Filing Flows › Ziff Davis (ZD) › Q4 2025
Ziff Davis (ZD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Ziff Davis (ZD) reported revenue of $407M for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and +12% from the quarter before. Operating margin was 21.2%, net earnings $370K (0.1% of revenue).
Ziff Davis, Q4 2025: revenue $407M (-2% year over year), operating margin 21.2%, net earnings $370K, operating cash flow $191M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $407M | +12% | -1% |
| Operating profit | $86.0M | +203% | +10% |
| Net earnings | $370K | — | -99% |
| Operating cash flow | $191M | +38% | +21% |
| Free cash flow | $158M | — | — |
What changed
Revenue was $406.7M in Q4 2025, down 1% year over year and up 12% from the previous quarter.
Operating profit was $86.0M, a 21.2% margin (up 2.1 points year over year). Total costs fell 4% while revenue fell 1%. Net earnings were $370K, down 99% year over year. The tax line was a benefit of $204K on pre-tax earnings of $166K.
Operating cash flow was $191.1M (up 21% year over year), 51644% of net earnings. Non-cash charges added back $57.9M of depreciation and amortization and $11.3M of share-based compensation. Working capital and other items added $121.5M. After purchases of property and equipment ($33.3M), free cash flow as the company reports it was $157.8M.
Questions
What was Ziff Davis' revenue in the fourth quarter 2025?
Ziff Davis (ZD) reported revenue of $407M for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and +12% from the quarter before.
Was Ziff Davis profitable in the fourth quarter 2025?
Operating profit was $86.0M (21.2% of revenue) and net earnings $370K.
Source: Ziff Davis 10-K on SEC EDGAR.