0001628280-26-029798 | 10-Q | XBRL Viewer

SEGMENT INFORMATION - Revenue Disaggregated by Service (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Revenue	$ 422,893	$ 481,686
Operating Segments \| People Inc.
Segment Reporting Information [Line Items]
Revenue	385,729	393,071
Operating Segments \| Digital
Segment Reporting Information [Line Items]
Revenue	253,223	234,520
Operating Segments \| Digital \| Advertising revenue
Segment Reporting Information [Line Items]
Revenue	146,424	144,873
Operating Segments \| Digital \| Performance marketing revenue
Segment Reporting Information [Line Items]
Revenue	66,115	57,266
Operating Segments \| Digital \| Licensing and other revenue
Segment Reporting Information [Line Items]
Revenue	40,684	32,381
Operating Segments \| Print
Segment Reporting Information [Line Items]
Revenue	137,837	163,270
Operating Segments \| Print \| Performance marketing revenue
Segment Reporting Information [Line Items]
Revenue	5,940	8,189
Operating Segments \| Print \| Subscription revenue
Segment Reporting Information [Line Items]
Revenue	61,412	74,346
Operating Segments \| Print \| Advertising revenue
Segment Reporting Information [Line Items]
Revenue	29,626	37,243
Operating Segments \| Print \| Newsstand revenue
Segment Reporting Information [Line Items]
Revenue	27,929	28,095
Operating Segments \| Print \| Project and other revenue
Segment Reporting Information [Line Items]
Revenue	12,930	15,397
Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	17,096	70,329
Operating Segments \| Search \| Advertising revenue
Segment Reporting Information [Line Items]
Revenue	17,083	70,320
Operating Segments \| Search \| Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	17,076	70,214
Operating Segments \| Search \| Non-Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	7	106
Operating Segments \| Search \| Other revenue
Segment Reporting Information [Line Items]
Revenue	13	9
Intersegment eliminations
Segment Reporting Information [Line Items]
Revenue	(10)	(1)
Intersegment eliminations \| People Inc.
Segment Reporting Information [Line Items]
Revenue	$ (5,331)	$ (4,719)

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1—THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Company Overview

IAC today primarily comprises leading publisher People Inc. and its strategic equity positions in MGM Resorts International (“MGM”) and Turo Inc. (“Turo”).

As used herein, “IAC,” the “Company,” “we,” “our,” “us” and other similar terms refer to IAC Inc. and its subsidiaries (unless the context requires otherwise).

IAC Corporate Restructuring

On April 28, 2026, IAC announced it is changing its name to “People Incorporated” as it continues to sharpen its focus on its People Inc. business and its investment in MGM.

Ahead of its name change to “People Incorporated,” which is expected to occur in or before August 2026, the Company has initiated a plan to consolidate its corporate functions with those of People Inc. through a reduction in workforce, technology integrations and other cost-saving measures over the coming quarters (the “Plan”). The Plan is expected to be completed by the first quarter of 2027.

The Company expects to incur approximately $14.0 million in severance and related expenses, of which $10.3 million was accrued at March 31, 2026 and is included in “General and administrative expense” in the statement of operations, $48.0 million in stock-based compensation expense and $0.5 million to $1.0 million in other costs related to the Plan. The aforementioned stock-based compensation expense includes approximately $16.0 million of expense that accelerates based on the original terms of employee award agreements and $32.0 million of expense associated with awards that were modified to vest in connection with the Plan. The total costs expected to be incurred in connection with the Plan are approximately $63.0 million. The estimates of the charges and expenditures that the Company expects to incur in connection with the Plan, and the timing thereof, are subject to a number of assumptions and actual amounts may differ materially from these estimates. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur in connection with the implementation of the Plan.

As the Company moves away from its holding company structure and in connection with the Plan, Christopher Halpin will cease to serve as Executive Vice President, Chief Operating Officer and Chief Financial Officer of the Company, and Kendall Handler will cease to serve as Executive Vice President and Chief Legal Officer of the Company, in each case, effective on the filing of the Company’s Form 10-Q for the quarter ending June 30, 2026 or such earlier date on which the executive’s employment with the Company is terminated for any other reason (the “Separation Effective Date”). The Company expects that, upon the Separation Effective Date, Neil Vogel, who currently serves as Chief Executive Officer of People, will become Chief Executive Officer of the Company, and Tim Quinn, who currently serves as the Chief Financial Officer of People, will become Chief Financial Officer of the Company. Mr. Halpin and Ms. Handler have each entered into employment transition agreements with the Company, each dated April 27, 2026, pursuant to which each executive will continue to serve in their respective positions through the Separation Effective Date.

Discontinued Operations

Sale of Care.com

On March 16, 2026, IAC completed the sale of its wholly-owned subsidiary, Care.com, for net proceeds of $295.7 million. As a result of the transaction, the consolidated operations of Care.com are presented as discontinued operations within IAC’s consolidated financial statements for all periods prior to March 16, 2026.

Angi Inc. Distribution

On March 31, 2025, IAC completed the spin-off of Angi Inc. (“Angi”) by means of a special dividend (the “Distribution”) of all shares of Angi capital stock held by IAC to holders of its common stock and Class B common stock. Following the Distribution, IAC no longer owns any shares of Angi’s capital stock and Angi became an independent public company. As a result of the Distribution, the consolidated operations of Angi are presented as discontinued operations within IAC’s consolidated financial statements for all periods prior to March 31, 2025.

See “Note 12—Discontinued Operations” for additional information.

Basis of Presentation

The Company prepares its consolidated financial statements (referred to herein as “financial statements”) in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). The financial statements include all accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. All intercompany transactions and balances between entities comprising the Company have been eliminated.

The unaudited interim financial statements have been prepared in accordance with GAAP for interim financial information and with the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the unaudited interim financial statements include all normal recurring adjustments considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The unaudited interim financial statements should be read in conjunction with the annual audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

Accounting Estimates

Management of the Company is required to make certain estimates, judgments and assumptions, if applicable, during the preparation of its financial statements in accordance with GAAP. These estimates, judgments and assumptions affect the amounts reported in the financial statements and the disclosures in the accompanying notes. Actual results could differ from these estimates.

On an ongoing basis, the Company evaluates its estimates, judgments and assumptions, if applicable, including those related to: the fair value of cash equivalents; the carrying value of accounts receivable, including the determination of the allowance for credit losses; the recoverability of right-of-use assets (“ROU assets”); the useful lives and recoverability of buildings, equipment, leasehold improvements and capitalized software and definite-lived intangible assets; the recoverability of goodwill and indefinite-lived intangible assets; the fair value of equity securities without readily determinable fair values; the fair value of interest rate swaps; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; pension and post-retirement benefit plan assets and liabilities, including actuarial assumptions regarding discount rates, expected returns on plan assets, inflation and healthcare costs; and the fair value of and forfeiture rates for stock-based awards, among others. The Company bases its estimates, judgments and assumptions on historical experience, its forecasts and budgets and other factors that the Company considers relevant.

General Revenue Recognition

The Company accounts for a contract with a customer when it has approval and commitment from all authorized parties, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of the consideration is probable. Revenue is recognized when control of the promised services or goods is transferred to the Company’s customers and in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or goods.

The Company’s disaggregated revenue disclosures are presented in “Note 5—Segment Information.”

Practical Expedients and Exemptions

For contracts that have an original duration of one year or less, the Company uses the practical expedient available under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), applicable to such contracts and does not consider the time value of money.

In addition, as permitted under the practical expedient available under ASC 606, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is tied to sales-based or usage-based royalties, allocated entirely to unsatisfied performance obligations, or to a wholly unsatisfied promise accounted for under the series guidance and (iii) contracts for which the Company recognizes revenue at the amount which it has the right to invoice for services performed.

The Company also applies the practical expedient to expense commissions paid pursuant to sales incentive programs as incurred where the anticipated customer relationship period is one year or less.

Deferred Revenue

Deferred revenue consists of payments received or amounts contractually due in advance of the Company's performance obligation. The Company’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the remaining term or expected completion of its performance obligation is one year or less.

The following table presents the changes in deferred revenue:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Balance at January 1	$	19,068	$	20,309
Beginning deferred revenue balance recognized during the period	(15,309)		(16,124)
Net change primarily due to timing of collections and recognition	17,374		16,160
Balance at March 31	$	21,133	$	20,345

Non-current deferred revenue was $0.2 million and less than $0.1 million at March 31, 2026 and December 31, 2025, respectively and is included in “Other long-term liabilities” in the balance sheet.

Certain Risks and Concentrations

Services Agreement with Google and the Shutdown of the Search Segment

On December 10, 2025, the Company received a notice of non-renewal (the “Notice”) from Google of the services agreement, dated October 26, 2015 and as subsequently amended (the “Services Agreement”). As a result of the Notice, the Services Agreement was due to expire on March 31, 2026; the Services Agreement was extended through April 30, 2026, at which point the Services Agreement expired.

All revenue attributable to the Services Agreement was earned exclusively by the Company’s Search segment. The Company earns certain other advertising revenue from Google that is not attributable to the Services Agreement, and such advertising revenue is not affected by the expiration of the Services Agreement. A portion of the Company’s net cash from operating activities that it could freely access was attributable to revenue earned pursuant to the Services Agreement.

The following table presents revenue earned by the Company from Google and revenue earned by the Company’s Search segment from the Services Agreement:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Total Google revenue	$	38,474	$	96,945
As a percentage of total revenue	9%		20%

Services Agreement revenue	$	16,913	$	69,829
As a percentage of total Search revenue	99%		99%
As a percentage of total revenue	4%		14%

In connection with the expiration of the Services Agreement the Company ceased operations of its Search segment. The operations of the Search segment will be presented as discontinued operations within IAC’s financial statements in the second quarter of 2026 and prior periods will reflect Search as discontinued operations to conform to this presentation.

Recent Accounting Pronouncements Not Yet Adopted by the Company

ASU No. 2024-03—Income Statement-Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)—Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU No. 2024-03, which is intended to provide users of financial statements with more decision-useful information about expenses of a public business entity, primarily through enhanced disclosures of certain components of expenses commonly presented within captions on the statement of operations, such as purchases of inventory, employee compensation, depreciation and amortization, as well as a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU No. 2024-03 also requires disclosure of the total amount of selling expenses and, in annual reporting periods, the definition of selling expenses. ASU No. 2024-03 is effective for fiscal years beginning after December 15, 2026 and for interim periods beginning after December 15, 2027. Early adoption is permitted and ASU No. 2024-03 may be applied either prospectively or retrospectively. ASU No. 2024-03 does not affect the Company’s results of operations, financial condition or cash flows. The Company plans to apply ASU 2024-03 on a prospective basis and does not plan to early adopt ASU No. 2024-03; the Company is currently assessing its impact on its disclosures.

ASU No. 2025-06—Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to Accounting for Internal-Use Software

In September 2025, the FASB issued ASU No. 2025-06, which amends the existing standard by removing references to software development project stages and clarifying the criteria for capitalization. ASU No. 2025-06 is effective for fiscal years beginning after December 15, 2027 and for interim periods within those fiscal years. Early adoption is permitted, and ASU No. 2025-06 may be applied prospectively, retrospectively or with a modified transition approach. The Company expects to adopt ASU No. 2025-06 on a prospective basis and is assessing its impact on its results of operations, financial condition and cash flows.

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities attributable to continuing operations:
Net loss	$ (70,670)	$ (214,568)
Less: Loss on the sale of Care.com, net of income taxes	(75,643)	0
Less: Earnings from discontinued operations, net of income taxes	7,225	43,774
Net loss attributable to continuing operations	(2,252)	(258,342)
Adjustments to reconcile net loss attributable to continuing operations to net cash provided by (used in) operating activities attributable to continuing operations:
Amortization of intangibles	19,040	22,418
Stock-based compensation expense	16,412	(21,390)
Non-cash lease expense (including right-of-use asset impairments)	7,543	8,724
Depreciation	7,314	11,241
Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses	4,574	7,538
Unrealized (gain) loss on investment in MGM Resorts International	(34,005)	324,265
Deferred income taxes	(15,121)	(63,833)
Gain on sale of an unutilized domain name	(7,500)	0
Net gains on amendments and early terminations of lease agreements	0	(36,038)
Other adjustments, net	2,828	1,348
Changes in assets and liabilities, net of effects of dispositions:
Accounts receivable	86,268	76,641
Other assets	(940)	(32,650)
Operating lease liabilities	(14,545)	(33,950)
Accounts payable and other liabilities	(61,564)	(35,588)
Income taxes payable and receivable	(635)	1,611
Deferred revenue	2,547	694
Net cash provided by (used in) operating activities attributable to continuing operations	9,964	(27,311)
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(7,961)	(4,136)
Net proceeds from the sale of Care.com	295,697	0
Purchase of MGM Resorts International common shares	(37,232)	0
Allocation of Angi Inc.'s cash in the Distribution	0	(386,563)
Proceeds from the sale of an unutilized domain name	7,500	0
Net proceeds from the sales of investments and businesses	38	10,096
Proceeds from the sale of a portion of the retirement investment fund	0	5,248
Other, net	2,602	134
Net cash provided by (used in) investing activities attributable to continuing operations	260,644	(375,221)
Cash flows from financing activities attributable to continuing operations:
Principal payments on the Term Loans	(6,125)	(8,750)
Withholding taxes paid on behalf of employees on net settled stock-based awards	(17,999)	(45,183)
Purchases of treasury stock	(123,574)	(179,394)
Distribution from Angi Inc. pursuant to the tax sharing agreement	6,542	0
Other, net	4	(655)
Net cash used in financing activities attributable to continuing operations	(141,152)	(233,982)
Total cash provided by (used in) continuing operations	129,456	(636,514)
Net cash provided by operating activities attributable to discontinued operations	5,424	24,617
Net cash used in investing activities attributable to discontinued operations	(60)	(13,019)
Net cash used in financing activities attributable to discontinued operations	0	(14,362)
Total cash provided by (used in) discontinued operations	5,364	(2,764)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1,411)	362
Net increase (decrease) in cash and cash equivalents and restricted cash	133,409	(638,916)
Cash and cash equivalents and restricted cash at beginning of period	986,831	1,807,255
Cash and cash equivalents and restricted cash at end of period	$ 1,120,240	$ 1,168,339

DISCONTINUED OPERATIONS - Components of Earnings (Loss) from Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating costs and expenses:
Earnings from discontinued operations, net of income taxes	$ 7,225	$ 43,774
Adjustment to the Angi Inc. distribution following the repeal of Canada's digital service tax	1,460
Restricted Stock \| RSA Agreement \| Angi Inc.
Operating costs and expenses:
Reversal of stock-based compensation expense related to individual		10,200
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		334,715
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)		30,983
Selling and marketing expense		142,086
General and administrative expense		76,310
Product development expense		41,558
Depreciation		10,653
Amortization of intangibles		1,115
Total operating costs and expenses		302,705
Operating income from discontinued operations		32,010
Interest expense		(5,044)
Other expense, net		4,884
Earnings from discontinued operations before income taxes		31,850
Income tax benefit (provision)		11,924
Earnings from discontinued operations, net of income taxes		43,774
Discontinued Operations \| Intersegment eliminations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		(19)
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)		0
Selling and marketing expense		0
General and administrative expense		(19)
Product development expense		0
Depreciation		0
Amortization of intangibles		0
Total operating costs and expenses		(19)
Operating income from discontinued operations		0
Interest expense		0
Other expense, net		0
Earnings from discontinued operations before income taxes		0
Income tax benefit (provision)		0
Earnings from discontinued operations, net of income taxes		0
Care.com \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	73,559	88,821
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	15,818	17,968
Selling and marketing expense	20,301	23,545
General and administrative expense	12,757	19,346
Product development expense	10,389	14,471
Depreciation	250	705
Amortization of intangibles	596	1,115
Total operating costs and expenses	60,111	77,150
Operating income from discontinued operations	13,448	11,671
Interest expense		0
Other expense, net	(324)	56
Earnings from discontinued operations before income taxes	13,124	11,727
Income tax benefit (provision)	(5,899)	16,753
Earnings from discontinued operations, net of income taxes	7,225	28,480
Adjustment to the Angi Inc. distribution following the repeal of Canada's digital service tax	$ 1,500
Angi \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		245,913
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)		13,015
Selling and marketing expense		118,541
General and administrative expense		56,983
Product development expense		27,087
Depreciation		9,948
Amortization of intangibles		0
Total operating costs and expenses		225,574
Operating income from discontinued operations		20,339
Interest expense		(5,044)
Other expense, net		4,828
Earnings from discontinued operations before income taxes		20,123
Income tax benefit (provision)		(4,829)
Earnings from discontinued operations, net of income taxes		$ 15,294

SEGMENT INFORMATION - Revenue Disaggregated by Session and Non-Session-Based Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Revenue	$ 422,893	$ 481,686
Operating Segments \| Digital
Segment Reporting Information [Line Items]
Revenue	253,223	234,520
Operating Segments \| Digital \| Session-based
Segment Reporting Information [Line Items]
Revenue	150,478	151,882
Operating Segments \| Digital \| Non-session-based
Segment Reporting Information [Line Items]
Revenue	$ 102,745	$ 82,638

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

PENSION AND POST-RETIREMENT BENEFIT PLANS

3 Months Ended

Mar. 31, 2026

Retirement Benefits [Abstract]

PENSION AND POST-RETIREMENT BENEFIT PLANS

NOTE 6—PENSION AND POST-RETIREMENT BENEFIT PLANS

The following table presents the components of net periodic benefit cost for the People Inc. pension and post-retirement benefit plans:


	Three Months Ended March 31, 2026						Three Months Ended March 31, 2025

	Pension				Post-Retirement		Pension				Post-Retirement
	U.S.		International		U.S.		U.S.		International		U.S.
	(In thousands)

Interest cost	$	28	$	5,890	$	45	$	37	$	5,155	$	53
Expected return on plan assets	—		(5,839)		—		—		(5,143)		—

Actuarial loss recognition	1		—		—		—		—		—


Net periodic benefit cost	$	29	$	51	$	45	$	37	$	12	$	53

The components of net periodic benefit cost are included in “Other income, net” in the statement of operations.

- Definition

The entire disclosure for retirement benefits.

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+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Investment in MGM

Investment in MGM


	March 31, 2026		December 31, 2025
	(In thousands)
Investment in MGM	$	2,473,095	$	2,401,858

The following table presents MGM’s summarized financial information for the three months ended March 31, 2026 and 2025. As noted above, the Company accounts for its investment in MGM under the equity method of accounting using the fair value option. As a result, the carrying value of our investment and the gain or loss in any given period are not necessarily correlated with the income statement information presented below.


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Revenues	$	4,454,718	$	4,277,082
Expenses	$	4,163,502	$	3,879,129
Net income	$	174,792	$	226,731
Net income attributable to MGM	$	125,136	$	148,554

Schedule of Long-term Investments

Long-term investments consist of:


	March 31, 2026		December 31, 2025
	(In thousands)
Equity securities without readily determinable fair values	$	404,628	$	409,240

Total long-term investments	$	404,628	$	409,240

Schedule of Realized and Unrealized Gains and Losses

The following table presents a summary of unrealized pre-tax gains and losses recorded in “Other income, net” in the statement of operations as adjustments to the carrying value of equity securities without readily determinable fair values held at March 31, 2026 and 2025.


	Three Months Ended March 31,
		2026		2025
		(In thousands)

Downward adjustments including impairments (gross unrealized pre-tax losses)		$	(4,612)	$	(18,045)
Total		$	(4,612)	$	(18,045)

Realized and unrealized pre-tax gains and losses for the Company’s investments without readily determinable fair values for the three months ended March 31, 2026 and 2025 are as follows:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
Realized pre-tax gains, net, for equity securities sold		$	38	$	9,304
Unrealized pre-tax losses, net, on equity securities held		(4,612)		(18,045)
Net pre-tax losses recognized		$	(4,574)	$	(8,741)

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis:


	March 31, 2026
	Level 1		Level 2		Level 3		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	902,032	$	—	$	—	$	902,032

Time deposits	—		18,808		—		18,808





Investment in MGM	2,473,095		—		—		2,473,095



Total	$	3,375,127	$	18,808	$	—	$	3,393,935

Liabilities:
Other long-term liabilities:
Interest rate swaps(a)	$	—	$	(510)	$	—	$	(510)

_____________________

(a) The fair value of interest rate swaps was determined using discounted cash flows derived from observable market prices, including swap curves, which are Level 2 inputs. See “Note 3—Long-term Debt” for additional information.


	December 31, 2025
	Level 1		Level 2		Level 3		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	739,891	$	—	$	—	$	739,891

Time deposits	—		20,689		—		20,689





Investment in MGM	2,401,858		—		—		2,401,858


Total	$	3,141,749	$	20,689	$	—	$	3,162,438

Liabilities:
Other long-term liabilities:
Interest rate swaps(a)	$	—	$	(2,018)	$	—	$	(2,018)

LOSS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share

The numerator and denominator of basic and diluted EPS computations for the Company’s common stock and Class B common stock are calculated as follows:


	Three Months Ended March 31,
		2026		2025
		(In thousands, except per share data)
Basic EPS:
Numerator:
Net loss from continuing operations		$	(2,252)	$	(258,342)
Net (earnings) loss from continuing operations attributable to noncontrolling interests		(1,212)		10
Net loss from continuing operations attributable to IAC common stock and Class B common stock shareholders		(3,464)		(258,332)

Loss on the sale of Care.com, net of income taxes		(75,643)		—
Earnings from discontinued operations, net of income taxes		7,225		43,774
Net earnings from discontinued operations attributable to noncontrolling interests		—		(2,247)
Net (loss) earnings from discontinued operations attributable to IAC common stock and Class B common stock shareholders		(68,418)		41,527

Net loss attributable to IAC common stock and Class B common stock shareholders		$	(71,882)	$	(216,805)

Denominator:
Weighted average basic IAC common stock and Class B common stock shares outstanding		76,742		82,214

Loss per share:
Loss per share from continuing operations attributable to IAC common stock and Class B common stock shareholders		$	(0.05)	$	(3.14)
(Loss) earnings per share from discontinued operations, net of income taxes, attributable to IAC common stock and Class B common stock shareholders		(0.89)		0.50
Loss per share attributable to IAC common stock and Class B common stock shareholders		$	(0.94)	$	(2.64)


	Three Months Ended March 31,
		2026		2025
		(In thousands, except per share data)
Diluted EPS:
Numerator:
Net loss from continuing operations		$	(2,252)	$	(258,342)
Net (earnings) loss from continuing operations attributable to noncontrolling interests		(1,212)		10

Net loss from continuing operations attributable to IAC common stock and Class B common stock shareholders		(3,464)		(258,332)

Loss on the sale of Care.com, net of income taxes		(75,643)		—
Earnings from discontinued operations, net of income taxes		7,225		43,774
Net earnings from discontinued operations attributable to noncontrolling interests		—		(2,247)
Net (loss) earnings from discontinued operations attributable to IAC common stock and Class B common stock shareholders		(68,418)		41,527

Net loss attributable to IAC common stock and Class B common stock shareholders		$	(71,882)	$	(216,805)

Denominator:
Weighted average basic IAC common stock and Class B common stock shares outstanding		76,742		82,214
Dilutive securities(a)		—		—
Denominator for earnings per share—weighted average shares(a)		76,742		82,214

Loss per share:
Loss per share from continuing operations attributable to IAC common stock and Class B common stock shareholders		$	(0.05)	$	(3.14)
(Loss) earnings per share from discontinued operations, net of income taxes, attributable to IAC common stock and Class B common stock shareholders		(0.89)		0.50
Loss per share attributable to IAC common stock and Class B common stock shareholders		$	(0.94)	$	(2.64)

_____________________

(a) For the three months ended March 31, 2026 and 2025, the Company had losses from continuing operations and, as a result, approximately 3.3 million and 4.3 million of potentially dilutive securities, respectively, were excluded from computing diluted EPS for the periods because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute the diluted EPS amounts.

LONG-TERM DEBT - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Jun. 16, 2025
Debt Instrument [Line Items]
Debt balance outstanding	$ 1,435,125	$ 1,441,250
Less: current portion of long-term debt	24,500	24,500
Less: original issue discount	3,279	3,397
Less: unamortized debt issuance costs	11,572	12,029
Total long-term debt, net	1,395,774	1,401,324
Term Loan A-1 Facility \| Term Loan
Debt Instrument [Line Items]
Debt balance outstanding	$ 336,875	$ 341,250
Interest rate on debt instrument (as a percent)	5.67%	5.73%
Term Loan B-2 Facility \| Term Loan
Debt Instrument [Line Items]
Debt balance outstanding	$ 698,250	$ 700,000
Interest rate on debt instrument (as a percent)	7.17%	7.37%
2032 Notes \| Senior Notes
Debt Instrument [Line Items]
Debt balance outstanding	$ 400,000	$ 400,000
Interest rate on debt instrument (as a percent)	7.625%		7.625%

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Contract With Customer Liability [Roll Forward]
Balance at January 1	$ 19,068	$ 20,309
Beginning deferred revenue balance recognized during the period	(15,309)	(16,124)
Net change primarily due to timing of collections and recognition	17,374	16,160
Balance at March 31	$ 21,133	$ 20,345

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Long-term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value Disclosures [Abstract]
Equity securities without readily determinable fair values	$ 404,628	$ 409,240
Total long-term investments	$ 404,628	$ 409,240

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Investment in MGM (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value Disclosures [Abstract]
Investment in MGM	$ 2,473,095	$ 2,401,858

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Certain Risks and Concentrations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Concentration Risk [Line Items]
Revenue	$ 422,893	$ 481,686
Customer concentration risk \| Revenue Benchmark \| Google Inc.
Concentration Risk [Line Items]
Revenue	$ 38,474	$ 96,945
Concentration risk (as a percent)	9.00%	20.00%
Customer concentration risk \| Revenue Benchmark \| Google Services Agreement
Concentration Risk [Line Items]
Revenue	$ 16,913	$ 69,829
Concentration risk (as a percent)	4.00%	14.00%
Customer concentration risk \| Revenue, Segment Benchmark \| Google Services Agreement \| Search
Concentration Risk [Line Items]
Concentration risk (as a percent)	99.00%	99.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-20

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 275
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 954
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478785/954-310-50-2

+ Details

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References + Details

- Definition

+ References

+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

NOTE 2—FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Investment in MGM


	March 31, 2026		December 31, 2025
	(In thousands)
Investment in MGM	$	2,473,095	$	2,401,858

At March 31, 2026, the Company owns 66.8 million common shares of MGM, including 1.0 million common shares purchased in the first quarter of 2026 for $37.2 million, which represents approximately 26.1% of MGM's common shares outstanding. The Company accounts for its investment in MGM under the equity method of accounting using the fair value option. The fair value of the investment in MGM is remeasured each reporting period based upon MGM’s closing stock price on the New York Stock Exchange on the last trading day in the reporting period; any unrealized pre-tax gains or losses are included in the statement of operations. For the three months ended March 31, 2026 and 2025, the Company recorded an unrealized pre-tax gain of $34.0 million and an unrealized pre-tax loss of $324.3 million, respectively, from its investment in MGM. The cumulative unrealized net pre-tax gain through March 31, 2026 is $1.1 billion. A $2.00 increase or decrease in the share price of MGM would result in an unrealized gain or loss, respectively, of $133.6 million.

On April 3, 2026, the Company entered into a voting agreement with MGM and Barry Diller (the “Voting Agreement”). Pursuant to the Voting Agreement, when a matter is brought to a vote at an annual or special MGM shareholder meeting (or by written consent in lieu of a meeting), the Company, Mr. Diller and their controlled affiliates (the “Covered Entities”) will vote the voting securities they beneficially own in excess of 25.73% of MGM’s total voting power (the “Excess Voting Securities”) in the same proportion as MGM’s other voting shareholders vote on that matter (excluding shareholders who do not vote).

The Voting Agreement automatically terminates upon the earliest of: (a) the Covered Entities collectively ceasing to beneficially own at least 17.5% of MGM’s outstanding voting securities; (b) the MGM Board’s failure to nominate two directors designated by the Company (if the Company has designated two directors) who qualify under MGM’s Corporate Governance Guidelines (“Qualified Directors”) to stand for election; or (c) a change of control of MGM. If the Company chooses not to designate one or more directors, the Voting Agreement does not terminate. If at any time, the MGM Board has fewer than two Company designated directors, the MGM Board must add Qualified Director(s) within one month of the Company’s designation (subject to required regulatory approvals). At signing, Mr. Diller was deemed designated by the Company to serve on the MGM Board.

Additionally, Mr. Diller and his controlled affiliates (other than the Company and its affiliates, the “Diller Entities”) will cease to be subject to the voting limitation on the Excess Voting Securities and will no longer be considered Covered Entities when both: (i) Mr. Diller no longer serves as the Company’s Chairman or Senior Executive, and (ii) the Diller Entities no longer beneficially own voting securities of the Company representing at least one‑third of the Company’s total voting power.


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Revenues	$	4,454,718	$	4,277,082
Expenses	$	4,163,502	$	3,879,129
Net income	$	174,792	$	226,731
Net income attributable to MGM	$	125,136	$	148,554

Long-term Investments

Long-term investments consist of:


	March 31, 2026		December 31, 2025
	(In thousands)
Equity securities without readily determinable fair values	$	404,628	$	409,240

Total long-term investments	$	404,628	$	409,240

Equity Securities without Readily Determinable Fair Values


	Three Months Ended March 31,
		2026		2025
		(In thousands)

Downward adjustments including impairments (gross unrealized pre-tax losses)		$	(4,612)	$	(18,045)
Total		$	(4,612)	$	(18,045)

The cumulative upward and downward adjustments (including impairments) to the carrying value of equity securities without readily determinable fair values held at March 31, 2026 were $31.4 million and $175.6 million, respectively.

Realized and unrealized pre-tax gains and losses for the Company’s investments without readily determinable fair values for the three months ended March 31, 2026 and 2025 are as follows:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
Realized pre-tax gains, net, for equity securities sold		$	38	$	9,304
Unrealized pre-tax losses, net, on equity securities held		(4,612)		(18,045)
Net pre-tax losses recognized		$	(4,574)	$	(8,741)

All pre-tax gains and losses on equity securities without readily determinable fair values, realized and unrealized, are recognized in “Other income, net” in the statement of operations.

Fair Value Measurements

The Company categorizes its financial instruments measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are:

•Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets.

•Level 2: Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data. The fair values of the Company’s Level 2 financial assets are primarily obtained from observable market prices for identical underlying securities that may not be actively traded. Certain of these securities may have different market prices from multiple market data sources, in which case an average market price is used.

•Level 3: Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities.

The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis:


	March 31, 2026
	Level 1		Level 2		Level 3		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	902,032	$	—	$	—	$	902,032

Time deposits	—		18,808		—		18,808





Investment in MGM	2,473,095		—		—		2,473,095



Total	$	3,375,127	$	18,808	$	—	$	3,393,935

Liabilities:
Other long-term liabilities:
Interest rate swaps(a)	$	—	$	(510)	$	—	$	(510)

_____________________


	December 31, 2025
	Level 1		Level 2		Level 3		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	739,891	$	—	$	—	$	739,891

Time deposits	—		20,689		—		20,689





Investment in MGM	2,401,858		—		—		2,401,858


Total	$	3,141,749	$	20,689	$	—	$	3,162,438

Liabilities:
Other long-term liabilities:
Interest rate swaps(a)	$	—	$	(2,018)	$	—	$	(2,018)

Assets measured at fair value on a nonrecurring basis

The Company’s non-financial assets, such as goodwill, intangible assets, ROU assets, buildings, equipment, leasehold improvements and capitalized software, are adjusted to fair value only when an impairment is recognized. The Company's financial assets, comprising equity securities without readily determinable fair values, are adjusted to fair value when observable price changes for similar or identical securities are identified or an impairment is recognized. Such fair value measurements are based predominantly on Level 3 inputs.

Financial instruments measured at fair value only for disclosure purposes

The total fair value of the outstanding long-term debt, including the current portion, is estimated using observable market prices or indices for similar liabilities, which are Level 2 inputs, and was approximately $1.34 billion and $1.33 billion at March 31, 2026 and December 31, 2025, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The components of Care.com’s assets and liabilities reflected as discontinued operations in the balance sheet at December 31, 2025 consisted of the following:


	December 31, 2025
	(In thousands)
Current assets
Cash and cash equivalents	$	18,900
Accounts receivable, net	32,197
Other current assets	33,536
Total current assets of discontinued operations	$	84,633

Non-current assets
Capitalized software, leasehold improvements and equipment, net	$	2,999
Goodwill	283,445
Intangible assets, net	71,479
Deferred income taxes	64,309
Other non-current assets	4,727
Total non-current assets of discontinued operations	$	426,959

Current liabilities
Accounts payable, trade	$	635
Deferred revenue	31,289
Accrued expenses and other current liabilities	44,723
Total current liabilities of discontinued operations	$	76,647

Non-current liabilities
Deferred income taxes	$	4,167
Other non-current liabilities	4,490
Total non-current liabilities of discontinued operations	$	8,657

The components of earnings from discontinued operations in the statement of operations for 2026 consisted of the following, principally related to the operations of Care.com prior to its sale on March 16, 2026:


	Three Months Ended March 31, 2026

	(In thousands)
Revenue	$	73,559
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	15,818
Selling and marketing expense	20,301
General and administrative expense(a)	12,757
Product development expense	10,389
Depreciation	250
Amortization of intangibles	596

Total operating costs and expenses	60,111
Operating income from discontinued operations	13,448

Other expense, net	(324)
Earnings from discontinued operations before income taxes	13,124
Income tax provision	(5,899)
Earnings from discontinued operations, net of income taxes	$	7,225

_____________________

(a) Includes $1.5 million related to non-income taxes at Angi with a corresponding adjustment to additional paid-in-capital, following the repeal of Canada’s digital service tax in the first quarter of 2026.

The components of earnings from discontinued operations in the statement of operations for 2025 consisted of the following:


	Three months ended March 31, 2025
	Care.com		Angi		Intersegment Eliminations		Consolidated IAC
	(In thousands)
Revenue	$	88,821	$	245,913	$	(19)	$	334,715
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	17,968		13,015		—		30,983
Selling and marketing expense	23,545		118,541		—		142,086
General and administrative expense(b)	19,346		56,983		(19)		76,310
Product development expense	14,471		27,087		—		41,558
Depreciation	705		9,948		—		10,653
Amortization of intangibles	1,115		—		—		1,115

Total operating costs and expenses	77,150		225,574		(19)		302,705
Operating income from discontinued operations	11,671		20,339		—		32,010
Interest expense	—		(5,044)		—		(5,044)
Other income, net	56		4,828		—		4,884
Earnings from discontinued operations before income taxes	11,727		20,123		—		31,850
Income tax benefit (provision)	16,753		(4,829)		—		11,924
Earnings from discontinued operations, net of income taxes	$	28,480	$	15,294	$	—	$	43,774

_____________________

(b) The three months ended March 31, 2025 include the reversal of $10.2 million in stock-based compensation expense that was previously recognized by Angi with respect to restricted shares.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 3
-SubTopic 10
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Adjustments to the Carrying Value of Equity Securities Without Readily Determinable Fair Values
Downward adjustments including impairments (gross unrealized pre-tax losses)	$ (4,612)	$ (18,045)
Total	(4,612)	(18,045)
Equity Securities without Readily Determinable Fair Values, Realized and Unrealized Gains (Losses)
Realized pre-tax gains, net, for equity securities sold	38	9,304
Unrealized pre-tax losses, net, on equity securities held	(4,612)	(18,045)
Net pre-tax losses recognized	$ (4,574)	$ (8,741)

SEGMENT INFORMATION - Revenue by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting [Abstract]
Number Of Reportable Segments Not Disclosed Flag	segments
Segment Reporting Information [Line Items]
Revenue	$ 422,893	$ 481,686
Operating Segments \| People Inc.
Segment Reporting Information [Line Items]
Revenue	385,729	393,071
Operating Segments \| Digital
Segment Reporting Information [Line Items]
Revenue	253,223	234,520
Operating Segments \| Print
Segment Reporting Information [Line Items]
Revenue	137,837	163,270
Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	17,096	70,329
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	20,078	18,287
Intersegment eliminations
Segment Reporting Information [Line Items]
Revenue	(10)	(1)
Intersegment eliminations \| People Inc.
Segment Reporting Information [Line Items]
Revenue	$ (5,331)	$ (4,719)

PENSION AND POST-RETIREMENT BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2026

Retirement Benefits [Abstract]

Summary of Components of Net Periodic Benefit Costs

The following table presents the components of net periodic benefit cost for the People Inc. pension and post-retirement benefit plans:


	Three Months Ended March 31, 2026						Three Months Ended March 31, 2025

	Pension				Post-Retirement		Pension				Post-Retirement
	U.S.		International		U.S.		U.S.		International		U.S.
	(In thousands)

Interest cost	$	28	$	5,890	$	45	$	37	$	5,155	$	53
Expected return on plan assets	—		(5,839)		—		—		(5,143)		—

Actuarial loss recognition	1		—		—		—		—		—


Net periodic benefit cost	$	29	$	51	$	45	$	37	$	12	$	53

DISCONTINUED OPERATIONS - Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 0	$ 37,659	$ 17,811	$ 436,402
Total current assets of discontinued operations	0	84,633
Non-current assets
Total non-current assets of discontinued operations	0	426,959
Current liabilities
Total current liabilities of discontinued operations	0	76,647
Non-current liabilities
Total non-current liabilities of discontinued operations	$ 0	8,657
Discontinued Operations \| Care.com
Current assets
Cash and cash equivalents		18,900
Accounts receivable, net		32,197
Other current assets		33,536
Total current assets of discontinued operations		84,633
Non-current assets
Capitalized software, leasehold improvements and equipment, net		2,999
Goodwill		283,445
Intangible assets, net		71,479
Deferred income taxes		64,309
Other non-current assets		4,727
Total non-current assets of discontinued operations		426,959
Current liabilities
Accounts payable, trade		635
Deferred revenue		31,289
Accrued expenses and other current liabilities		44,723
Total current liabilities of discontinued operations		76,647
Non-current liabilities
Deferred income taxes		4,167
Other non-current liabilities		4,490
Total non-current liabilities of discontinued operations		$ 8,657

PEOPLE INC. FINANCIAL INFORMATION - Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities attributable to continuing operations:
Net (loss) earnings	$ (70,670)	$ (214,568)
Less: Loss on the sale of Care.com, net of income taxes	(75,643)	0
Less: Earnings from discontinued operations, net of income taxes	7,225	43,774
Net loss from continuing operations	(2,252)	(258,342)
Adjustments to reconcile net loss attributable to continuing operations to net cash provided by (used in) operating activities attributable to continuing operations:
Amortization of intangibles	19,040	22,418
Stock-based compensation expense	16,412	(21,390)
Non-cash lease expense (including right-of-use asset impairments)	7,543	8,724
Depreciation	7,314	11,241
Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses	4,574	7,538
Unrealized gain (loss) on investment in MGM Resorts International	(34,005)	324,265
Deferred income taxes	(15,121)	(63,833)
Gain on sale of an unutilized domain name	(7,500)	0
Net gains on amendments and early terminations of lease agreements	0	(36,038)
Other adjustments, net	2,828	1,348
Changes in assets and liabilities, net of effects of dispositions:
Accounts receivable	86,268	76,641
Other assets	(940)	(32,650)
Operating lease liabilities	(14,545)	(33,950)
Accounts payable and other liabilities	(61,564)	(35,588)
Income taxes payable and receivable	(635)	1,611
Deferred revenue	2,547	694
Net cash provided by (used in) operating activities attributable to continuing operations	9,964	(27,311)
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(7,961)	(4,136)
Net proceeds from the sale of Care.com	295,697	0
Purchase of MGM Resorts International common shares	(37,232)	0
Allocation of Angi Inc.'s cash in the Distribution	0	(386,563)
Proceeds from the sale of an unutilized domain name	7,500	0
Net proceeds from the sales of investments and businesses	38	10,096
Proceeds from the sale of a portion of the retirement investment fund	0	5,248
Other, net	2,602	134
Net cash provided by (used in) investing activities attributable to continuing operations	260,644	(375,221)
Cash flows from financing activities attributable to continuing operations:
Principal payments on the Term Loans	(6,125)	(8,750)
Withholding taxes paid on behalf of employees on net settled stock-based awards	(17,999)	(45,183)
Purchases of treasury stock	(123,574)	(179,394)
Reimbursement to IAC for shares issued to settle People Inc. SARs	0	0
Distribution from Angi Inc. pursuant to the tax sharing agreement	6,542	0
Intercompany between People Inc. and IAC Inc.	0	0
Other, net	4	(655)
Net cash used in financing activities attributable to continuing operations	(141,152)	(233,982)
Total cash provided by (used in) continuing operations	129,456	(636,514)
Net cash provided by operating activities attributable to discontinued operations	5,424	24,617
Net cash used in investing activities attributable to discontinued operations	(60)	(13,019)
Net cash used in financing activities attributable to discontinued operations	0	(14,362)
Total cash provided by (used in) discontinued operations	5,364	(2,764)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1,411)	362
Net increase (decrease) in cash and cash equivalents and restricted cash	133,409	(638,916)
Cash and cash equivalents and restricted cash at beginning of period	986,831	1,807,255
Cash and cash equivalents and restricted cash at end of period	1,120,240	1,168,339
Reportable Legal Entities \| People Inc.
Cash flows from operating activities attributable to continuing operations:
Net (loss) earnings	(12,340)	9,242
Less: Loss on the sale of Care.com, net of income taxes	0	0
Less: Earnings from discontinued operations, net of income taxes	0	0
Net loss from continuing operations	(12,340)	9,242
Adjustments to reconcile net loss attributable to continuing operations to net cash provided by (used in) operating activities attributable to continuing operations:
Amortization of intangibles	19,040	22,418
Stock-based compensation expense	8,690	5,493
Non-cash lease expense (including right-of-use asset impairments)	7,353	8,378
Depreciation	5,368	9,173
Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses	0	0
Unrealized gain (loss) on investment in MGM Resorts International	0	0
Deferred income taxes	(394)	7,357
Gain on sale of an unutilized domain name	0	0
Net gains on amendments and early terminations of lease agreements	0	(36,038)
Other adjustments, net	2,619	1,322
Changes in assets and liabilities, net of effects of dispositions:
Accounts receivable	85,248	76,382
Other assets	(5,042)	(5,491)
Operating lease liabilities	(13,973)	(33,591)
Accounts payable and other liabilities	(42,752)	(49,737)
Income taxes payable and receivable	226	1,397
Deferred revenue	1,611	322
Net cash provided by (used in) operating activities attributable to continuing operations	55,654	16,627
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(7,864)	(3,853)
Net proceeds from the sale of Care.com	0	0
Purchase of MGM Resorts International common shares	0	0
Allocation of Angi Inc.'s cash in the Distribution	0	0
Proceeds from the sale of an unutilized domain name	0	0
Net proceeds from the sales of investments and businesses	0	0
Proceeds from the sale of a portion of the retirement investment fund	0	5,248
Other, net	1,390	2
Net cash provided by (used in) investing activities attributable to continuing operations	(6,474)	1,397
Cash flows from financing activities attributable to continuing operations:
Principal payments on the Term Loans	(6,125)	(8,750)
Withholding taxes paid on behalf of employees on net settled stock-based awards	(8,941)	(10,429)
Purchases of treasury stock	0	0
Reimbursement to IAC for shares issued to settle People Inc. SARs	(1,815)	(6,118)
Distribution from Angi Inc. pursuant to the tax sharing agreement	0	0
Intercompany between People Inc. and IAC Inc.	0	0
Other, net	6	0
Net cash used in financing activities attributable to continuing operations	(16,875)	(25,297)
Total cash provided by (used in) continuing operations	32,305	(7,273)
Net cash provided by operating activities attributable to discontinued operations	0	0
Net cash used in investing activities attributable to discontinued operations	0	0
Net cash used in financing activities attributable to discontinued operations	0	0
Total cash provided by (used in) discontinued operations	0	0
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(900)	198
Net increase (decrease) in cash and cash equivalents and restricted cash	31,405	(7,075)
Cash and cash equivalents and restricted cash at beginning of period	292,179	257,122
Cash and cash equivalents and restricted cash at end of period	323,584	250,047
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc.
Cash flows from operating activities attributable to continuing operations:
Net (loss) earnings	(58,330)	(223,810)
Less: Loss on the sale of Care.com, net of income taxes	(75,643)	0
Less: Earnings from discontinued operations, net of income taxes	7,225	43,774
Net loss from continuing operations	10,088	(267,584)
Adjustments to reconcile net loss attributable to continuing operations to net cash provided by (used in) operating activities attributable to continuing operations:
Amortization of intangibles	0	0
Stock-based compensation expense	7,722	(26,883)
Non-cash lease expense (including right-of-use asset impairments)	190	346
Depreciation	1,946	2,068
Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses	4,574	7,538
Unrealized gain (loss) on investment in MGM Resorts International	(34,005)	324,265
Deferred income taxes	(14,727)	(71,190)
Gain on sale of an unutilized domain name	(7,500)	0
Net gains on amendments and early terminations of lease agreements	0	0
Other adjustments, net	209	26
Changes in assets and liabilities, net of effects of dispositions:
Accounts receivable	1,020	259
Other assets	4,102	(27,159)
Operating lease liabilities	(572)	(359)
Accounts payable and other liabilities	(8,002)	22,773
Income taxes payable and receivable	(861)	214
Deferred revenue	936	372
Net cash provided by (used in) operating activities attributable to continuing operations	(34,880)	(35,314)
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(97)	(283)
Net proceeds from the sale of Care.com	295,697	0
Purchase of MGM Resorts International common shares	(37,232)	0
Allocation of Angi Inc.'s cash in the Distribution	0	(386,563)
Proceeds from the sale of an unutilized domain name	7,500	0
Net proceeds from the sales of investments and businesses	38	10,096
Proceeds from the sale of a portion of the retirement investment fund	0	0
Other, net	1,212	132
Net cash provided by (used in) investing activities attributable to continuing operations	267,118	(376,618)
Cash flows from financing activities attributable to continuing operations:
Principal payments on the Term Loans	0	0
Withholding taxes paid on behalf of employees on net settled stock-based awards	(9,058)	(34,754)
Purchases of treasury stock	(123,574)	(179,394)
Reimbursement to IAC for shares issued to settle People Inc. SARs	0	0
Distribution from Angi Inc. pursuant to the tax sharing agreement	6,542	0
Intercompany between People Inc. and IAC Inc.	(8,995)	(2,506)
Other, net	(2)	(655)
Net cash used in financing activities attributable to continuing operations	(135,087)	(217,309)
Total cash provided by (used in) continuing operations	97,151	(629,241)
Net cash provided by operating activities attributable to discontinued operations	5,424	24,617
Net cash used in investing activities attributable to discontinued operations	(60)	(13,019)
Net cash used in financing activities attributable to discontinued operations	0	(14,362)
Total cash provided by (used in) discontinued operations	5,364	(2,764)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(511)	164
Net increase (decrease) in cash and cash equivalents and restricted cash	102,004	(631,841)
Cash and cash equivalents and restricted cash at beginning of period	694,652	1,550,133
Cash and cash equivalents and restricted cash at end of period	796,656	918,292
Eliminations and Reclassifications
Changes in assets and liabilities, net of effects of dispositions:
Accounts payable and other liabilities	(10,810)	(8,624)
Net cash provided by (used in) operating activities attributable to continuing operations	(10,810)	(8,624)
Cash flows from financing activities attributable to continuing operations:
Reimbursement to IAC for shares issued to settle People Inc. SARs	(1,815)	(6,118)
Intercompany between People Inc. and IAC Inc.	8,995	2,506
Net cash used in financing activities attributable to continuing operations	$ (10,810)	$ (8,624)

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of Changes in Deferred Revenue

The following table presents the changes in deferred revenue:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Balance at January 1	$	19,068	$	20,309
Beginning deferred revenue balance recognized during the period	(15,309)		(16,124)
Net change primarily due to timing of collections and recognition	17,374		16,160
Balance at March 31	$	21,133	$	20,345

Schedules of Concentration of Risk, by Risk Factor

The following table presents revenue earned by the Company from Google and revenue earned by the Company’s Search segment from the Services Agreement:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Total Google revenue	$	38,474	$	96,945
As a percentage of total revenue	9%		20%

Services Agreement revenue	$	16,913	$	69,829
As a percentage of total Search revenue	99%		99%
As a percentage of total revenue	4%		14%

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Investment Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Schedule of Equity Method Investments [Line Items]
Revenues	$ 422,893	$ 481,686
Expenses	462,959	457,562
Net income	(70,670)	(214,568)
Net income attributable to MGM	(71,882)	(216,805)
MGM
Schedule of Equity Method Investments [Line Items]
Revenues	4,454,718	4,277,082
Expenses	4,163,502	3,879,129
Net income	174,792	226,731
Net income attributable to MGM	$ 125,136	$ 148,554

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

PEOPLE INC. FINANCIAL INFORMATION - Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 1,112,445	$ 941,311	$ 1,143,084	$ 1,363,547
Accounts receivable, net	328,772	416,617
Other current assets	109,404	102,188
Current assets of discontinued operations	0	84,633
Total current assets	1,550,621	1,544,749
Buildings, land, equipment, leasehold improvements and capitalized software, net	285,630	284,394
Goodwill	1,507,911	1,508,030
Intangible assets, net of accumulated amortization	375,341	394,381
Investment in MGM Resorts International	2,473,095	2,401,858
Long-term investments	404,628	409,240
Other non-current assets	222,991	225,306
IAC Inc. investment in People Inc.	0	0
Non-current assets of discontinued operations	0	426,959
TOTAL ASSETS	6,820,217	7,194,917
LIABILITIES:
Current portion of long-term debt	24,500	24,500
Accounts payable, trade	35,815	36,884
Deferred revenue	20,923	19,026
Accrued expenses and other current liabilities	338,544	403,810
Current liabilities of discontinued operations	0	76,647
Total current liabilities	419,782	560,867
Long-term debt, net	1,395,774	1,401,324
Deferred income taxes	192,966	208,624
Other long-term liabilities	217,010	226,422
Non-current liabilities of discontinued operations	0	8,657
Intercompany due from People Inc. to IAC Inc.	0	0
Redeemable noncontrolling interests	12,236	25,264
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Additional paid-in-capital	5,974,269	5,959,692
Accumulated deficit	(714,882)	(643,000)
Accumulated other comprehensive loss	(14,054)	(11,842)
Treasury stock	(695,890)	(571,032)
Total IAC shareholders' equity	4,549,452	4,733,827
Noncontrolling interests	32,997	29,932
Total shareholders' equity	4,582,449	4,763,759	4,737,438	6,278,973
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	6,820,217	7,194,917
Class A common stock
SHAREHOLDERS' EQUITY:
Common stock, value	8	8
Class B common stock
SHAREHOLDERS' EQUITY:
Common stock, value	1	1
Reportable Legal Entities \| People Inc.
ASSETS
Cash and cash equivalents	315,789	284,318	242,603	249,927
Accounts receivable, net	314,330	400,895
Other current assets	58,289	54,180
Current assets of discontinued operations	0	0
Total current assets	688,408	739,393
Buildings, land, equipment, leasehold improvements and capitalized software, net	107,597	104,512
Goodwill	1,505,377	1,505,497
Intangible assets, net of accumulated amortization	375,341	394,381
Investment in MGM Resorts International	0	0
Long-term investments	0	0
Other non-current assets	243,635	252,258
IAC Inc. investment in People Inc.	0	0
Non-current assets of discontinued operations	0	0
TOTAL ASSETS	2,920,358	2,996,041
LIABILITIES:
Current portion of long-term debt	24,500	24,500
Accounts payable, trade	30,494	28,226
Deferred revenue	17,917	17,062
Accrued expenses and other current liabilities	299,384	343,289
Current liabilities of discontinued operations	0	0
Total current liabilities	372,295	413,077
Long-term debt, net	1,395,774	1,401,324
Deferred income taxes	0	0
Other long-term liabilities	204,834	213,265
Non-current liabilities of discontinued operations	0	0
Intercompany due from People Inc. to IAC Inc.	0	0
Redeemable noncontrolling interests	0	0
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Additional paid-in-capital	1,561,633	1,570,603
Accumulated deficit	(600,128)	(587,788)
Accumulated other comprehensive loss	(14,053)	(14,443)
Treasury stock	0	0
Total IAC shareholders' equity	947,455	968,375	888,157	895,878
Noncontrolling interests	0	0
Total shareholders' equity	947,455	968,375
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	2,920,358	2,996,041
Reportable Legal Entities \| People Inc. \| Class A common stock
SHAREHOLDERS' EQUITY:
Common stock, value	3	3
Reportable Legal Entities \| People Inc. \| Class B common stock
SHAREHOLDERS' EQUITY:
Common stock, value	0	0
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc.
ASSETS
Cash and cash equivalents	796,656	656,993	$ 900,481	$ 1,113,620
Accounts receivable, net	14,442	15,722
Other current assets	51,115	48,008
Current assets of discontinued operations	0	84,633
Total current assets	862,213	805,356
Buildings, land, equipment, leasehold improvements and capitalized software, net	178,033	179,882
Goodwill	2,534	2,533
Intangible assets, net of accumulated amortization	0	0
Investment in MGM Resorts International	2,473,095	2,401,858
Long-term investments	404,628	409,240
Other non-current assets	35,110	70,384
IAC Inc. investment in People Inc.	1,646,956	1,655,926
Non-current assets of discontinued operations	0	426,959
TOTAL ASSETS	5,602,569	5,952,138
LIABILITIES:
Current portion of long-term debt	0	0
Accounts payable, trade	5,321	8,658
Deferred revenue	3,006	1,964
Accrued expenses and other current liabilities	62,831	66,299
Current liabilities of discontinued operations	0	76,647
Total current liabilities	71,158	153,568
Long-term debt, net	0	0
Deferred income taxes	248,720	305,960
Other long-term liabilities	12,176	13,157
Non-current liabilities of discontinued operations	0	8,657
Intercompany due from People Inc. to IAC Inc.	(26,028)	(8,135)
Redeemable noncontrolling interests	12,236	25,264
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Additional paid-in-capital	5,974,269	5,959,692
Accumulated deficit	(27,077)	32,465
Accumulated other comprehensive loss	(1)	2,601
Treasury stock	(695,890)	(571,032)
Total IAC shareholders' equity	5,251,310	5,423,735
Noncontrolling interests	32,997	29,932
Total shareholders' equity	5,284,307	5,453,667
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	5,602,569	5,952,138
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc. \| Class A common stock
SHAREHOLDERS' EQUITY:
Common stock, value	8	8
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc. \| Class B common stock
SHAREHOLDERS' EQUITY:
Common stock, value	1	1
Eliminations and Reclassifications
ASSETS
Other non-current assets	(55,754)	(97,336)
IAC Inc. investment in People Inc.	(1,646,956)	(1,655,926)
TOTAL ASSETS	(1,702,710)	(1,753,262)
LIABILITIES:
Accrued expenses and other current liabilities	(23,671)	(5,778)
Total current liabilities	(23,671)	(5,778)
Deferred income taxes	(55,754)	(97,336)
Intercompany due from People Inc. to IAC Inc.	(26,028)	(8,135)
SHAREHOLDERS' EQUITY:
Additional paid-in-capital	(1,561,633)	(1,570,603)
Accumulated deficit	(87,677)	(87,677)
Total IAC shareholders' equity	(1,649,313)	(1,658,283)
Total shareholders' equity	(1,649,313)	(1,658,283)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	(1,702,710)	(1,753,262)
Eliminations and Reclassifications \| Class A common stock
SHAREHOLDERS' EQUITY:
Common stock, value	$ (3)	$ (3)

SEGMENT INFORMATION - Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Adjusted EBITDA, percentage generated in fourth quarter each year	50.00%
Total Segment Adjusted EBITDA	$ 39,455	$ 78,782
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Adjusted EBITDA	39,455	78,782
Operating Segments \| People Inc.
Segment Reporting Information [Line Items]
Total Segment Adjusted EBITDA	43,503	80,291
Operating Segments \| Digital
Segment Reporting Information [Line Items]
Total Segment Adjusted EBITDA	49,912	41,529
Operating Segments \| Print
Segment Reporting Information [Line Items]
Total Segment Adjusted EBITDA	6,373	14,281
Operating Segments \| Search
Segment Reporting Information [Line Items]
Total Segment Adjusted EBITDA	(8,262)	3,009
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Total Segment Adjusted EBITDA	4,214	(4,518)
Corporate
Segment Reporting Information [Line Items]
Total Segment Adjusted EBITDA	(36,755)	(42,389)
Corporate \| People Inc.
Segment Reporting Information [Line Items]
Total Segment Adjusted EBITDA	$ (12,782)	$ 24,481

FINANCIAL STATEMENT DETAILS

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

FINANCIAL STATEMENT DETAILS

NOTE 9—FINANCIAL STATEMENT DETAILS

Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the balance sheet to the total amounts shown in the statement of cash flows:


	March 31, 2026		December 31, 2025		March 31, 2025		December 31, 2024
	(In thousands)
Cash and cash equivalents	$	1,112,445	$	941,311	$	1,143,084	$	1,363,547
Restricted cash included in other current assets	—		—		—		7,195
Restricted cash included in other non-current assets	7,795		7,861		7,444		—
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		37,659		17,811		436,402
Restricted cash included in other non-current assets of discontinued operations	—		—		—		111
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	1,120,240	$	986,831	$	1,168,339	$	1,807,255

Restricted cash in all periods presented principally consists of cash held in escrow related to the funded pension plan in the United Kingdom at People Inc.

The following table presents the cash and cash equivalents by geographic location:


	March 31, 2026		December 31, 2025		March 31, 2025		December 31, 2024
	(In thousands)
People Inc. cash and cash equivalents:
United States	$	295,270	$	261,904	$	222,525	$	230,436
All other countries	20,519		22,414		20,078		19,491
Total People Inc. cash and cash equivalents	315,789		284,318		242,603		249,927

IAC (excluding People Inc.) cash and cash equivalents
United States	794,149		653,480		884,524		1,086,888
All other countries	2,507		3,513		15,957		26,732
Total IAC (excluding People Inc.) cash and cash equivalents	796,656		656,993		900,481		1,113,620

Total cash and cash equivalents	$	1,112,445	$	941,311	$	1,143,084	$	1,363,547

Credit Losses

The following table presents the changes in the allowance for credit losses:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Balance at January 1	$	8,715	$	6,686
Current period provision for credit losses	1,531		1,123
Write-offs charged against the allowance	(3,931)		(1,315)
Recoveries collected	11		27

Balance at March 31	$	6,326	$	6,521

Accumulated Depreciation and Amortization

The following table provides the accumulated depreciation and amortization within the balance sheet:


Asset Category	March 31, 2026		December 31, 2025
	(In thousands)
Buildings, equipment, leasehold improvements and capitalized software	$	196,188	$	191,044
Intangible assets	$	648,734	$	637,194

Other income, net


	Three Months Ended March 31,
		2026		2025
		(In thousands)

Interest income		$	9,529	$	14,357
Gain on sale of an unutilized domain name		7,500		—
Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses		(4,574)		(7,626)

Other		1,634		901
Other income, net		$	14,089	$	7,632

NOTE 13—PEOPLE INC. FINANCIAL INFORMATION

As mentioned above, Dotdash Meredith Inc. (referred to herein as People Inc.), the borrower under the Term Loans and 2032 Notes, is required to provide certain financial information. This requirement can be met by providing IAC financial statements presented as of and for the applicable periods then ended with a reconciliation to the consolidated balance sheet, statement of operations and comprehensive operations and statement of cash flows of People Inc. on a standalone basis and the consolidated statement of shareholder’s equity of People Inc. on a standalone basis. Presented below are the reconciliations of the Company’s (i) consolidated balance sheet as of March 31, 2026 and December 31, 2025, (ii) the related consolidated statement of operations and comprehensive operations and consolidated statement of cash flows for the three months ended March 31, 2026 and 2025 to the applicable financial information of People Inc. on a standalone basis by (1) excluding entities other than People Inc. and (2) including the applicable eliminations and reclassifications. Also presented are the consolidated statements of shareholder’s equity for People Inc. for the three months ended March 31, 2026 and 2025.

CONSOLIDATED BALANCE SHEET AT MARCH 31, 2026 AND DECEMBER 31, 2025 (Unaudited)


	March 31, 2026								December 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
ASSETS
Cash and cash equivalents	$	1,112,445	$	(796,656)	$	—	$	315,789	$	941,311	$	(656,993)	$	—	$	284,318

Accounts receivable, net	328,772		(14,442)		—		314,330		416,617		(15,722)		—		400,895
Other current assets	109,404		(51,115)		—		58,289		102,188		(48,008)		—		54,180
Current assets of discontinued operations	—		—		—		—		84,633		(84,633)		—		—
Total current assets	1,550,621		(862,213)		—		688,408		1,544,749		(805,356)		—		739,393

Buildings, land, equipment, leasehold improvements and capitalized software, net	285,630		(178,033)		—		107,597		284,394		(179,882)		—		104,512
Goodwill	1,507,911		(2,534)		—		1,505,377		1,508,030		(2,533)		—		1,505,497
Intangible assets, net of accumulated amortization	375,341		—		—		375,341		394,381		—		—		394,381
Investment in MGM Resorts International	2,473,095		(2,473,095)		—		—		2,401,858		(2,401,858)		—		—
Long-term investments	404,628		(404,628)		—		—		409,240		(409,240)		—		—
Other non-current assets	222,991		(35,110)		55,754		243,635		225,306		(70,384)		97,336		252,258
IAC Inc. investment in People Inc.	—		(1,646,956)		1,646,956		—		—		(1,655,926)		1,655,926		—
Non-current assets of discontinued operations	—		—		—		—		426,959		(426,959)		—		—
TOTAL ASSETS	$	6,820,217	$	(5,602,569)	$	1,702,710	$	2,920,358	$	7,194,917	$	(5,952,138)	$	1,753,262	$	2,996,041

LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
Current portion of long-term debt	$	24,500	$	—	$	—	$	24,500	$	24,500	$	—	$	—	$	24,500
Accounts payable, trade	35,815		(5,321)		—		30,494		36,884		(8,658)		—		28,226
Deferred revenue	20,923		(3,006)		—		17,917		19,026		(1,964)		—		17,062


	March 31, 2026								December 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Accrued expenses and other current liabilities	338,544		(62,831)		23,671		299,384		403,810		(66,299)		5,778		343,289
Current liabilities of discontinued operations	—		—		—		—		76,647		(76,647)		—		—
Total current liabilities	419,782		(71,158)		23,671		372,295		560,867		(153,568)		5,778		413,077

Long-term debt, net	1,395,774		—		—		1,395,774		1,401,324		—		—		1,401,324
Deferred income taxes	192,966		(248,720)		55,754		—		208,624		(305,960)		97,336		—
Other long-term liabilities	217,010		(12,176)		—		204,834		226,422		(13,157)		—		213,265
Non-current liabilities of discontinued operations	—		—		—		—		8,657		(8,657)		—		—
Intercompany due from People Inc. to IAC Inc.	—		26,028		(26,028)		—		—		8,135		(8,135)		—

Redeemable noncontrolling interests	12,236		(12,236)		—		—		25,264		(25,264)		—		—

Commitments and contingencies

SHAREHOLDERS' EQUITY:
Common stock	8		(8)		3		3		8		(8)		3		3
Class B common stock	1		(1)		—		—		1		(1)		—		—

Additional paid-in-capital	5,974,269		(5,974,269)		1,561,633		1,561,633		5,959,692		(5,959,692)		1,570,603		1,570,603
Accumulated deficit	(714,882)		27,077		87,677		(600,128)		(643,000)		(32,465)		87,677		(587,788)
Accumulated other comprehensive loss	(14,054)		1		—		(14,053)		(11,842)		(2,601)		—		(14,443)
Treasury stock	(695,890)		695,890		—		—		(571,032)		571,032		—		—
Total shareholders' equity	4,549,452		(5,251,310)		1,649,313		947,455		4,733,827		(5,423,735)		1,658,283		968,375
Noncontrolling interests	32,997		(32,997)		—		—		29,932		(29,932)		—		—
Total shareholders' equity	4,582,449		(5,284,307)		1,649,313		947,455		4,763,759		(5,453,667)		1,658,283		968,375
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	6,820,217	$	(5,602,569)	$	1,702,710	$	2,920,358	$	7,194,917	$	(5,952,138)	$	1,753,262	$	2,996,041

CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
Revenue	$	422,893	$	(37,174)	$	10	$	385,729	$	481,686	$	(88,616)	$	1	$	393,071
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	159,773		(12,015)		37		147,795		187,315		(34,437)		13		152,891
Selling and marketing expense	133,030		(16,862)		—		116,168		157,369		(37,549)		—		119,820
General and administrative expense	104,107		(48,662)		(27)		55,418		43,477		(27,510)		(12)		15,955
Product development expense	39,695		(8,160)		—		31,535		35,742		(6,135)		—		29,607
Depreciation	7,314		(1,946)		—		5,368		11,241		(2,068)		—		9,173
Amortization of intangibles	19,040		—		—		19,040		22,418		—		—		22,418

Total operating costs and expenses	462,959		(87,645)		10		375,324		457,562		(107,699)		1		349,864
Operating (loss) income	(40,066)		50,471		—		10,405		24,124		19,083		—		43,207
Interest expense	(25,858)		—		—		(25,858)		(28,314)		—		—		(28,314)
Unrealized gain (loss) on investment in MGM Resorts International	34,005		(34,005)		—		—		(324,265)		324,265		—		—
Other income, net	14,089		(10,975)		—		3,114		7,632		(4,624)		—		3,008
(Loss) earnings from continuing operations before income taxes	(17,830)		5,491		—		(12,339)		(320,823)		338,724		—		17,901
Income tax benefit (provision)	15,578		(15,579)		—		(1)		62,481		(71,140)		—		(8,659)
Net loss from continuing operations	(2,252)		(10,088)		—		(12,340)		(258,342)		267,584		—		9,242
Loss on the sale of Care.com, net of income taxes	(75,643)		75,643		—		—		—		—		—		—
Earnings from discontinued operations, net of income taxes	7,225		(7,225)		—		—		43,774		(43,774)		—		—
Net (loss) earnings	(70,670)		58,330		—		(12,340)		(214,568)		223,810		—		9,242
Net earnings attributable to noncontrolling interests	(1,212)		1,212		—		—		(2,237)		2,237		—		—
Net (loss) earnings attributable to shareholders	(71,882)		59,542		—		(12,340)		(216,805)		226,047		—		9,242
Other comprehensive (loss) income(a)	(2,212)		2,602		—		390		781		(2,656)		—		(1,875)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Comprehensive (loss) income attributable to shareholders	$	(74,094)	$	62,144	$	—	$	(11,950)	$	(216,024)	$	223,391	$	—	$	7,367

Stock-based compensation expense by function:
Cost of revenue	$	264	$	—	$	—	$	264	$	335	$	—	$	—	$	335
Selling and marketing expense	939		(406)		—		533		676		(114)		—		562
General and administrative expense	14,349		(7,106)		—		7,243		(22,906)		27,121		—		4,215
Product development expense	860		(210)		—		650		505		(124)		—		381
Total stock-based compensation expense	$	16,412	$	(7,722)	$	—	$	8,690	$	(21,390)	$	26,883	$	—	$	5,493

_____________________

(a) The three months ended March 31, 2026 and 2025 for People Inc. include $1.1 million and $(1.8) million of change in net unrealized gains (losses) on interest rate swaps, respectively, and $(0.8) million and $(0.1) million of change in foreign currency translation adjustment, respectively.

CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
Cash flows from operating activities attributable to continuing operations:
Net (loss) earnings	$	(70,670)	$	58,330	$	—	$	(12,340)	$	(214,568)	$	223,810	$	—	$	9,242
Less: Loss on the sale of Care.com, net of income taxes	(75,643)		75,643		—		—		—		—		—		—
Less: Earnings from discontinued operations, net of income taxes	7,225		(7,225)		—		—		43,774		(43,774)		—		—
Net loss attributable to continuing operations	(2,252)		(10,088)		—		(12,340)		(258,342)		267,584		—		9,242
Adjustments to reconcile net loss attributable to continuing operations to net cash provided by (used in) operating activities attributable to continuing operations:
Amortization of intangibles	19,040		—		—		19,040		22,418		—		—		22,418
Stock-based compensation expense	16,412		(7,722)		—		8,690		(21,390)		26,883		—		5,493


	Three Months Ended March 31, 2026				Three Months Ended March 31, 2025
	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.
Non-cash lease expense (including right-of-use asset impairments)	7,543	(190)	—	7,353	8,724	(346)	—	8,378
Depreciation	7,314	(1,946)	—	5,368	11,241	(2,068)	—	9,173


Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses	4,574	(4,574)	—	—	7,538	(7,538)	—	—
Unrealized (gain) loss on investment in MGM Resorts International	(34,005)	34,005	—	—	324,265	(324,265)	—	—
Deferred income taxes	(15,121)	14,727	—	(394)	(63,833)	71,190	—	7,357
Gain on sale of an unutilized domain name	(7,500)	7,500	—	—	—	—	—	—
Net gains on amendments and early terminations of lease agreements	—	—	—	—	(36,038)	—	—	(36,038)
Other adjustments, net	2,828	(209)	—	2,619	1,348	(26)	—	1,322
Changes in assets and liabilities, net of effects of dispositions:
Accounts receivable	86,268	(1,020)	—	85,248	76,641	(259)	—	76,382
Other assets	(940)	(4,102)	—	(5,042)	(32,650)	27,159	—	(5,491)
Operating lease liabilities	(14,545)	572	—	(13,973)	(33,950)	359	—	(33,591)
Accounts payable and other liabilities	(61,564)	8,002	10,810	(42,752)	(35,588)	(22,773)	8,624	(49,737)
Income taxes payable and receivable	(635)	861	—	226	1,611	(214)	—	1,397
Deferred revenue	2,547	(936)	—	1,611	694	(372)	—	322
Net cash provided by (used in) operating activities attributable to continuing operations	9,964	34,880	10,810	55,654	(27,311)	35,314	8,624	16,627
Cash flows from investing activities attributable to continuing operations:

Capital expenditures	(7,961)	97	—	(7,864)	(4,136)	283	—	(3,853)



Net proceeds from the sale of Care.com	295,697	(295,697)	—	—	—	—	—	—


	Three Months Ended March 31, 2026				Three Months Ended March 31, 2025
	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.
Purchase of MGM Resorts International common shares	(37,232)	37,232	—	—	—	—	—	—
Allocation of Angi Inc.'s cash in the Distribution	—	—	—	—	(386,563)	386,563	—	—
Proceeds from the sale of an unutilized domain name	7,500	(7,500)	—	—	—	—	—	—
Net proceeds from the sales of investments and businesses	38	(38)	—	—	10,096	(10,096)	—	—


Proceeds from the sale of a portion of the retirement investment fund	—	—	—	—	5,248	—	—	5,248


Other, net	2,602	(1,212)	—	1,390	134	(132)	—	2
Net cash provided by (used in) investing activities attributable to continuing operations	260,644	(267,118)	—	(6,474)	(375,221)	376,618	—	1,397
Cash flows from financing activities attributable to continuing operations:
Principal payments on the Term Loans	(6,125)	—	—	(6,125)	(8,750)	—	—	(8,750)




Withholding taxes paid on behalf of employees on net settled stock-based awards	(17,999)	9,058	—	(8,941)	(45,183)	34,754	—	(10,429)
Purchases of treasury stock	(123,574)	123,574	—	—	(179,394)	179,394	—	—

Reimbursement to IAC for shares issued to settle People Inc. SARs	—	—	(1,815)	(1,815)	—	—	(6,118)	(6,118)
Distribution from Angi Inc. pursuant to the tax sharing agreement	6,542	(6,542)	—	—	—	—	—	—
Intercompany between People Inc. and IAC Inc.	—	8,995	(8,995)	—	—	2,506	(2,506)	—
Other, net	4	2	—	6	(655)	655	—	—
Net cash used in financing activities attributable to continuing operations	(141,152)	135,087	(10,810)	(16,875)	(233,982)	217,309	(8,624)	(25,297)
Total cash provided by (used in) continuing operations	129,456	(97,151)	—	32,305	(636,514)	629,241	—	(7,273)
Net cash provided by operating activities attributable to discontinued operations	5,424	(5,424)	—	—	24,617	(24,617)	—	—


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Net cash used in investing activities attributable to discontinued operations	(60)		60		—		—		(13,019)		13,019		—		—
Net cash used in financing activities attributable to discontinued operations	—		—		—		—		(14,362)		14,362		—		—
Total cash provided by (used in) discontinued operations	5,364		(5,364)		—		—		(2,764)		2,764		—		—
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1,411)		511		—		(900)		362		(164)		—		198
Net increase (decrease) in cash and cash equivalents and restricted cash	133,409		(102,004)		—		31,405		(638,916)		631,841		—		(7,075)
Cash and cash equivalents and restricted cash at beginning of period	986,831		(694,652)		—		292,179		1,807,255		(1,550,133)		—		257,122
Cash and cash equivalents and restricted cash at end of period	$	1,120,240	$	(796,656)	$	—	$	323,584	$	1,168,339	$	(918,292)	$	—	$	250,047

PEOPLE INC. CONSOLIDATED STATEMENTS OF SHAREHOLDER’S EQUITY FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Common Stock (500,000 shares authorized)			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive (Loss) Income		Total Shareholder's Equity
	$0.01 par value
	$		Shares
	(In thousands, except share count)
Balance at December 31, 2025	$	3	317,570	$	1,570,603	$	(587,788)	$	(14,443)	$	968,375
Net loss	—		—	—		(12,340)		—		(12,340)
Other comprehensive income	—		—	—		—		390		390
Stock-based compensation expense	—		—	8,690		—		—		8,690


Withholding taxes paid on behalf of employees on net settled stock-based awards	—		—	(8,941)		—		—		(8,941)
Reimbursement to IAC for settlement of equity awards held by employees	—		—	(8,719)		—		—		(8,719)
Balance at March 31, 2026	$	3	317,570	$	1,561,633	$	(600,128)	$	(14,053)	$	947,455


	Common Stock (500,000 shares authorized)			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total Shareholder's Equity
	$0.01 par value
	$		Shares
	(In thousands, except share count)
Balance at December 31, 2024	$	3	317,570	$	1,556,899	$	(650,336)	$	(10,688)	$	895,878
Net earnings	—		—	—		9,242		—		9,242
Other comprehensive loss	—		—	—		—		(1,875)		(1,875)
Stock-based compensation expense	—		—	5,493		—		—		5,493


Withholding taxes paid on behalf of employees on net settled stock-based awards	—		—	(10,429)		—		—		(10,429)
Reimbursement to IAC for settlement of equity awards held by employees	—		—	(10,152)		—		—		(10,152)
Balance at March 31, 2025	$	3	317,570	$	1,541,811	$	(641,094)	$	(12,563)	$	888,157

LONG-TERM DEBT - Narrative (Details) - USD ($) $ in Millions					3 Months Ended	12 Months Ended		27 Months Ended
	Jan. 01, 2029	Mar. 31, 2026	Jun. 16, 2025	Nov. 26, 2024	Mar. 31, 2026	Dec. 31, 2028	Dec. 31, 2025	Dec. 31, 2027	May 14, 2025
Term Loan A-1 Facility \| Term Loan
Debt Instrument [Line Items]
Face amount of debt instrument									$ 350.0
Interest rate on debt instrument (as a percent)		5.67%			5.67%		5.73%
Basis spread on variable rate (as a percent)					2.00%		2.00%
Term Loan A-1 Facility \| Term Loan \| Forecast
Debt Instrument [Line Items]
Quarterly repayments of principal	$ 13.1					$ 8.8		$ 4.4
Revolving Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity									$ 150.0
Term Loan B-2 Facility \| Interest rate swaps
Debt Instrument [Line Items]
Notional amount		$ 350.0			$ 350.0
Term Loan B-2 Facility \| Variable Rate Component One \| Interest rate swaps
Debt Instrument [Line Items]
Weighted average fixed interest rate				3.82%
Term Loan B-2 Facility \| Term Loan
Debt Instrument [Line Items]
Face amount of debt instrument			$ 700.0
Interest rate on debt instrument (as a percent)		7.17%			7.17%		7.37%
Quarterly repayments of principal		$ 1.8
Basis spread on variable rate (as a percent)					3.50%		3.50%
Term Loan B-2 Facility \| Term Loan \| Variable Rate Component One \| Interest rate swaps
Debt Instrument [Line Items]
Interest rate on debt instrument (as a percent)				7.32%
Term Loan B-2 Facility \| Term Loan \| Variable Rate Component One \| Interest rate swaps \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.50%
Term Loan B-2 Facility \| Term Loan \| Variable Rate Component One \| Interest rate swaps \| Base Rate
Debt Instrument [Line Items]
Interest rate on debt instrument (as a percent)				3.50%
Term Loan B-2 Facility \| Term Loan \| Variable Rate Component Two \| Interest rate swaps \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.50%
Term Loan B-2 Facility \| Term Loan \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					0.50%		0.50%
Term Loan B-2 Facility \| Term Loan \| Minimum \| Variable Rate Component Two \| Interest rate swaps
Debt Instrument [Line Items]
Interest rate on debt instrument (as a percent)				7.32%
Term Loan B-2 Facility \| Term Loan \| Maximum \| Variable Rate Component Two \| Interest rate swaps
Debt Instrument [Line Items]
Interest rate on debt instrument (as a percent)				7.42%
2032 Notes \| Senior Notes
Debt Instrument [Line Items]
Interest rate on debt instrument (as a percent)		7.625%	7.625%		7.625%
Redemption rate (as a percent)			100.00%
Existing Revolving Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee (in basis points)					0.35%		0.35%

FINANCIAL STATEMENT DETAILS - Other (Expense) Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest income	$ 9,529	$ 14,357
Gain on sale of an unutilized domain name	7,500	0
Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses	(4,574)	(7,626)
Other	1,634	901
Other income, net	$ 14,089	$ 7,632

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Income Tax Disclosure [Abstract]
Income tax benefit (provision)	$ 15,578	$ 62,481
Effective income tax rate (as a percent)	87.00%	19.00%
Unrecognized tax benefits, including interest and penalties	$ 12,900		$ 13,000
Decrease in unrecognized tax benefits	100
Unrecognized tax benefits, if subsequently recognized would reduce income tax expense	$ 12,100		$ 12,100

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
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-Name Accounting Standards Codification
-Section 55
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
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-Section 55
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-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section S50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
-Paragraph 1
-Subparagraph (i)
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-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
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-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

FINANCIAL STATEMENT DETAILS - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1	$ 8,715	$ 6,686
Current period provision for credit losses	1,531	1,123
Write-offs charged against the allowance	(3,931)	(1,315)
Recoveries collected	11	27
Balance at March 31	$ 6,326	$ 6,521

SEGMENT INFORMATION - Capital Expenditures by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Capital expenditures	$ 7,961	$ 4,136
Operating Segments \| People Inc.
Segment Reporting Information [Line Items]
Capital expenditures	7,864	3,853
Corporate
Segment Reporting Information [Line Items]
Capital expenditures	$ 97	$ 283

LOSS PER SHARE

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

LOSS PER SHARE

NOTE 8—LOSS PER SHARE

The Company treats its common stock and Class B common stock as one class of stock for net earnings (loss) per share (“EPS”) purposes as both classes of stock participate in earnings, dividends and other distributions on the same basis.

Basic EPS is computed by dividing net earnings (loss) attributable to holders of IAC common stock and Class B common stock by the weighted-average number of shares of common stock and Class B common stock outstanding during the period.

Diluted EPS is computed by dividing net earnings (loss) attributable to holders of IAC common stock and Class B common stock by the weighted-average number of common stock and Class B common stock outstanding plus dilutive securities during the period.

The numerator and denominator of basic and diluted EPS computations for the Company’s common stock and Class B common stock are calculated as follows:


	Three Months Ended March 31,
		2026		2025
		(In thousands, except per share data)
Basic EPS:
Numerator:
Net loss from continuing operations		$	(2,252)	$	(258,342)
Net (earnings) loss from continuing operations attributable to noncontrolling interests		(1,212)		10
Net loss from continuing operations attributable to IAC common stock and Class B common stock shareholders		(3,464)		(258,332)

Loss on the sale of Care.com, net of income taxes		(75,643)		—
Earnings from discontinued operations, net of income taxes		7,225		43,774
Net earnings from discontinued operations attributable to noncontrolling interests		—		(2,247)
Net (loss) earnings from discontinued operations attributable to IAC common stock and Class B common stock shareholders		(68,418)		41,527

Net loss attributable to IAC common stock and Class B common stock shareholders		$	(71,882)	$	(216,805)

Denominator:
Weighted average basic IAC common stock and Class B common stock shares outstanding		76,742		82,214

Loss per share:
Loss per share from continuing operations attributable to IAC common stock and Class B common stock shareholders		$	(0.05)	$	(3.14)
(Loss) earnings per share from discontinued operations, net of income taxes, attributable to IAC common stock and Class B common stock shareholders		(0.89)		0.50
Loss per share attributable to IAC common stock and Class B common stock shareholders		$	(0.94)	$	(2.64)


	Three Months Ended March 31,
		2026		2025
		(In thousands, except per share data)
Diluted EPS:
Numerator:
Net loss from continuing operations		$	(2,252)	$	(258,342)
Net (earnings) loss from continuing operations attributable to noncontrolling interests		(1,212)		10

Net loss from continuing operations attributable to IAC common stock and Class B common stock shareholders		(3,464)		(258,332)

Loss on the sale of Care.com, net of income taxes		(75,643)		—
Earnings from discontinued operations, net of income taxes		7,225		43,774
Net earnings from discontinued operations attributable to noncontrolling interests		—		(2,247)
Net (loss) earnings from discontinued operations attributable to IAC common stock and Class B common stock shareholders		(68,418)		41,527

Net loss attributable to IAC common stock and Class B common stock shareholders		$	(71,882)	$	(216,805)

Denominator:
Weighted average basic IAC common stock and Class B common stock shares outstanding		76,742		82,214
Dilutive securities(a)		—		—
Denominator for earnings per share—weighted average shares(a)		76,742		82,214

Loss per share:
Loss per share from continuing operations attributable to IAC common stock and Class B common stock shareholders		$	(0.05)	$	(3.14)
(Loss) earnings per share from discontinued operations, net of income taxes, attributable to IAC common stock and Class B common stock shareholders		(0.89)		0.50
Loss per share attributable to IAC common stock and Class B common stock shareholders		$	(0.94)	$	(2.64)

_____________________

COVER - shares	3 Months Ended
COVER - shares	Mar. 31, 2026	May 01, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-39356
Entity Registrant Name	IAC Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3727412
Entity Address, Address Line One	555 West 18th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10011
City Area Code	212
Local Phone Number	314-7300
Title of 12(b) Security	Common stock, par value $0.0001
Trading Symbol	IAC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001800227
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		68,590,555
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,789,499

SEGMENT INFORMATION - Segment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Cost of revenue	$ 159,773	$ 187,315
Selling and marketing expense	133,030	157,369
General and administrative expense	104,107	43,477
Product development expense	39,695	35,742
Total operating costs and expenses	462,959	457,562
Gain on termination of lease	0	36,038
People Inc.
Segment Reporting Information [Line Items]
Total operating costs and expenses	342,226	312,780
Operating Segments \| Digital
Segment Reporting Information [Line Items]
Cost of revenue	77,349	76,514
Selling and marketing expense	70,651	62,378
General and administrative expense	25,682	26,372
Product development expense	29,629	27,727
Total operating costs and expenses	203,311	192,991
Operating Segments \| Print
Segment Reporting Information [Line Items]
Cost of revenue	70,182	76,042
Selling and marketing expense	50,315	61,599
General and administrative expense	9,711	9,849
Product development expense	1,256	1,499
Total operating costs and expenses	131,464	148,989
Operating Segments \| Search
Segment Reporting Information [Line Items]
Traffic acquisition costs and online marketing	13,864	59,951
Other segment items	11,494	7,369
Total operating costs and expenses	25,358	67,320
Corporate \| People Inc.
Segment Reporting Information [Line Items]
Total operating costs and expenses	12,782	(24,481)
Gain on termination of lease		36,200
Intersegment eliminations \| People Inc.
Segment Reporting Information [Line Items]
Total operating costs and expenses	$ (5,331)	$ (4,719)

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2026
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 11—RELATED PARTY TRANSACTIONS IAC and Expedia Group At March 31, 2026, the Company and Expedia Group each have a 50% ownership interest in two aircraft that may be used by both companies. Members of the aircraft flight crews are employed by an entity in which the Company and Expedia Group each have a 50% ownership interest. Historically, the Company and Expedia Group allocated fixed costs, including flight crew compensation and benefits, 50% to each company and shared variable costs pro-rata according to each company’s respective usage of the aircraft, for which they were separately billed by the entity described above. In December of 2025, the Company and Expedia Group amended their cost sharing arrangement to reflect the allocation of all costs on a pro-rata basis according to each company’s respective usage of the aircraft, with the exception of costs related to flights taken by Mr. Diller, of which each of the Company and Expedia Group continue to be responsible for 50%. The Company and Expedia Group are related parties because Mr. Diller serves as Chairman and Senior Executive of both IAC and Expedia Group. For both the three months ended March 31, 2026 and 2025, the payments made to this entity by the Company were not material. Expedia Group has had the use of an aircraft owned 100% by a subsidiary of the Company on a cost basis until the sale of such aircraft during the fourth quarter of 2025. For the three months ended March 31, 2025, the payments made by Expedia Group to the Company pursuant to this arrangement were not material. During the fourth quarter of 2025, the Company and Expedia Group entered into an arrangement to share security costs for Mr. Diller, with each company responsible for 50% of such costs. For the three months ended March 31, 2026, amounts pursuant to this arrangement were not material. Expedia Group occupies office space in the Company’s New York City headquarters building. The total payments pursuant to this lease agreement, which expires September 2029, are not material.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

SEGMENT INFORMATION - Reconciliation of Adjusted EBITDA to Operating Income (Details) - USD ($) $ in Thousands, shares in Millions		3 Months Ended
	Jan. 13, 2025	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting, Other Significant Reconciling Item
Total Segment Adjusted EBITDA		$ 39,455	$ 78,782
Stock-based compensation expense		(16,412)	21,390
Depreciation		(7,314)	(11,241)
Amortization of intangibles		(19,040)	(22,418)
Interest expense		(25,858)	(28,314)
Unrealized gain (loss) on investment in MGM Resorts International		34,005	(324,265)
Other income, net		14,089	7,632
Loss from continuing operations before income taxes		(17,830)	(320,823)
Chief Executive Officer \| Restricted Stock \| Employment Transition Agreement
Segment Reporting, Other Significant Reconciling Item
Stock-based compensation expense	$ (14,900)
Reversal of stock-based compensation expense related to individual			49,800
Chief Executive Officer \| Restricted Stock \| Employment Transition Agreement \| Class B common stock
Segment Reporting, Other Significant Reconciling Item
Shares transferred (in shares)	5.0
Operating Segments
Segment Reporting, Other Significant Reconciling Item
Total Segment Adjusted EBITDA		39,455	78,782
Corporate
Segment Reporting, Other Significant Reconciling Item
Total Segment Adjusted EBITDA		$ (36,755)	$ (42,389)

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company prepares its consolidated financial statements (referred to herein as “financial statements”) in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). The financial statements include all accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. All intercompany transactions and balances between entities comprising the Company have been eliminated. The unaudited interim financial statements have been prepared in accordance with GAAP for interim financial information and with the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the unaudited interim financial statements include all normal recurring adjustments considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The unaudited interim financial statements should be read in conjunction with the annual audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.
Accounting Estimates	Accounting Estimates Management of the Company is required to make certain estimates, judgments and assumptions, if applicable, during the preparation of its financial statements in accordance with GAAP. These estimates, judgments and assumptions affect the amounts reported in the financial statements and the disclosures in the accompanying notes. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates, judgments and assumptions, if applicable, including those related to: the fair value of cash equivalents; the carrying value of accounts receivable, including the determination of the allowance for credit losses; the recoverability of right-of-use assets (“ROU assets”); the useful lives and recoverability of buildings, equipment, leasehold improvements and capitalized software and definite-lived intangible assets; the recoverability of goodwill and indefinite-lived intangible assets; the fair value of equity securities without readily determinable fair values; the fair value of interest rate swaps; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; pension and post-retirement benefit plan assets and liabilities, including actuarial assumptions regarding discount rates, expected returns on plan assets, inflation and healthcare costs; and the fair value of and forfeiture rates for stock-based awards, among others. The Company bases its estimates, judgments and assumptions on historical experience, its forecasts and budgets and other factors that the Company considers relevant.
General Revenue Recognition	General Revenue Recognition The Company accounts for a contract with a customer when it has approval and commitment from all authorized parties, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of the consideration is probable. Revenue is recognized when control of the promised services or goods is transferred to the Company’s customers and in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or goods. The Company’s disaggregated revenue disclosures are presented in “Note 5—Segment Information.” Practical Expedients and Exemptions For contracts that have an original duration of one year or less, the Company uses the practical expedient available under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), applicable to such contracts and does not consider the time value of money. In addition, as permitted under the practical expedient available under ASC 606, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is tied to sales-based or usage-based royalties, allocated entirely to unsatisfied performance obligations, or to a wholly unsatisfied promise accounted for under the series guidance and (iii) contracts for which the Company recognizes revenue at the amount which it has the right to invoice for services performed. The Company also applies the practical expedient to expense commissions paid pursuant to sales incentive programs as incurred where the anticipated customer relationship period is one year or less. Deferred Revenue Deferred revenue consists of payments received or amounts contractually due in advance of the Company's performance obligation. The Company’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the remaining term or expected completion of its performance obligation is one year or less.
Certain Risks and Concentrations	Certain Risks and Concentrations Services Agreement with Google and the Shutdown of the Search Segment On December 10, 2025, the Company received a notice of non-renewal (the “Notice”) from Google of the services agreement, dated October 26, 2015 and as subsequently amended (the “Services Agreement”). As a result of the Notice, the Services Agreement was due to expire on March 31, 2026; the Services Agreement was extended through April 30, 2026, at which point the Services Agreement expired. All revenue attributable to the Services Agreement was earned exclusively by the Company’s Search segment. The Company earns certain other advertising revenue from Google that is not attributable to the Services Agreement, and such advertising revenue is not affected by the expiration of the Services Agreement. A portion of the Company’s net cash from operating activities that it could freely access was attributable to revenue earned pursuant to the Services Agreement.
Recent Accounting Pronouncements Not Yet Adopted by the Company	Recent Accounting Pronouncements Not Yet Adopted by the Company ASU No. 2024-03—Income Statement-Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)—Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU No. 2024-03, which is intended to provide users of financial statements with more decision-useful information about expenses of a public business entity, primarily through enhanced disclosures of certain components of expenses commonly presented within captions on the statement of operations, such as purchases of inventory, employee compensation, depreciation and amortization, as well as a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU No. 2024-03 also requires disclosure of the total amount of selling expenses and, in annual reporting periods, the definition of selling expenses. ASU No. 2024-03 is effective for fiscal years beginning after December 15, 2026 and for interim periods beginning after December 15, 2027. Early adoption is permitted and ASU No. 2024-03 may be applied either prospectively or retrospectively. ASU No. 2024-03 does not affect the Company’s results of operations, financial condition or cash flows. The Company plans to apply ASU 2024-03 on a prospective basis and does not plan to early adopt ASU No. 2024-03; the Company is currently assessing its impact on its disclosures. ASU No. 2025-06—Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to Accounting for Internal-Use Software In September 2025, the FASB issued ASU No. 2025-06, which amends the existing standard by removing references to software development project stages and clarifying the criteria for capitalization. ASU No. 2025-06 is effective for fiscal years beginning after December 15, 2027 and for interim periods within those fiscal years. Early adoption is permitted, and ASU No. 2025-06 may be applied prospectively, retrospectively or with a modified transition approach. The Company expects to adopt ASU No. 2025-06 on a prospective basis and is assessing its impact on its results of operations, financial condition and cash flows.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-SubTopic 10
-Topic 235
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-URI https://asc.fasb.org/1943274/2147483426/235-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets:
Investment in MGM	$ 2,473,095	$ 2,401,858
Total	3,393,935	3,162,438
Liabilities:
Interest rate swaps	(510)	(2,018)
Money market funds
Assets:
Cash equivalents	902,032	739,891
Time deposits
Assets:
Cash equivalents	18,808	20,689
Level 1
Assets:
Investment in MGM	2,473,095	2,401,858
Total	3,375,127	3,141,749
Liabilities:
Interest rate swaps	0	0
Level 1 \| Money market funds
Assets:
Cash equivalents	902,032	739,891
Level 1 \| Time deposits
Assets:
Cash equivalents	0	0
Level 2
Assets:
Investment in MGM	0	0
Total	18,808	20,689
Liabilities:
Interest rate swaps	(510)	(2,018)
Level 2 \| Money market funds
Assets:
Cash equivalents	0	0
Level 2 \| Time deposits
Assets:
Cash equivalents	18,808	20,689
Level 3
Assets:
Investment in MGM	0	0
Total	0	0
Liabilities:
Interest rate swaps	0	0
Level 3 \| Money market funds
Assets:
Cash equivalents	0	0
Level 3 \| Time deposits
Assets:
Cash equivalents	$ 0	$ 0

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	$ 4,763,759	$ 6,278,973
Total other comprehensive (loss) income, net of income taxes	(2,212)	1,214
Distribution of Angi		(1,065,994)
Balance at end of period	4,582,449	4,737,438
Interest rate swaps loss expected to be reclassified into interest expense with next twelve months	500
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(10,308)	(12,703)
Other comprehensive (loss) income before reclassifications	(817)
Amounts reclassified to earnings	(2,541)
Total other comprehensive (loss) income, net of income taxes	(3,358)
Balance at end of period	(13,666)	(10,500)
Foreign Currency Translation Adjustment including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income before reclassifications		2,581
Amounts reclassified to earnings		0
Total other comprehensive (loss) income, net of income taxes		2,581
Distribution of Angi		(382)
Foreign Currency Translation Adjustment attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive (loss) income, net of income taxes		4
Unrealized (Losses) Gains On Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(1,534)	1,307
Other comprehensive (loss) income before reclassifications	1,028
Amounts reclassified to earnings	118
Total other comprehensive (loss) income, net of income taxes	1,146
Balance at end of period	(388)	(493)
Tax benefit on accumulated other comprehensive loss	100	200
Unrealized Gains (Losses) On Interest Rate Swaps including portion attributable to Noncontrolling interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income before reclassifications		(1,355)
Amounts reclassified to earnings		(445)
Total other comprehensive (loss) income, net of income taxes		(1,800)
Distribution of Angi		0
Unrealized Gains (Losses) On Interest Rate Swaps attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive (loss) income, net of income taxes		0
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(11,842)	(11,396)
Other comprehensive (loss) income before reclassifications	211
Amounts reclassified to earnings	(2,423)
Total other comprehensive (loss) income, net of income taxes	(2,212)	781
Distribution of Angi		(382)
Balance at end of period	$ (14,054)	(10,993)
Accumulated Other Comprehensive (Loss) Income including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income before reclassifications		1,226
Amounts reclassified to earnings		(445)
Total other comprehensive (loss) income, net of income taxes		781
Distribution of Angi		(382)
Accumulated Other Comprehensive (Loss) Income attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive (loss) income, net of income taxes		$ 4

DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 12—DISCONTINUED OPERATIONS

IAC completed the sale of Care.com on March 16, 2026 and the Distribution of Angi on March 31, 2025. As a result of these transactions, Care.com and Angi are presented as discontinued operations within IAC’s consolidated financial statements for all periods prior to March 16, 2026 and March 31, 2025, respectively. See “Note 1—The Company and Summary of Significant Accounting Policies” for additional information.

The components of Care.com’s assets and liabilities reflected as discontinued operations in the balance sheet at December 31, 2025 consisted of the following:


	December 31, 2025
	(In thousands)
Current assets
Cash and cash equivalents	$	18,900
Accounts receivable, net	32,197
Other current assets	33,536
Total current assets of discontinued operations	$	84,633

Non-current assets
Capitalized software, leasehold improvements and equipment, net	$	2,999
Goodwill	283,445
Intangible assets, net	71,479
Deferred income taxes	64,309
Other non-current assets	4,727
Total non-current assets of discontinued operations	$	426,959

Current liabilities
Accounts payable, trade	$	635
Deferred revenue	31,289
Accrued expenses and other current liabilities	44,723
Total current liabilities of discontinued operations	$	76,647

Non-current liabilities
Deferred income taxes	$	4,167
Other non-current liabilities	4,490
Total non-current liabilities of discontinued operations	$	8,657


	Three Months Ended March 31, 2026

	(In thousands)
Revenue	$	73,559
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	15,818
Selling and marketing expense	20,301
General and administrative expense(a)	12,757
Product development expense	10,389
Depreciation	250
Amortization of intangibles	596

Total operating costs and expenses	60,111
Operating income from discontinued operations	13,448

Other expense, net	(324)
Earnings from discontinued operations before income taxes	13,124
Income tax provision	(5,899)
Earnings from discontinued operations, net of income taxes	$	7,225

_____________________

The components of earnings from discontinued operations in the statement of operations for 2025 consisted of the following:


	Three months ended March 31, 2025
	Care.com		Angi		Intersegment Eliminations		Consolidated IAC
	(In thousands)
Revenue	$	88,821	$	245,913	$	(19)	$	334,715
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	17,968		13,015		—		30,983
Selling and marketing expense	23,545		118,541		—		142,086
General and administrative expense(b)	19,346		56,983		(19)		76,310
Product development expense	14,471		27,087		—		41,558
Depreciation	705		9,948		—		10,653
Amortization of intangibles	1,115		—		—		1,115

Total operating costs and expenses	77,150		225,574		(19)		302,705
Operating income from discontinued operations	11,671		20,339		—		32,010
Interest expense	—		(5,044)		—		(5,044)
Other income, net	56		4,828		—		4,884
Earnings from discontinued operations before income taxes	11,727		20,123		—		31,850
Income tax benefit (provision)	16,753		(4,829)		—		11,924
Earnings from discontinued operations, net of income taxes	$	28,480	$	15,294	$	—	$	43,774

_____________________

(b) The three months ended March 31, 2025 include the reversal of $10.2 million in stock-based compensation expense that was previously recognized by Angi with respect to restricted shares.

FINANCIAL STATEMENT DETAILS (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the balance sheet to the total amounts shown in the statement of cash flows:


	March 31, 2026		December 31, 2025		March 31, 2025		December 31, 2024
	(In thousands)
Cash and cash equivalents	$	1,112,445	$	941,311	$	1,143,084	$	1,363,547
Restricted cash included in other current assets	—		—		—		7,195
Restricted cash included in other non-current assets	7,795		7,861		7,444		—
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		37,659		17,811		436,402
Restricted cash included in other non-current assets of discontinued operations	—		—		—		111
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	1,120,240	$	986,831	$	1,168,339	$	1,807,255

The following table presents the cash and cash equivalents by geographic location:


	March 31, 2026		December 31, 2025		March 31, 2025		December 31, 2024
	(In thousands)
People Inc. cash and cash equivalents:
United States	$	295,270	$	261,904	$	222,525	$	230,436
All other countries	20,519		22,414		20,078		19,491
Total People Inc. cash and cash equivalents	315,789		284,318		242,603		249,927

IAC (excluding People Inc.) cash and cash equivalents
United States	794,149		653,480		884,524		1,086,888
All other countries	2,507		3,513		15,957		26,732
Total IAC (excluding People Inc.) cash and cash equivalents	796,656		656,993		900,481		1,113,620

Total cash and cash equivalents	$	1,112,445	$	941,311	$	1,143,084	$	1,363,547

Schedule of Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the balance sheet to the total amounts shown in the statement of cash flows:


	March 31, 2026		December 31, 2025		March 31, 2025		December 31, 2024
	(In thousands)
Cash and cash equivalents	$	1,112,445	$	941,311	$	1,143,084	$	1,363,547
Restricted cash included in other current assets	—		—		—		7,195
Restricted cash included in other non-current assets	7,795		7,861		7,444		—
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		37,659		17,811		436,402
Restricted cash included in other non-current assets of discontinued operations	—		—		—		111
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	1,120,240	$	986,831	$	1,168,339	$	1,807,255

Schedule of Credit Losses

The following table presents the changes in the allowance for credit losses:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Balance at January 1	$	8,715	$	6,686
Current period provision for credit losses	1,531		1,123
Write-offs charged against the allowance	(3,931)		(1,315)
Recoveries collected	11		27

Balance at March 31	$	6,326	$	6,521

Schedule of Accumulated Depreciation and Amortization

The following table provides the accumulated depreciation and amortization within the balance sheet:


Asset Category	March 31, 2026		December 31, 2025
	(In thousands)
Buildings, equipment, leasehold improvements and capitalized software	$	196,188	$	191,044
Intangible assets	$	648,734	$	637,194

Schedule of Other Income, Net


	Three Months Ended March 31,
		2026		2025
		(In thousands)

Interest income		$	9,529	$	14,357
Gain on sale of an unutilized domain name		7,500		—
Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses		(4,574)		(7,626)

Other		1,634		901
Other income, net		$	14,089	$	7,632

ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

NOTE 4—ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables present the components of accumulated other comprehensive loss, net of income taxes.


	Three Months Ended March 31, 2026
	Foreign Currency Translation Adjustment		Unrealized (Losses) Gains On Interest Rate Swaps		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(10,308)	$	(1,534)	$	(11,842)
Other comprehensive (loss) income before reclassifications	(817)		1,028		211
Amounts reclassified to earnings	(2,541)		118		(2,423)
Net current period other comprehensive (loss) income	(3,358)		1,146		(2,212)
Balance at March 31	$	(13,666)	$	(388)	$	(14,054)


	Three Months Ended March 31, 2025
		Foreign Currency Translation Adjustment		Unrealized Gains (Losses) On Interest Rate Swaps		Accumulated Other Comprehensive (Loss) Income
		(In thousands)
Balance at January 1		$	(12,703)	$	1,307	$	(11,396)
Other comprehensive income (loss) before reclassifications		2,581		(1,355)		1,226
Amounts reclassified to earnings		—		(445)		(445)
Net current period other comprehensive income (loss)		2,581		(1,800)		781
Accumulated other comprehensive loss allocated to noncontrolling interests during the period		4		—		4
Distribution of Angi		(382)		—		(382)
Balance at March 31		$	(10,500)	$	(493)	$	(10,993)

The amount reclassified out of foreign currency translation adjustment into earnings for the three months ended March 31, 2026 relates to the sale of Care.com on March 16, 2026 and is recorded in “Loss on the sale of Care.com, net of income taxes” in the statement of operations.

At March 31, 2026, $0.5 million is expected to be reclassified into interest expense within the next twelve months as net realized losses related to the interest rate swaps.

At March 31, 2026 and 2025, there was $0.1 million and $0.2 million of deferred income tax benefit, respectively, related to unrealized losses on interest rate swaps.

PEOPLE INC. FINANCIAL INFORMATION - Consolidated Statement of Operations and Comprehensive Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Condensed Income Statements, Captions [Line Items]
Revenue	$ 422,893	$ 481,686
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	159,773	187,315
Selling and marketing expense	133,030	157,369
General and administrative expense	104,107	43,477
Product development expense	39,695	35,742
Depreciation	7,314	11,241
Amortization of intangibles	19,040	22,418
Total operating costs and expenses	462,959	457,562
Operating (loss) income	(40,066)	24,124
Interest expense	(25,858)	(28,314)
Unrealized gain (loss) on investment in MGM Resorts International	34,005	(324,265)
Other income, net	14,089	7,632
(Loss) earnings from continuing operations before income taxes	(17,830)	(320,823)
Income tax benefit (provision)	15,578	62,481
Net loss from continuing operations	(2,252)	(258,342)
Loss on the sale of Care.com, net of income taxes	(75,643)	0
Earnings from discontinued operations, net of income taxes	7,225	43,774
Net loss	(70,670)	(214,568)
Net earnings attributable to noncontrolling interests	(1,212)	(2,237)
Net loss attributable to IAC shareholders	(71,882)	(216,805)
Other comprehensive (loss) income	(2,212)	781
Comprehensive (loss) income attributable to shareholders	(74,094)	(216,024)
Stock-based compensation expense	16,412	(21,390)
Change in net unrealized losses on interest rate swaps	1,100	(1,800)
Changes in foreign currency translation adjustment	(800)	(100)
Cost of revenue
Operating costs and expenses:
Stock-based compensation expense	264	335
Selling and marketing expense
Operating costs and expenses:
Stock-based compensation expense	939	676
General and administrative expense
Operating costs and expenses:
Stock-based compensation expense	14,349	(22,906)
Product development expense
Operating costs and expenses:
Stock-based compensation expense	860	505
Reportable Legal Entities \| People Inc.
Condensed Income Statements, Captions [Line Items]
Revenue	385,729	393,071
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	147,795	152,891
Selling and marketing expense	116,168	119,820
General and administrative expense	55,418	15,955
Product development expense	31,535	29,607
Depreciation	5,368	9,173
Amortization of intangibles	19,040	22,418
Total operating costs and expenses	375,324	349,864
Operating (loss) income	10,405	43,207
Interest expense	(25,858)	(28,314)
Unrealized gain (loss) on investment in MGM Resorts International	0	0
Other income, net	3,114	3,008
(Loss) earnings from continuing operations before income taxes	(12,339)	17,901
Income tax benefit (provision)	(1)	(8,659)
Net loss from continuing operations	(12,340)	9,242
Loss on the sale of Care.com, net of income taxes	0	0
Earnings from discontinued operations, net of income taxes	0	0
Net loss	(12,340)	9,242
Net earnings attributable to noncontrolling interests	0	0
Net loss attributable to IAC shareholders	(12,340)	9,242
Other comprehensive (loss) income	390	(1,875)
Comprehensive (loss) income attributable to shareholders	(11,950)	7,367
Stock-based compensation expense	8,690	5,493
Reportable Legal Entities \| People Inc. \| Cost of revenue
Operating costs and expenses:
Stock-based compensation expense	264	335
Reportable Legal Entities \| People Inc. \| Selling and marketing expense
Operating costs and expenses:
Stock-based compensation expense	533	562
Reportable Legal Entities \| People Inc. \| General and administrative expense
Operating costs and expenses:
Stock-based compensation expense	7,243	4,215
Reportable Legal Entities \| People Inc. \| Product development expense
Operating costs and expenses:
Stock-based compensation expense	650	381
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc.
Condensed Income Statements, Captions [Line Items]
Revenue	37,174	88,616
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	12,015	34,437
Selling and marketing expense	16,862	37,549
General and administrative expense	48,662	27,510
Product development expense	8,160	6,135
Depreciation	1,946	2,068
Amortization of intangibles	0	0
Total operating costs and expenses	87,645	107,699
Operating (loss) income	(50,471)	(19,083)
Interest expense	0	0
Unrealized gain (loss) on investment in MGM Resorts International	34,005	(324,265)
Other income, net	10,975	4,624
(Loss) earnings from continuing operations before income taxes	(5,491)	(338,724)
Income tax benefit (provision)	15,579	71,140
Net loss from continuing operations	10,088	(267,584)
Loss on the sale of Care.com, net of income taxes	(75,643)	0
Earnings from discontinued operations, net of income taxes	7,225	43,774
Net loss	(58,330)	(223,810)
Net earnings attributable to noncontrolling interests	(1,212)	(2,237)
Net loss attributable to IAC shareholders	(59,542)	(226,047)
Other comprehensive (loss) income	(2,602)	2,656
Comprehensive (loss) income attributable to shareholders	(62,144)	(223,391)
Stock-based compensation expense	7,722	(26,883)
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc. \| Cost of revenue
Operating costs and expenses:
Stock-based compensation expense	0	0
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc. \| Selling and marketing expense
Operating costs and expenses:
Stock-based compensation expense	406	114
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc. \| General and administrative expense
Operating costs and expenses:
Stock-based compensation expense	7,106	(27,121)
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc. \| Product development expense
Operating costs and expenses:
Stock-based compensation expense	210	124
Eliminations and Reclassifications
Condensed Income Statements, Captions [Line Items]
Revenue	10	1
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	37	13
General and administrative expense	(27)	(12)
Total operating costs and expenses	$ 10	$ 1

PENSION AND POST-RETIREMENT BENEFIT PLANS - Components of Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
U.S. \| Pension
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 28	$ 37
Expected return on plan assets	0	0
Actuarial loss recognition	1	0
Net periodic benefit cost	29	37
U.S. \| Post-Retirement
Defined Benefit Plan Disclosure [Line Items]
Interest cost	45	53
Expected return on plan assets	0	0
Actuarial loss recognition	0	0
Net periodic benefit cost	45	53
International \| Pension
Defined Benefit Plan Disclosure [Line Items]
Interest cost	5,890	5,155
Expected return on plan assets	(5,839)	(5,143)
Actuarial loss recognition	0	0
Net periodic benefit cost	$ 51	$ 12

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (c)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (c)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
-Paragraph 5
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

+ Details

PEOPLE INC. FINANCIAL INFORMATION - Statements of Consolidated Shareholder's Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	$ 4,733,827
Net (loss) earnings	(71,882)	$ (216,805)
Other comprehensive income (loss)	(2,212)	1,214
Stock-based compensation expense	17,349	(21,052)
Withholding taxes paid on behalf of employees on net settled stock-based awards		(9,347)
Balance at end of period	4,549,452
Additional Paid-in-Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	16,996	(20,400)
Withholding taxes paid on behalf of employees on net settled stock-based awards		(9,347)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	$ (2,212)	$ 781
People Inc. \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Common stock authorized (in shares)	500,000	500,000
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	$ 968,375	$ 895,878
Net (loss) earnings	(12,340)	9,242
Other comprehensive income (loss)	390	(1,875)
Stock-based compensation expense	8,690	5,493
Withholding taxes paid on behalf of employees on net settled stock-based awards	(8,941)	(10,429)
Reimbursement to IAC for settlement of equity awards held by employees	(8,719)	(10,152)
Balance at end of period	947,455	888,157
People Inc. \| Reportable Legal Entities \| Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	$ 3	$ 3
Balance at beginning of period (in shares)	317,570	317,570
Balance at end of period	$ 3	$ 3
Balance at end of period (in shares)	317,570	317,570
People Inc. \| Reportable Legal Entities \| Additional Paid-in-Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	$ 1,570,603	$ 1,556,899
Stock-based compensation expense	8,690	5,493
Withholding taxes paid on behalf of employees on net settled stock-based awards	(8,941)	(10,429)
Reimbursement to IAC for settlement of equity awards held by employees	(8,719)	(10,152)
Balance at end of period	1,561,633	1,541,811
People Inc. \| Reportable Legal Entities \| Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	(587,788)	(650,336)
Net (loss) earnings	(12,340)	9,242
Balance at end of period	(600,128)	(641,094)
People Inc. \| Reportable Legal Entities \| Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	(14,443)	(10,688)
Other comprehensive income (loss)	390	(1,875)
Balance at end of period	$ (14,053)	$ (12,563)

LOSS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator: Basic
Net loss from continuing operations	$ (2,252)	$ (258,342)
Net (earnings) loss from continuing operations attributable to noncontrolling interests	(1,212)	10
Net loss from continuing operations attributable to IAC common stock and Class B common stock shareholders	(3,464)	(258,332)
Loss on the sale of Care.com, net of income taxes	(75,643)	0
Earnings from discontinued operations, net of income taxes	7,225	43,774
Net earnings from discontinued operations attributable to noncontrolling interests	0	(2,247)
Net (loss) earnings from discontinued operations attributable to IAC common stock and Class B common stock shareholders	(68,418)	41,527
Net loss attributable to IAC common stock and Class B common stock shareholders	$ (71,882)	$ (216,805)
Denominator: Basic
Weighted average basic IAC common stock and Class B common stock shares outstanding (in shares)	76,742	82,214
Loss per share:
Loss per share from continuing operations attributable to IAC common stock and Class B common stock shareholders (USD per share)	$ (0.05)	$ (3.14)
(Loss) earnings per share from discontinued operations, net of income taxes, attributable to IAC common stock and Class B common stock shareholders (USD per share)	(0.89)	0.50
Loss per share attributable to IAC common stock and Class B common stock shareholders (USD per share)	$ (0.94)	$ (2.64)
Numerator: Diluted
Net loss from continuing operations	$ (2,252)	$ (258,342)
Net (earnings) loss from continuing operations attributable to noncontrolling interests	(1,212)	10
Net loss from continuing operations attributable to IAC common stock and Class B common stock shareholders	(3,464)	(258,332)
Loss on the sale of Care.com, net of income taxes	(75,643)	0
Earnings from discontinued operations, net of income taxes	7,225	43,774
Net earnings from discontinued operations attributable to noncontrolling interests	0	(2,247)
Net (loss) earnings from discontinued operations attributable to IAC common stock and Class B common stock shareholders	(68,418)	41,527
Net loss attributable to IAC common stock and Class B common stock shareholders	$ (71,882)	$ (216,805)
Denominator: Diluted
Weighted average basic IAC common stock and Class B common stock shares outstanding (in shares)	76,742	82,214
Dilutive securities (in shares)	0	0
Denominator for earnings per share—weighted average shares (in shares)	76,742	82,214
Loss per share:
Loss per share from continuing operations attributable to IAC common stock and Class B common stock shareholders (USD per share)	$ (0.05)	$ (3.14)
(Loss) earnings per share from discontinued operations, net of income taxes, attributable to IAC common stock and Class B common stock shareholders (USD per share)	(0.89)	0.50
Loss per share attributable to IAC common stock and Class B common stock shareholders (USD per share)	$ (0.94)	$ (2.64)
Potentially dilutive securities excluded from calculation of diluted earnings per share (less than or equal to) (shares)	3,300	4,300

FINANCIAL STATEMENT DETAILS - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 1,112,445	$ 941,311	$ 1,143,084	$ 1,363,547
Restricted cash included in other current assets	0	0	0	7,195
Restricted cash included in other non-current assets	7,795	7,861	7,444	0
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	0	37,659	17,811	436,402
Restricted cash included in other non-current assets of discontinued operations	0	0	0	111
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$ 1,120,240	$ 986,831	$ 1,168,339	$ 1,807,255

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 1,112,445	$ 941,311	$ 1,143,084	$ 1,363,547
Accounts receivable, net	328,772	416,617
Other current assets	109,404	102,188
Current assets of discontinued operations	0	84,633
Total current assets	1,550,621	1,544,749
Buildings, land, equipment, leasehold improvements and capitalized software, net	285,630	284,394
Goodwill	1,507,911	1,508,030
Intangible assets, net of accumulated amortization	375,341	394,381
Investment in MGM Resorts International	2,473,095	2,401,858
Long-term investments	404,628	409,240
Other non-current assets	222,991	225,306
Non-current assets of discontinued operations	0	426,959
TOTAL ASSETS	6,820,217	7,194,917
LIABILITIES:
Current portion of long-term debt	24,500	24,500
Accounts payable, trade	35,815	36,884
Deferred revenue	20,923	19,026
Accrued expenses and other current liabilities	338,544	403,810
Current liabilities of discontinued operations	0	76,647
Total current liabilities	419,782	560,867
Long-term debt, net	1,395,774	1,401,324
Deferred income taxes	192,966	208,624
Other long-term liabilities	217,010	226,422
Non-current liabilities of discontinued operations	0	8,657
Redeemable noncontrolling interests	12,236	25,264
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Additional paid-in-capital	5,974,269	5,959,692
Accumulated deficit	(714,882)	(643,000)
Accumulated other comprehensive loss	(14,054)	(11,842)
Treasury stock, 15,310 shares and 12,026 shares at March 31, 2026 and December 31, 2025, respectively	(695,890)	(571,032)
Total IAC shareholders' equity	4,549,452	4,733,827
Noncontrolling interests	32,997	29,932
Total shareholders' equity	4,582,449	4,763,759	$ 4,737,438	$ 6,278,973
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	6,820,217	7,194,917
Class A common stock
SHAREHOLDERS' EQUITY:
Common stock, value	8	8
Class B common stock
SHAREHOLDERS' EQUITY:
Common stock, value	$ 1	$ 1

FINANCIAL STATEMENT DETAILS - Accumulated Depreciation and Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Depreciation, Depletion and Amortization [Abstract]
Buildings, equipment, leasehold improvements and capitalized software	$ 196,188	$ 191,044
Intangible assets	$ 648,734	$ 637,194

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenue	$ 422,893	$ 481,686
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	159,773	187,315
Selling and marketing expense	133,030	157,369
General and administrative expense	104,107	43,477
Product development expense	39,695	35,742
Depreciation	7,314	11,241
Amortization of intangibles	19,040	22,418
Total operating costs and expenses	462,959	457,562
Operating (loss) income	(40,066)	24,124
Interest expense	(25,858)	(28,314)
Unrealized gain (loss) on investment in MGM Resorts International	34,005	(324,265)
Other income, net	14,089	7,632
(Loss) earnings from continuing operations before income taxes	(17,830)	(320,823)
Income tax benefit (provision)	15,578	62,481
Net loss from continuing operations	(2,252)	(258,342)
Loss on the sale of Care.com, net of income taxes	(75,643)	0
Earnings from discontinued operations, net of income taxes	7,225	43,774
Net loss	(70,670)	(214,568)
Net earnings attributable to noncontrolling interests	(1,212)	(2,237)
Net loss attributable to IAC shareholders	$ (71,882)	$ (216,805)
Per share information from continuing operations:
Basic loss per share (USD per share)	$ (0.05)	$ (3.14)
Basic loss per share (USD per share)	(0.05)	(3.14)
Per share information attributable to IAC common stock and Class B common stock shareholders:
Basic loss per share (USD per share)	(0.94)	(2.64)
Diluted loss per share (USD per share)	$ (0.94)	$ (2.64)
Stock-based compensation expense by function:
Stock-based compensation expense	$ 16,412	$ (21,390)
Cost of revenue
Stock-based compensation expense by function:
Stock-based compensation expense	264	335
Selling and marketing expense
Stock-based compensation expense by function:
Stock-based compensation expense	939	676
General and administrative expense
Stock-based compensation expense by function:
Stock-based compensation expense	14,349	(22,906)
Product development expense
Stock-based compensation expense by function:
Stock-based compensation expense	$ 860	$ 505

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2026
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7—INCOME TAXES At the end of each interim period, the Company estimates the annual effective income tax rate and applies that rate to its ordinary year-to-date earnings or loss. The income tax provision or benefit related to significant, unusual or extraordinary items, if applicable, that will be separately reported or reported net of their related tax effects are individually computed and recognized in the interim period in which they occur. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of a beginning-of-the-year deferred income tax asset in future years or unrecognized tax benefits is recognized in the interim period in which the change occurs. The computation of the estimated annual effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (or loss) for the year, projections of the proportion of income (and/or loss) earned and taxed in foreign jurisdictions, permanent and temporary differences and the likelihood of the realization of deferred income tax assets generated in the current year. The accounting estimates used to compute the provision or benefit for income taxes may change as new events occur, more experience is acquired, additional information is obtained or the Company’s income tax environment changes. To the extent that the estimated annual effective income tax rate changes during a quarter, the effect of the change on prior quarters is included in income tax provision or benefit in the quarter in which the change occurs. For the three months ended March 31, 2026, the Company recorded an income tax benefit of $15.6 million, which represents an effective income tax rate of 87%, which was higher than the statutory rate of 21% due primarily to state taxes, including an adjustment to deferred state income taxes resulting from the sale of Care.com, and non-deductible compensation expense, partially offset by research credits. For the three months ended March 31, 2025, the Company recorded an income tax benefit of $62.5 million, which represents an effective income tax rate of 19%, which was lower than the statutory rate of 21% due primarily to non-deductible compensation expense, partially offset by research credits and non-taxable stock-based compensation expense, which was reversed due to the forfeiture of our former CEO’s restricted stock award pursuant to the Employment Transition Agreement. As a result of the Distribution, the Company has allocated to Angi a portion of the tax attributes related to the consolidated federal and state tax filings pursuant to the Internal Revenue Code and applicable state law. This allocation requires that the Company’s net deferred income tax liability be adjusted in the year of the Distribution with a corresponding adjustment to additional paid-in capital. The allocation of attributes that was recorded as of December 31, 2025 was preliminary. A subsequent adjustment is expected to be made in the fourth quarter of 2026 following the filing of income tax returns for the year ended December 31, 2025. Further amendments could be required based upon amendments to the Company’s taxable income for periods prior to the Distribution and potential tax audits in the future. The Company is routinely under audit by federal, state, local and foreign authorities in the area of income tax. These audits include questioning the timing and the amount of income and deductions and the allocation of income and deductions among various tax jurisdictions. The IRS is currently auditing the Company’s federal income tax return for the year ended December 31, 2023. Returns filed in various other jurisdictions are open to examination for tax years beginning with 2015. Income taxes payable include unrecognized tax benefits considered sufficient to pay assessments that may result from the examination of prior year tax returns. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may not accurately anticipate actual outcomes and, therefore, may require periodic adjustment. Although management currently believes changes in unrecognized tax benefits from period to period and differences between amounts paid, if any, upon resolution of issues raised in audits and amounts previously provided will not have a material impact on the liquidity, results of operations, or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. At March 31, 2026 and December 31, 2025, accruals for interest and penalties are not material. At March 31, 2026 and December 31, 2025, unrecognized tax benefits, including interest and penalties, were $12.9 million and $13.0 million, respectively. Unrecognized tax benefits, including interest and penalties, at March 31, 2026 decreased by $0.1 million due primarily to a settlement, partially offset by research credits. If unrecognized tax benefits at March 31, 2026 are subsequently recognized, $12.1 million, net of related deferred income tax assets and interest, would reduce income tax expense. The comparable amount at December 31, 2025 was also $12.1 million.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 270
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
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-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 5—SEGMENT INFORMATION

The overall concept that the Company employs in determining its operating segments is to present the financial information in a manner consistent with the chief operating decision maker’s (“CODM”) view of the businesses. The Office of the Chairman, which is comprised of certain executives and members of the board of directors, is the CODM of the Company. In determining our operating segments, we consider how the businesses are organized as to segment management and the focus of the businesses with regards to the types of services or products offered or the target market. In the case of Emerging & Other, operating segments are combined for reporting purposes because they do not meet the quantitative thresholds that require presentation as separate reportable segments.

The following table presents revenue by reportable segment:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
People Inc.(a)
Digital		$	253,223	$	234,520
Print		137,837		163,270
Intersegment eliminations(b)		(5,331)		(4,719)
Total People Inc.		385,729		393,071
Search		17,096		70,329
Emerging & Other		20,078		18,287
Intersegment eliminations		(10)		(1)
Total		$	422,893	$	481,686

_____________________

(a) Effective January 1, 2026, People Inc. changed its internal management reporting structure to better align and support its D/Cipher advertising capabilities. As a result, the digital portion of a legacy agency business that had previously been included within the People Inc. Print segment now reports to the D/Cipher management team within the People Inc. Digital segment. This change allows D/Cipher to leverage the agency business as a sales channel and to achieve operational and performance efficiencies. As a result of this change, financial information for both the People Inc. Print and Digital segments for prior periods has been recast to conform to the current period presentation.

(b) Intersegment eliminations relate to People Inc. Digital performance marketing commissions earned for the placement of magazine subscriptions.

Disaggregated Revenue

The following table presents the revenue of the Company’s segments disaggregated by type of service:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
People Inc.(a)
Digital:
Advertising revenue		$	146,424	$	144,873
Performance marketing revenue		66,115		57,266
Licensing and other revenue		40,684		32,381
Total Digital revenue		253,223		234,520
Print:
Subscription revenue		61,412		74,346
Advertising revenue		29,626		37,243
Newsstand revenue		27,929		28,095
Project and other revenue		12,930		15,397
Performance marketing revenue		5,940		8,189
Total Print revenue		137,837		163,270
Intersegment eliminations(b)		(5,331)		(4,719)
Total People Inc. revenue		$	385,729	$	393,071

Search
Advertising revenue:
Google advertising revenue		$	17,076	$	70,214
Non-Google advertising revenue		7		106
Total advertising revenue		17,083		70,320
Other revenue		13		9
Total Search revenue		$	17,096	$	70,329

Session-based revenue is related to advertisements served or performance marketing referrals initiated during a session, which is defined as a unique visit to a site that is part of the People Inc.’s network. Session-based revenue includes Advertising and Performance marketing revenue earned from People Inc.’s owned and operated or affiliated sites. Non-session-based revenue is related to revenue not dependent upon a session and primarily includes Advertising and Performance marketing revenue earned outside a session on People Inc.’s owned and operated or affiliated sites, such as D/Cipher+, native campaigns, social platforms, email and affinity marketing and all Licensing and other revenue. The following table presents Digital revenue further disaggregated by session and non-session-based revenue:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
Session-based		$	150,478	$	151,882
Non-session-based		102,745		82,638
Total Digital revenue		$	253,223	$	234,520

Segment Expenses

The following table presents the significant segment expenses regularly provided to the CODM for each of the Company’s reportable segments that are included in determining Segment Adjusted EBITDA, which is the Company’s segment reporting performance measure:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
People Inc.(a)
Digital:
Cost of revenue		$	77,349	$	76,514
Selling and marketing expense		70,651		62,378
General and administrative expense		25,682		26,372
Product development expense		29,629		27,727
Total Digital expenses		203,311		192,991
Print:
Cost of revenue		70,182		76,042
Selling and marketing expense		50,315		61,599
General and administrative expense		9,711		9,849
Product development expense		1,256		1,499
Total Print expenses		131,464		148,989
Other:
Other(c)(d)		12,782		(24,481)
Intersegment eliminations		(5,331)		(4,719)
Total People Inc. expenses		$	342,226	$	312,780

Search
Traffic acquisition costs and online marketing(e)		$	13,864	$	59,951
Other segment items(f)		11,494		7,369
Total Search expenses		$	25,358	$	67,320

_____________________

(d) The three months ended March 31, 2025 include a net gain of $36.2 million resulting from an amendment to a lease, which provided for the surrender of certain office space early and is included in “General and Administrative expenses” in the statement of operations. Prior to this amendment, the lease for this office space would have expired in 2032. The ROU asset of the amended lease had been previously impaired in prior years.

(e) Traffic acquisition costs include payments made to partners that direct traffic to our Ask Media Group websites and distribute our business-to-business customized browser-based applications and online marketing, which include fees paid to search engines and other marketing platforms.

(f) Search other segment items include compensation expense, excluding stock-based compensation, and other operating expenses.

Segment Reporting Performance Measure and Reconciliations

Adjusted EBITDA is the segment reporting performance measure used by the CODM as one of the metrics by which we evaluate the performance of our businesses and our internal budgets are based and may impact management compensation. Adjusted EBITDA is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets, if applicable, and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements, if applicable.

Approximately one-half of our consolidated annual Adjusted EBITDA is generated in the fourth quarter of each fiscal year. This is due to the concentration of spending by advertisers, which drives higher advertising revenue, and consumer spending, which drives higher performance marketing revenue, during the year-end holiday selling season at People Inc.

The following table presents a summary of Segment Adjusted EBITDA:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
People Inc.(a)
Digital		$	49,912	$	41,529
Print		6,373		14,281
Other(c)(d)		(12,782)		24,481
Total People Inc.		43,503		80,291
Search		(8,262)		3,009
Emerging & Other		4,214		(4,518)
Total Segment Adjusted EBITDA		$	39,455	$	78,782

The following table reconciles total Segment Adjusted EBITDA to loss from continuing operations before income taxes:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
Total Segment Adjusted EBITDA		$	39,455	$	78,782
Corporate Adjusted EBITDA loss		(36,755)		(42,389)
Stock-based compensation expense(g)		(16,412)		21,390
Depreciation		(7,314)		(11,241)
Amortization of intangibles		(19,040)		(22,418)


Interest expense		(25,858)		(28,314)
Unrealized gain (loss) on investment in MGM Resorts International		34,005		(324,265)
Other income, net		14,089		7,632
Loss from continuing operations before income taxes		$	(17,830)	$	(320,823)

_____________________

(g) The three months ended March 31, 2025 reflect the reversal of $49.8 million of previously recognized stock-based compensation expense related to the forfeiture of our former Chief Executive Officer’s (“CEO”) restricted stock award pursuant to an employment transition agreement (the “Employment Transition Agreement”) entered into on January 13, 2025, partially offset by $14.9 million of stock-based compensation expense related to the transfer of 5.0 million Class B shares of Angi held by the Company to our former CEO prior to the Distribution pursuant to the Employment Transition Agreement.

Segment Assets

Segment asset information is not regularly presented to the CODM.

Capital Expenditures

The following table presents capital expenditures:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
People Inc.	$	7,864	$	3,853


Corporate	97		283
Total	$	7,961	$	4,136

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

RELATED PARTY TRANSACTIONS (Details) - Expedia - plane	3 Months Ended
RELATED PARTY TRANSACTIONS (Details) - Expedia - plane	Mar. 31, 2026	Dec. 31, 2025
Related Party Transaction [Line Items]
Related party transaction, shared security cost, percentage		50.00%
Corporate Aircraft Purchase Agreement
Related Party Transaction [Line Items]
Proportion of ownership interest held each by entity and by related party in aircraft employing flight crew (as a percent)	50.00%
Number of aircraft operated	2
Proportion of ownership interest held each by entity and by related party in another entity employing flight crew (as a percent)	50.00%
Fixed cost allocation percentage	50.00%
Percentage of ownership interest in aircraft by subsidiary		100.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2026 USD ($) shares	Mar. 31, 2025 USD ($)	Apr. 03, 2026 director	Dec. 31, 2025 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment owned, cost	$ 37,232	$ 0
Unrealized gain (loss) on investment in MGM Resorts International	34,005	(324,265)
Total upward adjustments to equity securities without readily determinable fair value	31,400
Total downward adjustments to equity securities without readily determinable fair value	175,600
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of long-term debt	$ 1,340,000			$ 1,330,000
MGM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment common shares owned (in shares) \| shares	66.8
Equity method investment, number of shares purchased (in shares) \| shares	1.0
Investment owned, cost	$ 37,200
Ownership interest in equity method investment (as a percent)	26.10%
Unrealized gain (loss) on investment in MGM Resorts International	$ 34,000	$ (324,300)
Cumulative unrealized pre-tax gain	1,100,000
Unrealized gain (loss), impact in $2.00 change in share price	$ 133,600
MGM \| Subsequent Event
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Voting agreement, threshold ownership percentage			25.73%
Voting agreement termination, threshold ownership percentage			17.50%
Voting agreement, maximum number of directors \| director			2
Director replacement period			1 month

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Mar. 16, 2026	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Restructuring Cost and Reserve [Line Items]
Net proceeds from the sale of Care.com		$ 295,697	$ 0
Noncurrent deferred revenue		200		$ 100
IAC Corporate Restructuring
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		63,000
Discontinued Operations, Disposed of by Sale \| Care.com
Restructuring Cost and Reserve [Line Items]
Net proceeds from the sale of Care.com	$ 295,700
Employee Severance \| IAC Corporate Restructuring
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		14,000
Restructuring accrued		10,300
Stock-Based Compensation Expense \| IAC Corporate Restructuring
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		48,000
Other Restructuring \| Minimum \| IAC Corporate Restructuring
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		500
Other Restructuring \| Maximum \| IAC Corporate Restructuring
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		1,000
Stock-Based Compensation Expense Related to Acceleration of Employee Award Agreements \| IAC Corporate Restructuring
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		16,000
Stock-Based Compensation Expense Related to Modification of Awards \| IAC Corporate Restructuring
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		$ 32,000

CONTINGENCIES (Details) $ in Millions		6 Months Ended
CONTINGENCIES (Details) $ in Millions	Oct. 24, 2025 USD ($)	Dec. 31, 2025 USD ($)	Mar. 31, 2026 USD ($)	Aug. 29, 2025 conduct
Gain Contingencies [Line Items]
Loss contingency, prior gain disputed	$ 34.3
Proceeds held as escrow, amount		$ 38.3	$ 38.7
Loss related to the allocation of a disputed gain on a real estate transaction		19.2
Proceeds held as escrow, amount allocable to other party		$ 19.0	$ 19.2
People Inc. Ad-Tech Antitrust Litigation Against Google
Gain Contingencies [Line Items]
Number of types of anticompetitive conducts \| conduct				5

LONG-TERM DEBT

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

LONG-TERM DEBT

NOTE 3—LONG-TERM DEBT

Long-term debt consists of:


	March 31, 2026		December 31, 2025
	(In thousands)
Term Loan A-1 due May 14, 2030	$	336,875	$	341,250
Term Loan B-2 due June 16, 2032	698,250		700,000
7.625% Senior Secured Notes due June 15, 2032; interest payable each June 15 and December 15	400,000		400,000
Total long-term debt	1,435,125		1,441,250
Less: current portion of long-term debt	24,500		24,500
Less: original issue discount	3,279		3,397
Less: unamortized debt issuance costs	11,572		12,029
Total long-term debt, net	$	1,395,774	$	1,401,324

In the second quarter of 2025, People Inc. completed the refinancing and replacement of its then outstanding debt, which comprised the then existing term loans, with a combination of new term loans and senior secured notes. People Inc. also replaced its revolving credit facility.

On May 14, 2025, People Inc. entered into the Incremental Assumption Agreement and Amendment No. 2 to the Credit Agreement (“Amendment No. 2”), which provided for the (i) $350 million of the Term Loan A-1 (“Term Loan A-1”) and (ii) $150 million revolving credit facility (“Revolving Facility”) that expires on May 14, 2030. On June 16, 2025, People Inc. entered into the Credit Agreement and Second Amendment to the Security Agreement (“Amendment No. 3”), which governs the Term Loan A-1, Revolving Facility and provided for the $700 million of the Term Loan B-2 (“Term Loan B-2”). Additionally, on June 16, 2025, People Inc. issued 7.625% Senior Secured Notes (“2032 Notes”) and entered into an indenture that governs the 2032 Notes (the “Indenture”). The Term Loan A-1 and the Term Loan B-2 are collectively referred to herein as the “Term Loans.”

People Inc. has never borrowed under its revolving credit facilities. The annual commitment fee on undrawn funds is based on People Inc.’s most recently reported consolidated net leverage ratio, as defined in the governing agreements, and was 35 basis points at both March 31, 2026 and December 31, 2025. Any borrowings under the Revolving Facility would bear interest, at People Inc.’s option, at either a base rate or secured overnight financing rate (“SOFR”), plus an applicable margin, which is based on People Inc’s consolidated net leverage ratio, as defined in the governing agreements.

As of the last day of any calendar quarter, People Inc. is required to maintain certain consolidated net leverage ratios, as defined in the governing agreements. If defined consolidated net leverage ratios are exceeded or if an event of default has occurred, the governing agreements contain additional covenants that would limit People Inc.’s ability to pay dividends, incur incremental secured indebtedness or make distributions or certain investments. As a result, the Company may not be able to freely access People Inc.’s cash. People Inc.’s consolidated net leverage ratio was in compliance for the test periods ended March 31, 2026 and December 31, 2025.

The governing agreements allow the Company to contribute cash to People Inc., which the Company has done in the past and may do so in the future, to provide, among other things, additional liquidity to improve People Inc.’s consolidated net leverage ratios for any test period, which may result in improved interest rates on the Term Loan A-1 and reduced commitment fees on the Revolving Facility. The governing agreements also allow People Inc. to make distributions to the Company in amounts not to exceed these capital contributions, provided that no default has occurred and is continuing. No quarterly contributions have been made to People Inc. since the contribution that the Company made in September 2025, which People Inc. distributed back to the Company in October 2025; therefore, there were no pending contributions or distributions outstanding as of March 31, 2026 and December 31, 2025. No quarterly contributions or distributions were made in the first quarter of 2025.

The obligations under the governing agreements are substantially all of the assets of People Inc. and its subsidiaries and are guaranteed by certain People Inc. wholly-owned domestic subsidiaries.

Pursuant to the governing agreements, the borrower, Dotdash Meredith Inc. (referred to herein as People Inc.), is required to provide the administrative agent, JPMorgan Chase Bank, N.A., and lenders with certain financial information. See “Note 13—People Inc. Financial Information” for additional information.

Long-term Debt Maturities:

The Term Loan A-1 requires quarterly principal payments of $4.4 million through December 31, 2027, $8.8 million thereafter through December 31, 2028 and $13.1 million thereafter through maturity. The Term Loan B-2 requires quarterly principal payments, which commenced on March 31, 2026, of $1.8 million through maturity. Annually, the Term Loan B-2 may require additional principal payments as part of an excess cash flow sweep provision, the amount of which is determined, in part, by People Inc.’s applicable net leverage ratio and is further subject to the excess cash flow exceeding certain thresholds as defined in the governing agreements. No such payment was required on the Term Loan B-2 related to the period ended December 31, 2025.

Any time prior to June 15, 2028, People Inc. may provide notice pursuant to the Indenture to redeem all or a part of the 2032 Notes at a redemption price equal to 100% of the principal amount of the 2032 Notes to be redeemed, plus a premium defined in the Indenture and accrued and unpaid interest. Thereafter, the 2032 Notes may be redeemed at the prices set forth in the Indenture, plus accrued and unpaid interest.

Interest Rates and Interest Rate Swaps:

At March 31, 2026 and December 31, 2025, the Term Loan A-1 bore interest at SOFR plus 2.00%, or 5.67% and 5.73%, respectively. At March 31, 2026 and December 31, 2025, the Term Loan B-2 bore interest at SOFR, subject to a minimum of 0.50%, plus 3.50%, or 7.17% and 7.37%, respectively. Interest payments are due at least quarterly through the respective maturity dates of the Term Loans.

People Inc. holds interest rate swaps that synthetically convert $350 million of the Term Loan B-2 from a variable rate to a fixed rate through April 1, 2027. Should SOFR continue to equal or exceed 0.50%, then the fixed rate for the Term Loan B-2 will be approximately 7.32% ((i) the weighted average fixed interest rate of approximately 3.82% on the interest rate swaps and (ii) the base rate of 3.50%). In the event SOFR becomes less than or equal to 0.50%, then the interest rate swaps would be fixed in a range from approximately 7.32% to 7.42% as determined by the governing agreements.

People Inc. has designated the interest rate swaps as cash flow hedges and applies hedge accounting to these contracts in accordance with FASB ASC Topic 815, Derivatives and Hedging. Hedge effectiveness was assessed at the time of entering into the interest rate swaps and it was determined they are expected to be highly effective. People Inc. evaluates the hedge effectiveness of the interest rate swaps quarterly, or more frequently, if necessary, by verifying (i) that the critical terms of the interest rate swaps continue to match the critical terms of the hedged interest payments and (ii) that it is probable the counterparties will not default. If the two requirements are met, the interest rate swaps are determined to be effective and all changes in the fair value of the interest rate swaps are recorded in “Accumulated other comprehensive loss.” As cash flow hedges, the interest rate swaps are recognized at fair value on the balance sheet as either assets or liabilities, with the changes in fair value recorded in “Accumulated other comprehensive loss” in the balance sheet. Realized gains or losses are reclassified into “Interest expense” in the statement of operations. The cash flows related to interest settlements of the hedged monthly interest payments are classified as operating activities in the statement of cash flows, consistent with the interest expense on the related debt instrument. See “Note 4—Accumulated Other Comprehensive Loss” for the net unrealized gains and losses before reclassifications in “Accumulated other comprehensive loss” and realized gains and losses reclassified into “Interest expense” for the three months ended March 31, 2026 and 2025.

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	Mar. 31, 2026	Mar. 31, 2025
Common Stock
Common stock, par value (USD per share)	$ 0.0001
Class B common stock
Common stock, par value (USD per share)	0.0001
Common Stock \| Common Stock
Common stock, par value (USD per share)	0.0001	$ 0.0001
Common Stock \| Class B common stock
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	IAC	Angi Inc.	Redeemable Noncontrolling Interests	Total IAC Shareholders' Equity	Total IAC Shareholders' Equity IAC	Total IAC Shareholders' Equity Angi Inc.	Common Stock Common Stock	Common Stock Class B common stock	Additional Paid-in-Capital	Additional Paid-in-Capital Angi Inc.	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income Angi Inc.	Treasury Stock	Treasury Stock IAC	Noncontrolling Interests	Noncontrolling Interests Angi Inc.
Balance at beginning of period at Dec. 31, 2024				$ 25,415
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)				(8)
Adjustment of noncontrolling interests to redemption amount				(113)
Balance at end of period at Mar. 31, 2025				25,294
Balance at beginning of period at Dec. 31, 2024	$ 6,278,973				$ 5,577,898			$ 8	$ 1	$ 6,380,700		$ (538,974)	$ (11,396)		$ (252,441)		$ 701,075
Balance at beginning of period (in shares) at Dec. 31, 2024								84,831	5,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(214,560)				(216,805)							(216,805)					2,245
Other comprehensive (loss) income, net of income taxes	1,214				781								781				433
Stock-based compensation expense	(21,052)				(20,400)					(20,400)							(652)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (in shares)								791
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(35,859)		$ (4,572)		(35,859)		$ (8,260)			(35,859)	$ (8,264)			$ 4				$ 3,688
Forfeiture of IAC's former CEO's restricted common stock award (in shares)								(3,000)
Withholding taxes paid on IAC's transfer of Angi Inc. Class B shares to its former CEO	(9,347)				(9,347)					(9,347)
Purchase of treasury stock		$ (180,827)	$ (10,688)			$ (180,827)	$ (10,688)				$ (10,688)					$ (180,827)
Adjustment of noncontrolling interests to redemption amount	113				113					113
Adjustment to the liquidation value of Vivian Health preferred shares	0				(17)					(17)							17
Distribution of IAC's investment in Angi Inc.	(1,065,994)				(1,065,994)					(1,065,612)			(382)
Elimination of Angi Inc. noncontrolling interest	0				682,927					682,927							(682,927)
Other	37				37					37
Balance at end of period (in shares) at Mar. 31, 2025								82,622	5,789
Balance at end of period at Mar. 31, 2025	4,737,438				4,713,559			$ 8	$ 1	5,913,590		(755,779)	(10,993)		(433,268)		23,879
Balance at beginning of period at Dec. 31, 2025	25,264			25,264
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)				65
Adjustment of noncontrolling interests to redemption amount				(13,091)
Other				(2)
Balance at end of period at Mar. 31, 2026	12,236			$ 12,236
Balance at beginning of period at Dec. 31, 2025	4,763,759				4,733,827			$ 8	$ 1	5,959,692		(643,000)	(11,842)		(571,032)		29,932
Balance at beginning of period (in shares) at Dec. 31, 2025								83,581	5,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(70,735)				(71,882)							(71,882)					1,147
Other comprehensive (loss) income, net of income taxes	(2,212)				(2,212)								(2,212)
Stock-based compensation expense	17,349				16,996					16,996							353
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (in shares)								502
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(18,041)				(18,041)					(18,041)
Purchase of treasury stock	(124,858)				(124,858)										(124,858)
Payment received pursuant to the tax sharing agreement with Angi Inc.	6,542				6,542					6,542
Allocation of certain tax attributes in connection with the Angi Inc. Distribution	(1,104)				(1,104)					(1,104)
Adjustment to the Angi Inc. Distribution following the repeal of Canada's digital service tax	(1,460)				(1,460)					(1,460)
Adjustment of noncontrolling interests to redemption amount	13,091				13,091					13,091
Adjustment to the liquidation value of Vivian Health preferred shares	0				(1,565)					(1,565)							1,565
Other	118				118					118
Balance at end of period (in shares) at Mar. 31, 2026								84,083	5,789
Balance at end of period at Mar. 31, 2026	$ 4,582,449				$ 4,549,452			$ 8	$ 1	$ 5,974,269		$ (714,882)	$ (14,054)		$ (695,890)		$ 32,997

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2026	Dec. 31, 2025
Treasury stock (in shares)	15,310	12,026
Class A common stock
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	1,600,000	1,600,000
Common stock issued (in shares)	84,083	83,581
Common stock outstanding (in shares)	68,773	71,555
Class B common stock
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	400,000	400,000
Common stock issued (in shares)	5,789	5,789
Common stock outstanding (in shares)	5,789	5,789

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
People Inc.(a)
Digital		$	253,223	$	234,520
Print		137,837		163,270
Intersegment eliminations(b)		(5,331)		(4,719)
Total People Inc.		385,729		393,071
Search		17,096		70,329
Emerging & Other		20,078		18,287
Intersegment eliminations		(10)		(1)
Total		$	422,893	$	481,686

_____________________

(b) Intersegment eliminations relate to People Inc. Digital performance marketing commissions earned for the placement of magazine subscriptions.

The following table presents the revenue of the Company’s segments disaggregated by type of service:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
People Inc.(a)
Digital:
Advertising revenue		$	146,424	$	144,873
Performance marketing revenue		66,115		57,266
Licensing and other revenue		40,684		32,381
Total Digital revenue		253,223		234,520
Print:
Subscription revenue		61,412		74,346
Advertising revenue		29,626		37,243
Newsstand revenue		27,929		28,095
Project and other revenue		12,930		15,397
Performance marketing revenue		5,940		8,189
Total Print revenue		137,837		163,270
Intersegment eliminations(b)		(5,331)		(4,719)
Total People Inc. revenue		$	385,729	$	393,071

Search
Advertising revenue:
Google advertising revenue		$	17,076	$	70,214
Non-Google advertising revenue		7		106
Total advertising revenue		17,083		70,320
Other revenue		13		9
Total Search revenue		$	17,096	$	70,329

The following table presents Digital revenue further disaggregated by session and non-session-based revenue:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
Session-based		$	150,478	$	151,882
Non-session-based		102,745		82,638
Total Digital revenue		$	253,223	$	234,520


	Three Months Ended March 31,
		2026		2025
		(In thousands)
People Inc.(a)
Digital:
Cost of revenue		$	77,349	$	76,514
Selling and marketing expense		70,651		62,378
General and administrative expense		25,682		26,372
Product development expense		29,629		27,727
Total Digital expenses		203,311		192,991
Print:
Cost of revenue		70,182		76,042
Selling and marketing expense		50,315		61,599
General and administrative expense		9,711		9,849
Product development expense		1,256		1,499
Total Print expenses		131,464		148,989
Other:
Other(c)(d)		12,782		(24,481)
Intersegment eliminations		(5,331)		(4,719)
Total People Inc. expenses		$	342,226	$	312,780

Search
Traffic acquisition costs and online marketing(e)		$	13,864	$	59,951
Other segment items(f)		11,494		7,369
Total Search expenses		$	25,358	$	67,320

_____________________

(f) Search other segment items include compensation expense, excluding stock-based compensation, and other operating expenses.

Schedule of Adjusted EBITDA

The following table presents a summary of Segment Adjusted EBITDA:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
People Inc.(a)
Digital		$	49,912	$	41,529
Print		6,373		14,281
Other(c)(d)		(12,782)		24,481
Total People Inc.		43,503		80,291
Search		(8,262)		3,009
Emerging & Other		4,214		(4,518)
Total Segment Adjusted EBITDA		$	39,455	$	78,782

Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss)

The following table reconciles total Segment Adjusted EBITDA to loss from continuing operations before income taxes:


	Three Months Ended March 31,
		2026		2025
		(In thousands)
Total Segment Adjusted EBITDA		$	39,455	$	78,782
Corporate Adjusted EBITDA loss		(36,755)		(42,389)
Stock-based compensation expense(g)		(16,412)		21,390
Depreciation		(7,314)		(11,241)
Amortization of intangibles		(19,040)		(22,418)


Interest expense		(25,858)		(28,314)
Unrealized gain (loss) on investment in MGM Resorts International		34,005		(324,265)
Other income, net		14,089		7,632
Loss from continuing operations before income taxes		$	(17,830)	$	(320,823)

_____________________

Schedule of Capital Expenditures by Segment

The following table presents capital expenditures:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
People Inc.	$	7,864	$	3,853


Corporate	97		283
Total	$	7,961	$	4,136

LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of:


	March 31, 2026		December 31, 2025
	(In thousands)
Term Loan A-1 due May 14, 2030	$	336,875	$	341,250
Term Loan B-2 due June 16, 2032	698,250		700,000
7.625% Senior Secured Notes due June 15, 2032; interest payable each June 15 and December 15	400,000		400,000
Total long-term debt	1,435,125		1,441,250
Less: current portion of long-term debt	24,500		24,500
Less: original issue discount	3,279		3,397
Less: unamortized debt issuance costs	11,572		12,029
Total long-term debt, net	$	1,395,774	$	1,401,324

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

CONTINGENCIES	3 Months Ended
CONTINGENCIES	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 10—CONTINGENCIES In the ordinary course of business, the Company is subject to various lawsuits and other contingent matters. The Company establishes accruals for specific legal and other matters when it determines that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. Management has also identified certain legal and other matters where it believes an unfavorable outcome is not probable and, therefore, no accrual is established. Although management currently believes that resolving claims against the Company, including claims where an unfavorable outcome is reasonably possible, and for which the Company cannot estimate a loss or range of loss, will not have a material impact on the liquidity, results of operations or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The Company also evaluates other contingent matters, including unrecognized tax benefits and non-income tax contingencies, to assess the likelihood of an unfavorable outcome and estimated extent of potential loss. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on the liquidity, results of operations and/or financial condition of the Company. See “Note 7—Income Taxes” for information related to unrecognized tax benefits. People Inc. Ad-Tech Antitrust Litigation against Google On August 29, 2025, the Company’s People Inc. subsidiary filed an action against Google LLC and Alphabet Inc. (collectively, “Google”), alleging violations of federal antitrust and state law arising out of anticompetitive practices by Google in the ad-tech industry in connection with the sale of ad inventory for display on People Inc.’s online properties. The lawsuit follows on the Government’s antitrust enforcement action against Google, in which a federal district judge has ruled that Google acquired, maintained, and misused monopoly power in the publisher ad-server and ad-exchange markets, and tied use of its publisher ad-server to use of its ad exchange, in violation of the Sherman Act. People Inc.’s complaint asserts federal antitrust claims for monopolization and attempted monopolization of the publisher ad-server and ad-exchange markets and for unlawful tying in violation of the Sherman Act, as well as various state-law claims, and seeks among other things injunctive relief and damages, including treble damages, in an amount to be determined at trial. People Inc.’s lawsuit is part of a consolidated multidistrict litigation comprised of similar lawsuits filed by other online publishers, all pending before the same judge in the Southern District of New York. On October 27, 2025, in a ruling in one of the earlier-filed publisher lawsuits, the presiding judge held that Google is precluded from relitigating certain issues decided against it in the Government’s case, including that Google engaged in five separate types of anticompetitive conduct in willfully acquiring and maintaining monopoly power in the publisher ad-server and ad-exchange markets and that Google unlawfully tied its publisher ad server to its ad exchange in violation of the Sherman Act. People Inc.’s case is currently in discovery. People Inc. intends to vigorously pursue its claims in this action, but there is no guarantee that its efforts will be successful. Disputed Gain on Real Estate Transaction On October 24, 2025, the Company received an adverse jury verdict in a lawsuit related to the allocation of a gain recorded in 2015 related to a real estate transaction. The original gain was $34.3 million and was initially recorded as a non-operating gain in “Other income, net” in the year ended December 31, 2015. The proceeds have been and continue to be held in escrow since the transaction occurred in 2015. The total amount held in escrow at March 31, 2026 and December 31, 2025 was $38.7 million and $38.3 million, respectively. The Company recorded a net non-operating loss of $19.2 million in “Other income, net” in the statement of operations in the latter half of 2025 following this verdict and the subsequent court ruling that plaintiffs were not entitled to statutory prejudgment interest. The amounts held in escrow, net of the portion allocable to the plaintiffs, at March 31, 2026 and December 31, 2025 of $19.2 million and $19.0 million, respectively, are included in “Other current assets” in the balance sheet. The Company’s motion before the trial court to set aside the jury’s verdict remains pending.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

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+ Details

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following tables present the components of accumulated other comprehensive loss, net of income taxes.


	Three Months Ended March 31, 2026
	Foreign Currency Translation Adjustment		Unrealized (Losses) Gains On Interest Rate Swaps		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(10,308)	$	(1,534)	$	(11,842)
Other comprehensive (loss) income before reclassifications	(817)		1,028		211
Amounts reclassified to earnings	(2,541)		118		(2,423)
Net current period other comprehensive (loss) income	(3,358)		1,146		(2,212)
Balance at March 31	$	(13,666)	$	(388)	$	(14,054)


	Three Months Ended March 31, 2025
		Foreign Currency Translation Adjustment		Unrealized Gains (Losses) On Interest Rate Swaps		Accumulated Other Comprehensive (Loss) Income
		(In thousands)
Balance at January 1		$	(12,703)	$	1,307	$	(11,396)
Other comprehensive income (loss) before reclassifications		2,581		(1,355)		1,226
Amounts reclassified to earnings		—		(445)		(445)
Net current period other comprehensive income (loss)		2,581		(1,800)		781
Accumulated other comprehensive loss allocated to noncontrolling interests during the period		4		—		4
Distribution of Angi		(382)		—		(382)
Balance at March 31		$	(10,500)	$	(493)	$	(10,993)

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net (loss) earnings	$ (70,670)	$ (214,568)
Other comprehensive (loss) income, net of income taxes
Change in foreign currency translation adjustment	(3,358)	3,014
Change in net unrealized gains (losses) on interest rate swaps	1,146	(1,800)
Total other comprehensive (loss) income, net of income taxes	(2,212)	1,214
Comprehensive loss, net of income taxes	(72,882)	(213,354)
Components of comprehensive income attributable to noncontrolling interests:
Net earnings attributable to noncontrolling interests	(1,212)	(2,237)
Change in foreign currency translation adjustment attributable to noncontrolling interests	0	(433)
Comprehensive income attributable to noncontrolling interests	(1,212)	(2,670)
Comprehensive (loss) income attributable to shareholders	$ (74,094)	$ (216,024)

PEOPLE INC. FINANCIAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidated Balance Sheet

CONSOLIDATED BALANCE SHEET AT MARCH 31, 2026 AND DECEMBER 31, 2025 (Unaudited)


	March 31, 2026								December 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
ASSETS
Cash and cash equivalents	$	1,112,445	$	(796,656)	$	—	$	315,789	$	941,311	$	(656,993)	$	—	$	284,318

Accounts receivable, net	328,772		(14,442)		—		314,330		416,617		(15,722)		—		400,895
Other current assets	109,404		(51,115)		—		58,289		102,188		(48,008)		—		54,180
Current assets of discontinued operations	—		—		—		—		84,633		(84,633)		—		—
Total current assets	1,550,621		(862,213)		—		688,408		1,544,749		(805,356)		—		739,393

Buildings, land, equipment, leasehold improvements and capitalized software, net	285,630		(178,033)		—		107,597		284,394		(179,882)		—		104,512
Goodwill	1,507,911		(2,534)		—		1,505,377		1,508,030		(2,533)		—		1,505,497
Intangible assets, net of accumulated amortization	375,341		—		—		375,341		394,381		—		—		394,381
Investment in MGM Resorts International	2,473,095		(2,473,095)		—		—		2,401,858		(2,401,858)		—		—
Long-term investments	404,628		(404,628)		—		—		409,240		(409,240)		—		—
Other non-current assets	222,991		(35,110)		55,754		243,635		225,306		(70,384)		97,336		252,258
IAC Inc. investment in People Inc.	—		(1,646,956)		1,646,956		—		—		(1,655,926)		1,655,926		—
Non-current assets of discontinued operations	—		—		—		—		426,959		(426,959)		—		—
TOTAL ASSETS	$	6,820,217	$	(5,602,569)	$	1,702,710	$	2,920,358	$	7,194,917	$	(5,952,138)	$	1,753,262	$	2,996,041

LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
Current portion of long-term debt	$	24,500	$	—	$	—	$	24,500	$	24,500	$	—	$	—	$	24,500
Accounts payable, trade	35,815		(5,321)		—		30,494		36,884		(8,658)		—		28,226
Deferred revenue	20,923		(3,006)		—		17,917		19,026		(1,964)		—		17,062


	March 31, 2026								December 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Accrued expenses and other current liabilities	338,544		(62,831)		23,671		299,384		403,810		(66,299)		5,778		343,289
Current liabilities of discontinued operations	—		—		—		—		76,647		(76,647)		—		—
Total current liabilities	419,782		(71,158)		23,671		372,295		560,867		(153,568)		5,778		413,077

Long-term debt, net	1,395,774		—		—		1,395,774		1,401,324		—		—		1,401,324
Deferred income taxes	192,966		(248,720)		55,754		—		208,624		(305,960)		97,336		—
Other long-term liabilities	217,010		(12,176)		—		204,834		226,422		(13,157)		—		213,265
Non-current liabilities of discontinued operations	—		—		—		—		8,657		(8,657)		—		—
Intercompany due from People Inc. to IAC Inc.	—		26,028		(26,028)		—		—		8,135		(8,135)		—

Redeemable noncontrolling interests	12,236		(12,236)		—		—		25,264		(25,264)		—		—

Commitments and contingencies

SHAREHOLDERS' EQUITY:
Common stock	8		(8)		3		3		8		(8)		3		3
Class B common stock	1		(1)		—		—		1		(1)		—		—

Additional paid-in-capital	5,974,269		(5,974,269)		1,561,633		1,561,633		5,959,692		(5,959,692)		1,570,603		1,570,603
Accumulated deficit	(714,882)		27,077		87,677		(600,128)		(643,000)		(32,465)		87,677		(587,788)
Accumulated other comprehensive loss	(14,054)		1		—		(14,053)		(11,842)		(2,601)		—		(14,443)
Treasury stock	(695,890)		695,890		—		—		(571,032)		571,032		—		—
Total shareholders' equity	4,549,452		(5,251,310)		1,649,313		947,455		4,733,827		(5,423,735)		1,658,283		968,375
Noncontrolling interests	32,997		(32,997)		—		—		29,932		(29,932)		—		—
Total shareholders' equity	4,582,449		(5,284,307)		1,649,313		947,455		4,763,759		(5,453,667)		1,658,283		968,375
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	6,820,217	$	(5,602,569)	$	1,702,710	$	2,920,358	$	7,194,917	$	(5,952,138)	$	1,753,262	$	2,996,041

Consolidated Statement of Operations and Comprehensive Income (Loss)

CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
Revenue	$	422,893	$	(37,174)	$	10	$	385,729	$	481,686	$	(88,616)	$	1	$	393,071
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	159,773		(12,015)		37		147,795		187,315		(34,437)		13		152,891
Selling and marketing expense	133,030		(16,862)		—		116,168		157,369		(37,549)		—		119,820
General and administrative expense	104,107		(48,662)		(27)		55,418		43,477		(27,510)		(12)		15,955
Product development expense	39,695		(8,160)		—		31,535		35,742		(6,135)		—		29,607
Depreciation	7,314		(1,946)		—		5,368		11,241		(2,068)		—		9,173
Amortization of intangibles	19,040		—		—		19,040		22,418		—		—		22,418

Total operating costs and expenses	462,959		(87,645)		10		375,324		457,562		(107,699)		1		349,864
Operating (loss) income	(40,066)		50,471		—		10,405		24,124		19,083		—		43,207
Interest expense	(25,858)		—		—		(25,858)		(28,314)		—		—		(28,314)
Unrealized gain (loss) on investment in MGM Resorts International	34,005		(34,005)		—		—		(324,265)		324,265		—		—
Other income, net	14,089		(10,975)		—		3,114		7,632		(4,624)		—		3,008
(Loss) earnings from continuing operations before income taxes	(17,830)		5,491		—		(12,339)		(320,823)		338,724		—		17,901
Income tax benefit (provision)	15,578		(15,579)		—		(1)		62,481		(71,140)		—		(8,659)
Net loss from continuing operations	(2,252)		(10,088)		—		(12,340)		(258,342)		267,584		—		9,242
Loss on the sale of Care.com, net of income taxes	(75,643)		75,643		—		—		—		—		—		—
Earnings from discontinued operations, net of income taxes	7,225		(7,225)		—		—		43,774		(43,774)		—		—
Net (loss) earnings	(70,670)		58,330		—		(12,340)		(214,568)		223,810		—		9,242
Net earnings attributable to noncontrolling interests	(1,212)		1,212		—		—		(2,237)		2,237		—		—
Net (loss) earnings attributable to shareholders	(71,882)		59,542		—		(12,340)		(216,805)		226,047		—		9,242
Other comprehensive (loss) income(a)	(2,212)		2,602		—		390		781		(2,656)		—		(1,875)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Comprehensive (loss) income attributable to shareholders	$	(74,094)	$	62,144	$	—	$	(11,950)	$	(216,024)	$	223,391	$	—	$	7,367

Stock-based compensation expense by function:
Cost of revenue	$	264	$	—	$	—	$	264	$	335	$	—	$	—	$	335
Selling and marketing expense	939		(406)		—		533		676		(114)		—		562
General and administrative expense	14,349		(7,106)		—		7,243		(22,906)		27,121		—		4,215
Product development expense	860		(210)		—		650		505		(124)		—		381
Total stock-based compensation expense	$	16,412	$	(7,722)	$	—	$	8,690	$	(21,390)	$	26,883	$	—	$	5,493

_____________________

Consolidated Cash Flow Statement

CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
Cash flows from operating activities attributable to continuing operations:
Net (loss) earnings	$	(70,670)	$	58,330	$	—	$	(12,340)	$	(214,568)	$	223,810	$	—	$	9,242
Less: Loss on the sale of Care.com, net of income taxes	(75,643)		75,643		—		—		—		—		—		—
Less: Earnings from discontinued operations, net of income taxes	7,225		(7,225)		—		—		43,774		(43,774)		—		—
Net loss attributable to continuing operations	(2,252)		(10,088)		—		(12,340)		(258,342)		267,584		—		9,242
Adjustments to reconcile net loss attributable to continuing operations to net cash provided by (used in) operating activities attributable to continuing operations:
Amortization of intangibles	19,040		—		—		19,040		22,418		—		—		22,418
Stock-based compensation expense	16,412		(7,722)		—		8,690		(21,390)		26,883		—		5,493


	Three Months Ended March 31, 2026				Three Months Ended March 31, 2025
	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.
Non-cash lease expense (including right-of-use asset impairments)	7,543	(190)	—	7,353	8,724	(346)	—	8,378
Depreciation	7,314	(1,946)	—	5,368	11,241	(2,068)	—	9,173


Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses	4,574	(4,574)	—	—	7,538	(7,538)	—	—
Unrealized (gain) loss on investment in MGM Resorts International	(34,005)	34,005	—	—	324,265	(324,265)	—	—
Deferred income taxes	(15,121)	14,727	—	(394)	(63,833)	71,190	—	7,357
Gain on sale of an unutilized domain name	(7,500)	7,500	—	—	—	—	—	—
Net gains on amendments and early terminations of lease agreements	—	—	—	—	(36,038)	—	—	(36,038)
Other adjustments, net	2,828	(209)	—	2,619	1,348	(26)	—	1,322
Changes in assets and liabilities, net of effects of dispositions:
Accounts receivable	86,268	(1,020)	—	85,248	76,641	(259)	—	76,382
Other assets	(940)	(4,102)	—	(5,042)	(32,650)	27,159	—	(5,491)
Operating lease liabilities	(14,545)	572	—	(13,973)	(33,950)	359	—	(33,591)
Accounts payable and other liabilities	(61,564)	8,002	10,810	(42,752)	(35,588)	(22,773)	8,624	(49,737)
Income taxes payable and receivable	(635)	861	—	226	1,611	(214)	—	1,397
Deferred revenue	2,547	(936)	—	1,611	694	(372)	—	322
Net cash provided by (used in) operating activities attributable to continuing operations	9,964	34,880	10,810	55,654	(27,311)	35,314	8,624	16,627
Cash flows from investing activities attributable to continuing operations:

Capital expenditures	(7,961)	97	—	(7,864)	(4,136)	283	—	(3,853)



Net proceeds from the sale of Care.com	295,697	(295,697)	—	—	—	—	—	—


	Three Months Ended March 31, 2026				Three Months Ended March 31, 2025
	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.
Purchase of MGM Resorts International common shares	(37,232)	37,232	—	—	—	—	—	—
Allocation of Angi Inc.'s cash in the Distribution	—	—	—	—	(386,563)	386,563	—	—
Proceeds from the sale of an unutilized domain name	7,500	(7,500)	—	—	—	—	—	—
Net proceeds from the sales of investments and businesses	38	(38)	—	—	10,096	(10,096)	—	—


Proceeds from the sale of a portion of the retirement investment fund	—	—	—	—	5,248	—	—	5,248


Other, net	2,602	(1,212)	—	1,390	134	(132)	—	2
Net cash provided by (used in) investing activities attributable to continuing operations	260,644	(267,118)	—	(6,474)	(375,221)	376,618	—	1,397
Cash flows from financing activities attributable to continuing operations:
Principal payments on the Term Loans	(6,125)	—	—	(6,125)	(8,750)	—	—	(8,750)




Withholding taxes paid on behalf of employees on net settled stock-based awards	(17,999)	9,058	—	(8,941)	(45,183)	34,754	—	(10,429)
Purchases of treasury stock	(123,574)	123,574	—	—	(179,394)	179,394	—	—

Reimbursement to IAC for shares issued to settle People Inc. SARs	—	—	(1,815)	(1,815)	—	—	(6,118)	(6,118)
Distribution from Angi Inc. pursuant to the tax sharing agreement	6,542	(6,542)	—	—	—	—	—	—
Intercompany between People Inc. and IAC Inc.	—	8,995	(8,995)	—	—	2,506	(2,506)	—
Other, net	4	2	—	6	(655)	655	—	—
Net cash used in financing activities attributable to continuing operations	(141,152)	135,087	(10,810)	(16,875)	(233,982)	217,309	(8,624)	(25,297)
Total cash provided by (used in) continuing operations	129,456	(97,151)	—	32,305	(636,514)	629,241	—	(7,273)
Net cash provided by operating activities attributable to discontinued operations	5,424	(5,424)	—	—	24,617	(24,617)	—	—


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Net cash used in investing activities attributable to discontinued operations	(60)		60		—		—		(13,019)		13,019		—		—
Net cash used in financing activities attributable to discontinued operations	—		—		—		—		(14,362)		14,362		—		—
Total cash provided by (used in) discontinued operations	5,364		(5,364)		—		—		(2,764)		2,764		—		—
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1,411)		511		—		(900)		362		(164)		—		198
Net increase (decrease) in cash and cash equivalents and restricted cash	133,409		(102,004)		—		31,405		(638,916)		631,841		—		(7,075)
Cash and cash equivalents and restricted cash at beginning of period	986,831		(694,652)		—		292,179		1,807,255		(1,550,133)		—		257,122
Cash and cash equivalents and restricted cash at end of period	$	1,120,240	$	(796,656)	$	—	$	323,584	$	1,168,339	$	(918,292)	$	—	$	250,047

Schedule of Consolidated Stockholders Equity

PEOPLE INC. CONSOLIDATED STATEMENTS OF SHAREHOLDER’S EQUITY FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Common Stock (500,000 shares authorized)			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive (Loss) Income		Total Shareholder's Equity
	$0.01 par value
	$		Shares
	(In thousands, except share count)
Balance at December 31, 2025	$	3	317,570	$	1,570,603	$	(587,788)	$	(14,443)	$	968,375
Net loss	—		—	—		(12,340)		—		(12,340)
Other comprehensive income	—		—	—		—		390		390
Stock-based compensation expense	—		—	8,690		—		—		8,690


Withholding taxes paid on behalf of employees on net settled stock-based awards	—		—	(8,941)		—		—		(8,941)
Reimbursement to IAC for settlement of equity awards held by employees	—		—	(8,719)		—		—		(8,719)
Balance at March 31, 2026	$	3	317,570	$	1,561,633	$	(600,128)	$	(14,053)	$	947,455


	Common Stock (500,000 shares authorized)			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total Shareholder's Equity
	$0.01 par value
	$		Shares
	(In thousands, except share count)
Balance at December 31, 2024	$	3	317,570	$	1,556,899	$	(650,336)	$	(10,688)	$	895,878
Net earnings	—		—	—		9,242		—		9,242
Other comprehensive loss	—		—	—		—		(1,875)		(1,875)
Stock-based compensation expense	—		—	5,493		—		—		5,493


Withholding taxes paid on behalf of employees on net settled stock-based awards	—		—	(10,429)		—		—		(10,429)
Reimbursement to IAC for settlement of equity awards held by employees	—		—	(10,152)		—		—		(10,152)
Balance at March 31, 2025	$	3	317,570	$	1,541,811	$	(641,094)	$	(12,563)	$	888,157

FINANCIAL STATEMENT DETAILS - Cash and Cash Equivalents by Geographic Location (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 1,112,445	$ 941,311	$ 1,143,084	$ 1,363,547
Reportable Legal Entities \| Less: IAC Inc. entities excluding People Inc.
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	796,656	656,993	900,481	1,113,620
Reportable Legal Entities \| People Inc.
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	315,789	284,318	242,603	249,927
Reportable Legal Entities \| U.S. \| Less: IAC Inc. entities excluding People Inc.
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	794,149	653,480	884,524	1,086,888
Reportable Legal Entities \| U.S. \| People Inc.
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	295,270	261,904	222,525	230,436
Reportable Legal Entities \| All other countries \| Less: IAC Inc. entities excluding People Inc.
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	2,507	3,513	15,957	26,732
Reportable Legal Entities \| All other countries \| People Inc.
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 20,519	$ 22,414	$ 20,078	$ 19,491

PEOPLE INC. FINANCIAL INFORMATION

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

PEOPLE INC. FINANCIAL INFORMATION

NOTE 9—FINANCIAL STATEMENT DETAILS

Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the balance sheet to the total amounts shown in the statement of cash flows:


	March 31, 2026		December 31, 2025		March 31, 2025		December 31, 2024
	(In thousands)
Cash and cash equivalents	$	1,112,445	$	941,311	$	1,143,084	$	1,363,547
Restricted cash included in other current assets	—		—		—		7,195
Restricted cash included in other non-current assets	7,795		7,861		7,444		—
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		37,659		17,811		436,402
Restricted cash included in other non-current assets of discontinued operations	—		—		—		111
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	1,120,240	$	986,831	$	1,168,339	$	1,807,255

Restricted cash in all periods presented principally consists of cash held in escrow related to the funded pension plan in the United Kingdom at People Inc.

The following table presents the cash and cash equivalents by geographic location:


	March 31, 2026		December 31, 2025		March 31, 2025		December 31, 2024
	(In thousands)
People Inc. cash and cash equivalents:
United States	$	295,270	$	261,904	$	222,525	$	230,436
All other countries	20,519		22,414		20,078		19,491
Total People Inc. cash and cash equivalents	315,789		284,318		242,603		249,927

IAC (excluding People Inc.) cash and cash equivalents
United States	794,149		653,480		884,524		1,086,888
All other countries	2,507		3,513		15,957		26,732
Total IAC (excluding People Inc.) cash and cash equivalents	796,656		656,993		900,481		1,113,620

Total cash and cash equivalents	$	1,112,445	$	941,311	$	1,143,084	$	1,363,547

Credit Losses

The following table presents the changes in the allowance for credit losses:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Balance at January 1	$	8,715	$	6,686
Current period provision for credit losses	1,531		1,123
Write-offs charged against the allowance	(3,931)		(1,315)
Recoveries collected	11		27

Balance at March 31	$	6,326	$	6,521

Accumulated Depreciation and Amortization

The following table provides the accumulated depreciation and amortization within the balance sheet:


Asset Category	March 31, 2026		December 31, 2025
	(In thousands)
Buildings, equipment, leasehold improvements and capitalized software	$	196,188	$	191,044
Intangible assets	$	648,734	$	637,194

Other income, net


	Three Months Ended March 31,
		2026		2025
		(In thousands)

Interest income		$	9,529	$	14,357
Gain on sale of an unutilized domain name		7,500		—
Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses		(4,574)		(7,626)

Other		1,634		901
Other income, net		$	14,089	$	7,632

NOTE 13—PEOPLE INC. FINANCIAL INFORMATION

CONSOLIDATED BALANCE SHEET AT MARCH 31, 2026 AND DECEMBER 31, 2025 (Unaudited)


	March 31, 2026								December 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
ASSETS
Cash and cash equivalents	$	1,112,445	$	(796,656)	$	—	$	315,789	$	941,311	$	(656,993)	$	—	$	284,318

Accounts receivable, net	328,772		(14,442)		—		314,330		416,617		(15,722)		—		400,895
Other current assets	109,404		(51,115)		—		58,289		102,188		(48,008)		—		54,180
Current assets of discontinued operations	—		—		—		—		84,633		(84,633)		—		—
Total current assets	1,550,621		(862,213)		—		688,408		1,544,749		(805,356)		—		739,393

Buildings, land, equipment, leasehold improvements and capitalized software, net	285,630		(178,033)		—		107,597		284,394		(179,882)		—		104,512
Goodwill	1,507,911		(2,534)		—		1,505,377		1,508,030		(2,533)		—		1,505,497
Intangible assets, net of accumulated amortization	375,341		—		—		375,341		394,381		—		—		394,381
Investment in MGM Resorts International	2,473,095		(2,473,095)		—		—		2,401,858		(2,401,858)		—		—
Long-term investments	404,628		(404,628)		—		—		409,240		(409,240)		—		—
Other non-current assets	222,991		(35,110)		55,754		243,635		225,306		(70,384)		97,336		252,258
IAC Inc. investment in People Inc.	—		(1,646,956)		1,646,956		—		—		(1,655,926)		1,655,926		—
Non-current assets of discontinued operations	—		—		—		—		426,959		(426,959)		—		—
TOTAL ASSETS	$	6,820,217	$	(5,602,569)	$	1,702,710	$	2,920,358	$	7,194,917	$	(5,952,138)	$	1,753,262	$	2,996,041

LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
Current portion of long-term debt	$	24,500	$	—	$	—	$	24,500	$	24,500	$	—	$	—	$	24,500
Accounts payable, trade	35,815		(5,321)		—		30,494		36,884		(8,658)		—		28,226
Deferred revenue	20,923		(3,006)		—		17,917		19,026		(1,964)		—		17,062


	March 31, 2026								December 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Accrued expenses and other current liabilities	338,544		(62,831)		23,671		299,384		403,810		(66,299)		5,778		343,289
Current liabilities of discontinued operations	—		—		—		—		76,647		(76,647)		—		—
Total current liabilities	419,782		(71,158)		23,671		372,295		560,867		(153,568)		5,778		413,077

Long-term debt, net	1,395,774		—		—		1,395,774		1,401,324		—		—		1,401,324
Deferred income taxes	192,966		(248,720)		55,754		—		208,624		(305,960)		97,336		—
Other long-term liabilities	217,010		(12,176)		—		204,834		226,422		(13,157)		—		213,265
Non-current liabilities of discontinued operations	—		—		—		—		8,657		(8,657)		—		—
Intercompany due from People Inc. to IAC Inc.	—		26,028		(26,028)		—		—		8,135		(8,135)		—

Redeemable noncontrolling interests	12,236		(12,236)		—		—		25,264		(25,264)		—		—

Commitments and contingencies

SHAREHOLDERS' EQUITY:
Common stock	8		(8)		3		3		8		(8)		3		3
Class B common stock	1		(1)		—		—		1		(1)		—		—

Additional paid-in-capital	5,974,269		(5,974,269)		1,561,633		1,561,633		5,959,692		(5,959,692)		1,570,603		1,570,603
Accumulated deficit	(714,882)		27,077		87,677		(600,128)		(643,000)		(32,465)		87,677		(587,788)
Accumulated other comprehensive loss	(14,054)		1		—		(14,053)		(11,842)		(2,601)		—		(14,443)
Treasury stock	(695,890)		695,890		—		—		(571,032)		571,032		—		—
Total shareholders' equity	4,549,452		(5,251,310)		1,649,313		947,455		4,733,827		(5,423,735)		1,658,283		968,375
Noncontrolling interests	32,997		(32,997)		—		—		29,932		(29,932)		—		—
Total shareholders' equity	4,582,449		(5,284,307)		1,649,313		947,455		4,763,759		(5,453,667)		1,658,283		968,375
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	6,820,217	$	(5,602,569)	$	1,702,710	$	2,920,358	$	7,194,917	$	(5,952,138)	$	1,753,262	$	2,996,041

CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
Revenue	$	422,893	$	(37,174)	$	10	$	385,729	$	481,686	$	(88,616)	$	1	$	393,071
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	159,773		(12,015)		37		147,795		187,315		(34,437)		13		152,891
Selling and marketing expense	133,030		(16,862)		—		116,168		157,369		(37,549)		—		119,820
General and administrative expense	104,107		(48,662)		(27)		55,418		43,477		(27,510)		(12)		15,955
Product development expense	39,695		(8,160)		—		31,535		35,742		(6,135)		—		29,607
Depreciation	7,314		(1,946)		—		5,368		11,241		(2,068)		—		9,173
Amortization of intangibles	19,040		—		—		19,040		22,418		—		—		22,418

Total operating costs and expenses	462,959		(87,645)		10		375,324		457,562		(107,699)		1		349,864
Operating (loss) income	(40,066)		50,471		—		10,405		24,124		19,083		—		43,207
Interest expense	(25,858)		—		—		(25,858)		(28,314)		—		—		(28,314)
Unrealized gain (loss) on investment in MGM Resorts International	34,005		(34,005)		—		—		(324,265)		324,265		—		—
Other income, net	14,089		(10,975)		—		3,114		7,632		(4,624)		—		3,008
(Loss) earnings from continuing operations before income taxes	(17,830)		5,491		—		(12,339)		(320,823)		338,724		—		17,901
Income tax benefit (provision)	15,578		(15,579)		—		(1)		62,481		(71,140)		—		(8,659)
Net loss from continuing operations	(2,252)		(10,088)		—		(12,340)		(258,342)		267,584		—		9,242
Loss on the sale of Care.com, net of income taxes	(75,643)		75,643		—		—		—		—		—		—
Earnings from discontinued operations, net of income taxes	7,225		(7,225)		—		—		43,774		(43,774)		—		—
Net (loss) earnings	(70,670)		58,330		—		(12,340)		(214,568)		223,810		—		9,242
Net earnings attributable to noncontrolling interests	(1,212)		1,212		—		—		(2,237)		2,237		—		—
Net (loss) earnings attributable to shareholders	(71,882)		59,542		—		(12,340)		(216,805)		226,047		—		9,242
Other comprehensive (loss) income(a)	(2,212)		2,602		—		390		781		(2,656)		—		(1,875)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Comprehensive (loss) income attributable to shareholders	$	(74,094)	$	62,144	$	—	$	(11,950)	$	(216,024)	$	223,391	$	—	$	7,367

Stock-based compensation expense by function:
Cost of revenue	$	264	$	—	$	—	$	264	$	335	$	—	$	—	$	335
Selling and marketing expense	939		(406)		—		533		676		(114)		—		562
General and administrative expense	14,349		(7,106)		—		7,243		(22,906)		27,121		—		4,215
Product development expense	860		(210)		—		650		505		(124)		—		381
Total stock-based compensation expense	$	16,412	$	(7,722)	$	—	$	8,690	$	(21,390)	$	26,883	$	—	$	5,493

_____________________

CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
	(In thousands)
Cash flows from operating activities attributable to continuing operations:
Net (loss) earnings	$	(70,670)	$	58,330	$	—	$	(12,340)	$	(214,568)	$	223,810	$	—	$	9,242
Less: Loss on the sale of Care.com, net of income taxes	(75,643)		75,643		—		—		—		—		—		—
Less: Earnings from discontinued operations, net of income taxes	7,225		(7,225)		—		—		43,774		(43,774)		—		—
Net loss attributable to continuing operations	(2,252)		(10,088)		—		(12,340)		(258,342)		267,584		—		9,242
Adjustments to reconcile net loss attributable to continuing operations to net cash provided by (used in) operating activities attributable to continuing operations:
Amortization of intangibles	19,040		—		—		19,040		22,418		—		—		22,418
Stock-based compensation expense	16,412		(7,722)		—		8,690		(21,390)		26,883		—		5,493


	Three Months Ended March 31, 2026				Three Months Ended March 31, 2025
	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.
Non-cash lease expense (including right-of-use asset impairments)	7,543	(190)	—	7,353	8,724	(346)	—	8,378
Depreciation	7,314	(1,946)	—	5,368	11,241	(2,068)	—	9,173


Net downward adjustments to the carrying value of equity securities without readily determinable fair values and net gains on sales of investments and businesses	4,574	(4,574)	—	—	7,538	(7,538)	—	—
Unrealized (gain) loss on investment in MGM Resorts International	(34,005)	34,005	—	—	324,265	(324,265)	—	—
Deferred income taxes	(15,121)	14,727	—	(394)	(63,833)	71,190	—	7,357
Gain on sale of an unutilized domain name	(7,500)	7,500	—	—	—	—	—	—
Net gains on amendments and early terminations of lease agreements	—	—	—	—	(36,038)	—	—	(36,038)
Other adjustments, net	2,828	(209)	—	2,619	1,348	(26)	—	1,322
Changes in assets and liabilities, net of effects of dispositions:
Accounts receivable	86,268	(1,020)	—	85,248	76,641	(259)	—	76,382
Other assets	(940)	(4,102)	—	(5,042)	(32,650)	27,159	—	(5,491)
Operating lease liabilities	(14,545)	572	—	(13,973)	(33,950)	359	—	(33,591)
Accounts payable and other liabilities	(61,564)	8,002	10,810	(42,752)	(35,588)	(22,773)	8,624	(49,737)
Income taxes payable and receivable	(635)	861	—	226	1,611	(214)	—	1,397
Deferred revenue	2,547	(936)	—	1,611	694	(372)	—	322
Net cash provided by (used in) operating activities attributable to continuing operations	9,964	34,880	10,810	55,654	(27,311)	35,314	8,624	16,627
Cash flows from investing activities attributable to continuing operations:

Capital expenditures	(7,961)	97	—	(7,864)	(4,136)	283	—	(3,853)



Net proceeds from the sale of Care.com	295,697	(295,697)	—	—	—	—	—	—


	Three Months Ended March 31, 2026				Three Months Ended March 31, 2025
	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.	IAC Inc. Consolidated	Less: IAC Inc. entities excluding People Inc.	Eliminations and Reclassifications	People Inc.
Purchase of MGM Resorts International common shares	(37,232)	37,232	—	—	—	—	—	—
Allocation of Angi Inc.'s cash in the Distribution	—	—	—	—	(386,563)	386,563	—	—
Proceeds from the sale of an unutilized domain name	7,500	(7,500)	—	—	—	—	—	—
Net proceeds from the sales of investments and businesses	38	(38)	—	—	10,096	(10,096)	—	—


Proceeds from the sale of a portion of the retirement investment fund	—	—	—	—	5,248	—	—	5,248


Other, net	2,602	(1,212)	—	1,390	134	(132)	—	2
Net cash provided by (used in) investing activities attributable to continuing operations	260,644	(267,118)	—	(6,474)	(375,221)	376,618	—	1,397
Cash flows from financing activities attributable to continuing operations:
Principal payments on the Term Loans	(6,125)	—	—	(6,125)	(8,750)	—	—	(8,750)




Withholding taxes paid on behalf of employees on net settled stock-based awards	(17,999)	9,058	—	(8,941)	(45,183)	34,754	—	(10,429)
Purchases of treasury stock	(123,574)	123,574	—	—	(179,394)	179,394	—	—

Reimbursement to IAC for shares issued to settle People Inc. SARs	—	—	(1,815)	(1,815)	—	—	(6,118)	(6,118)
Distribution from Angi Inc. pursuant to the tax sharing agreement	6,542	(6,542)	—	—	—	—	—	—
Intercompany between People Inc. and IAC Inc.	—	8,995	(8,995)	—	—	2,506	(2,506)	—
Other, net	4	2	—	6	(655)	655	—	—
Net cash used in financing activities attributable to continuing operations	(141,152)	135,087	(10,810)	(16,875)	(233,982)	217,309	(8,624)	(25,297)
Total cash provided by (used in) continuing operations	129,456	(97,151)	—	32,305	(636,514)	629,241	—	(7,273)
Net cash provided by operating activities attributable to discontinued operations	5,424	(5,424)	—	—	24,617	(24,617)	—	—


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.		IAC Inc. Consolidated		Less: IAC Inc. entities excluding People Inc.		Eliminations and Reclassifications		People Inc.
Net cash used in investing activities attributable to discontinued operations	(60)		60		—		—		(13,019)		13,019		—		—
Net cash used in financing activities attributable to discontinued operations	—		—		—		—		(14,362)		14,362		—		—
Total cash provided by (used in) discontinued operations	5,364		(5,364)		—		—		(2,764)		2,764		—		—
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1,411)		511		—		(900)		362		(164)		—		198
Net increase (decrease) in cash and cash equivalents and restricted cash	133,409		(102,004)		—		31,405		(638,916)		631,841		—		(7,075)
Cash and cash equivalents and restricted cash at beginning of period	986,831		(694,652)		—		292,179		1,807,255		(1,550,133)		—		257,122
Cash and cash equivalents and restricted cash at end of period	$	1,120,240	$	(796,656)	$	—	$	323,584	$	1,168,339	$	(918,292)	$	—	$	250,047

PEOPLE INC. CONSOLIDATED STATEMENTS OF SHAREHOLDER’S EQUITY FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited)


	Common Stock (500,000 shares authorized)			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive (Loss) Income		Total Shareholder's Equity
	$0.01 par value
	$		Shares
	(In thousands, except share count)
Balance at December 31, 2025	$	3	317,570	$	1,570,603	$	(587,788)	$	(14,443)	$	968,375
Net loss	—		—	—		(12,340)		—		(12,340)
Other comprehensive income	—		—	—		—		390		390
Stock-based compensation expense	—		—	8,690		—		—		8,690


Withholding taxes paid on behalf of employees on net settled stock-based awards	—		—	(8,941)		—		—		(8,941)
Reimbursement to IAC for settlement of equity awards held by employees	—		—	(8,719)		—		—		(8,719)
Balance at March 31, 2026	$	3	317,570	$	1,561,633	$	(600,128)	$	(14,053)	$	947,455


	Common Stock (500,000 shares authorized)			Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total Shareholder's Equity
	$0.01 par value
	$		Shares
	(In thousands, except share count)
Balance at December 31, 2024	$	3	317,570	$	1,556,899	$	(650,336)	$	(10,688)	$	895,878
Net earnings	—		—	—		9,242		—		9,242
Other comprehensive loss	—		—	—		—		(1,875)		(1,875)
Stock-based compensation expense	—		—	5,493		—		—		5,493


Withholding taxes paid on behalf of employees on net settled stock-based awards	—		—	(10,429)		—		—		(10,429)
Reimbursement to IAC for settlement of equity awards held by employees	—		—	(10,152)		—		—		(10,152)
Balance at March 31, 2025	$	3	317,570	$	1,541,811	$	(641,094)	$	(12,563)	$	888,157