Kanzhun (BZ) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

March 20, 2023 8:00 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 Fourth Quarter and Full Year 2022 Results Financial Results Conference Call. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a Q&A session. 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 fourth quarter and full year 2022 earnings conference call. Joining me today are our Founder, Chairman and CEO, Mr. Jonathan Peng Zhao, and our Director and 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 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 will also discuss certain non-GAAP financial measures for comparison purposes only.

For definition of non-GAAP financial measures and the 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 Peng Zhao

[Foreign Language] Hello, everyone. Welcome to our fourth quarter and full year 2022 earnings conference call. The past year has been a tough one for all of us. I would like to express our sincere gratitude to our users and investors and our employees.

[Foreign Language] First, I would like to share with you our performance for the fourth quarter and full year of 2022. Over the past quarter, we recorded calculated cash billings of RMB1.1 billion and GAAP revenue of RMB1.08 billion, which is relatively flat compared with the same period of last year. Flat is not quite an ideal outcome, primarily affected by the cumulative effects of the COVID-19 outbreaks over the past quarters. The epidemic resurgence, particularly the surge in last December, posed great challenges to our normal operations during the fourth quarter.