2026年2月，暨南大学经济与社会研究院与智联招聘联合发布《2025中国新就业形态报告》。报告显示，依托互联网平台的新 就业形态持续扩张，在供需两端均呈现增长态势，陪诊师、宠物护理师、游戏代打陪练等一系列新兴职业需求猛增。 "位置型"与"云端型"就业互补 报告所指的新就业形态，是指依托于互联网平台高效匹配劳动力供给和需求的创新性就业模式。 新就业形态的核心特征在于其平台依托性。报告依据对地理位置的依赖程度，将新就业形态划分为"基于位置"与"基于云端"两 大类，二者在招聘需求、能力要求和求职者画像上差异显著。 | | | | 新就业形态职位分类 | | --- | --- | --- | --- | | 大类 | 中崇 | 小类 | 特征和范围 | | | 网约车类 | | 由平台派单,在指定地理位置完成载客服务的职位 | | | 配送类 | | 由平台派单,在指定地理位置完成快递或外卖配送任务的职位 | | ਜੇ | | 家政服务 | 由平台派单,上门提供清洁、维修、保养等住房相关服务,如保洁、家电维修 等职位 | | 位 | | | | | 智 | 生活服务类 | 生活护理与陪伴 | 由平台派单,在指定地理 ...

ZipRecruiter (NYSE:ZIP) Q4 2025 Earnings call February 25, 2026 05:00 PM ET Company ParticipantsDavid Travers - PresidentEmilio Sartori - Head of Investor RelationsEric Sheridan - Managing DirectorIan Siegel - Co-founder and CEOKishan Patel - Senior Equity Research AssociateTim Yarbrough - CFOConference Call ParticipantsKunal Madhukar - Senior AnalystRalph Schackart - Equity Research AnalystTrevor Young - Senior Equity Research AnalystOperatorThank you for standing by. My name is Jordan, and I'll be your co ...

Financial Data and Key Metrics Changes - Q4 2025 revenue reached $112 million, representing a 1% year-over-year growth, marking the first year-over-year growth since Q3 2022 [13][20] - Adjusted EBITDA in Q4 2025 was $16.2 million, equating to a margin of 15%, higher than 13% in Q4 2024 and 8% in Q3 2025 [22] - Cash, cash equivalents, and marketable securities totaled $409.1 million as of December 31, 2025 [23] Business Line Data and Key Metrics Changes - Performance marketing revenue increased by 9% in Q4 2025, up from 5% growth in Q3 2025, driven by enterprise-focused strategies [18] - The number of quarterly paid employers was over 59,000 in Q4, a 2% increase year-over-year but a 12% decrease sequentially, consistent with historical seasonal patterns [21] Market Data and Key Metrics Changes - Job openings declined by 10% year-over-year in Q4 2025, reflecting a soft hiring demand [6][9] - The company noted that hiring demand in Q4 2025 was below normal seasonal expectations, with a notable slowdown in SMB demand [28] Company Strategy and Development Direction - The company launched "Be Seen First," a product aimed at enhancing job seekers' visibility to employers, which has shown promising results [6][15] - ZipRecruiter is focused on leveraging AI technology to improve hiring processes and enhance user engagement, with significant investments made in AI-driven features [10][61] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a challenging macroeconomic environment, expecting flat year-over-year revenue in 2026 compared to a 5% decline in 2025 [8][25] - The company anticipates Adjusted EBITDA margins to expand by 5 percentage points in 2026, reflecting cost discipline and targeted investments [25] Other Important Information - Tim Yarbrough, the CFO, announced his departure after over a decade with the company, with Dave Travers stepping in as interim CFO [11][12] - The company has initiated a search for a permanent CFO to ensure a seamless transition [12] Q&A Session Summary Question: Demand environment characterization between large enterprises and SMBs - Management noted a slowdown in SMB demand during Q4 but observed a rebound in early Q1 2026, indicating a stable overall macro environment [28][29] Question: Clarification on Q4 slowdown and Q1 recovery - Management explained that the Q4 slowdown was consistent with government job openings data, while the Q1 recovery is starting from a lower baseline due to the holiday period [34][52] Question: Traffic behavior from LLMs and its impact - Management indicated that while LLM traffic is growing, traditional sources still dominate in terms of engagement, but LLMs are becoming an important part of the traffic mix [37][38] Question: Growth cadence throughout the year and capital allocation - Management expressed confidence in growth acceleration based on year-to-date trends and enterprise performance, while also prioritizing organic growth and potential M&A opportunities in capital allocation [44][46]

Financial Data and Key Metrics Changes - Q4 2025 revenue reached $112 million, representing a 1% year-over-year growth, marking the first quarter of year-over-year growth since Q3 2022 [12][19] - Adjusted EBITDA in Q4 2025 was $16.2 million, equating to a margin of 15%, an increase from 13% in Q4 2024 and 8% in Q3 2025 [20] - Cash, cash equivalents, and marketable securities totaled $409.1 million as of December 31, 2025 [21] Business Line Data and Key Metrics Changes - Performance marketing revenue increased by 9% year-over-year in Q4 2025, up from 5% growth in Q3 2025 [17] - The number of quarterly paid employers was over 59,000 in Q4 2025, a 2% increase year-over-year but a 12% decrease sequentially [19] - Revenue per paid employer was $1,889, down 2% year-over-year but up 10% sequentially [20] Market Data and Key Metrics Changes - Job openings declined by 10% year-over-year, indicating a soft hiring demand in Q4 2025 [5][34] - Despite the overall hiring slowdown, healthcare remained resilient while retail, food service, and education showed weakness [34] Company Strategy and Development Direction - The company launched "Be Seen First," a product aimed at enhancing job seekers' visibility to employers, which has shown promising results [5][13] - The focus remains on leveraging AI technology to improve matching processes and enhance user experience, with significant investments made in this area [10][61] - The company aims to achieve flat year-over-year revenue in 2026, with a targeted expansion of Adjusted EBITDA margins from 9% in 2025 to 14% in 2026 [8][24] Management's Comments on Operating Environment and Future Outlook - Management noted that hiring demand in Q4 2025 was below normal seasonal expectations, but trends in early Q1 2026 have shown improvement [6][28] - The company believes that economic factors, rather than AI displacement, are primarily driving current labor market trends [9] - Management expressed confidence in the company's ability to navigate the current labor market and capitalize on growth opportunities [24] Other Important Information - The CFO announced his departure after over a decade with the company, with the President stepping in as interim CFO [10][11] - The company has initiated a search for a permanent CFO to ensure a seamless transition [11] Q&A Session Summary Question: Characterization of employer demand environment - Management observed a slowdown in SMB demand during Q4 but noted a rebound in early Q1 2026, with SMB demand appearing slightly better than the previous year [26][28] Question: Traffic from LLMs and its impact - Management indicated that while LLM traffic is growing, traditional sources still dominate in terms of engagement and conversion [36][37] Question: Growth cadence throughout the year - Management expects Q1 to be a low point, with gradual improvement anticipated as the year progresses, driven by enterprise performance [41][43] Question: Capital allocation strategy - The company prioritizes organic growth, followed by M&A opportunities, and then return of capital, including stock repurchases [45][46] Question: Changes in employer candidate sourcing - Management confirmed that while resumes remain important, new features like "Be Seen First" are allowing candidates to express enthusiasm and stand out in the application process [49][55]

1 Proprietary and Confidential. © 2026 ZipRecruiter, Inc. All Rights Reserved. Legal Notice This presentation has been prepared by ZipRecruiter, Inc. ("we," "us," "our," the "Company," or "ZipRecruiter"). The information set forth herein does not purport to be complete or to contain all relevant information. Statements contained herein are made as of February 25, 2026 unless stated otherwise. CORPORATE PRESENTATION February 2026 This presentation contains "forward-looking" statements within the meaning of t ...

Group 1 - The company, Kanzhun Limited ("BOSS Zhipin"), announced the execution of its share repurchase program, utilizing approximately RMB 25 million to repurchase 410,642 ordinary shares on February 17 and 18, 2026 [1] - In 2026, the company has deployed over RMB 340 million towards share repurchases, indicating a strong commitment to shareholder returns [1] - BOSS Zhipin maintains authorization under its existing program to repurchase up to USD 250 million worth of its shares, with the program active until the end of August 2026 [1]

Core Viewpoint - BOSS Zhipin (02076) plans to purchase a total of 343,300 Class A ordinary shares in the open market, equivalent to 171,700 American Depositary Shares, using internal resources on February 12, 2026 [1] Group 1 - The shares will be acquired by a trustee according to the terms and conditions of the post-initial public offering share plan [1] - The purchased shares will be held in trust for eligible participants as defined in the plan [1]

Core Viewpoint - KANZHUN LIMITED is actively executing its share repurchase program, demonstrating a strong commitment to enhancing shareholder returns [1] Group 1: Share Repurchase Program - The company utilized over RMB 40 million to repurchase 650,180 ordinary shares on February 9 and 10, 2026 [1] - In 2026, KANZHUN LIMITED has deployed nearly RMB 260 million toward share repurchases [1] - The company maintains authorization to repurchase up to USD 250 million worth of its shares, with the program active until the end of August 2026 [1]

Group 1 - The company BOSS Zhipin announced on February 5 that it spent nearly 3 million USD (approximately 20.78 million CNY) to repurchase 343,000 shares of common stock on February 4 [1] - BOSS Zhipin has been consistently repurchasing shares, with a total repurchase amount exceeding 25 million USD (approximately over 175 million CNY) from 2026 to the present [1]

Forward looking statements This presentation and oral statements made from time to time by our representatives contain forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to our operations and business environ ...