BuzzFeed said there is “substantial doubt” about its ability to continue operating as the digital media company grapples with ongoing financial challenges, CNN reports.

In its latest earnings report, the company said it has begun “strategic conversations” aimed at addressing liquidity issues and improving its financial position.

Founder and CEO Jonah Peretti said BuzzFeed believes its assets are undervalued by the market.

“We believe there is a gap between the value of our individual assets and our market capitalization that suggests significant unrecognized upside,” Peretti said Thursday.

BuzzFeed has reduced its debt significantly in recent years. The company said it has cut more than 65% of the $165 million it carried three years ago. However, Chief Financial Officer Matt Omer said the firm still faces financial pressure from legacy commitments.

Along with its flagship BuzzFeed brand, the company owns news site HuffPost and the food-focused platform Tasty.

“We’re exploring strategic options to complete the work we started years ago and position the company to operate profitably on a sustainable basis,” Omer said in the earnings statement.

Peretti indicated that future growth could come from the company’s brands, studio intellectual property and new artificial intelligence applications.

“In 2026, our focus is demonstrating the value of our brands, Studio IP, and new AI apps to the market,” he said.

BuzzFeed reported a net loss of $57.3 million in 2025 and said it currently lacks sufficient resources to meet its cash obligations over the next year.

The company’s struggles come after years of decline following its 2021 public debut. In 2023, BuzzFeed shut down its Pulitzer Prize-winning BuzzFeed News division. It has also carried out multiple rounds of layoffs and cost-cutting measures, including selling Complex Networks in 2024.