ZipRecruiter, Inc. ( (ZIP) ) has released its Q3 earnings. Here is a breakdown of the information ZipRecruiter, Inc. presented to its investors.
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ZipRecruiter, Inc. is a leading online employment marketplace known for its smart matching technology, connecting job seekers with employers across various industries to streamline the hiring process.
In its third-quarter 2024 earnings report, ZipRecruiter reported a revenue of $117.1 million, a 25% decrease from the previous year, and an adjusted EBITDA of $15 million. Despite a net loss of $2.6 million, both revenue and adjusted EBITDA exceeded the company’s guidance, reflecting a challenging labor market.
Key financial metrics included a decline in quarterly paid employers by 27% year-over-year, though revenue per paid employer rose by 3%. The company has been investing in product improvements like ZipIntro, enhancing job seeker engagement and employer interaction. Additionally, the launch of a next-generation Resume Database has improved candidate discovery, with significant increases in employer engagement. Despite the downturn, ZipRecruiter has maintained a robust gross margin of 89%.
ZipRecruiter continues to focus on strategic growth through technological enhancements and increased user engagement. The company’s forward-looking strategy includes expanding its job seeker base and refining its matching technology to better serve both employers and candidates.
Looking ahead, ZipRecruiter remains optimistic about the long-term health of the U.S. labor market, positioning itself for growth when hiring activity rebounds. The company expects to maintain disciplined capital management while investing in capabilities that will drive future marketplace growth.
