BuzzFeed postponed a fresh projection for 2026 after third-quarter sales contracted 44%, while the company worked through a May deal and cuts made in July.
BuzzFeed generated $26.03 million in sales in the quarter, $20.29 million less than the $46.32 million reported for the comparable period last year. Its quarterly net loss totaled $18.66 million; the prior-year figure was $7.43 million.
The company posted negative $4.76 million in adjusted EBITDA, a non-GAAP measure, after recording $753,000 of positive adjusted EBITDA for the 2025 quarter. It also booked restructuring costs of $7.19 million.
The July plan left BuzzFeed with roughly 35% fewer employees and dedicated contractors. BuzzFeed projected yearly savings of $29 million to $32 million, with most of the effect beginning in the third quarter and extending beyond it. Chairman and CEO Byron Allen put the target at “approximately $30 million in annualized savings.”
BuzzFeed’s July estimate put restructuring expenses at $6.5 million to $8.5 million, with the bulk concentrated in the third quarter and most cash payments expected by the fourth quarter’s end. The $7.19 million charged in the latest period sits inside that range.
The May arrangement with Allen Family Digital was built around 40 million Class A shares, each carrying a $3 value. Cash worth $20 million and a $100 million promissory note completed the $120 million package.
As of Nov. 4, BuzzFeed had not put out a substitute projection for 2026.
