Financial Performance - Q4 2024 revenue was 111.0million,down18474.0 million, representing a 27% decline year-over-year [12]. - The number of Quarterly Paid Employers decreased to 57,833 in Q4 2024, down 18% year-over-year and down 11% sequentially, reflecting reduced demand from small and medium-sized businesses (SMBs) [41]. - Adjusted EBITDA for Q4 2024 was 14.4million,equatingtoa1378.0 million, equating to a 16% margin [20][13]. - Revenue per Paid Employer remained stable at 1,920inQ42024,consistentwiththeprioryearbutup7107 - 111million,reflectingcautiousoptimismforanimprovinglabormarket[21].−RevenueperPaidEmployerforQ4′24was1,920, flat year-over-year and up 7% sequentially, with performance-based revenue representing 23% of total revenue [43]. - Gross profit for Q4'24 was 99.5million,down19103.5 million, a decrease from 109.2millioninQ4′23,primarilyduetolowerstock−basedcompensation[47].−NetlossinQ4′24was(10.8) million, or (10)% net loss margin, compared to net income of 5.6millioninQ4′23[57].−Cash,cashequivalents,andmarketablesecuritiestotaled505.9 million as of December 31, 2024, down from 520.1millionayearearlier[60].−Q1′25revenueguidanceis109 million at the midpoint, representing an 11% decline year-over-year [62]. - Adjusted EBITDA guidance for Q1'25 is 5millionatthemidpoint,ora5111,020,000, a decrease of 18.4% compared to 135,922,000inQ42023[71].−GrossprofitforQ42024was99,516,000, down from 122,444,000inQ42023,representingadeclineof18.7103,532,000, a decrease of 5.7% from 109,157,000inQ42023[71].−NetlossforQ42024was10,793,000, compared to a net income of 5,631,000inQ42023[73].−AdjustedEBITDAforQ42024was14,389,000, down 66.1% from 42,382,000inQ42023[74].−Non−GAAPcostofrevenueforQ42024was10,340,000, a decrease from 12,247,000inQ42023[75].−Non−GAAPoperatingexpensesforQ42024were51,944,000, compared to 45,814,000inQ42023,anincreaseof13.5218,432,000, down from 283,043,000attheendofQ42023[73].−Thecompanyrepurchased2,711,000 of common stock in Q4 2024, compared to $8,412,000 in Q4 2023 [73]. - Total fully diluted shares outstanding as of December 31, 2024, were 109,356,000 [78]. Operational Highlights - Total web traffic grew by 15% year-over-year in Q4 2024, significantly outpacing competitors [11]. - The next-generation Resume Database launched in Q3 2024 has seen double-digit percentage increases in both new users and average resume unlocks [31]. - ZipIntro, a new feature for job seekers, has improved hiring speed, with most employers receiving their first application in under 20 minutes [32]. - The company has begun the initial rollout of Breakroom in the U.S., providing job seekers with data on pay, hours, and work conditions [35]. Financial Metrics and Guidance - Management utilizes key operating metrics and non-GAAP financial measures to assess performance consistently, aiding in internal budgeting and strategic evaluations [84]. - Non-GAAP measures such as Adjusted EBITDA and Adjusted EBITDA margin are used to evaluate operating performance, but should not be viewed as superior to GAAP measures like net income [85]. - The company cannot provide a reconciliation of Adjusted EBITDA for Q1'25 or fiscal year 2025 to GAAP measures due to unpredictability of certain excluded items [87].
ZipRecruiter(ZIP)2025-02-25 21:12