Vimeo, Inc. (NASDAQ:VMEO) Q4 2022 Earnings Conference Call February 28, 2022 8:30 AM ET
Company Participants
Anjali Sud - CEO & Director
Gillian Munson - CFO
Conference Call Participants
Thomas Champion - Piper Sandler
Brian Fitzgerald - Wells Fargo
Brent Thill - Jefferies
Justin Patterson - KeyBanc Capital Markets
William Kerr - Cowen and Company
Daniel Pfeiffer - JPMorgan
Operator
Good morning, and thank you for joining Vimeo's fourth quarter earnings live Q&A. We're excited to be here with you on video.
Before we begin, a few comments. First, this session will be recorded and available on the Vimeo Investor Relations site later today. Second, we will discuss Vimeo's outlook and future performance. These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate or similar such statements. These forward-looking views are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today.
We've also provided information regarding certain key metrics and our non-GAAP financial measures, including certain forward-looking measures. These should be considered in addition to and not as a substitute for or in isolation from GAAP measures. Additional information regarding Vimeo's financial performance, including reconciliations with comparable GAAP measures, can be found in our earnings release and Vimeo's filings with the SEC as well as in supplemental information posted on the Investor Relations section of our website.
With that, I'll turn it over to our CEO, Anjali.
Anjali Sud
Hi, folks, and welcome to our fourth quarter Q&A. Last night, we published an interactive shareholder video that walks through our results and outlook. Once again, we use Vimeo's product to make our update fully interactive. We know it's earnings season and your time is precious, so you can click and navigate through the content instead of watching it linearly or just reading the transcript. We, of course, hope that this helps to demonstrate how video can make important communications more engaging and easier to consume.
So I'd like to highlight 3 things before we take your questions. First, we have great momentum in Vimeo Enterprise. Last quarter, bookings were up 59% year-over-year. Net revenue retention was again above 100%, and customer usage is looking very strong. We see Vimeo Enterprise as a big growth driver still in its early days. In under 4 years, we've built a business with a $65 million run rate in bookings that's growing faster than the rest of the market. So we'll lean into this momentum in 2023 with our investments.