BuzzFeed, Inc. BZFD
For convenience, the terms "BuzzFeed," the "Company," "we," "us," or "our" used in this Annual Report on Form 10-K refer to BuzzFeed, Inc. and one or more of our consolidated subsidiaries, unless the context otherwise requires.
On December 3, 2021, we consummated a business combination (the "Business Combination") with 890 5th Avenue Partners, Inc. ("890"), certain wholly-owned subsidiaries of 890, and BuzzFeed, Inc., a Delaware corporation ("Legacy BuzzFeed"). In connection with the Business Combination, we acquired 100% of the membership interests of CM Partners, LLC. CM Partners, LLC, together with Complex Media, Inc., is referred to herein as "Complex Networks." Following the closing of the Business Combination, 890 was renamed "BuzzFeed, Inc."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $185.3M | $189.9M | $230.4M | $325.8M | $383.8M | $321.3M | $317.9M | — |
| R&D | $10.8M | $10.9M | $11.2M | $27.1M | $24.7M | $17.7M | $21.1M | — |
| SG&A | $50.4M | $58.6M | $78.0M | $111.4M | $108.7M | $83.1M | $87.4M | — |
| Total operating expenses | $233.2M | $213.4M | $275.3M | $440.3M | $407.7M | $309.2M | $358.2M | — |
| Operating income | -$47.9M | -$23.5M | -$44.8M | -$114.6M | -$23.9M | $12.1M | -$40.3M | — |
| Interest expense | $5.7M | $6.8M | $6.5M | $6.4M | $2.5M | $923.0K | $1.4M | — |
| Pre-tax income | -$56.9M | -$33.3M | -$54.1M | -$114.8M | $1.1M | $12.1M | -$37.3M | — |
| Income tax | $386.0K | $662.0K | $1.6M | $2.7M | $2.7M | $941.0K | $358.0K | — |
| Net income | -$57.7M | -$10.1M | -$88.6M | -$201.0M | $24.7M | $10.3M | -$37.2M | — |
| EPS, basic | -1.53 | -0.27 | -2.48 | -5.82 | 0.00 | 0.00 | -3.15 | — |
| EPS, diluted | -1.53 | -0.27 | -2.48 | -5.82 | -0.03 | 0.00 | -3.15 | — |
| Shares, diluted (wtd. avg.) | $37.8M | $37.4M | $35.8M | $34.5M | $28.0M | $11.9M | $11.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $8.5M | $22.4M | $10.6M | $55.8M | $79.7M | $106.1M | $74.0M | $77.4M |
| Receivables | $45.5M | $48.9M | $71.0M | $116.5M | $142.9M | $106.3M | — | — |
| Total current assets | $86.1M | $84.6M | $107.8M | $198.6M | $251.7M | $208.5M | — | — |
| Property, plant and equipment | $4.5M | $6.2M | $11.9M | $17.8M | $23.1M | $25.5M | — | — |
| Goodwill | $13.1M | $43.3M | $43.3M | $43.3M | $188.5M | $0 | — | — |
| Other intangibles | $10.2M | $11.8M | $12.9M | $31.0M | $136.5M | $1.4M | — | — |
| Total assets | $188.1M | $221.4M | $411.5M | $530.0M | $637.2M | $279.2M | — | — |
| Accounts payable | $19.5M | $14.3M | $45.7M | $29.3M | $16.0M | $8.4M | — | — |
| Short-term debt | $30.5M | $25.5M | $125.0M | $0 | — | — | — | — |
| Total current liabilities | $95.2M | $96.8M | $227.8M | $122.9M | $94.1M | $57.2M | — | — |
| Long-term debt | $27.9M | $0 | $33.8M | $152.3M | $141.9M | $20.4M | — | — |
| Total liabilities | $138.1M | $114.5M | $300.3M | $335.4M | $262.3M | $97.3M | — | — |
| Retained earnings | -$679.6M | -$621.9M | -$611.8M | -$523.1M | -$322.1M | -$346.8M | — | — |
| Total equity | $49.4M | $104.8M | $111.2M | $194.6M | $372.6M | -$313.8M | -$323.4M | -$290.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$18.7M | -$20.7M | -$6.1M | -$7.9M | $797.0K | $27.6M | -$20.2M | — |
| Depreciation and amortisation | $15.8M | $19.1M | $20.3M | $22.7M | $22.1M | $17.5M | $19.4M | — |
| Stock-based compensation | $5.8M | $5.5M | $5.3M | $18.6M | $23.6M | $1.2M | $2.8M | — |
| Capital expenditure | $2.0M | $691.0K | $964.0K | $5.4M | $5.0M | $4.7M | $423.0K | — |
| Investing cash flow | -$14.1M | $178.7M | -$14.7M | -$17.3M | -$208.0M | -$14.8M | $16.4M | — |
| Financing cash flow | $21.6M | -$154.6M | $812.0K | $3.2M | $181.8M | $19.5M | $195.0K | — |
| Buybacks | $3.3M | $0 | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001828972-26-000030.
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