BuzzFeed Inc (BZFD)

[PennyPusher786]

Third Quarter 2023 Financial and Operational Highlights

BuzzFeed delivered Q3 revenues of $73.3 million, declining 29% compared to the third quarter of 2022

Advertising revenue declined 35% year-over-year to $32.6 million

Content revenue declined 32% year-over-year to $26.2 million

Commerce and other revenues marginally declined 3% year-over-year to $14.5 million

Net loss was $13.9 million, compared to a net loss of $27.0 million in the third quarter of 2022

Adjusted EBITDA1 was $3.1 million, compared to Adjusted EBITDA loss of $2.4 million in the third quarter of 2022

Time Spent decreased 19% year-over-year to 92 million hours2

BuzzFeed ended the period with cash and cash equivalents of approximately $42 million

Fourth Quarter 2023 Financial Outlook

For the fourth quarter of 2023:

We expect overall revenues in the range of $99 to $110 million

We expect Adjusted EBITDA in the range of $20 to $30 million