People Reports Q2 2026 Results: Full Earnings Call Transcript

On Tuesday, People (NASDAQ: PPLI ) discussed second-quarter financial results during its earnings call.

The full transcript is provided below.

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Access the full call at Summary People reported strong Q2 2026 results with 6% digital revenue growth, marking the 11th consecutive quarter of growth, and an 18% increase in digital adjusted EBITDA with margins expanding to 26%.

The company is undergoing a leadership transition, with Neil Vogel taking over as CEO and Tim Quinn as CFO, focusing on executing a streamlined strategy centered on core assets like MGM and simplifying non-core portfolios.

People announced a $189 million cash influx from selling a limited partner stake in a third-party fund, which will bolster its balance sheet as it continues to trade at a discount to its asset value.

Strategic initiatives include AI-driven efficiencies, headcount optimization, and new revenue streams from events, subscriptions, and content licensing, with plans to maintain mid to high single-digit digital revenue growth for the full year.

The company is adapting its adjusted EBITDA definition to exclude non-core operating performance items for clearer financial reporting and has confirmed full-year guidance reflecting these changes.

Management expressed confidence in leveraging high-quality content for AI licensing deals and expanding non-session-based revenue while maintaining traditional ad revenue streams.

People's corporate consolidation is on track, aiming for significant cost reductions by the first quarter of 2027, with a focus on completing the transformation into a more efficient and focused entity.

Full Transcript OPERATOR Good day and welcome to the People second quarter 2026 earnings conference call.

All participants will be in a listen-only mode.

Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.

After introductory remarks, there will be an opportunity to ask questions.

To ask a question, you may press star then one on your telephone keypad.

And to withdraw your question, please press star then two.

Please note this event is being recorded.

I would now like to turn the conference over to Mr.

Christopher Halpin, Executive Vice President, Chief Operating Officer and Chief Financial Officer of People.

Please go ahead.

Christopher Halpin, EVP, COO and CFO Thank you.

Good morning everyone.

Christopher Halpin here and welcome to the People second quarter earnings call.

Joining me today are Barry Diller, Chairman and Senior Executive of People, Neil Vogel and Tim Quinn.

After close of business today, we will complete our leadership transition, making this my last call with you all.

Then I will pass the torch in this new chapter to Neil who will be CEO of People, and Tim who will be CFO of People.

People has published a presentation on the investor relations section of our website today entitled Q2 Earnings Presentation.

On this call, Barry, Neil, Tim and I will provide some introductory remarks referencing that presentation and then open it up to Q&A.

Before we get to that, I'd like to remind you that during this presentation we may make certain statements that are considered forward-looking under the federal securities laws.

These forward-looking statements may include statements related to our outlook, strategy and future performance and are based on current expectations and on information currently available to us.

Actual outcomes and results may differ materially from the future results expressed or implied in these statements due to a number of risks and uncertainties, including those contained in our most recent annual report on Form 10-K and in the subsequent reports we filed with the SEC.

The information provided on this conference call should be considered in light of such risks.

We'll also discuss certain non-GAAP measures which, as a reminder, include adjusted EBITDA which we'll refer to today as EBITDA for simplicity.

During the call I'll also refer you to our earnings release, investor presentations, our public filings with the SEC, and again to the investor relations section of our website for all comparable GAAP measures and full reconciliations for all material non-GAAP measures.

And now I will hand it over to Barry.