People Incorporated (NASDAQ:PPLI) filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 2, 2026, reporting a net loss attributable to shareholders of $687,491 thousand for the three months ended September 30, 2026.

Key Highlights

  • Quarterly net loss: Net loss attributable to People Incorporated shareholders was $687,491 thousand for Q3 2026, compared to $21,879 thousand in Q3 2025.
  • MGM Resorts stake: The company recorded an unrealized loss on its investment in MGM Resorts International of $1,119,943 thousand in the three months ended September 30, 2026, versus an unrealized gain of $17,476 thousand in the same period of 2025.
  • Revenue decline: Revenue was $430,820 thousand for Q3 2026, down from $447,115 thousand in Q3 2025; nine-month revenue was $1,273,353 thousand versus $1,301,719 thousand a year earlier.
  • Care.com divestiture: The company recognized a loss on the sale of Care.com of $78,300 thousand, net of income taxes, in the nine months ended September 30, 2026.
  • Basic and diluted loss per share: Basic and diluted loss per share attributable to People Incorporated shareholders was $(9.15) for Q3 2026, compared to $(0.27) for Q3 2025.
  • Shares outstanding: As of October 30, 2026, the company reported 69,254,666 shares of common stock and 5,789,499 shares of Class B common stock outstanding, totaling 75,044,165 shares.
  • Total assets: Total assets were $6,561,724 thousand at September 30, 2026, down from $7,194,917 thousand at December 31, 2025.

People Incorporated Reports Steep Q3 2026 Loss Driven by MGM Investment Decline

According to the filing, People Incorporated reported a net loss from continuing operations of $684,900 thousand for the three months ended September 30, 2026, compared to a net loss from continuing operations of $52,744 thousand in the same quarter of 2025. The company attributed the primary driver of the widened loss to an unrealized loss of $1,119,943 thousand on its investment in MGM Resorts International during the quarter. The fair value of that investment stood at $2,074,834 thousand on the balance sheet as of September 30, 2026, down from $2,401,858 thousand at December 31, 2025.

The filing reported an operating loss of $3,047 thousand for Q3 2026, narrower than the $27,245 thousand operating loss recorded in Q3 2025. Total operating costs and expenses for the quarter were $433,867 thousand, down from $474,360 thousand a year earlier. General and administrative expense for the nine months ended September 30, 2026 was $312,554 thousand, compared to $246,019 thousand for the same period in 2025, with total stock-based compensation expense of $76,491 thousand for the nine-month period versus $12,797 thousand in the prior year.

On the balance sheet, cash and cash equivalents increased to $1,318,784 thousand at September 30, 2026, from $941,311 thousand at December 31, 2025. The accumulated deficit widened to $895,522 thousand from $643,000 thousand over the same period. Treasury stock grew to $704,056 thousand (15,517 shares) from $571,032 thousand (12,026 shares) at December 31, 2025. The filing also noted discontinued operations, with current assets of discontinued operations declining to $27 thousand from $95,716 thousand at year-end 2025, reflecting the completion of activity related to those units, including the Care.com sale.

What Was Disclosed

People Incorporated disclosed its unaudited consolidated financial results for the quarter and nine months ended September 30, 2026, including a large unrealized loss on its MGM Resorts International investment, a loss on the sale of Care.com, and a wider accumulated deficit compared to year-end 2025.