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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue $ 938,719 $ 1,111,341 $ 2,817,926 $ 3,307,201
Operating costs and expenses:        
Cost of revenue (exclusive of depreciation shown separately below) 257,811 342,353 797,278 1,038,360
Selling and marketing expense 338,262 407,355 1,017,895 1,224,606
General and administrative expense 185,258 210,507 607,925 701,749
Product development expense 78,262 79,714 243,420 250,899
Depreciation 26,445 33,776 96,466 136,231
Amortization of intangibles 36,355 61,373 109,793 170,162
Goodwill impairment 0 9,000 0 9,000
Total operating costs and expenses 922,393 1,144,078 2,872,777 3,531,007
Operating income (loss) 16,326 (32,737) (54,851) (223,806)
Interest expense (39,701) (40,157) (118,934) (117,406)
Unrealized (loss) gain on investment in MGM Resorts International (346,272) (463,421) (361,805) 209,057
Other income, net 16,363 25,455 105,861 60,189
Loss before income taxes (353,284) (510,860) (429,729) (71,966)
Income tax benefit 115,839 118,838 95,789 3,633
Net loss (237,445) (392,022) (333,940) (68,333)
Net (earnings) loss attributable to noncontrolling interests (6,274) 1,484 (6,980) 6,525
Net loss attributable to IAC shareholders $ (243,719) $ (390,538) $ (340,920) $ (61,808)
Per share information attributable to IAC common stock and Class B common stock shareholders:        
Basic loss per share (USD per share) $ (2.93) $ (4.72) $ (4.10) $ (0.74)
Diluted loss per share (USD per share) $ (2.93) $ (4.72) $ (4.10) $ (0.74)
Stock-based compensation expense by function:        
Stock-based compensation expense $ 28,231 $ 28,962 $ 86,237 $ 88,096
Cost of revenue        
Stock-based compensation expense by function:        
Stock-based compensation expense 504 553 1,757 1,105
Selling and marketing expense        
Stock-based compensation expense by function:        
Stock-based compensation expense 1,443 2,552 5,456 6,493
General and administrative expense        
Stock-based compensation expense by function:        
Stock-based compensation expense 23,737 22,849 71,806 69,733
Product development expense        
Stock-based compensation expense by function:        
Stock-based compensation expense $ 2,547 $ 3,008 $ 7,218 $ 10,765