Ziff Davis, Inc. · NASDAQ:ZD

Ziff Davis — Q3 2026 Earnings Presentation

21 slides from Ziff Davis's earnings presentation, Nov 6, 2026

Slide 2: Forward-Looking Statements
2 Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations or beliefs as of November 5, 2026 (“Release Date”) and are subject to
Slide 3: Risk Factors
3 Some factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements contained in this presentation include, but are not limited to, our ability and intention to: • Create compelling digital media content facilitating increased traffic
Slide 4: Q3 2026 Consolidated Financial Snapshot - Continuing Operations
4 $306.5 $289.3 Q3 2025 Q3 2026 (5.6)% $97.8 $82.2 Q3 2025 Q3 2026 $1.40 $1.39 Q3 2025 Q3 2026 (16.0)% (0.7)% Adjusted EBITDA (2) (in millions) Adjusted diluted EPS (2) Revenues (in millions) Q3 2026 Consolidated Financial Snapshot - Continuing Operations (1) 1. During the second quarter of 2026, th
Slide 5: Revenue by Type - Continuing Operations
5 $101 $98 Q3 2025 Q3 2026 Revenue by Type - Continuing Operations (1)(2) $202 $186 Q3 2025 Q3 2026 (7.7)% 1. Throughout this presentation, revenues are net of inter-segment revenues and revenues by revenue source may not foot to total revenues due to rounding. 2. Excludes revenues that are classifi
Slide 6: Technology & Shopping Segment
6 $84.2 $78.2 $2.8 $3.7 Q3 2025 Q3 2026 $27.4 $21.8 32.2% 26.6% Q3 2025 Q3 2026 Q3 2026 Technology & Shopping Segment Quarterly Revenues (in millions) Quarterly Adjusted EBITDA & Margin (1) (in millions) (3.8)% (20.4)% Other Subscription and Licensing Advertising and Performance Marketing 1. See "Su
Slide 7: Gaming & Entertainment Segment
7 $18.7 $15.0 39.2% 32.2% Q3 2025 Q3 2026 $31.9 $30.7 $15.7 $15.8 $0.1 Q3 2025 Q3 2026 Q3 2026 Gaming & Entertainment Segment Quarterly Revenues (in millions) Quarterly Adjusted EBITDA & Margin (1) (in millions) (2.1)% (19.8)% Other Subscription and Licensing Advertising and Performance Marketing 1.
Slide 8: Health & Wellness Segment
8 $38.0 $32.6 37.2% 35.2% Q3 2025 Q3 2026 $85.6 $77.3 $13.7 $13.5 $3.0 $1.7 Q3 2025 Q3 2026 Q3 2026 Health & Wellness Segment Quarterly Revenues (in millions) Quarterly Adjusted EBITDA & Margin (1) (in millions) (9.5)% (14.3)% Other Subscription and Licensing Advertising and Performance Marketing 1.
Slide 9: Cybersecurity & Martech Segment
9 $24.1 $22.7 33.7% 33.2% Q3 2025 Q3 2026 $69.1 $65.5 $2.3 $2.8 Q3 2025 Q3 2026 Q3 2026 Cybersecurity & Martech Segment Quarterly Revenues (in millions) Quarterly Adjusted EBITDA & Margin (1) (in millions) (4.6)% (5.8)% Other Subscription and Licensing 1. See "Supplemental Information" for non-GAAP
Slide 10: Ziff Davis Capital Structure
10 ($ in millions) September 30, 2026 Cash and Cash Equivalents $ 1,408 Long-term Investments 100 Total Cash, Cash Equivalents, and Long-term Investments $ 1,508 4.625% Senior Notes $ 460 1.75% Convertible Notes (1) 149 3.625% Convertible Notes 263 Total Gross Debt (2) $ 872 Multiple of Q3 2026 TTM
Slide 11: Ziff Davis Share Count
11 Ending Shares Outstanding (in millions) Ziff Davis Share Count (1) 1. Share count as of November 2, 2026. 47.3 46.1 42.9 38.4 33.1 2022 YE 2023 YE 2024 YE 2025 YE 2026 YTD
Slide 12: Supplemental Information
SUPPLEMENTAL INFORMATION
Slide 13: Non-GAAP Financial Measures
13 Non-GAAP Financial Measures The below non-GAAP financial measures are not measures presented in accordance with GAAP, and our use of these terms may vary from that of other companies, limiting their usefulness for comparison purposes. These non-GAAP financial measures are not based on any compreh
Slide 14: Quarterly Results from Continuing Operations
14 Quarterly Results from Continuing Operations Q3 2026 Q2 2026 Q1 2026 FY 2025 (1) Q4 2025 (1) Q3 2025 (1) Q2 2025 (1) Q1 2025 (1) $ in 000's, except per share amounts Revenues $ 289,326 $ 286,738 $ 267,641 $ 1,220,535 $ 346,384 $ 306,532 $ 294,803 $ 272,816 Adjusted EBITDA $ 82,220 $ 76,844 $ 63,3
Slide 15: Adjusted EBITDA Reconciliation
15 $ in 000's Ziff Davis Three months ended September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Net (loss) income from continuing operations $ (28,692) $ (52,153) $ (775) $ (17,962) $ (15,957) $ 14,308 Interest (income) expense, net (1,825) 5,770 6,896
Slide 16: Adjusted Net Income and EPS Reconciliation
16 $ in 000's, except per share amounts Ziff Davis Three months ended September 30, 2026 Per diluted share (1) June 30, 2026 Per diluted share (1) March 31, 2026 Per diluted share (1) December 31, 2025 Per diluted share (1) September 30, 2025 Per diluted share (1) June 30, 2025 Per diluted share (1)
Slide 17: Adjusted EBITDA by Segment
17 Q3 2026 Technology & Shopping Gaming & Entertainment Health & Wellness Cybersecurity & Martech Corporate Total $ in 000's Revenues $ 81,980 $ 46,599 $ 92,545 $ 68,202 $ — $ 289,326 Operating (loss) income $ (38,798) $ 11,057 $ 17,312 $ 4,081 $ (27,262) $ (33,610) Depreciation and amortization 20,
Slide 18: Q3 2026 GAAP to Adjusted Non-GAAP Amounts
18 Q3 2026 GAAP amount Interest, net Provision for credit losses on investments (Income) loss from equity method investments, net Amortization Share-based compensation Transaction, integration, and other charges Long-lived asset impairments and other charges Goodwill impairment Adjusted non- GAAP am
Slide 19: Free Cash Flow from Continuing and Discontinued Operations
19 $ in 000's Ziff Davis Three months ended September 30, Nine months ended September 30, 2026 2025 2026 2025 Net cash (used in) provided by operating activities from continuing and discontinued operations $ (77,099) $ 138,299 $ 41,817 $ 215,986 Less: Purchases of property and equipment (22,966) (30
Slide 20: Key Operating Metrics by Segment - Advertising and Performance Marketing
20 2025 2026 Q3 Q3 Technology & Shopping Net advertising and performance marketing revenue retention (1) 94.0% 87.0% Customers (2) 634 717 Quarterly revenue per customer (3) $132,849 $109,111 Gaming & Entertainment Net advertising and performance marketing revenue retention (1) 88.8% 84.7% Customers
Slide 21: Key Operating Metrics by Segment - Subscription and Licensing
21 2025 2026 Q3 Q3 Gaming & Entertainment Customers (1)(2) 514,000 483,000 Average quarterly revenue per customer (2)(3) $30.49 $32.66 Health & Wellness Customers (1)(2) 1,902,000 1,480,000 Average quarterly revenue per customer (2)(3) $7.17 $8.41 Cybersecurity & Martech Customers (1)(4) 1,232,000 1

Ziff Davis — Q3 2026 Earnings Presentation on 6ix

Ziff Davis — Q3 2026 Earnings Presentation

Slide 1: Third Quarter 2026 Results

Slide 2: Forward-Looking Statements

Slide 3: Risk Factors

Slide 4: Q3 2026 Consolidated Financial Snapshot - Continuing Operations

Slide 5: Revenue by Type - Continuing Operations

Slide 6: Technology & Shopping Segment

Slide 7: Gaming & Entertainment Segment

Slide 8: Health & Wellness Segment

Slide 9: Cybersecurity & Martech Segment

Slide 10: Ziff Davis Capital Structure

Slide 11: Ziff Davis Share Count

Slide 12: Supplemental Information

Slide 13: Non-GAAP Financial Measures

Slide 14: Quarterly Results from Continuing Operations

Slide 15: Adjusted EBITDA Reconciliation

Slide 16: Adjusted Net Income and EPS Reconciliation

Slide 17: Adjusted EBITDA by Segment

Slide 18: Q3 2026 GAAP to Adjusted Non-GAAP Amounts

Slide 19: Free Cash Flow from Continuing and Discontinued Operations

Slide 20: Key Operating Metrics by Segment - Advertising and Performance Marketing

Slide 21: Key Operating Metrics by Segment - Subscription and Licensing