In a recent announcement, leading online employment marketplace ZipRecruiter unveiled its financial performance for the second quarter of 2023.
Quarterly revenue $170.4 million, down 29% y/y
Net income of $14.4 million, or net income margin of 8%
Adjusted EBITDA of $43.3 million, or Adjusted EBITDA margin of 25%
“Against a challenging macroeconomic backdrop, ZipRecruiter was able to deliver $14 million of net income and $43 million of Adjusted EBITDA in the second quarter of 2023,” said Ian Siegel, CEO of ZipRecruiter. “The number of job openings and employers’ willingness to pay for those job openings has been declining significantly from the peaks of prior years. Despite this dynamic we remain focused on creating new and better ways for employers and job seekers to connect to their next great opportunity. We believe our technology innovation and investments, coupled with ZipRecruiter’s substantial brand awareness and strong balance sheet, are delivering great experiences to job seekers and setting us up for success when employers’ appetite for hiring recovers.”