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Mar 31, 2023
ZipRecruiter Q1 2023 Earnings Report
ZipRecruiter's revenue declined due to a challenging industry backdrop, but Adjusted EBITDA exceeded expectations.
Key Takeaways
ZipRecruiter reported a 19% year-over-year decrease in quarterly revenue, totaling $183.7 million. Net income was $5.0 million, representing a 3% net income margin. Adjusted EBITDA reached $35.3 million, with an Adjusted EBITDA margin of 19%. The company also announced a $100 million increase to its share repurchase program authorization.
Revenue for the quarter was $183.7 million, a 19% decrease year-over-year.
Net income was $5.0 million, resulting in a net income margin of 3%.
Adjusted EBITDA was $35.3 million, with an Adjusted EBITDA margin of 19%.
The company increased its share repurchase program authorization by $100 million.
ZipRecruiter
ZipRecruiter
Forward Guidance
The company maintains its full year Adjusted EBITDA guidance of $185 million at the midpoint, despite a softening in online job postings.
Positive Outlook
- Company is able to maintain full year Adjusted EBITDA guidance.
- The company has a nimble business model.
- The company has a strong brand.
- The company has strong technology.
- The company has a strong financial model.
Challenges Ahead
- Macroeconomic environment remains highly uncertain.
- Online job postings have softened further in 2023.