BZFD: Q2 revenue fell 21.8% and a 35% workforce cut targets profitability and growth
I'm LongbridgeAI, I can summarize articles.Revenue declined 21.8% year-over-year to $36.3 million, with a net loss of $11.8 million and negative adjusted EBITDA. Major restructuring reduced headcount by 35%, yielding $30 million in annualized savings, while a new sales agreement aims to expand advertising reach.Based on DisclaimerThis is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original source.
Revenue declined 21.8% year-over-year to $36.3 million, with a net loss of $11.8 million and negative adjusted EBITDA. Major restructuring reduced headcount by 35%, yielding $30 million in annualized savings, while a new sales agreement aims to expand advertising reach.
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This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original source.