Kanzhun (BZ) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 29, 2022 7:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Kanzhun Limited Third Quarter 2022 Financial Results Conference Call. [Operator Instructions] Today's conference is being recorded.

At this time I would like to turn the conference over to Ms. Wen Bei Wang, Head of Investor Relations. Please go ahead, ma'am.

Wen Bei Wang

Thank you, operator. Good evening and good morning everyone. Welcome to our third quarter 2022 earnings conference call. Joining me today are our Founder Chairman and CEO Mr. Jonathan Peng Zhao and our Director and the CFO Mr. Phil Yu Zhang.

Before we start, we would like to remind you that today's discussion may contain forward-looking statements which are based on management's current expectations and observations that involve known and unknown risks, uncertainties and other factors may not under the company's control which may cause actual results, performance or achievements of the company to be materially different. The company cautions you not to place undue reliance on forward-looking statements and do not undertake any obligation to update these forward-looking information, except as required by law. During today's call management would also discuss certain non-GAAP financial measures for comparison purposes only. But that -- non-GAAP financial measures and then reconciliation of GAAP to non-GAAP financial results, please see the earnings release issued earlier today. In addition, a webcast replay of this conference call will be available on our website at ir.zhipin.com.

With that, I will now turn the call to Jonathan, our Founder, Chairman and CEO.

Jonathan Zhao

Hello everyone. Welcome to our third quarter 2022 earnings conference call. On behalf of the company and our employees, I would like to express our sincere gratitude to our users, investors and friends for your ongoing trust and support.

First, I'd like to share with you our performance for the third quarter. In this quarter, we accorded GAAP revenue of RMB1.82 billion with quarter-on-quarter growth of 6%. Our calculated cash billings which RMB1.24 billion a sequential increase of 26.4%. Benefiting from our enhanced brand recognition and continuous improvement in marketing efficiency. We maintain the rapid growth in our user-base while further improving our profit margin to obtain [indiscernible] over adjusted net income for the third quarter which is gross share-based and compensation expenses, achieved a quarter-on-quarter growth of 5% -- 25% reaching RMB377 million.