ZoomInfo Technologies, Inc. ( (ZI) ) has released its Q3 earnings. Here is a breakdown of the information ZoomInfo Technologies, Inc. presented to its investors.
ZoomInfo Technologies, Inc. is a leading go-to-market platform providing real-time data and insights to help businesses find, acquire, and grow their customer base, primarily serving the sales and marketing sector with a strong emphasis on data privacy compliance.
ZoomInfo Technologies, Inc. has announced its financial results for the third quarter of 2024, showcasing solid performance despite facing some challenges. The company continued its strategic shift towards larger market opportunities while maintaining a stable net revenue retention rate for the third consecutive quarter.
In the third quarter of 2024, ZoomInfo reported a GAAP revenue of $303.6 million, reflecting a 3% decline year-over-year. The company achieved a GAAP operating income of $43.5 million and an adjusted operating income of $111.7 million, with respective margins of 14% and 37%. Notably, the company expanded its customer base with 1,809 contracts valued at $100,000 or more, further enhancing real-time buyer signals that improved engagement and sales conversion rates.
Additionally, ZoomInfo introduced significant enhancements to its ZoomInfo Copilot, strengthening its partner ecosystem with improved integrations and launching new analytic tools to enhance user experience and strategic account prioritization. The company also executed a substantial share repurchase program, acquiring approximately 7% of its outstanding shares, contributing to a long-term value creation strategy.
Looking ahead, ZoomInfo’s management maintains a positive outlook for the remainder of 2024. The company aims to sustain its growth momentum by focusing on product innovation and expanding its market presence. Despite the revenue decrease, efforts to drive free cash flow and enhance customer satisfaction remain at the core of ZoomInfo’s strategic objectives.
