iaci-20260602

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): June 2, 2026

IAC Inc.

(Exact name of registrant as specified in charter)


Delaware	001-39356	84-3727412
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

555 West 18th Street,

New York,

10011

(Address of principal executive offices)

(Zip 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 communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement 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 Symbol(s)

Name of exchange on which registered

Common Stock, par value $0.0001

IAC

The Nasdaq Stock Market LLC

(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 7.01. Regulation FD Disclosure.

On December 10, 2025, IAC Inc. (“IAC” or the “Company”), which is in the process of being renamed “People Incorporated,” received a notice of non-renewal (the “Notice”) from Google of the services agreement, dated October 26, 2015 and subsequently amended (the “Services Agreement”). As a result of the Notice, the Services Agreement was due to expire on March 31, 2026; the Services Agreement was extended through April 30, 2026, at which point the Services Agreement expired. In connection with the expiration of the Services Agreement, the Company ceased operations of its Search segment.

On June 2, 2026, the Company posted supplemental financial information to reflect the Search segment as discontinued operations for all periods prior to the expiration of the Services Agreement on April 30, 2026 in accordance with ASC 205, “Presentation of Financial Statements,” within IAC’s consolidated financial statements on its website (http://ir.iac.com/quarterly-results).

Other than the changes described above, there are no other changes to the Company's reportable segments reflected in the supplemental financial information, a copy of which is furnished herewith as Exhibit 99.1.

The information contained in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

Exhibits.


Exhibit Number			Description
99.1			Supplemental financial information
104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

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 Inc.

			By:						/s/ KENDALL HANDLER
			Name:						Kendall Handler
			Title:						Executive Vice President, Chief Legal Officer & Secretary

Date: June 2, 2026

Exhibit 99.1

The tables below reflect IAC on a continuing operations basis, updated to reflect the Search segment as discontinued operations for periods prior to operations ceasing in connection with the expiration of the Google Services Agreement on April 30, 2026 as described in Item 7.01 of this Form 8-K. The information presented below should be read in conjunction with IAC Inc.'s historical consolidated financial statements and notes thereto found on the U.S. Securities and Exchange Commission's website at http://www.sec.gov.


	2024		2025										2026
	FYE 12/31		Q1		Q2		Q3		Q4		FYE 12/31		Q1
	(Unaudited; in thousands)
Revenue
People Inc.
Digital	$	1,086,367	$	234,520	$	273,999	$	283,167	$	370,200	$	1,161,886	$	253,223
Print	711,636		163,270		158,263		152,594		148,178		622,305		137,837
Intersegment eliminations	(20,774)		(4,719)		(4,892)		(5,934)		(6,573)		(22,118)		(5,331)
Total People Inc.	1,777,229		393,071		427,370		429,827		511,805		1,762,073		385,729
Emerging & Other	89,028		18,287		15,877		17,288		19,551		71,003		20,078
Intersegment eliminations	(1,218)		(1)		—		—		(1)		(2)		(10)
Total revenue	$	1,865,039	$	411,357	$	443,247	$	447,115	$	531,355	$	1,833,074	$	405,797

Operating income (loss)
People Inc.
Digital(a)	$	154,367	$	17,876	$	38,371	$	38,434	$	113,305	$	207,986	$	27,827
Print(b)	17,059		8,744		10,905		1,016		6,769		27,434		1,744
Other(c)(d)	(64,552)		16,587		(14,497)		(10,917)		(14,034)		(22,861)		(19,166)
Total People Inc.	106,874		43,207		34,779		28,533		106,040		212,559		10,405
Emerging & Other(e)	(37,695)		(4,886)		(9,221)		(20,797)		2,552		(32,352)		2,871
Corporate(f)	(144,284)		(17,218)		(33,050)		(34,981)		(31,066)		(116,315)		(45,092)
Total operating (loss) income	$	(75,105)	$	21,103	$	(7,492)	$	(27,245)	$	77,526	$	63,892	$	(31,816)

Stock-based compensation expense
People Inc.
Digital	$	(10,097)	$	(1,855)	$	(3,034)	$	(3,211)	$	(3,464)	$	(11,564)	$	(2,922)
Print	(2,045)		(450)		(442)		(451)		(430)		(1,773)		(238)
Other(c)	(13,683)		(3,188)		(3,727)		(4,060)		(4,102)		(15,077)		(5,530)
Total People Inc.	(25,825)		(5,493)		(7,203)		(7,722)		(7,996)		(28,414)		(8,690)
Emerging & Other	(1,626)		(345)		(2,874)		(743)		(602)		(4,564)		(1,335)
Corporate	(45,708)		27,228		(8,233)		(7,412)		(6,509)		5,074		(6,387)
Total stock-based compensation expense	$	(73,159)	$	21,390	$	(18,310)	$	(15,877)	$	(15,107)	$	(27,904)	$	(16,412)


	2024		2025										2026
	FYE 12/31		Q1		Q2		Q3		Q4		FYE 12/31		Q1
	(Unaudited; in thousands)
Depreciation
People Inc.
Digital	$	(15,943)	$	(3,074)	$	(3,167)	$	(4,428)	$	(3,933)	$	(14,602)	$	(3,587)
Print	(7,258)		(1,393)		(1,403)		(1,237)		(1,104)		(5,137)		(927)
Other(c)	(3,103)		(4,706)		(651)		(525)		(1,274)		(7,156)		(854)
Total People Inc.	(26,304)		(9,173)		(5,221)		(6,190)		(6,311)		(26,895)		(5,368)
Emerging & Other	(65)		(23)		(9)		(8)		(9)		(49)		(8)
Corporate	(8,408)		(2,045)		(2,038)		(2,037)		(1,935)		(8,055)		(1,938)
Total depreciation	$	(34,777)	$	(11,241)	$	(7,268)	$	(8,235)	$	(8,255)	$	(34,999)	$	(7,314)

Amortization of intangibles
People Inc.
Digital	$	(116,542)	$	(18,724)	$	(18,723)	$	(18,826)	$	(18,235)	$	(74,508)	$	(15,576)
Print	(19,875)		(3,694)		(3,695)		(3,695)		(3,617)		(14,701)		(3,464)
Other(c)	—		—		—		—		—		—		—
Total People Inc.	(136,417)		(22,418)		(22,418)		(22,521)		(21,852)		(89,209)		(19,040)
Emerging & Other	(9)		—		—		—		—		—		—
Corporate	—		—		—		—		—		—		—
Total amortization of intangibles	$	(136,426)	$	(22,418)	$	(22,418)	$	(22,521)	$	(21,852)	$	(89,209)	$	(19,040)























Adjusted EBITDA(g)
People Inc.
Digital(a)	$	296,949	$	41,529	$	63,295	$	64,899	$	138,937	$	308,660	$	49,912
Print(b)	46,237		14,281		16,445		6,399		11,920		49,045		6,373
Other(c)(d)	(47,766)		24,481		(10,119)		(6,332)		(8,658)		(628)		(12,782)
Total People Inc.	295,420		80,291		69,621		64,966		142,199		357,077		43,503
Emerging & Other(e)	(35,995)		(4,518)		(6,338)		(20,046)		3,163		(27,739)		4,214
Corporate(f)	(90,168)		(42,401)		(22,779)		(25,532)		(22,622)		(113,334)		(36,767)
Total Adjusted EBITDA	$	169,257	$	33,372	$	40,504	$	19,388	$	122,740	$	216,004	$	10,950

The following table reconciles net (loss) earnings attributable to IAC shareholders to operating (loss) income to Adjusted EBITDA:


	2024		2025										2026
	FYE 12/31		Q1		Q2		Q3		Q4		FYE 12/31		Q1
	(Unaudited; in thousands)
Net (loss) earnings attributable to IAC shareholders	$	(539,897)	$	(216,805)	$	211,452	$	(21,879)	$	(76,794)	$	(104,026)	$	(71,882)
Add back:
Net earnings (loss) attributable to noncontrolling interest	6,567		2,237		(819)		142		996		2,556		1,212
(Earnings) loss from discontinued operations, net of income taxes(h)(i)(j)	(78,504)		(34,509)		(19,419)		(31,007)		237,502		152,567		(4,455)
Loss on sale of Care.com, net of income taxes	—		—		—		—		—		—		75,643
Income tax (benefit) provision	(149,941)		(74,767)		74,360		(3,108)		31,594		28,079		(10,109)
Other (income) expense, net	(98,227)		(7,632)		(2,796)		18,447		(24,155)		(16,136)		(14,078)
Unrealized loss (gain) on investment in MGM Resorts International	649,178		324,265		(307,437)		(17,476)		(118,527)		(119,175)		(34,005)
Interest expense	135,719		28,314		37,167		27,636		26,910		120,027		25,858
Operating (loss) income	(75,105)		21,103		(7,492)		(27,245)		77,526		63,892		(31,816)
Add back:
Stock-based compensation expense	73,159		(21,390)		18,310		15,877		15,107		27,904		16,412
Depreciation	34,777		11,241		7,268		8,235		8,255		34,999		7,314
Amortization of intangibles	136,426		22,418		22,418		22,521		21,852		89,209		19,040


Adjusted EBITDA	$	169,257	$	33,372	$	40,504	$	19,388	$	122,740	$	216,004	$	10,950

(a)The third quarter of 2025 operating income of $38.4 million and Adjusted EBITDA of $64.9 million at People Inc. Digital include $8.3 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.

(b)The third quarter of 2025 operating income of $1.0 million and Adjusted EBITDA of $6.4 million at People Inc. Print include $5.8 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.

(c)Other comprises unallocated corporate costs.

(d)The first quarter of 2025 operating income of $16.6 million and Adjusted EBITDA of $24.5 million at People Inc. Other include a net gain of $36.2 million related to certain unoccupied office space. The third quarter of 2025 operating loss of $10.9 million and Adjusted EBITDA loss of $6.3 million at People Inc. Other include a net gain of $5.2 million related to an amendment of a lease, which provided for the surrender of certain office space early, partially offset by $1.0 million of severance-related costs driven by headcount reductions to better align the business with strategic growth opportunities.

(e)The third quarter of 2025 operating loss of $20.8 million and Adjusted EBITDA loss of $20.0 million at Emerging & Other include $21.4 million of legal fees and settlement expenses for litigation that concluded in the third quarter of 2025 related to a legacy business.

(f)The first quarter of 2026 operating loss of $45.1 million and Adjusted EBITDA loss of $36.8 million at Corporate include $10.3 million of severance-related costs driven by a reduction in workforce as IAC Corporate consolidates its corporate functions with those of People Inc.

(g)Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets, if applicable, and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements, if applicable. We believe this measure is useful for investors and analysts as this measure allows a more meaningful comparison between our performance and that of our competitors. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.

(h)On March 31, 2025, IAC completed the spin-off of Angi, including Roofing, by means of a special dividend (the "Distribution") of all shares of Angi capital stock held by IAC to holders of its common stock and Class B common stock. As a result of the Distribution, IAC no longer owns any shares of Angi's capital stock and Angi became an independent public company. The operations of Angi are presented as discontinued operations within IAC's consolidated financial statements for all periods prior to March 31, 2025.

(i)On March 16, 2026, IAC completed the sale of Care.com. As a result of the sale, the operations of Care.com are presented as discontinued operations within IAC’s consolidated financial statements for all periods presented above.

(j)The operations of the Search segment are presented as discontinued operations within IAC’s consolidated financial statements for all periods prior to operations ceasing in connection with the expiration of the Google Services Agreement on April 30, 2026.