BuzzFeed, Inc. Reports Q2 2026 Financial Results
NEW YORK--( BUSINESS WIRE)--BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) today announced its financial results for the quarter ended June 30, 2026.
“BuzzFeed, Tasty, and HuffPost are strong, recognizable brands that have loyal users, but we made it clear on our last earnings call that these businesses were carrying an unsustainable cost structure, and a restructure was immediately needed,” said Byron Allen, BuzzFeed Chairman and CEO. “As such, we recently took steps to significantly reduce costs to better align our cost base with the underlying business, giving us the foundation to grow. I’m also excited to share that BuzzFeed has entered into a sales representation agreement with Allen Media Group (“AMG”), engaging AMG’s sales organization to expand monetization of BuzzFeed’s advertising inventory and give brands and agencies another point of entry to build campaigns spanning premium television, streaming, local broadcast, and digital-first media. I’m energized by what we’re building at BuzzFeed, and by the path we’re now on towards sustainable profitability, positive cash flow, and disciplined investment in our highest-growth priorities.”
“The changes we’ve made create the opportunity to build BuzzFeed differently,” said Jonah Peretti, President of BuzzFeed AI. “We’re shifting from a traditional publishing model to a true platform – one where our community, creators, and partners actively fuel our content ecosystem. That means a more flexible operating model in editorial, and new AI-supported tools in tech that keep human creativity at the core. This operational discipline gives us runway to innovate, transform, and build our next chapter.”
Second Quarter 2026 Financial Results and Operational Highlights
BuzzFeed delivered Q2 2026 revenues of $36.3 million, declining 21.8% compared to the second quarter of 2025
Net loss was $11.8 million, compared to a net loss of $10.6 million in Q2 2025.
Adjusted EBITDA 1 was negative $1.7 million for Q2 2026, compared to positive $2.0 million in Q2 2025.
In Q2 2026, audience Time Spent 2 with our content totaled 62.3 million hours, reflecting an approximately 10.8% decline compared to Q2 2025.
Business and Content Highlights
First Half 2026 Results
Full Year 2026 Financial Outlook
Given the transformation underway, we are focused on full-year operational targets rather than quarterly guidance. As the restructuring and platform transition progresses, we expect to provide investors with a more complete financial outlook.
Quarterly Conference Call
BuzzFeed’s management team will hold a conference call to discuss our second quarter 2026 results today, August 4, at 5 PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News and Events, and parties interested in participating must register in advance at the same location. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. While it is not required, it is recommended you join 5 minutes prior to the event start time. A replay of the call will be made available at the same URL.
We have used, and intend to continue to use, the Investor Relations section of our website at investors.buzzfeed.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.
Definitions
BuzzFeed reports revenues across three primary business lines: Advertising, Content, and Commerce and other. The definition of “Time Spent” is also set forth below.
About BuzzFeed, Inc.
BuzzFeed, Inc. is home to the best of the Internet. Across pop culture, entertainment, shopping, food, and news, our brands drive conversation and inspire what audiences watch, read, and buy now — and into the future. Born on the Internet in 2006, BuzzFeed is committed to making it better: providing trusted, quality, brand-safe news and entertainment to hundreds of millions of people; making content on the Internet more inclusive, empathetic, and creative; and inspiring our audience to live better lives.
Non-GAAP Financial Measures
Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures and represent key metrics used by management and our board of directors to measure the operational strength and performance of our business, to establish budgets, and to develop operational goals for managing our business. We define Adjusted EBITDA as net loss, excluding the impact of net income (loss) attributable to noncontrolling interests, income tax provision, interest expense, net, other (income) expense, net, depreciation and amortization, stock-based compensation, change in fair value of warrant liabilities, restructuring costs, amortization of capitalized interest for content, loss on early termination of lease, and other non-cash and non-recurring items that management believes are not indicative of ongoing operations. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenue for the same period.
We believe Adjusted EBITDA and Adjusted EBITDA margin are relevant and useful information for investors because they allow investors to view performance in a manner similar to the method used by our management. There are limitations to the use of Adjusted EBITDA and Adjusted EBITDA margin, and our Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similarly titled measures of other companies. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes.
Adjusted EBITDA and Adjusted EBITDA margin should not be considered a substitute for measures prepared in accordance with GAAP. Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data.
Forward-Looking Statements
Certain statements in this press release may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Our forward-looking statements include, but are not limited to, statements regarding our management team’s expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “affect,” “anticipate,” “believe,” “can,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: (1) macroeconomic factors including: adverse economic conditions in the United States and globally, including the potential onset of recession; actual or potential government shutdowns or failure to raise the U.S. federal debt ceiling; current global supply chain disruptions; the ongoing conflicts in the Middle East and between Russia and Ukraine and any related sanctions and geopolitical tensions, and further escalation of trade tensions between the U.S. and its trading partners; tariffs; the inflationary environment; and the competitive labor market; (2) developments relating to our competitors and the digital media industry, including overall demand of advertising in the markets in which we operate; (3) demand for our products and services or changes in traffic or engagement with our brands and content; (4) changes in the business and competitive environment in which we and our current and prospective partners and advertisers operate; (5) our future capital requirements, including, but not limited to, our ability to obtain additional capital in the future, any restrictions imposed by, or commitments under, agreements governing any future indebtedness, and any restrictions on our ability to access our cash and cash equivalents; (6) developments in the law and government regulation, including, but not limited to, revised foreign content and ownership regulations, and the outcomes of legal proceedings, regulatory disputes, or governmental investigations to which we are subject; (7) the benefits of our restructuring; (8) our success divesting of companies, assets, or brands we sell, or in integrating and supporting the companies we acquire; (9) our success in launching new products or platforms, including any new social media platform; (10) technological developments including artificial intelligence; (11) our success in retaining or recruiting, or changes required in, officers, other key employees or directors; (12) use of content creators and on-camera talent and relationships with third parties managing certain of our branded operations outside of the United States; (13) the security of our information technology systems or data; (14) disruption in our service, or by our failure to timely and effectively scale and adapt our existing technology and infrastructure; (15) our ability to maintain the listing of our Class A common stock and warrants on The Nasdaq Stock Market LLC; (16) risks related to the Company’s liquidity and cash flow, including the ability of the Company to comply with debt service requirements and covenants contained in its credit facility; (17) risks related to the Stock Purchase Agreement and Director Appointment Agreement entered into by the Company with Allen Family Digital, LLC, including potentially adverse impacts on our business, results of operations, and stock price; and (18) those factors described under the sections entitled “Risk Factors” in the Company’s annual and quarterly filings with the Securities and Exchange Commission.
Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. There may be additional risks that we consider immaterial or which are unknown. It is not possible to predict or identify all such risks. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
1 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” above for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP financial results. Certain figures throughout this document may not foot due to rounding.
2 Refer to the definition of “Time Spent” above.
3 Competitive set includes People.com brand, Condé Nast Digital Group, Vox Media Group, Vogue.com, and Bustle.com.
BUZZFEED, INC.
Financial Highlights
(Unaudited, dollars in thousands)
2026
2025
2026
2025
$
17,299
$
22,589
(23
)%
$
34,445
$
43,976
(22
)%
10,003
10,699
(7
)%
17,483
15,123
16
%
8,986
13,106
(31
)%
15,932
23,316
(32
)%
$
36,288
$
46,394
(22
)%
$
67,860
$
82,415
(18
)%
$
(10,312
)
$
(3,466
)
NM
$
(23,788
)
$
(17,208
)
(38
)%
$
(11,810
)
$
(10,627
)
(11
)%
$
(26,956
)
$
(23,088
)
(17
)%
$
(1,727
)
$
1,984
NM
$
(9,546
)
$
(3,910
)
NM
$
16,299
$
8,465
525
15,750
29,439
45,496
16,710
16,411
62,973
86,122
2,934
4,504
13,775
23,002
25,000
24,245
9,552
10,167
13,105
13,105
18,683
19,397
2,999
3,524
2,046
4,073
$
151,067
$
188,139
$
16,797
$
19,548
12,538
12,411
8,833
7,405
8,044
8,305
4,747
12,706
8,230
30,524
3,203
4,319
62,392
95,218
10,752
14,725
26,298
27,861
253
250
99,695
138,054
8
3
—
1
861,574
735,992
(706,517
)
(679,588
)
(3,887
)
(3,715
)
—
(3,332
)
(100,479
)
—
50,699
49,361
673
724
51,372
50,085
$
151,067
$
188,139
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
$
36,288
$
46,394
$
67,860
$
82,415
22,786
27,987
45,150
51,479
2,751
4,242
6,219
8,500
13,758
10,684
26,942
25,046
2,624
2,823
4,958
5,889
4,681
4,124
8,379
8,709
46,600
49,860
91,648
99,623
(10,312
)
(3,466
)
(23,788
)
(17,208
)
196
(5,080
)
(151
)
(3,782
)
(1,395
)
(1,496
)
(2,932
)
(2,667
)
(95
)
(252
)
7
982
(11,606
)
(10,294
)
(26,864
)
(22,675
)
204
333
92
413
(11,810
)
(10,627
)
(26,956
)
(23,088
)
38
193
(27
)
403
$
(11,848
)
$
(10,820
)
$
(26,929
)
$
(23,491
)
$
(11,848
)
$
(10,820
)
$
(26,929
)
$
(23,491
)
$
(0.22
)
$
(0.28
)
$
(0.58
)
$
(0.61
)
55,089
38,080
46,404
38,380
2026
2025
$
(26,956
)
$
(23,088
)
8,379
8,709
(53
)
(780
)
3,102
2,703
(7
)
(982
)
544
6,643
29
120
(477
)
(152
)
1,259
—
7,275
9,637
16,463
13,787
(3,746
)
(3,990
)
691
—
(2,409
)
(5,384
)
(239
)
45
(1,096
)
(5,215
)
(9,486
)
(12,078
)
1,427
1,270
(5,300
)
(8,755
)
(313
)
(834
)
(6,890
)
(6,349
)
—
(233
)
75
300
(7,128
)
(7,116
)
—
39,175
621
2,402
—
1,200
19,400
—
6,072
—
—
16
—
(30,000
)
—
(2,089
)
(20,000
)
—
(959
)
(687
)
(378
)
—
—
(3,332
)
(136
)
(125
)
(69
)
(115
)
4,551
6,445
(39
)
484
(7,916
)
(8,942
)
27,739
38,648
$
19,823
$
29,706
2026
2025
2026
2025
$
(11,810
)
$
(10,627
)
$
(26,956
)
$
(23,088
)
204
333
92
413
1,395
1,496
2,932
2,667
(196
)
5,080
151
3,782
4,681
4,124
8,379
8,709
1,550
1,326
3,102
2,703
95
252
(7
)
(982
)
—
—
329
1,886
501
—
579
—
1,853
—
1,853
—
$
(1,727
)
$
1,984
$
(9,546
)
$
(3,910
)
(4.8
)%
4.3
%
(14.1
)%
(4.7
)%
(32.5
)%
(22.9
)%
(39.7
)%
(28.0
)%
(1)
(2)
(3)
(4)