ZipRecruiter Announces Second Quarter 2021 Results

Rhea-AI Summary

ZipRecruiter announced its financial results for Q2 2021, marking its first quarter as a public company with record revenue. The company highlighted high marketplace activity, aiming to facilitate job growth as the economy reopens. CEO Ian Siegel expressed optimism about their growth trajectory and future opportunities. The company will host a conference call on August 12 to discuss results further, with details available on their investor relations website.

Positive

• Record revenue reported for Q2 2021.
• High levels of activity observed on both sides of the marketplace.
• Strong financial guidance for robust growth in 2021.

Negative

• Dependence on macroeconomic factors which could impact demand for services.
• Potential risks from compliance with data privacy regulations.
• Concerns over platform security and data protection.

ZipRecruiter®, a leading online employment marketplace, today announced financial results for the quarter ended June 30, 2021. ZipRecruiter’s complete second quarter financial results, financial guidance and management commentary can be found by accessing the Company’s shareholder letter on the quarterly results page of the investor relations website at investors.ziprecruiter.com.

“ZipRecruiter delivered record revenue in Q2, our first quarter as a public company. We are seeing high levels of activity on both sides of our marketplace and ZipRecruiter is helping America get back to work by actively connecting people to their next great opportunity. Our guidance calls for robust growth in 2021 and we believe that we are still in the very early stages of our long-term growth opportunity,” said Ian Siegel, CEO of ZipRecruiter.

Conference Call Details

ZipRecruiter will host a conference call today, August 12 at 2:00 p.m. Pacific Time to discuss its financial results. A live webcast of the call can be accessed from ZipRecruiter’s Investor Relations website at investors.ziprecruiter.com. An archived version will be available on the website two hours after the completion of the call. Investors and analysts can participate in the conference call by dialing +1 (833) 979-2842, or +1 (236) 714-2904 for callers outside the United States, and mention the passcode, “ZipRecruiter” or by referencing conference ID "5938228”. A telephonic replay of the conference call will be available until Thursday, August 19, 2021, beginning two hours after the end of the conference call. To listen to the replay please dial +1 (800) 585-8367 or +1 (416) 621-4642 for callers outside the United States and enter replay code “5938228”.

Forward Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the timing for expected trading of its Class A common stock, ZipRecruiter’s beliefs regarding job growth during a once-in-a-lifetime reopening of the economy, ZipRecruiter’s positioning to take advantage of such opportunity, the belief that ZipRecruiter can help get people back to work, and the early stages of growth opportunity, and other statements that reflect ZipRecruiter’s current expectations and projections with respect to, among other things, its financial condition, results of operations, plans, objectives, future performance, and business. These statements may be preceded by, followed by or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "outlook," "plan," "potential," "project," "projection," "seek," "can," "could," "may," "should," "would," "will," the negatives thereof and other words and terms of similar meaning. Forward-looking statements include all statements that are not historical facts. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements, including our ability to attract and retain employers and job seekers; our ability to achieve profitability; our ability to maintain and enhance our brand; our dependence on macroeconomic factors; our ability to maintain and improve the quality of our platform; our dependence on the interoperability of our platform with mobile operating systems that we do not control; our ability to successfully implement our business plan during a global economic downturn caused by COVID-19 pandemic that may impact the demand for our services or have a material adverse impact on our and our business partners’ financial condition and results of operations; our ability and the ability of third parties to protect our users’ personal or other data from a security breach and to comply with laws and regulations relating to consumer data privacy and data protection; our ability to detect errors, defects or disruptions in our platform; our ability to comply with the terms of underlying licenses of open source software components on our platform; our ability to expand into markets outside the United States; our ability to achieve desired operating margins; our compliance with a wide variety of U.S. and international laws and regulations; our ability to protect our intellectual property rights and to successfully halt the operations of copycat websites or misappropriation of data; our reliance on Amazon Web Services; our ability to mitigate payment and fraud risks; our dependence on relationships with payment partners, banks and disbursement partners; our dependence on our senior management and our ability to attract new talent; and the other important factors discussed under the caption “Risk Factors” in our Registration Statement on Form S-1/A on April 30, 2021 with the U.S. Securities and Exchange Commission (“SEC”) and our Quarterly Report on Form 10-Q for the three and six months ended June 30, 2021 that we will file with the SEC. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. ZipRecruiter does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise.

ABOUT ZIPRECRUITER

ZipRecruiter® (www.ziprecruiter.com) is a leading online employment marketplace that actively connects people to their next great opportunity. ZipRecruiter’s powerful matching technology improves the job search experience for job seekers and helps businesses of all sizes find and hire the right candidates quickly. ZipRecruiter has been the #1 rated job search app on iOS & Android for the past four years¹ and is rated the #1 employment marketplace by G2.²

¹ Based on ratings information for the Google Play Store and Apple App Store from the AppFollow platform, during the period of March 2017 to Feb 2021 for the job seeker apps of ZipRecruiter, CareerBuilder, Craigslist, Glassdoor, Indeed, LinkedIn, and Monster.

² Based on G2 satisfaction ratings as set forth in G2, Best Job Boards Software, https://www.g2.com/categories/job-boards?utf8=%E2%9C%93&order=top_shelf (last visited January 25, 2021).

View source version on businesswire.com: https://www.businesswire.com/news/home/20210812005720/en/

FAQ

What were ZipRecruiter's Q2 2021 financial results?

ZipRecruiter reported record revenue for Q2 2021, its first quarter as a public company.

When will ZipRecruiter discuss its financial results?

ZipRecruiter will host a conference call on August 12, 2021, at 2:00 p.m. Pacific Time.

What is ZipRecruiter's growth outlook for 2021?

ZipRecruiter has provided strong financial guidance, expecting robust growth throughout 2021.

How is ZipRecruiter helping the job market during the economic reopening?

The company is actively connecting job seekers with opportunities, aiding in job growth as the economy reopens.