NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Vimeo (NASDAQ: VMEO), the world’s most innovative video experience platform, today announced the launch of its groundbreaking app for Apple Vision Pro. This immersive app brings viewers into the content and empowers Vision Pro users to view, upload, and share their spatial videos with others to enjoy. The free app is now available to download on the visionOS App Store. With its ability to add remarkable depth and dimension to a scene, spatial video delivers an inn ...

NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Vimeo, Inc. (NASDAQ: VMEO) today announced the date for its third quarter 2024 earnings report and earnings video event. After the close of market trading on Monday, November 4, 2024, Vimeo will post its third quarter results on the Investor Relations section of its website at https://www.vimeo.com/investors. On Monday, November 4, 2024 at 5:00 p.m. ET, Vimeo will live stream a video conference to answer questions regarding its third quarter results. The live stre ...

Vimeo (NASDAQ: VMEO ) is growing its enterprise video segment at 55% CAGR and is on track to achieve $100 million annualized run rate this year. The company is also improving its profitability with 78% gross marginAt Miletus Research, we specialize in analyzing technology companies, exploring the nuances of their strategies in depth. Our team of experienced researchers merges cutting-edge market analytics with strategic expertise, empowering you with actionable insights that drive informed investments.Analy ...

Investors might want to bet on Vimeo, Inc. (VMEO) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Individual inv ...

NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Vimeo (NASDAQ: VMEO), the world's most innovative video experience platform for creators and enterprises, today appointed Charlie Ungashick as Chief Marketing Officer. Ungashick, who has supported the brand as interim CMO since January 2024, will oversee the brand's comprehensive marketing efforts across the consumer and commercial channels as Vimeo integrates leading-edge AI capabilities to deliver value for businesses, creators and video professionals globally. ...

Technology companies can often have short lives, especially smaller players that are competing against much larger incumbents. Though investors should be focusing on value plays amid rich S&P 500 multiples, I also don't recommend catching falling knives among fallen growth stars that don't With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes s ...

NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Vimeo (NASDAQ: VMEO), the world's most innovative video experience platform for creators and enterprises, today announced the appointment of technology veteran Robert ("Bob") Petrocelli as Chief Product & Technology Officer, effective September 9, 2024. Bob will be responsible for leading Vimeo's global product and engineering teams as the company continues to propel technology innovation, deliver high-quality video experiences, and maximize customer value for bu ...

Vimeo, Inc. (NASDAQ:VMEO) Q2 2024 Results Conference Call August 5, 2024 5:00 PM ET Company Participants Philip Moyer - CEO Gillian Munson - CFO Conference Call Participants Youssef Squali - Truist Tom Champion - Piper Sandler Will Kerr - TD Cowen Operator Hello, and thank you for joining Vimeo's Q2 2024 earnings live Q&A. Before we begin, a few comments. First, this session will be recorded and available on the Vimeo Investor Relations site later today. Second, we will discuss Vimeo's outlook and future pe ...

Revenue Performance - Total revenue for the three months ended June 30, 2024, increased by $2.5 million, or 2%, to $104.4 million, driven by a 55% increase in Vimeo Enterprise revenue [96]. - Vimeo Enterprise revenue reached $20.1 million for the three months ended June 30, 2024, up from $12.9 million in the same period last year, marking a 55% increase [97]. - Average Subscribers for Vimeo Enterprise increased by 40% year-over-year, contributing to the revenue growth [98]. - Average Revenue per User (ARPU) for Vimeo Enterprise rose by 12% to $21,977 for the three months ended June 30, 2024 [96]. - Self-Serve & Add-Ons revenue decreased by 3% to $68.6 million, primarily due to a 9% decline in Average Subscribers [97]. - Bookings for Self-Serve & Add-Ons totaled $67.9 million, down 9% from $74.8 million in the prior year [96]. - Other revenue segment saw a 13% decline to $15.8 million, attributed to the active deprecation of several products [98]. Profitability Metrics - Gross profit margin remained stable at 78% for both the three and six months ended June 30, 2024 [96]. - Operating income improved to 7% of revenue for the three months ended June 30, 2024, compared to 5% in the same period last year [96]. - Net earnings for the three months ended June 30, 2024, were 10% of revenue, up from 6% in the prior year [96]. - Gross profit increased by $2.7 million, or 3%, for the three months ended June 30, 2024, driven by an increase in revenue [102]. - Operating income increased by $2.9 million, or 62%, for the three months ended June 30, 2024, due to an increase in gross profit and a decrease in operating expenses [108]. - Adjusted EBITDA increased by $11.3 million, or 225%, for the three months ended June 30, 2024, primarily due to higher revenue and decreases in advertising costs [113]. - Net earnings for Q2 2024 were $10.1 million, up from $5.9 million in Q2 2023, representing a 72% increase [118]. - Adjusted EBITDA for Q2 2024 was $16.3 million, compared to $5.0 million in Q2 2023, reflecting a 226% year-over-year growth [118]. Expenses and Investments - Research and development expense increased by $0.3 million, or 1%, for the three months ended June 30, 2024, due to increased investment in products [103]. - Sales and marketing expense decreased by $12.1 million, or 30%, for the three months ended June 30, 2024, primarily due to reduced advertising costs [104]. - General and administrative expense increased by $12.1 million, or 175%, for the three months ended June 30, 2024, driven by an increase in stock-based compensation expense [105]. - Total operating expenses decreased by $0.2 million, or less than 1%, for the three months ended June 30, 2024 [103]. - Stock-based compensation expense for the first half of 2024 was $15.4 million, contributing to adjustments in net earnings [126]. Cash Flow and Financial Position - Cash and cash equivalents totaled $310.6 million as of June 30, 2024, an increase from $301.4 million at the end of 2023 [124]. - Net cash provided by operating activities for the first half of 2024 was $25.3 million, significantly higher than $11.2 million in the same period of 2023 [125]. - The company repurchased 3.0 million shares at an average cost of $3.88 per share, totaling $11.8 million during the first half of 2024 [129]. - The company had no debt as of June 30, 2024, indicating a strong financial position [131]. Other Considerations - Interest income increased by $0.8 million, or 26%, for the three months ended June 30, 2024, due to larger money market fund balances and higher interest rates [110]. - Income tax provision increased by $0.4 million, or 56%, for the three months ended June 30, 2024, as a result of higher pre-tax income [112]. - The company anticipates potential additional costs related to a non-cancellable cloud computing arrangement expiring in Q4 2024 [131]. - Vimeo's liquidity may be impacted by decreased demand for products and services or unexpected expenses, necessitating potential future capital raises [131]. - Total cash used in investing activities was $0.2 million, primarily for capital expenditures [126]. - The information regarding legal proceedings is referenced from "Note 9—Contingencies" in the consolidated financial statements [139].

Financial Performance - Vimeo's Q2 revenue grew 2% year-over-year to $104 million, with Vimeo Enterprise revenue increasing by 55% in the same period[3] - The company generated a net income of $10 million and an adjusted EBITDA of $16 million, reflecting increases of 40% and 225% year-over-year, respectively[22] - Cash from operations was $20 million, and free cash flow also amounted to $20 million, up 55% year-over-year[23] - Vimeo ended Q2 with $311 million in cash and cash equivalents, an increase of $6 million from the previous quarter[23] - The gross margin for Q2 was 78%, with both GAAP and non-GAAP gross profit margins improving year-over-year[16] - For the full year 2024, the company expects revenue to be around $405 million and operating income to be approximately $3 million[24] - For Q3 2024, the company anticipates revenue to be at or below $100 million with an operating loss of approximately $1 million[24] - In Q2 2024, the company reported revenue of $104.376 million, a 2.4% increase from $101.835 million in Q2 2023[24] - Gross profit for Q2 2024 was $81.698 million, compared to $78.990 million in Q2 2023, reflecting a gross margin improvement[24] - Net earnings for Q2 2024 were $10.121 million, compared to $5.871 million in Q2 2023, representing a 72% year-over-year increase[24] - The company reported total assets of $626.293 million as of June 30, 2024, up from $622.920 million at the end of 2023[25] - Cash and cash equivalents increased to $310.579 million as of June 30, 2024, compared to $301.372 million at the end of 2023[25] - The company’s total shareholders' equity rose to $397.892 million as of June 30, 2024, from $382.232 million at the end of 2023[25] - Adjusted EBITDA for Q2 2024 was $16.3 million, significantly up from $5.0 million in Q2 2023, resulting in an Adjusted EBITDA margin of 16%[29] - Free Cash Flow for Q2 2024 was $20.3 million, compared to $13.1 million in Q2 2023, indicating improved cash generation[29] - GAAP net earnings for Q2 2024 were $10.1 million, compared to $5.9 million in Q2 2023, showing a positive trend in profitability[29] Shareholder Actions - The company repurchased approximately 4 million shares for $16 million since the last earnings announcement, with $34 million remaining in the share repurchase authorization[23] - Vimeo reported a total of 165.8 million shares outstanding as of August 1, 2024, with an estimated dilution of 4.2% at a share price of $4.00[41] - The company has 12.2 million stock options and 12.7 million restricted stock units (RSUs) that contribute to potential dilution, with total estimated dilution reaching 6.9 million shares[41] - The company plans to utilize share repurchase authorization as part of its financial strategy moving forward[43] Revenue Streams - Vimeo Enterprise bookings reached $23 million in Q2, contributing to a projected annualized bookings run rate of $100 million[8] - Self-Serve & Add-Ons revenue decreased by 9% year-over-year, while ARPU increased by 6% in Q2[12] - Vimeo Enterprise revenue increased to $20.051 million in Q2 2024, up 55.5% from $12.899 million in Q2 2023[27] - Average revenue per user (ARPU) for Self-Serve & Add-Ons rose to $208, compared to $195 in Q2 2023, reflecting a 6.7% increase[27] - Bookings for Self-Serve & Add-Ons decreased to $67.904 million in Q2 2024, down from $74.789 million in Q2 2023, indicating a need for strategic review[27] - The company reported a total of 1,304.6 thousand subscribers for Self-Serve & Add-Ons, a decrease from 1,432.0 thousand in Q2 2023[27] Cost Management - Research and development expenses for Q2 2024 were $26.972 million, slightly up from $26.676 million in Q2 2023[24] - Sales and marketing expenses decreased significantly to $27.676 million in Q2 2024 from $39.764 million in Q2 2023, indicating cost management efforts[24] - Research and development expenses for Q2 2024 were $27.0 million, representing 26% of revenue, consistent with the previous year[28] Strategic Initiatives - The company expanded its enterprise services into China, supporting major global companies in secure video streaming[1] - Vimeo's focus on product-led growth included investments in AI-powered innovations, such as video translation solutions[19] - Vimeo's OTT video monetization solution allows customers to launch their own streaming channels, expanding its market reach and service diversity[38] - The enterprise offering includes advanced features such as security and custom user permissions, indicating a focus on larger organizations and teams[38] - The company anticipates future growth through international market expansion and improved customer acquisition strategies[43] - The company emphasizes the importance of retaining paying subscribers by enhancing its value proposition and improving service offerings[43] Risks and Challenges - Vimeo's management acknowledges various risks, including economic conditions and competition, which could impact future performance[43]