ZipRecruiter Announces Second Quarter 2024 Results
ZipRecruiter (NYSE: ZIP) reported its Q2 2024 financial results, showcasing resilience amid a prolonged labor market downturn. The company achieved quarterly revenue of $123.7 million, with a net income of $7.0 million (6% margin) and Adjusted EBITDA of $27.8 million (23% margin). CEO Ian Siegel emphasized the company's flexible financial model and ongoing investments in product and technology initiatives. Despite market challenges, ZipRecruiter continues to gain job seeker traffic and drive product innovations. The company remains confident in its ability to disrupt the recruitment industry and transform employer-job seeker interactions in the coming years.
ZipRecruiter (NYSE: ZIP) ha riportato i risultati finanziari del Q2 2024, mostrando resilienza in un prolungato periodo di difficoltà del mercato del lavoro. L'azienda ha registrato entrate trimestrali di 123,7 milioni di dollari, con un utile netto di 7,0 milioni di dollari (margine del 6%) e un EBITDA aggiustato di 27,8 milioni di dollari (margine del 23%). Il CEO Ian Siegel ha sottolineato il modello finanziario flessibile dell'azienda e gli investimenti in corso in iniziative di prodotto e tecnologia. Nonostante le sfide di mercato, ZipRecruiter continua a guadagnare traffico di cercatori di lavoro e a promuovere innovazioni nei prodotti. L'azienda rimane fiduciosa nella sua capacità di disruptare l'industria del reclutamento e trasformare le interazioni tra datori di lavoro e cercatori di lavoro nei prossimi anni.
ZipRecruiter (NYSE: ZIP) informó sus resultados financieros del Q2 2024, mostrando resiliencia en medio de una prolongada recesión del mercado laboral. La compañía logró ingresos trimestrales de 123,7 millones de dólares, con un ingreso neto de 7,0 millones de dólares (margen del 6%) y un EBITDA ajustado de 27,8 millones de dólares (margen del 23%). El CEO Ian Siegel destacó el modelo financiero flexible de la empresa y las inversiones continuas en iniciativas de productos y tecnología. A pesar de los desafíos del mercado, ZipRecruiter sigue incrementando el tráfico de solicitantes de empleo y fomentando innovaciones en sus productos. La empresa mantiene confianza en su capacidad para perturbar la industria del reclutamiento y transformar las interacciones entre empleadores y buscadores de empleo en los próximos años.
ZipRecruiter (NYSE: ZIP)는 2024년 2분기 재무 결과를 발표하며, 장기적인 노동 시장 침체 속에서도 회복력을 보여주었습니다. 회사는 분기별 수익 1억 2,370만 달러를 달성했으며, 순이익 700만 달러 (6% 마진)과 조정된 EBITDA 2,780만 달러 (23% 마진)를 기록했습니다. CEO Ian Siegel은 회사의 유연한 재무 모델과 제품 및 기술 이니셔티브에 대한 지속적인 투자를 강조했습니다. 시장의 도전에도 불구하고 ZipRecruiter는 구직자 트래픽을 계속 증가시키고 제품 혁신을 추진하고 있습니다. 회사는 향후 몇 년간 채용 산업을 혁신하고 고용주와 구직자 간의 상호작용을 변화시킬 수 있는 능력에 대한 자신감을 유지하고 있습니다.
ZipRecruiter (NYSE: ZIP) a annoncé ses résultats financiers du T2 2024, montrant une résilience au milieu d'un long ralentissement du marché du travail. L'entreprise a réalisé des revenus trimestriels de 123,7 millions de dollars, avec un bénéfice net de 7,0 millions de dollars (marge de 6%) et un EBITDA ajusté de 27,8 millions de dollars (marge de 23%). Le PDG Ian Siegel a souligné le modèle financier flexible de la société et les investissements en cours dans les initiatives de produits et de technologie. Malgré les défis du marché, ZipRecruiter continue d'attirer le trafic des chercheurs d'emploi et d'encourager les innovations de produit. L'entreprise reste confiante dans sa capacité à perturber l'industrie du recrutement et à transformer les interactions entre employeurs et chercheurs d'emploi dans les années à venir.
ZipRecruiter (NYSE: ZIP) hat seine finanziellen Ergebnisse für das Q2 2024 bekannt gegeben und dabei Resilienz inmitten eines langfristigen Rückgangs des Arbeitsmarktes gezeigt. Das Unternehmen erzielte Vierteljahreseinnahmen von 123,7 Millionen Dollar, mit einem Nettogewinn von 7,0 Millionen Dollar (6% Marge) und einem bereinigten EBITDA von 27,8 Millionen Dollar (23% Marge). CEO Ian Siegel betonte das flexible Finanzmodell des Unternehmens und die fortlaufenden Investitionen in Produkt- und Technologieinitiativen. Trotz der Herausforderungen des Marktes gewinnt ZipRecruiter weiterhin den Traffic von Jobsuchenden und treibt Produktinnovationen voran. Das Unternehmen bleibt zuversichtlich in seiner Fähigkeit, die Recruiting-Branche zu disruptieren und die Interaktionen zwischen Arbeitgebern und Jobsuchenden in den kommenden Jahren zu transformieren.
- Quarterly revenue of $123.7 million
- Net income of $7.0 million with a 6% margin
- Adjusted EBITDA of $27.8 million with a 23% margin
- Continued investment in product and technology initiatives
- Increasing job seeker traffic
- Prolonged labor market downturn affecting business environment
Insights
ZipRecruiter's Q2 2024 results show resilience in a challenging labor market. With
The CEO's focus on product and technology investments signals a long-term strategy to capture market share. This approach could position ZipRecruiter favorably when the labor market recovers, but may pressure near-term margins. Investors should monitor the balance between growth investments and profitability in upcoming quarters.
ZipRecruiter's performance amidst a "prolonged labor market downturn" is noteworthy. The company's ability to maintain profitability and invest in future growth suggests a robust business model. The emphasis on winning job seeker traffic indicates a focus on platform liquidity, important for marketplace businesses.
The CEO's statement about "fundamentally changing how employers and job seekers interact" hints at potential disruptive innovations. This could be a key differentiator in the competitive online recruitment space. Investors should watch for concrete details on these product innovations and their market reception in future reports.
Quarterly revenue of
Quarterly net income of
Quarterly Adjusted EBITDA of
“ZipRecruiter’s flexible financial model has allowed us to maintain a robust balance sheet during this prolonged labor market downturn. We're continuing to invest in product and technology initiatives, which we believe will bear significant fruit in years to come,” said Ian Siegel, CEO of ZipRecruiter. “The current business is incredibly exciting, as we continue to win job seeker traffic and are energized by our product innovations. We have strong conviction that ZipRecruiter will further disrupt the recruitment industry in the coming years, fundamentally changing how employers and job seekers interact.”
Conference Call Details
ZipRecruiter will host a conference call today, August 7, 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 (888) 440-4199, or +1 (646) 960-0818 for callers outside
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding returns on investment and disrupting the recruitment industry, 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. 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 compete with well-established competitors and new entrants; our ability to achieve and/or maintain profitability; our ability to maintain, protect and enhance our brand and intellectual property; 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 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
Non-GAAP Financial Measures
This release includes certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EBITDA margin.
We define Adjusted EBITDA as our net income (loss) before interest expense, other income (expense), net, income tax expense (benefit) and depreciation and amortization, adjusted to eliminate stock-based compensation expense. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenue for the same period.
Management and our board of directors use these non-GAAP financial measures as supplemental measures of our performance because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of some items not directly resulting from our core operations. We also use these non-GAAP financial measures for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives and to evaluate our capacity for capital expenditures to expand our business.
Adjusted EBITDA and Adjusted EBITDA margin should not be considered in isolation, as an alternative to, or superior to net income (loss), revenue, cash flows or other measures derived in accordance with GAAP. These non-GAAP measures are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Management believes that the presentation of non-GAAP financial measures is an appropriate measure of operating performance because they eliminate the impact of some expenses that do not relate directly to the performance of our underlying business.
These non-GAAP financial measures should not be construed as an inference that our future results will be unaffected by unusual or other items. Additionally, Adjusted EBITDA and Adjusted EBITDA margin are not intended to be a measure of free cash flow for management’s discretionary use, as they do not reflect our tax payments and certain other cash costs that may recur in the future, including, among other things, cash requirements for costs to replace assets being depreciated and amortized. Management compensates for these limitations by relying on our GAAP results in addition to using Adjusted EBITDA and Adjusted EBITDA margin as supplemental measures of our performance. Our measures of Adjusted EBITDA and Adjusted EBITDA margin used herein are not necessarily comparable to similarly titled captions of other companies due to different methods of calculation.
RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA (UNAUDITED)
(in thousands, except Adjusted EBITDA margin data)
|
Quarter Ended June 30, |
|
2024 |
GAAP net income |
|
Stock-based compensation |
15,589 |
Depreciation and amortization |
2,837 |
Interest expense |
7,361 |
Other (income) expense, net |
(5,599) |
Income tax expense |
647 |
Adjusted EBITDA |
|
Adjusted EBITDA margin |
|
About ZipRecruiter
ZipRecruiter® (NYSE:ZIP) 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 seven years1 and is rated the #1 employment job site by G2.2 For more information, visit www.ziprecruiter.com.
1 Based on job seeker app ratings, during the period of January 2017 to January 2024 from AppFollow for ZipRecruiter, CareerBuilder, Glassdoor, Indeed, LinkedIn, and Monster.
2 Based on G2 satisfaction ratings as of December 18, 2023.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806184241/en/
Investors:
Drew Haroldson
The Blueshirt Group, for ZipRecruiter
ir@ziprecruiter.com
Corporate Communications:
Claire Walsh
Press Relations
press@ziprecruiter.com
Source: ZipRecruiter, Inc.
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