BuzzFeed, Inc. (BZFD) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
229 WEST 43RD STREET, 10TH FLOOR NEW YORK, NY 10036 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4899 - Communications Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | |||
|---|---|---|---|---|---|
| ASSETS | |||||
| Current Assets | |||||
| Cash, cash equivalents, and short-term investments | 55,774 | 79,733 | |||
| Cash and cash equivalents | 55,774 | 79,733 | |||
| Receivables | 116,460 | 142,909 | |||
| Contract with customer, asset, after allowance for credit loss | 12,100 | 13,300 | |||
| Other undisclosed current assets | 14,273 | 15,717 | |||
| Total current assets: | 198,607 | 251,659 | |||
| Noncurrent Assets | |||||
| Operating lease, right-of-use asset | 66,581 | ||||
| Property, plant and equipment | 17,774 | 23,052 | |||
| Intangible assets, net (including goodwill) | 212,961 | 331,394 | |||
| Goodwill | 91,632 | 194,881 | |||
| Intangible assets, net (excluding goodwill) | 121,329 | 136,513 | |||
| Asset, held-in-trust | 16,200 | ||||
| Other undisclosed noncurrent assets | 34,049 | 14,909 | |||
| Total noncurrent assets: | 331,365 | 385,555 | |||
| TOTAL ASSETS: | 529,972 | 637,214 | |||
| LIABILITIES AND EQUITY | |||||
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts payable and accrued liabilities | 55,686 | 84,845 | |||
| Employee-related liabilities | ✕ | ✕ | 37,434 | ||
| Accounts payable | 29,329 | 16,025 | |||
| Accrued liabilities | 26,357 | 31,386 | |||
| Deferred revenue | 8,836 | 1,676 | |||
| Deferred rent credit | 4,894 | ||||
| Other liabilities | 3,900 | 2,731 | |||
| Other undisclosed current liabilities | 54,450 | ||||
| Total current liabilities: | 122,872 | 94,146 | |||
| Noncurrent Liabilities | |||||
| Long-term debt and lease obligation | 152,253 | 141,878 | |||
| Long-term debt, excluding current maturities | 152,253 | 141,878 | |||
| Liabilities, other than long-term debt | 59,898 | 21,371 | |||
| Deferred rent credit | 12,504 | ||||
| Other liabilities | 403 | 3,992 | |||
| Operating lease, liability | 59,315 | ||||
| Derivative instruments and hedges, liabilities | 180 | 4,875 | |||
| Other undisclosed noncurrent liabilities | 395 | 4,938 | |||
| Total noncurrent liabilities: | 212,546 | 168,187 | |||
| Total liabilities: | 335,418 | 262,333 | |||
| Temporary equity, carrying amount | 2,294 | ||||
| Equity | |||||
| Equity, attributable to parent, including: | 191,217 | 370,543 | |||
| Additional paid in capital | 716,233 | 695,869 | |||
| Accumulated other comprehensive loss | (1,968) | (3,233) | |||
| Accumulated deficit | (523,063) | (322,106) | |||
| Other undisclosed equity, attributable to parent | 15 | 13 | |||
| Equity, attributable to noncontrolling interest | 3,337 | 2,044 | |||
| Total equity: | 194,554 | 372,587 | |||
| TOTAL LIABILITIES AND EQUITY: | 529,972 | 637,214 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|
| Revenues | 436,674 | 397,564 | ||
| Cost of revenue | (261,815) | (207,397) | ||
| Cost of goods and services sold | (261,815) | (207,397) | ||
| Gross profit: | 174,859 | 190,167 | ||
| Operating expenses | (359,166) | (215,321) | ||
| Operating loss: | (184,307) | (25,154) | ||
| Nonoperating expense | (3,076) | (3,974) | ||
| Investment income, nonoperating | (1,234) | |||
| Other nonoperating expense | (3,076) | (2,740) | ||
| Interest and debt expense | ||||
| Loss from continuing operations before equity method investments, income taxes: | (187,383) | (29,128) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (11,917) | 28,600 | ||
| Loss from continuing operations before income taxes: | (199,300) | (528) | ||
| Income tax expense (benefit) | (2,026) | 26,404 | ||
| Income (loss) from continuing operations: | (201,326) | 25,876 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 25,876 | ||
| Net income (loss): | (201,326) | 25,876 | ||
| Net income attributable to noncontrolling interest | ||||
| Other undisclosed net income (loss) attributable to parent | 369 | (1,164) | ||
| Net income (loss) attributable to parent: | (200,957) | 24,712 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (24,712) | |||
| Net loss available to common stockholders, basic: | (200,957) | |||
| Interest on convertible debt | 1,317 | |||
| Other undisclosed net loss available to common stockholders, diluted | (2,033) | |||
| Net loss available to common stockholders, diluted: | (200,957) | (716) | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|
| Net income (loss): | (201,326) | 25,876 | ||
| Other comprehensive income (loss) | 633 | 126 | ||
| Comprehensive income (loss): | (200,693) | 26,002 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 533 | (228) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 468 | (936) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (199,692) | 24,838 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.