ZipRecruiter Announces Third Quarter 2022 Results
Quarterly revenue $227.0 million, up 7% y/y
Company raises revenue guidance to $897M – $903M, or 21% YoY Growth
Company raises Adjusted EBITDA guidance to $173M – $179M, or 20% margin
Company announces $200 million increase to share repurchase program authorization
SANTA MONICA, Calif.– ZipRecruiter®, a leading online employment marketplace, today announced financial results for the quarter ended September 30, 2022. ZipRecruiter’s complete third quarter 2022 results, financial guidance, and management commentary can be found by accessing ZipRecruiter’s shareholder letter on the quarterly results page of the Investor Relations website at investors.ziprecruiter.com.
“ZipRecruiter delivered another strong quarter of growth and profitability in Q3 2022, performing ahead of our expectations. Even amidst a volatile jobs environment we were able to deliver Adjusted EBITDA margin expansion due to the strength of our business model and disciplined investment strategy,” said Ian Siegel, CEO of ZipRecruiter. “ZipRecruiter has proven that we can thrive in a wide range of macroeconomic conditions and we believe we are still in the early stages of our growth. With a robust balance sheet and continued long-term investments in our product and matching technology, we believe we are well positioned to capitalize on a massive market opportunity by serving the needs of both job seekers and employers across all sectors of the US economy,” said Mr. Siegel.
Additionally, the company announced that its Board of Directors has authorized a $200 million increase to its share repurchase program under which ZipRecruiter may repurchase shares of its outstanding common stock.
