Ziff Davis Quarterly Report: Q3 2025

1. 01
   Ziff Davis is a digital media and internet company with a portfolio spanning technology, shopping, gaming and entertainment, health and wellness, connectivity, cybersecurity, and martech.
2. 02
   In Q3 2025, the Gaming & Entertainment segment saw customer growth to 514,000 (up from 484,000 in Q3 2024), though average quarterly revenue per customer slightly decreased to $30.49 (from $30.60).
3. 03
   The Health & Wellness segment experienced customer growth to 1,902,000 in Q3 2025 (up from 1,731,000 in Q3 2024), but average quarterly revenue per customer declined to $7.17 (from $7.38).
4. 04
   The Cybersecurity & Martech segment had 1,232,000 customers in Q3 2025 (down from 1,251,000 in Q3 2024), but average quarterly revenue per customer slightly increased to $56.13 (from $55.99).
5. 05
   The Connectivity segment showed slight customer growth to 25,000 in Q3 2025 (from 24,000 in Q3 2024), with average quarterly revenue per customer increasing to $1,988 (from $1,972).
6. 06
   Ziff Davis is facing two class-action lawsuits: one in Washington regarding job postings without wage scales/salary ranges, and another in California against Mashable, Inc. concerning the use of third-party trackers in violation of privacy laws.
7. 07
   The company's investment in a corporate debt security, valued at zero as of September 30, 2025, due to a decline below its amortized cost, resulted in a reclassification of $2.7 million (net of tax) out of accumulated other comprehensive loss during the three and nine months ended September 30, 2025.

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