A Business at a Glance
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For convenience, the terms “BuzzFeed,” the “Company,” “we,” “us,” or “our” used in this Annual Report on Form 10-K refer to BuzzFeed, Inc. and one or more of our consolidated subsidiaries, unless the context otherwise requires. On December 3, 2021, we consummated a business combination (the “Business Combination”) with 890 5th Avenue Partners, Inc. (“890”), certain wholly-owned subsidiaries of 890, and BuzzFeed, Inc., a Delaware corporation (“Legacy BuzzFeed”). In connection with the Business Combination, we acquired 100% of the membership interests of CM Partners, LLC. CM Partners, LLC, together with Complex Media, Inc., is referred to herein as “Complex Networks.” Following the closing of the Business Combination, 890 was renamed “BuzzFeed, Inc.” Our Company — Overview BuzzFeed is a premier digital media company. Across entertainment, news, food, pop culture, and commerce, our brands drive conversation and inspire what audiences watch, read, and buy now — and into the future.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 163M | 190M | 230M | 343M | 398M | 321M |
| Net Income | 105K | -10M | -89M | -201M | - | 10M |
| EPS | $-0.02 | $-0.26 | $-2.30 | $-5.51 | $-0.12 | $0.00 |
| Free Cash Flow | -13M | -21M | -7.1M | -13M | -4.2M | 23M |
| ROIC | -6.6% | -9.6% | -62.1% | -58.5% | - | 4.0% |
| Gross Margin | - | 44.7% | 43.7% | 43.3% | 47.8% | 56.3% |
| Debt/Equity | 0.66 | 0.24 | 1.46 | 0.80 | 0.38 | -0.06 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -25M | -24M | -45M | -128M | -25M | 12M |
| Operating Margin | -15.5% | -12.4% | -19.5% | -37.5% | -6.3% | 3.8% |
| ROE | 0.1% | -9.5% | -81.4% | -105.1% | - | - |
| Shares Outstanding | 36M | 39M | 39M | 36M | 35M | 85M |
| Metric | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 321M | 398M | 343M | 230M | 190M | 163M |
| Gross Margin | 56.3% | 47.8% | 43.3% | 43.7% | 44.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 12M | -25M | -128M | -45M | -24M | -25M |
| Op. Margin | 3.8% | -6.3% | -37.5% | -19.5% | -12.4% | -15.5% |
| Net Income | 10M | N/A | -201M | -89M | -10M | 105K |
| Net Margin | 3.2% | N/A | -58.7% | -38.4% | -5.3% | 0.1% |
| Non-Recurring | 0 | 0 | 66M | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | 4.0% | N/A | -58.5% | -62.1% | -9.6% | -6.6% |
| ROE | N/A | N/A | -105.1% | -81.4% | -9.5% | 0.1% |
| ROA | 3.7% | N/A | -37.9% | -21.5% | -3.2% | 0.0% |
| Cash Flow | ||||||
| Op. Cash Flow | 28M | 797K | -7.9M | -6.1M | -21M | -12M |
| Free Cash Flow | 23M | -4.2M | -13M | -7.1M | -21M | -13M |
| Owner Earnings | 8.9M | -46M | -51M | -32M | -45M | -36M |
| CapEx | 4.7M | 5.0M | 5.4M | 964K | 691K | 1.9M |
| Maint. CapEx | 17M | 23M | 24M | 20M | 19M | 19M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 17M | 23M | 24M | 20M | 19M | 19M |
| CapEx/OCF | N/A | 625.2% | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.2M | 24M | 19M | 5.3M | 5.5M | 5.5M |
| Debt Repayment | 0 | 0 | 0 | 0 | 500K | 500K |
| Balance Sheet | ||||||
| Net Debt | -70M | 62M | 96M | 123M | -13M | 16M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 34M |
| Long-Term Debt | 20M | 142M | 152M | 34M | 0 | N/A |
| Debt/Equity | -0.06 | 0.38 | 0.80 | 1.46 | 0.24 | 0.66 |
| Interest Coverage | 11.1 | N/A | -8.2 | -6.9 | -3.5 | -3.5 |
| Equity | -314M | 371M | 191M | 109M | 105M | 76M |
| Total Assets | 279M | 637M | 530M | 411M | 221M | 211M |
| Total Liabilities | 97M | 262M | 335M | 300M | 114M | 135M |
| Intangibles | 2.7M | 331M | 89M | 56M | 55M | 55M |
| Retained Earnings | -347M | -322M | -523M | -612M | -622M | -622M |
| Working Capital | 151M | 158M | 76M | -95M | 4.0M | 4.0M |
| Current Assets | 209M | 252M | 199M | 133M | 101M | 101M |
| Current Liabilities | 57M | 94M | 123M | 228M | 97M | 97M |
| Per Share Data | ||||||
| EPS | 0.00 | -0.12 | -5.51 | -2.30 | -0.26 | -0.02 |
| Owner EPS | 0.10 | -1.30 | -1.41 | -0.82 | -1.18 | -1.01 |
| Book Value | -3.67 | 10.59 | 5.25 | 2.82 | 2.72 | 2.12 |
| Cash Flow/Share | 0.32 | 0.02 | -0.22 | -0.16 | -0.54 | 0.54 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 85.5M | 35.0M | 36.4M | 38.5M | 38.5M | 35.9M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -38.9 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 2.1 | 0.5 | 0.4 | 1.0 | 0.3 |
| Price/Sales | N/A | 3.4 | 1.2 | 0.5 | 0.5 | 0.1 |
| FCF Yield | N/A | -0.5% | -13.8% | -18.5% | -19.5% | -57.9% |
| Market Cap | N/A | 775M | 96M | 38M | 109M | 23M |
| Avg. Price | N/A | 38.35 | 11.60 | 2.89 | 2.27 | 0.65 |
| Year-End Price | N/A | 22.16 | 2.64 | 0.99 | 2.84 | 0.65 |
BuzzFeed, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 47.2%.
BuzzFeed, Inc. (BZFD) has a 5-year average return on invested capital (ROIC) of -31.6%. This is below average and may indicate limited pricing power.
BuzzFeed, Inc. (BZFD) has a market capitalization of $23M. It is classified as a small-cap stock.
BuzzFeed, Inc. (BZFD) does not currently pay a regular dividend.
BuzzFeed, Inc. (BZFD) operates in the Communications Services, Nec industry, within the Communication Services sector.
BuzzFeed, Inc. (BZFD) reported annual revenue of $190 million in its most recent fiscal year, based on SEC EDGAR filings.
BuzzFeed, Inc. (BZFD) has a net profit margin of -5.3%. The company is currently unprofitable.
BuzzFeed, Inc. (BZFD) generated $-21 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
BuzzFeed, Inc. (BZFD) has a debt-to-equity ratio of 0.24. This indicates a conservatively financed balance sheet.
BuzzFeed, Inc. (BZFD) reported earnings per share (EPS) of $-0.26 in its most recent fiscal year.
BuzzFeed, Inc. (BZFD) has a return on equity (ROE) of -9.5%. A negative ROE may indicate losses or negative equity.
BuzzFeed, Inc. (BZFD) has a 5-year average gross margin of 47.2%. This indicates decent pricing power.
The Ledger Terminal provides 5 years of financial data for BuzzFeed, Inc. (BZFD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BuzzFeed, Inc. (BZFD) has a book value per share of $2.72, based on its most recent annual SEC filing.