BuzzFeed Defers 2026 Outlook, Expects $30 Million in Annualized Savings

BuzzFeed deferred its full-year 2026 financial outlook as it integrates a May transaction and July restructuring, while the restructuring is expected to produce about $30 million in annualized savings.

Revenue for the quarter ended Sept. 30 was $26.03 million, down 44% from $46.32 million in the same period a year earlier. The company’s net loss widened to $18.66 million from $7.43 million.

Adjusted EBITDA, a non-GAAP measure, was a loss of $4.76 million. BuzzFeed had reported adjusted EBITDA income of $753,000 in the third quarter of 2025.

BuzzFeed recorded $7.19 million in restructuring costs during the latest quarter. In July, the company estimated restructuring charges of $6.5 million to $8.5 million, expected primarily in the third quarter, with most cash payments due by the end of the fourth quarter.

The July plan reduced BuzzFeed’s workforce and dedicated contractors by about 35%. The company projected annualized savings of $29 million to $32 million, beginning primarily in the third quarter and beyond. Chairman and CEO Byron Allen described the expected savings as “approximately $30 million in annualized savings.” The figure is a projection at a yearly rate, not a reported amount of savings already achieved.

The outlook deferral also reflects BuzzFeed’s integration of its May transaction with Allen Family Digital. The agreement provided for 40 million Class A shares at $3 per share, for total consideration of $120 million: $20 million in cash and a $100 million promissory note.

BuzzFeed did not provide a replacement full-year 2026 forecast on Nov. 4.