increase.
  • Our success depends, in part, on the ability of Angi Inc. and Care.com to establish and maintain relationships with quality and trustworthy service professionals and caregivers.
  • The Angi Inc. brand integration initiative may continue to involve substantial costs, including as a result of a continued negative impact on organic search placement, and may not be favorably received by customers and service professionals.
  • Our success depends, in part, on the ability of Angi Inc. to expand pre-priced offerings, while balancing the overall mix of service requests and directory services on Angi platforms generally.
  • Our ability to engage directly with our users, subscribers, consumers, service professionals and caregivers directly on a timely basis is critical to our success.
  • Our success depends, in part, on our ability to access, collect and use personal data about our users and subscribers.
  • Mr. Diller, certain members of his family and Mr. Levin are able to exercise significant influence over the composition of IAC’s Board of Directors, matters subject to stockholder approval and IAC’s operations.
  • Current and future indebtedness could affect our ability to operate our business, which could have a material adverse effect on our business, financial condition and results of operations.
  • We may not be able to generate sufficient cash to service all of our indebtedness.
  • Variable rate indebtedness subjects us to interest rate risk.
  • We may not freely access the cash of Dotdash Meredith and/or Angi Inc. and their respective subsidiaries.
  • You may experience dilution with respect to your investment in IAC, and IAC may experience dilution with respect to its investment in Angi Inc., as a result of compensatory equity awards.
  • Our businesses operate in especially competitive and evolving industries.
  • We are sensitive to general economic events and trends, particularly those that adversely impact consumer confidence and spending behavior.
  • Our success depends, in part, on our ability to build, maintain and/or enhance our various brands.
  • The global outbreak of COVID-19 and other similar outbreaks could adversely affect our business, financial condition and results of operations.
  • We may not be able to protect our systems, technology and infrastructure from cyberattacks and cyberattacks experienced by third parties may adversely affect us.
  • If personal, confidential or sensitive user information is breached or otherwise accessed by unauthorized persons, it may be costly to mitigate and our reputation could be harmed.
  • The processing, storage, use and disclosure of personal data could give rise to liabilities and increased costs.
  • Our success depends, in part, on the integrity, quality, efficiency and scalability of our systems, technology and infrastructure, and those of third parties.
  • We depend on our key personnel.
Management Discussion
  • •Dotdash Meredith revenue increased 113% to $456.3 million due to the contribution of $169.9 million from Meredith, acquired December 1, 2021, growth from Dotdash of $44.5 million, or 32%, in Display Advertising Revenue and $28.1 million, or 37%, higher Performance Marketing Revenue. The growth in Dotdash Display Advertising Revenue was driven by an increase in advertising sold at higher rates in 2021 through its direct sales and programmatic channels as the prior year rates were negatively impacted by COVID-19. The increase in Dotdash Performance Marketing Revenue was due primarily to growth in both affiliate commerce commission revenue and performance marketing commission revenue due to increased online sales and new performance marketing products.

Content analysis

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