KANZHUN LIMITED Announces Third Quarter 2024 Financial Results
KANZHUN (Nasdaq: BZ) reported strong Q3 2024 financial results with significant growth across key metrics. Revenues increased 19.0% year-over-year to RMB1,911.6 million (US$272.4 million). The company saw a 22.4% increase in total paid enterprise customers to 6.0 million and a 30.0% rise in average monthly active users to 58.0 million.
Net income grew 8.9% to RMB463.8 million (US$66.1 million), while adjusted net income rose 3.5% to RMB738.9 million (US$105.3 million). The company maintained strong cash position of RMB14,599.5 million (US$2,080.4 million) and announced two share repurchase programs totaling US$350 million. For Q4 2024, KANZHUN expects revenues between RMB1.795-1.81 billion, projecting 13.6-14.6% year-over-year growth.
KANZHUN (Nasdaq: BZ) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con una crescita significativa in tutte le principali metriche. I ricavi sono aumentati del 19,0% rispetto all'anno precedente, raggiungendo 1.911,6 milioni di RMB (272,4 milioni di US$). L'azienda ha registrato un incremento del 22,4% nel numero totale di clienti aziendali a pagamento, arrivando a 6,0 milioni, e un aumento del 30,0% degli utenti attivi mensili medi, raggiungendo i 58,0 milioni.
Il reddito netto è cresciuto dell'8,9%, raggiungendo 463,8 milioni di RMB (66,1 milioni di US$), mentre il reddito netto rettificato è aumentato del 3,5%, toccando 738,9 milioni di RMB (105,3 milioni di US$). L'azienda ha mantenuto una solida posizione di cassa di 14.599,5 milioni di RMB (2.080,4 milioni di US$) e ha annunciato due programmi di riacquisto di azioni per un totale di 350 milioni di US$. Per il quarto trimestre del 2024, KANZHUN prevede ricavi tra 1,795 e 1,81 miliardi di RMB, con una crescita prevista del 13,6-14,6% rispetto all'anno precedente.
KANZHUN (Nasdaq: BZ) informó resultados financieros sólidos para el tercer trimestre de 2024, con un crecimiento significativo en todas las métricas clave. Los ingresos aumentaron un 19,0% interanual, alcanzando 1.911,6 millones de RMB (272,4 millones de US$). La compañía experimentó un incremento del 22,4% en el número total de clientes empresariales de pago, que llegó a 6,0 millones, y un aumento del 30,0% en el promedio de usuarios activos mensuales, alcanzando los 58,0 millones.
El ingreso neto creció un 8,9% hasta 463,8 millones de RMB (66,1 millones de US$), mientras que el ingreso neto ajustado aumentó un 3,5% a 738,9 millones de RMB (105,3 millones de US$). La empresa mantuvo una sólida posición de efectivo de 14.599,5 millones de RMB (2.080,4 millones de US$) y anunció dos programas de recompra de acciones por un total de 350 millones de US$. Para el cuarto trimestre de 2024, KANZHUN espera ingresos entre 1.795 y 1.81 mil millones de RMB, proyectando un crecimiento del 13,6-14,6% interanual.
KANZHUN (Nasdaq: BZ)은 2024년 3분기 강력한 재무 실적을 보고하였으며, 주요 지표에서 상당한 성장을 보였습니다. 수익은 전년 대비 19.0% 증가하여 1,911.6백만 RMB (2.724백만 US$)에 달했습니다. 회사는 유료 기업 고객 수가 22.4% 증가하여 6.0백만 명에 도달했으며, 평균 월간 활성 사용자 수는 30.0% 증가하여 58.0백만 명에 이르렀습니다.
순이익은 8.9% 증가하여 463.8백만 RMB (66.1백만 US$)에 이르렀고, 조정된 순이익은 3.5% 증가하여 738.9백만 RMB (105.3백만 US$)에 도달했습니다. 회사는 14,599.5백만 RMB (2,080.4백만 US$)의 강력한 현금 위치를 유지하고 있으며, 총 3억 5천만 US$의 주식 매입 프로그램을 두 개 발표했습니다. 2024년 4분기 동안 KANZHUN은 1,795억에서 1,81억 RMB 사이의 수익을 예측하며, 전년 대비 13.6-14.6%의 성장을 예상하고 있습니다.
KANZHUN (Nasdaq: BZ) a publié de solides résultats financiers pour le troisième trimestre de 2024, avec une croissance significative dans tous les indicateurs clés. Les revenus ont augmenté de 19,0% par rapport à l'année précédente, atteignant 1.911,6 millions de RMB (272,4 millions de US$). L'entreprise a enregistré une augmentation de 22,4% du nombre total de clients d'entreprise payants, s'élevant à 6,0 millions, et une hausse de 30,0% du nombre moyen d'utilisateurs actifs mensuels, atteignant 58,0 millions.
Le revenu net a augmenté de 8,9% pour atteindre 463,8 millions de RMB (66,1 millions de US$), tandis que le revenu net ajusté a augmenté de 3,5% pour atteindre 738,9 millions de RMB (105,3 millions de US$). L'entreprise a maintenu une solide position de liquidités de 14.599,5 millions de RMB (2.080,4 millions de US$) et a annoncé deux programmes de rachat d'actions d'un total de 350 millions de US$. Pour le quatrième trimestre de 2024, KANZHUN s'attend à des revenus entre 1,795 et 1,81 milliard de RMB, prévoyant une croissance de 13,6 à 14,6% par rapport à l'année précédente.
KANZHUN (Nasdaq: BZ) hat für das dritte Quartal 2024 solide Finanzzahlen mit erheblichem Wachstum bei allen wichtigen Kennzahlen gemeldet. Die Einnahmen stiegen im Jahresvergleich um 19,0% auf 1.911,6 Millionen RMB (272,4 Millionen US$). Das Unternehmen verzeichnete einen Anstieg der zahlenden Unternehmenskunden um 22,4% auf 6,0 Millionen und einen Anstieg der durchschnittlichen monatlich aktiven Benutzer um 30,0% auf 58,0 Millionen.
Der Nettoertrag wuchs um 8,9% auf 463,8 Millionen RMB (66,1 Millionen US$), während das bereinigte Nettoeinkommen um 3,5% auf 738,9 Millionen RMB (105,3 Millionen US$) stieg. Das Unternehmen hielt eine starke Liquiditätsposition von 14.599,5 Millionen RMB (2.080,4 Millionen US$) und kündigte zwei Aktienrückkaufprogramme mit einem Gesamtwert von 350 Millionen US$ an. Für das vierte Quartal 2024 erwartet KANZHUN Einnahmen zwischen 1,795 und 1,81 Milliarden RMB, mit einer voraussichtlichen Wachstumsrate von 13,6-14,6% im Jahresvergleich.
- Revenue growth of 19.0% YoY to RMB1,911.6 million
- 22.4% increase in paid enterprise customers to 6.0 million
- 30.0% growth in monthly active users to 58.0 million
- Net income up 8.9% to RMB463.8 million
- Strong cash position of RMB14,599.5 million
- Two active share repurchase programs totaling US$350 million
- Slowing growth in adjusted net income (3.5% YoY)
- Challenging recruitment market environment noted by management
- Operating expenses increased 16.8% YoY
- Expected Q4 revenue growth (13.6-14.6%) shows deceleration from Q3
Insights
BEIJING, Dec. 11, 2024 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HKEX: 2076), a leading online recruitment platform in China, today announced its unaudited financial results for the quarter ended September 30, 2024.
Third Quarter 2024 Highlights
- Total paid enterprise customers1 in the twelve months ended September 30, 2024 were 6.0 million, an increase of
22.4% from 4.9 million in the twelve months ended September 30, 2023. - Average monthly active users (MAU)2 for the third quarter of 2024 were 58.0 million, an increase of
30.0% from 44.6 million for the same quarter of 2023. - Revenues for the third quarter of 2024 were RMB1,911.6 million (US
$272.4 million ), an increase of19.0% from RMB1,606.6 million for the same quarter of 2023. - Income from operations for the third quarter of 2024 was RMB330.2 million (US
$47.1 million ), an increase of26.5% from RMB261.0 million for the same quarter of 2023. Adjusted income from operations3 for the third quarter of 2024 was RMB605.3 million (US$86.2 million ), an increase of10.2% from RMB549.4 million for the same quarter of 2023. - Net income for the third quarter of 2024 was RMB463.8 million (US
$66.1 million ), an increase of8.9% from RMB425.7 million for the same quarter of 2023. Adjusted net income3 for the third quarter of 2024 was RMB738.9 million (US$105.3 million ), an increase of3.5% from RMB714.1 million for the same quarter of 2023.
Mr. Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, remarked, “While the overall recruitment market environment remained challenging in the third quarter, our strategical emphasis on key growth engines continue to yield positive results. Robust user growth, solid enterprise retention and stable ARPPU (average revenue per paying enterprise user), all attest the resilience of our business model in the face of headwinds and the sustainability of our monetization approach. Our unwavering commitment to shareholder returns, coupled with ongoing share repurchase efforts, underscores the management’s resolute confidence in the Company’s long-term growth trajectory.”
Mr. Phil Yu Zhang, Chief Financial Officer of the Company, elaborated, “We delivered solid sets of financial results in the third quarter with revenues up by
__________________
1 Paid enterprise customers are defined as enterprise users and company accounts from which we recognize revenues for our online recruitment services.
2 Monthly active users refer to the number of verified user accounts, including both job seekers and enterprise users, that logged on to our mobile application in a given month at least once.
3 It is a non-GAAP financial measure, excluding the impact of share-based compensation expenses. For more information about the non-GAAP financial measures, please see the section of “Non-GAAP Financial Measures.”
Third Quarter 2024 Financial Results
Revenues
Revenues were RMB1,911.6 million (US
- Revenues from online recruitment services to enterprise customers were RMB1,889.1 million (US
$269.2 million ) for the third quarter of 2024, representing an increase of18.7% from RMB1,591.5 million for the same quarter of 2023. This increase was mainly driven by the paid enterprise user growth. - Revenues from other services, which mainly comprise paid value-added services offered to job seekers, were RMB22.5 million (US
$3.2 million ) for the third quarter of 2024, representing an increase of49.0% from RMB15.1 million for the same quarter of 2023, mainly benefiting from expanded user base.
Operating cost and expenses
Total operating cost and expenses were RMB1,586.9 million (US
- Cost of revenues was RMB314.0 million (US
$44.7 million ) for the third quarter of 2024, representing an increase of17.4% from RMB267.5 million for the same quarter of 2023, primarily due to increases in server and bandwidth cost, payment processing cost and employee-related expenses. - Sales and marketing expenses were RMB522.3 million (US
$74.4 million ) for the third quarter of 2024, representing an increase of14.2% from RMB457.3 million for the same quarter of 2023, primarily due to increased advertising expenses mainly resulting from the marketing campaigns launched during the Paris 2024 Olympic Games and the UEFAEuro 202 4. - Research and development expenses were RMB464.2 million (US
$66.1 million ) for the third quarter of 2024, representing an increase of12.0% from RMB414.4 million for the same quarter of 2023, primarily due to increased investments in technology. - General and administrative expenses were RMB286.4 million (US
$40.8 million ) for the third quarter of 2024, representing an increase of30.5% from RMB219.4 million for the same quarter of 2023, primarily due to increased employee-related expenses.
Income from operations and adjusted income from operations
Income from operations was RMB330.2 million (US
Adjusted income from operations was RMB605.3 million (US
Net income and adjusted net income
Net income was RMB463.8 million (US
Adjusted net income was RMB738.9 million (US
Net income per American depositary share (“ADS”) and adjusted net income per ADS
Basic and diluted net income per ADS attributable to ordinary shareholders for the third quarter of 2024 were RMB1.06 (US
Adjusted basic and diluted net income per ADS attributable to ordinary shareholders3 for the third quarter of 2024 were RMB1.68 (US
Net cash provided by operating activities
Net cash provided by operating activities was RMB812.3 million (US
Cash position
Balance of cash and cash equivalents, short-term time deposits and short-term investments was RMB14,599.5 million (US
Share Repurchase Program
In August 2024, the Company’s board of directors authorized a new share repurchase program effective from August 29, 2024 for a 12-month period, under which the Company may repurchase up to US
Outlook
For the fourth quarter of 2024, the Company currently expects its total revenues to be between RMB1.795 billion and RMB1.81 billion, representing a year-on-year increase of
Conference Call Information
The Company will host a conference call at 7:00AM U.S. Eastern Time on Wednesday, December 11, 2024 (8:00PM Beijing Time on Wednesday, December 11, 2024) to discuss the financial results.
Participants are required to pre-register for the conference call at:
https://register.vevent.com/register/BI637f58180286482692b41611b0e8df0a
Upon registration, participants will receive an email containing participant dial-in numbers and unique personal PIN. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.zhipin.com.
Exchange Rate
This announcement contains translations of certain RMB amounts into U.S. dollar (“US$”) amounts at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the exchange rate of RMB7.0176 to US
Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP financial measures, such as adjusted income from operations, adjusted net income, adjusted net income attributable to ordinary shareholders, adjusted basic and diluted net income per ordinary share attributable to ordinary shareholders and adjusted basic and diluted net income per ADS attributable to ordinary shareholders as supplemental measures to review and assess operating performance. The Company defines these non-GAAP financial measures by excluding the impact of share-based compensation expenses, which are non-cash expenses, from the related GAAP financial measures. The Company believes that these non-GAAP financial measures help identify underlying trends in the business and facilitate investors’ assessment of the Company’s operating performance.
The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP information used by other companies. The non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for most directly comparable GAAP financial measures. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures has been provided in the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of The Stock Exchange of Hong Kong Limited, in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission and The Stock Exchange of Hong Kong Limited. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About KANZHUN LIMITED
KANZHUN LIMITED operates the leading online recruitment platform BOSS Zhipin in China. The Company connects job seekers and enterprise users in an efficient and seamless manner through its highly interactive mobile app, a transformative product that promotes two-way communication, focuses on intelligent recommendations, and creates new scenarios in the online recruiting process. Benefiting from its large and diverse user base, BOSS Zhipin has developed powerful network effects to deliver higher recruitment efficiency and drive rapid expansion.
For investor and media inquiries, please contact:
KANZHUN LIMITED
Investor Relations
Email: ir@kanzhun.com
PIACENTE FINANCIAL COMMUNICATIONS
Email: kanzhun@tpg-ir.com
| KANZHUN LIMITED Unaudited Condensed Consolidated Statements of Operations (All amounts in thousands, except share and per share data) | ||||||||||||||||||
| For the three months ended September 30, | For the nine months ended September 30, | |||||||||||||||||
| 2023 | 2024 | 2023 | 2024 | |||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||
| Revenues | ||||||||||||||||||
| Online recruitment services to enterprise customers | 1,591,500 | 1,889,102 | 269,195 | 4,322,379 | 5,465,912 | 778,886 | ||||||||||||
| Others | 15,136 | 22,473 | 3,202 | 49,418 | 66,159 | 9,428 | ||||||||||||
| Total revenues | 1,606,636 | 1,911,575 | 272,397 | 4,371,797 | 5,532,071 | 788,314 | ||||||||||||
| Operating cost and expenses | ||||||||||||||||||
| Cost of revenues(1) | (267,529 | ) | (314,026 | ) | (44,748 | ) | (785,015 | ) | (925,997 | ) | (131,954 | ) | ||||||
| Sales and marketing expenses(1) | (457,341 | ) | (522,268 | ) | (74,423 | ) | (1,557,772 | ) | (1,646,707 | ) | (234,654 | ) | ||||||
| Research and development expenses(1) | (414,429 | ) | (464,151 | ) | (66,141 | ) | (1,113,404 | ) | (1,375,449 | ) | (196,000 | ) | ||||||
| General and administrative expenses(1) | (219,428 | ) | (286,432 | ) | (40,816 | ) | (587,000 | ) | (818,114 | ) | (116,580 | ) | ||||||
| Total operating cost and expenses | (1,358,727 | ) | (1,586,877 | ) | (226,128 | ) | (4,043,191 | ) | (4,766,267 | ) | (679,188 | ) | ||||||
| Other operating income, net | 13,078 | 5,485 | 782 | 30,113 | 26,581 | 3,788 | ||||||||||||
| Income from operations | 260,987 | 330,183 | 47,051 | 358,719 | 792,385 | 112,914 | ||||||||||||
| Interest and investment income, net | 164,677 | 158,948 | 22,650 | 443,348 | 468,818 | 66,806 | ||||||||||||
| Foreign exchange (loss)/gain | (517 | ) | (29 | ) | (4 | ) | 2,291 | 64 | 9 | |||||||||
| Other income, net | 32,444 | 36,948 | 5,265 | 36,973 | 36,425 | 5,191 | ||||||||||||
| Income before income tax expenses | 457,591 | 526,050 | 74,962 | 841,331 | 1,297,692 | 184,920 | ||||||||||||
| Income tax expenses | (31,874 | ) | (62,223 | ) | (8,867 | ) | (73,354 | ) | (174,891 | ) | (24,922 | ) | ||||||
| Net income | 425,717 | 463,827 | 66,095 | 767,977 | 1,122,801 | 159,998 | ||||||||||||
| Net loss attributable to non-controlling interests | - | 4,545 | 648 | - | 12,255 | 1,746 | ||||||||||||
| Net income attributable to ordinary shareholders of KANZHUN LIMITED | 425,717 | 468,372 | 66,743 | 767,977 | 1,135,056 | 161,744 | ||||||||||||
| Weighted average number of ordinary shares used in computing net income per share | ||||||||||||||||||
| — Basic | 870,358,529 | 883,762,119 | 883,762,119 | 868,329,404 | 884,476,469 | 884,476,469 | ||||||||||||
| — Diluted | 899,718,677 | 906,841,729 | 906,841,729 | 902,411,551 | 912,733,094 | 912,733,094 | ||||||||||||
| Net income per ordinary share attributable to ordinary shareholders | ||||||||||||||||||
| — Basic | 0.49 | 0.53 | 0.08 | 0.88 | 1.28 | 0.18 | ||||||||||||
| — Diluted | 0.47 | 0.52 | 0.07 | 0.85 | 1.24 | 0.18 | ||||||||||||
| Net income per ADS(2) attributable to ordinary shareholders | ||||||||||||||||||
| — Basic | 0.98 | 1.06 | 0.15 | 1.77 | 2.57 | 0.37 | ||||||||||||
| — Diluted | 0.95 | 1.03 | 0.15 | 1.70 | 2.49 | 0.35 | ||||||||||||
(1) Include share-based compensation expenses as follows:
| For the three months ended September 30, | For the nine months ended September 30, | |||||||||||
| 2023 | 2024 | 2023 | 2024 | |||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||
| Cost of revenues | 12,016 | 10,836 | 1,544 | 34,978 | 33,252 | 4,738 | ||||||
| Sales and marketing expenses | 68,065 | 67,505 | 9,619 | 192,595 | 209,459 | 29,848 | ||||||
| Research and development expenses | 108,507 | 102,659 | 14,629 | 304,937 | 315,332 | 44,934 | ||||||
| General and administrative expenses | 99,780 | 94,067 | 13,404 | 227,051 | 307,444 | 43,810 | ||||||
| Total | 288,368 | 275,067 | 39,196 | 759,561 | 865,487 | 123,330 | ||||||
(2) Each ADS represents two Class A ordinary shares.
| KANZHUN LIMITED Unaudited Condensed Consolidated Balance Sheets (All amounts in thousands) | ||||||
| As of | ||||||
| December 31, 2023 | September 30, 2024 | |||||
| RMB | RMB | US$ | ||||
| ASSETS | ||||||
| Current assets | ||||||
| Cash and cash equivalents | 2,472,959 | 2,816,158 | 401,299 | |||
| Short-term time deposits | 6,922,803 | 5,757,701 | 820,466 | |||
| Short-term investments | 3,513,885 | 6,025,604 | 858,642 | |||
| Accounts receivable, net | 16,727 | 29,124 | 4,150 | |||
| Inventories | - | 2,865 | 408 | |||
| Amounts due from related parties | 3,966 | 9,061 | 1,291 | |||
| Prepayments and other current assets | 442,697 | 506,602 | 72,190 | |||
| Total current assets | 13,373,037 | 15,147,115 | 2,158,446 | |||
| Non-current assets | ||||||
| Property, equipment and software, net | 1,793,488 | 1,804,596 | 257,153 | |||
| Intangible assets, net | 8,093 | 261,677 | 37,289 | |||
| Goodwill | 5,690 | 6,528 | 930 | |||
| Right-of-use assets, net | 282,612 | 357,728 | 50,976 | |||
| Long-term investments | 2,473,128 | 1,235,774 | 176,096 | |||
| Other non-current assets | 4,000 | - | - | |||
| Total non-current assets | 4,567,011 | 3,666,303 | 522,444 | |||
| Total assets | 17,940,048 | 18,813,418 | 2,680,890 | |||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Current liabilities | ||||||
| Accounts payable | 629,216 | 81,438 | 11,605 | |||
| Deferred revenue | 2,794,075 | 3,071,565 | 437,695 | |||
| Other payables and accrued liabilities | 779,046 | 644,624 | 91,858 | |||
| Operating lease liabilities, current | 155,014 | 192,097 | 27,374 | |||
| Total current liabilities | 4,357,351 | 3,989,724 | 568,532 | |||
| Non-current liabilities | ||||||
| Operating lease liabilities, non-current | 125,079 | 166,451 | 23,719 | |||
| Deferred tax liabilities | 28,425 | 23,490 | 3,347 | |||
| Total non-current liabilities | 153,504 | 189,941 | 27,066 | |||
| Total liabilities | 4,510,855 | 4,179,665 | 595,598 | |||
| Total shareholders’ equity | 13,429,193 | 14,633,753 | 2,085,292 | |||
| Total liabilities and shareholders’ equity | 17,940,048 | 18,813,418 | 2,680,890 | |||
| KANZHUN LIMITED Unaudited Condensed Consolidated Statements of Cash Flows (All amounts in thousands) | ||||||||||||||||||
| For the three months ended September 30, | For the nine months ended September 30, | |||||||||||||||||
| 2023 | 2024 | 2023 | 2024 | |||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||
| Net cash provided by operating activities | 812,554 | 812,290 | 115,750 | 2,120,172 | 2,586,387 | 368,557 | ||||||||||||
| Net cash used in investing activities | (1,058,781 | ) | (698,000 | ) | (99,464 | ) | (9,449,149 | ) | (1,293,771 | ) | (184,361 | ) | ||||||
| Net cash (used in)/provided by financing activities | (43,826 | ) | (753,763 | ) | (107,410 | ) | 25,129 | (940,188 | ) | (133,976 | ) | |||||||
| Effect of exchange rate changes on cash and cash equivalents | (6,096 | ) | (16,759 | ) | (2,389 | ) | (3,356 | ) | (9,229 | ) | (1,315 | ) | ||||||
| Net (decrease)/increase in cash and cash equivalents | (296,149 | ) | (656,232 | ) | (93,513 | ) | (7,307,204 | ) | 343,199 | 48,905 | ||||||||
| Cash and cash equivalents at beginning of the period | 2,740,769 | 3,472,390 | 494,812 | 9,751,824 | 2,472,959 | 352,394 | ||||||||||||
| Cash and cash equivalents at end of the period | 2,444,620 | 2,816,158 | 401,299 | 2,444,620 | 2,816,158 | 401,299 | ||||||||||||
| KANZHUN LIMITED Unaudited Reconciliation of GAAP and Non-GAAP Results (All amounts in thousands, except share and per share data) | ||||||||||||
| For the three months ended September 30, | For the nine months ended September 30, | |||||||||||
| 2023 | 2024 | 2023 | 2024 | |||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||
| Income from operations | 260,987 | 330,183 | 47,051 | 358,719 | 792,385 | 112,914 | ||||||
| Add: Share-based compensation expenses | 288,368 | 275,067 | 39,196 | 759,561 | 865,487 | 123,330 | ||||||
| Adjusted income from operations | 549,355 | 605,250 | 86,247 | 1,118,280 | 1,657,872 | 236,244 | ||||||
| Net income | 425,717 | 463,827 | 66,095 | 767,977 | 1,122,801 | 159,998 | ||||||
| Add: Share-based compensation expenses | 288,368 | 275,067 | 39,196 | 759,561 | 865,487 | 123,330 | ||||||
| Adjusted net income | 714,085 | 738,894 | 105,291 | 1,527,538 | 1,988,288 | 283,328 | ||||||
| Net income attributable to ordinary shareholders of KANZHUN LIMITED | 425,717 | 468,372 | 66,743 | 767,977 | 1,135,056 | 161,744 | ||||||
| Add: Share-based compensation expenses | 288,368 | 275,067 | 39,196 | 759,561 | 865,487 | 123,330 | ||||||
| Adjusted net income attributable to ordinary shareholders of KANZHUN LIMITED | 714,085 | 743,439 | 105,939 | 1,527,538 | 2,000,543 | 285,074 | ||||||
| Weighted average number of ordinary shares used in computing adjusted net income per share (Non-GAAP) | ||||||||||||
| — Basic | 870,358,529 | 883,762,119 | 883,762,119 | 868,329,404 | 884,476,469 | 884,476,469 | ||||||
| — Diluted | 899,718,677 | 906,841,729 | 906,841,729 | 902,411,551 | 912,733,094 | 912,733,094 | ||||||
| Adjusted net income per ordinary share attributable to ordinary shareholders | ||||||||||||
| — Basic | 0.82 | 0.84 | 0.12 | 1.76 | 2.26 | 0.32 | ||||||
| — Diluted | 0.79 | 0.82 | 0.12 | 1.69 | 2.19 | 0.31 | ||||||
| Adjusted net income per ADS attributable to ordinary shareholders | ||||||||||||
| — Basic | 1.64 | 1.68 | 0.24 | 3.52 | 4.52 | 0.64 | ||||||
| — Diluted | 1.59 | 1.64 | 0.23 | 3.39 | 4.38 | 0.62 | ||||||
FAQ
What was KANZHUN's (BZ) revenue growth in Q3 2024?
How many paid enterprise customers does BZ have as of Q3 2024?
What is BZ's Q4 2024 revenue guidance?
How much cash does KANZHUN (BZ) have as of Q3 2024?
What is the total value of BZ's current share repurchase programs?
