Form 8-K

8-K — IAC Inc.

Accession: 0001628280-26-039787

Filed: 2026-06-02

Period: 2026-06-02

CIK: 0001800227

SIC: 7370 (SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.)

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — iaci-20260602.htm (Primary)

EX-99.1 (ex-991xsupplementalfinanci.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: iaci-20260602.htm · Sequence: 1

iaci-20260602

0001800227FALSE00018002272026-06-022026-06-02

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 2, 2026

IAC Inc.

(Exact name of registrant as specified in charter)

Delaware 001-39356 84-3727412

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

555 West 18th Street, New York, NY 10011

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (212) 314-7300

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of exchange on which registered

Common Stock, par value $0.0001 IAC The Nasdaq Stock Market LLC

(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

On December 10, 2025, IAC Inc. (“IAC” or the “Company”), which is in the process of being renamed “People Incorporated,” received a notice of non-renewal (the “Notice”) from Google of the services agreement, dated October 26, 2015 and 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. In connection with the expiration of the Services Agreement, the Company ceased operations of its Search segment.

On June 2, 2026, the Company posted supplemental financial information to reflect the Search segment as discontinued operations for all periods prior to the expiration of the Services Agreement on April 30, 2026 in accordance with ASC 205, “Presentation of Financial Statements,” within IAC’s consolidated financial statements on its website (http://ir.iac.com/quarterly-results).

Other than the changes described above, there are no other changes to the Company's reportable segments reflected in the supplemental financial information, a copy of which is furnished herewith as Exhibit 99.1.

The information contained in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

Exhibits.

Exhibit

Number Description

99.1

Supplemental financial information

104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

IAC Inc.

By: /s/ KENDALL HANDLER

Name: Kendall Handler

Title: Executive Vice President, Chief Legal Officer & Secretary

Date: June 2, 2026

EX-99.1

Filename: ex-991xsupplementalfinanci.htm · Sequence: 2

Document

Exhibit 99.1

The tables below reflect IAC on a continuing operations basis, updated to reflect the Search segment as discontinued operations for periods prior to operations ceasing in connection with the expiration of the Google Services Agreement on April 30, 2026 as described in Item 7.01 of this Form 8-K. The information presented below should be read in conjunction with IAC Inc.'s historical consolidated financial statements and notes thereto found on the U.S. Securities and Exchange Commission's website at http://www.sec.gov.

2024 2025 2026

FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1

(Unaudited; in thousands)

Revenue

People Inc.

Digital $ 1,086,367 $ 234,520 $ 273,999 $ 283,167 $ 370,200 $ 1,161,886 $ 253,223

Print 711,636 163,270 158,263 152,594 148,178 622,305 137,837

Intersegment eliminations (20,774) (4,719) (4,892) (5,934) (6,573) (22,118) (5,331)

Total People Inc. 1,777,229 393,071 427,370 429,827 511,805 1,762,073 385,729

Emerging & Other 89,028 18,287 15,877 17,288 19,551 71,003 20,078

Intersegment eliminations (1,218) (1) — — (1) (2) (10)

Total revenue $ 1,865,039 $ 411,357 $ 443,247 $ 447,115 $ 531,355 $ 1,833,074 $ 405,797

Operating income (loss)

People Inc.

Digital(a)

$ 154,367 $ 17,876 $ 38,371 $ 38,434 $ 113,305 $ 207,986 $ 27,827

Print(b)

17,059 8,744 10,905 1,016 6,769 27,434 1,744

Other(c)(d)

(64,552) 16,587 (14,497) (10,917) (14,034) (22,861) (19,166)

Total People Inc. 106,874 43,207 34,779 28,533 106,040 212,559 10,405

Emerging & Other(e)

(37,695) (4,886) (9,221) (20,797) 2,552 (32,352) 2,871

Corporate(f)

(144,284) (17,218) (33,050) (34,981) (31,066) (116,315) (45,092)

Total operating (loss) income $ (75,105) $ 21,103 $ (7,492) $ (27,245) $ 77,526 $ 63,892 $ (31,816)

Stock-based compensation expense

People Inc.

Digital $ (10,097) $ (1,855) $ (3,034) $ (3,211) $ (3,464) $ (11,564) $ (2,922)

Print (2,045) (450) (442) (451) (430) (1,773) (238)

Other(c)

(13,683) (3,188) (3,727) (4,060) (4,102) (15,077) (5,530)

Total People Inc. (25,825) (5,493) (7,203) (7,722) (7,996) (28,414) (8,690)

Emerging & Other (1,626) (345) (2,874) (743) (602) (4,564) (1,335)

Corporate (45,708) 27,228 (8,233) (7,412) (6,509) 5,074 (6,387)

Total stock-based compensation expense $ (73,159) $ 21,390 $ (18,310) $ (15,877) $ (15,107) $ (27,904) $ (16,412)

2024 2025 2026

FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1

(Unaudited; in thousands)

Depreciation

People Inc.

Digital $ (15,943) $ (3,074) $ (3,167) $ (4,428) $ (3,933) $ (14,602) $ (3,587)

Print (7,258) (1,393) (1,403) (1,237) (1,104) (5,137) (927)

Other(c)

(3,103) (4,706) (651) (525) (1,274) (7,156) (854)

Total People Inc. (26,304) (9,173) (5,221) (6,190) (6,311) (26,895) (5,368)

Emerging & Other (65) (23) (9) (8) (9) (49) (8)

Corporate (8,408) (2,045) (2,038) (2,037) (1,935) (8,055) (1,938)

Total depreciation $ (34,777) $ (11,241) $ (7,268) $ (8,235) $ (8,255) $ (34,999) $ (7,314)

Amortization of intangibles

People Inc.

Digital $ (116,542) $ (18,724) $ (18,723) $ (18,826) $ (18,235) $ (74,508) $ (15,576)

Print (19,875) (3,694) (3,695) (3,695) (3,617) (14,701) (3,464)

Other(c)

— — — — — — —

Total People Inc. (136,417) (22,418) (22,418) (22,521) (21,852) (89,209) (19,040)

Emerging & Other (9) — — — — — —

Corporate — — — — — — —

Total amortization of intangibles $ (136,426) $ (22,418) $ (22,418) $ (22,521) $ (21,852) $ (89,209) $ (19,040)

Adjusted EBITDA(g)

People Inc.

Digital(a)

$ 296,949 $ 41,529 $ 63,295 $ 64,899 $ 138,937 $ 308,660 $ 49,912

Print(b)

46,237 14,281 16,445 6,399 11,920 49,045 6,373

Other(c)(d)

(47,766) 24,481 (10,119) (6,332) (8,658) (628) (12,782)

Total People Inc. 295,420 80,291 69,621 64,966 142,199 357,077 43,503

Emerging & Other(e)

(35,995) (4,518) (6,338) (20,046) 3,163 (27,739) 4,214

Corporate(f)

(90,168) (42,401) (22,779) (25,532) (22,622) (113,334) (36,767)

Total Adjusted EBITDA $ 169,257 $ 33,372 $ 40,504 $ 19,388 $ 122,740 $ 216,004 $ 10,950

The following table reconciles net (loss) earnings attributable to IAC shareholders to operating (loss) income to Adjusted EBITDA:

2024 2025 2026

FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1

(Unaudited; in thousands)

Net (loss) earnings attributable to IAC shareholders $ (539,897) $ (216,805) $ 211,452 $ (21,879) $ (76,794) $ (104,026) $ (71,882)

Add back:

Net earnings (loss) attributable to noncontrolling interest 6,567 2,237 (819) 142 996 2,556 1,212

(Earnings) loss from discontinued operations, net of income taxes(h)(i)(j)

(78,504) (34,509) (19,419) (31,007) 237,502 152,567 (4,455)

Loss on sale of Care.com, net of income taxes — — — — — — 75,643

Income tax (benefit) provision (149,941) (74,767) 74,360 (3,108) 31,594 28,079 (10,109)

Other (income) expense, net (98,227) (7,632) (2,796) 18,447 (24,155) (16,136) (14,078)

Unrealized loss (gain) on investment in MGM Resorts International 649,178 324,265 (307,437) (17,476) (118,527) (119,175) (34,005)

Interest expense 135,719 28,314 37,167 27,636 26,910 120,027 25,858

Operating (loss) income (75,105) 21,103 (7,492) (27,245) 77,526 63,892 (31,816)

Add back:

Stock-based compensation expense 73,159 (21,390) 18,310 15,877 15,107 27,904 16,412

Depreciation 34,777 11,241 7,268 8,235 8,255 34,999 7,314

Amortization of intangibles 136,426 22,418 22,418 22,521 21,852 89,209 19,040

Adjusted EBITDA $ 169,257 $ 33,372 $ 40,504 $ 19,388 $ 122,740 $ 216,004 $ 10,950

(a)The third quarter of 2025 operating income of $38.4 million and Adjusted EBITDA of $64.9 million at People Inc. Digital include $8.3 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.

(b)The third quarter of 2025 operating income of $1.0 million and Adjusted EBITDA of $6.4 million at People Inc. Print include $5.8 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.

(c)Other comprises unallocated corporate costs.

(d)The first quarter of 2025 operating income of $16.6 million and Adjusted EBITDA of $24.5 million at People Inc. Other include a net gain of $36.2 million related to certain unoccupied office space. The third quarter of 2025 operating loss of $10.9 million and Adjusted EBITDA loss of $6.3 million at People Inc. Other include a net gain of $5.2 million related to an amendment of a lease, which provided for the surrender of certain office space early, partially offset by $1.0 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.

(e)The third quarter of 2025 operating loss of $20.8 million and Adjusted EBITDA loss of $20.0 million at Emerging & Other include $21.4 million of legal fees and settlement expenses for litigation that concluded in the third quarter of 2025 related to a legacy business.

(f)The first quarter of 2026 operating loss of $45.1 million and Adjusted EBITDA loss of $36.8 million at Corporate include $10.3 million of severance-related costs driven by a reduction in workforce as IAC Corporate consolidates its corporate functions with those of People Inc.

(g)Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) 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. We believe this measure is useful for investors and analysts as this measure allows a more meaningful comparison between our performance and that of our competitors. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.

(h)On March 31, 2025, IAC completed the spin-off of Angi, including Roofing, 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. As a result of the Distribution, IAC no longer owns any shares of Angi's capital stock and Angi became an independent public company. The operations of Angi are presented as discontinued operations within IAC's consolidated financial statements for all periods prior to March 31, 2025.

(i)On March 16, 2026, IAC completed the sale of Care.com. As a result of the sale, the operations of Care.com are presented as discontinued operations within IAC’s consolidated financial statements for all periods presented above.

(j)The operations of the Search segment are presented as discontinued operations within IAC’s consolidated financial statements for all periods prior to operations ceasing in connection with the expiration of the Google Services Agreement on April 30, 2026.

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