Bank of America analyst Koji Ikeda downgraded ZoomInfo (NASDAQ:ZI) stock this morning after the company's disappointing second-quarter earnings call yesterday. Indeed, Koji lowered ZI stock's rating from "buy" to "underperform" while also dropping the price target to just $8 per share from $23. Not alone, scores of investment banks are lowering their estimations of ZoomInfo's worth following the company's earnings miss. This includes the likes of Mizuho, RBC Capital, Needham, Piper Sandler, Deutsche Bank an ...

Financial Data and Key Metrics Changes - In Q2 2024, the company recorded GAAP revenue of $292 million, with adjusted operating income of $82 million, representing a margin of 28% [8][33] - A $33 million charge was taken due to higher-than-expected write-offs, particularly from SMBs, which led to a revision of full-year guidance [8][32] - Unlevered free cash flow for the quarter was $120 million, and the company ended the quarter with $399 million in cash and short-term investments [39][40] Business Line Data and Key Metrics Changes - The company saw significant growth in its $100,000 ACV customer cohort, which now constitutes 43% of total ACV, marking the first sequential growth since Q4 2022 [12] - The $1 million-plus customer cohort also grew sequentially, with a 17% year-over-year increase in ACV [12] - Operations and Data-as-a-Service offerings grew 23% year-over-year, with a net retention rate of 117% [16] Market Data and Key Metrics Changes - The enterprise ACV increased by 9% year-over-year, and net new ARR was the best it has been in four quarters [12] - The company closed transactions with major organizations, including PwC and Deutsche Bank, and signed its largest new business transaction, valued at $1.4 million ACV [14][15] Company Strategy and Development Direction - The company is focusing on moving upmarket and stabilizing net revenue retention, with operational changes aimed at reducing write-offs from SMBs [9][11] - A new business risk model was deployed to require prepayment from high-risk prospects, which is expected to mitigate future write-offs [9][10] - The launch of ZoomInfo Copilot, an AI-powered offering, has been successful, generating over $18 million in ACV across more than 1,000 logos [19][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by increased write-offs and a fluid operating environment, leading to conservative guidance for the remainder of the year [49][50] - The company expects to stabilize net revenue retention rates and improve operational performance, despite not assuming continued trends in the second half of the year [50][64] - Management is committed to driving free cash flow per share and has plans for share repurchases, with $400 million remaining in the authorization [24][44] Other Important Information - The company announced changes at the board level, welcoming new members with strong backgrounds in data and capital markets [22][23] - A significant restructuring of real estate was undertaken, with plans to reduce the facility footprint by approximately 40% [35] Q&A Session Summary Question: Understanding the decline for the back half of the year - Management indicated that operational improvements may not take hold until late this year or early next year, leading to conservative guidance [48][49] Question: Impact of layoffs in the technology industry - Management noted that a portion of the business is usage-based, which may mitigate the impact of layoffs, and they see opportunities for growth despite market challenges [53][54] Question: Comparison of current collectibility environment to past periods - Management acknowledged that write-off rates have escalated compared to historical rates, prompting changes in credit practices [67][68] Question: Sales cycle duration and lessons from large customer wins - Sales cycles have remained consistent, and the segmentation of the sales force has led to improved results in mid-market and enterprise segments [78] Question: Write-downs impact on guidance for the full year - Management expects write-offs to continue impacting results, but operational improvements should reduce volatility moving forward [86][88]

| --- | --- | |-----------------------------------------------|-------| | | | | | | | | | | Investor Overview | | | August 5, 2024 Q2 2024 Financial Results DATE | | Q2 2024 EARNINGS CALL > SAFE HARBOR STATEMENT Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements in ...

A decent first-quarter report is overshadowed by a weak outlook.Stock investors tend to be a picky lot, and one item they're picky about is a company's financial guidance. It's all well and good to post quarterly results that beat estimates. However, since most market participants are -- sensibly -- more concerned about the future than the past, if a business's forecasts come in under expectations, it can be punished by Mr. Market.That was the case this week with customer acquisition and management-software ...

ZoomInfo Technologies Inc. (NASDAQ:ZI) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Corporate Participants Jerry Sisitsky - Investor Relations Henry Schuck - Founder and Chief Executive Officer Cameron Hyzer - Chief Financial Officer Conference Call Participants Koji Ikeda - Bank of America Elizabeth Porter - Morgan Stanley DJ Hynes - Canaccord Genuity Mark Murphy - JPMorgan Jackson Ader - KeyBanc Alex Zukin - Wolfe Research Michael Berg - Wells Fargo Securities Brad Zelnick - Deutsche Bank Brent ...

ZoomInfo (ZI) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.33%. A quarter ago, it was expected that this company would post earnings of $0.25 per share when it actually produced earnings of $0.26, delivering a surprise of 4%.Over the last four quarters, the company has surpassed ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39310 ZoomInfo Technologies Inc. (Exact name of registrant as specified in its charter) Delaware 87-3037521 (I.R.S. Employer Identification ...

Exhibit 99.1 ZoomInfo Announces First Quarter 2024 Financial Results GAAP Revenue of $310.1 million Grows 3% year-over-year GAAP Operating Margin of 14% and Adjusted Operating Income Margin of 39% GAAP Cash Flow from Operations of $115.9 million and Unlevered Free Cash Flow of $122.7 million Vancouver, WA, May 7, 2024 - ZoomInfo, (NASDAQ: ZI) the go-to-market platform to find, acquire, and grow customers, today announced its financial results for the first quarter ended March 31, 2024. "We delivered another ...

Investors might want to bet on ZoomInfo (ZI) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a changing earning ...

This long-awaited partnership allows sales teams to match accounts researching their product(s) on TrustRadius with decision maker contact information in the ZoomInfo Sales platform. Hello relevant targeting and deal acceleration. AUSTIN, Texas, April 9, 2024 /PRNewswire/ -- Today, TrustRadius and ZoomInfo announce their new integration that sales and marketing teams have long awaited—a powerful collaboration that combines ZoomInfo's contact-level intelligence with TrustRadius downstream intent data. This i ...