Ziprecruiter Inc Stock Price, News & Analysis

ZipRecruiter reported a significant increase in quarterly revenue, reaching $227 million, an impressive 81% year-over-year growth. The company attributes this surge to strong demand for its employment marketplace, enabling it to raise its full-year guidance for continued profitability. CEO Ian Siegel highlighted ongoing investments in technology and brand as key drivers of success. The company will discuss its financial results in a conference call on May 11, 2022.

ZipRecruiter will release its first quarter 2022 financial results for the period ending March 31, 2022, on May 11, 2022. A conference call and webcast will be held at 2:00 PM PT (5:00 PM ET) to discuss these results. Investors can access the call via phone or at investors.ziprecruiter.com. A telephonic replay will be available until May 18, 2022. ZipRecruiter is recognized for its matching technology that enhances job search experiences and has maintained high ratings as a job search app and employment site.

ZipRecruiter, Inc. (NYSE: ZIP) announced an accelerated share repurchase (ASR) agreement with Goldman Sachs to buy back $50 million of its common stock. The initial payment will be followed by the delivery of around 1.8 million shares by March 23, 2022, with final share count determined by market conditions. This action is part of a broader $100 million share repurchase program, with $87.7 million remaining post-ASR. ZipRecruiter plans to continue repurchases indefinitely, underscoring its commitment to shareholder value and confidence in future cash flow generation.

Bambee, a company focused on affordable HR solutions for small businesses, has secured a $30 million Series C funding round, raising its total funding to $65 million. This investment, led by QED Investors and supported by SoftBank, will enhance products like Bambee Guided Payroll and HR Autopilot, and expand customer support teams. With nearly 10,000 active subscribers and a target to double revenue, Bambee plans to hire 150 employees this year and grow operations in Nashville, TN.

ZipRecruiter has appointed Brie Carere to its Board of Directors, effective March 4, 2022. She will also join the Nominating and Corporate Governance Committee. Carere brings over 20 years of experience from FedEx, where she currently serves as Executive Vice President, Chief Marketing and Communications Officer. CEO Ian Siegel expressed confidence in her ability to strengthen the company’s leadership as it seeks to redefine the employment marketplace. ZipRecruiter is recognized as the top job search app on both iOS and Android for the past five years.

ZipRecruiter has authorized a $100 million share repurchase program aimed at enhancing shareholder value. The repurchases will be conducted through open market purchases and block trades, funded by existing cash and operational cash flows. The management will determine the timing and volume of the repurchases based on market conditions and business needs. This initiative underscores ZipRecruiter's commitment to optimizing capital allocation while maintaining financial flexibility.

ZipRecruiter reported a remarkable quarterly revenue growth of $220 million, marking a 93% year-over-year increase. For the full year, revenue reached $741 million, a 77% increase year-over-year. The company also announced a $100 million share repurchase program, signaling confidence in its financial stability. CEO Ian Siegel emphasized the significant demand in the current labor market and expressed optimism about continued growth in 2022. The company will host a conference call to discuss these results further.

ZipRecruiter, a leading online employment marketplace, will present at the Raymond James 43rd Annual Institutional Investors Conference on Tuesday, March 8, 2022. The event highlights ZipRecruiter's continued commitment to connecting job seekers with opportunities through its innovative matching technology. Investors can access live webcasts of the presentation at investors.ziprecruiter.com. Notably, ZipRecruiter has maintained its position as the #1 rated job search app for the past five years and is recognized by G2 as the #1 employment job site.