SANTA MONICA, Calif. —- ZipRecruiter®, a leading online employment marketplace, today announced financial results for the quarter ended September 30, 2022. ZipRecruiter’s complete third quarter 2022 results, financial guidance, and management commentary can be found by accessing ZipRecruiter’s shareholder letter on the quarterly results page of the Investor Relations website at investors.ziprecruiter.com.
- Quarterly revenue $227.0 million, up 7% y/y
- Company raises revenue guidance to $897M – $903M, or 21% YoY Growth
- Company raises Adjusted EBITDA guidance to $173M – $179M, or 20% margin
- Company announces $200 million increase to share repurchase program authorization
“ZipRecruiter delivered another strong quarter of growth and profitability in Q3 2022, performing ahead of our expectations. Even amidst a volatile jobs environment we were able to deliver Adjusted EBITDA margin expansion due to the strength of our business model and disciplined investment strategy,” said Ian Siegel, CEO of ZipRecruiter. “ZipRecruiter has proven that we can thrive in a wide range of macroeconomic conditions and we believe we are still in the early stages of our growth. With a robust balance sheet and continued long-term investments in our product and matching technology, we believe we are well positioned to capitalize on a massive market opportunity by serving the needs of both job seekers and employers across all sectors of the US economy,” said Mr. Siegel.Ian Siegel
Additionally, the company announced that its Board of Directors has authorized a $200 million increase to its share repurchase program under which ZipRecruiter may repurchase shares of its outstanding common stock.
Conference Call Details
ZipRecruiter will host a conference call today, November 9, 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 An archived version will be available on the website two hours after the completion of the call until Wednesday, November 16, 2022. Investors and analysts can participate in the conference call by dialing +1 (888) 440-4199, or +1 (646) 960-0818 for callers outside the United States, and mention the passcode, “ZipRecruiter” or by referencing conference ID “9351892”. To listen to the telephonic replay please dial +1 (800) 770-2030 or +1 (647) 362-9199 for callers outside the United States and enter replay code “9351892”.