ZipRecruiter Reports Q2 Beat, But Outlook Worse Than Expected
2022.08.15 23:57
ZipRecruiter Reports Q2 Beat, While Outlook Worse Than Expected
By Davit Kirakosyan
Investing.com – Ziprecruiter Inc (NYSE:ZIP) reported its Q2 results, with EPS of $0.11 coming in better than the consensus estimate of $0.06. Revenue grew 31% year-over-year to $239.9 million, compared to the Street estimate of $233.83 million.
While Q2 in total was strong, the company began to see employers pulling back on job postings during the final weeks of June. “In response to softening demand we are lowering our 2022 revenue outlook, which at the midpoint would demonstrate growth of 20% over 2021. However, we are raising our full year 2022 Adjusted EBITDA guidance to 19% margin, at the midpoint, given the strength of our business model and our disciplined investment approach,” said Ian Siegel, CEO of ZipRecruiter.
The company expects Q3/22 revenue in the range of $217 million to 223 million, compared to the consensus estimate of $233.6 million. Adjusted EBITDA is expected to be in the range of $43 million to $49 million.
The company expects full 2022-year revenue in the range of $883-897 million, compared to the consensus estimate of $914.6 million. Adjusted EBITDA is expected to be in the range of $163 million to $177 million.
