8-K
IAC Inc. (IAC)
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): October 12, 2021
IAC/INTERACTIVECORP
(Exact name of registrant as specified in charter)
| Delaware | 001-39356 | 84-3727412 |
|---|---|---|
| (State<br> or other jurisdiction | (Commission | (IRS<br> Employer |
| of<br> incorporation) | File<br> Number) | Identification<br> No.) |
| 555<br> West 18th Street, New<br> York, NY | 10011 | |
| --- | --- | |
| (Address<br> of principal executive offices) | (Zip<br> Code) |
Registrant’s telephone number, including
area code: (212) 314-7300
| (Former name or former address, if changed since last report) |
|---|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written<br>communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ¨ | Soliciting<br>material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ¨ | Pre-commencement<br>communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ¨ | Pre-commencement<br>communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br> Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.0001 | IAC | The Nasdaq Stock Market LLC<br> (Nasdaq Global Select Market) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 2.02 | Results of Operations and Financial Condition. |
|---|---|
| Item 7.01 | Regulation FD Disclosure. |
| --- | --- |
On October 12, 2021, the Registrant announced that it had posted a shareholder letter on the investor relations section of its website (https://ir.iac.com/quarterly-results), which letter contains preliminary monthly trends for its various financial reporting segments through September 30, 2021, as set forth immediately below.
| 3/2021 | 4/2021 | 5/2021 | 6/2021 | 7/2021 | 8/2021 | 9/2021(1) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Angi Inc. | ||||||||||||||
| Marketplace Revenue (2) | 35 | % | 27 | % | 5 | % | 5 | % | 17 | % | 24 | % | 21 | % |
| Advertising and Other Revenue | 10 | % | 10 | % | 14 | % | 14 | % | 15 | % | 12 | % | 10 | % |
| Total North America Revenue | 30 | % | 24 | % | 7 | % | 7 | % | 17 | % | 22 | % | 19 | % |
| Europe Revenue | 61 | % | 53 | % | 12 | % | 1 | % | 0 | % | 2 | % | 4 | % |
| Total Revenue | 31 | % | 25 | % | 7 | % | 7 | % | 16 | % | 21 | % | 18 | % |
| Angi Services Revenue<br> (included in Marketplace above) (2) | 100 | % | 197 | % | 115 | % | 97 | % | 170 | % | 165 | % | 149 | % |
| Marketplace Service Requests | 60 | % | 30 | % | -7 | % | -13 | % | -13 | % | -13 | % | -8 | % |
| Marketplace Monetized Transactions | 46 | % | 28 | % | 5 | % | 3 | % | 0 | % | 2 | % | 2 | % |
| Marketplace Transacting Service Professionals | 11 | % | 14 | % | 16 | % | 16 | % | 12 | % | 9 | % | 7 | % |
| Advertising Service Professionals | 6 | % | 7 | % | 7 | % | 6 | % | 4 | % | 2 | % | 1 | % |
| Dotdash | ||||||||||||||
| Display Advertising Revenue | 28 | % | 70 | % | 73 | % | 64 | % | 34 | % | 37 | % | 33 | % |
| Performance Marketing Revenue | 87 | % | 62 | % | 59 | % | 51 | % | 25 | % | 18 | % | 10 | % |
| Total Revenue | 47 | % | 67 | % | 67 | % | 59 | % | 31 | % | 29 | % | 25 | % |
| Search | ||||||||||||||
| Ask Media Group Revenue | 66 | % | 85 | % | 80 | % | 54 | % | 51 | % | 101 | % | 110 | % |
| Desktop Revenue | -24 | % | -30 | % | -25 | % | -17 | % | -19 | % | -11 | % | -20 | % |
| Total Revenue | 35 | % | 43 | % | 45 | % | 32 | % | 30 | % | 67 | % | 74 | % |
| Emerging & Other | ||||||||||||||
| Total Revenue | 41 | % | 36 | % | 44 | % | 40 | % | 31 | % | 33 | % | 33 | % |
| (1) | As<br> of the date of this report, the Registrant has not yet completed its financial close process<br> for the quarter ended September 30, 2021 and its monthly results continue to be volatile<br> as the global COVID-19 pandemic continues to change consumer and business behavior in unpredictable<br> ways. As a result, the information set forth above is preliminary and based upon information<br> available to the Registrant as of the date of this report. During the course of the Registrant’s<br> financial close process for the quarter ended September 30, 2021, it may identify items that<br> would require adjustments to the information set forth above, which could be material. | |||||||||||||
| --- | --- | |||||||||||||
| (2) | Includes<br> the Total Home Roofing acquisition, which closed on July 1, 2021. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IAC/InterActiveCorp | |
|---|---|
| By: | /s/<br> Kendall Handler |
| Name: | Kendall Handler |
| Title: | Senior Vice President, General Counsel & Secretary |
Date: October 12, 2021
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