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Jun 30, 2024
Vimeo Q2 2024 Earnings Report
Vimeo's Q2 2024 performance showed resilience with revenue growth and increased profitability, driven by Vimeo Enterprise and efficient cost management.
Key Takeaways
Vimeo's Q2 2024 results demonstrated resilience with 2% year-over-year revenue growth, led by a 55% increase in Vimeo Enterprise revenue. The company reported net income of $10 million, adjusted EBITDA of $16 million, and free cash flow of $20 million. They also repurchased $16 million worth of shares.
Revenue grew by 2% year-over-year, driven by Vimeo Enterprise.
Vimeo Enterprise revenue increased by 55% year-over-year.
Net income reached $10 million, with adjusted EBITDA at $16 million and free cash flow at $20 million.
The company repurchased $16 million of its shares.
Revenue by Segment
Forward Guidance
For Q3 2024, revenue is expected to be at or below $100 million. Operating loss is expected to be approximately $1 million, and adjusted EBITDA is expected to be in the high single-digit millions of dollars. For the full year 2024, revenue is expected to be around $405 million, operating income approximately $3 million, and adjusted EBITDA in the range of $40 million.
Positive Outlook
- Revenue to be at or around $405 million for the full year 2024.
- Operating income to be approximately $3 million for the full year 2024.
- Adjusted EBITDA to be in the range of $40 million for the full year 2024.
- Adjusted EBITDA to be in the high single-digit millions of dollars for Q3 2024.
- Share repurchase authorization to reduce dilution from share issuance.
Challenges Ahead
- Revenue to be at or below $100 million for Q3 2024.
- Operating loss to be approximately $1 million for Q3 2024.
- Adjusted EBITDA level depends on the timing of investment spending.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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